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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 30 October 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1141.50

-$4.30

-1.98%

Silver

$15.52

-$0.08

-2.14%

XAU

51.45

-1.51%

-8.61%

HUI

122.70

-2.23%

-9.75%

GDM

413.95

-1.63%

-9.12%

JSE Gold

1043.91

-20.77

-2.98%

USD

96.98

-0.30

-0.12%

Euro

109.93

+0.14

-0.15%

Yen

82.86

+0.31

+0.59%

Oil

$46.59

+$0.53

+4.46%

10-Year

2.151%

-0.022

+3.26%

Bond

156.4375

+0.59375

-0.42%

Dow

17663.54

-0.52%

+0.10%

Nasdaq

5053.74

-0.40%

+0.43%

S&P

2079.36

-0.48%

+0.20%

 
 

 

The Metals:

 

Gold edged up to $1150.11 in Asia before it fell back to $1139.47 in early afternoon New York trade and then bounced back higher, but it still ended with a loss of 0.38%.  Silver slipped to as low as $15.495 and ended with a loss of 0.51%.

 

Euro gold fell to about €1038, platinum lost $6 to $982, and copper remained at about $2.32.

 

Gold and silver equities waffled near unchanged and ended about 2% lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Sep

0.1%

0.2%

0.4%

Personal Spending

Sep

0.1%

0.2%

0.4%

PCE Prices - Core

Sep

0.1%

0.1%

0.1%

Employment Cost Index

Q3

0.6%

0.5%

0.2%

Chicago PMI

Oct

56.2

49.0

48.7

Michigan Sentiment

Oct

90.0

92.6

92.1

 

All of this week’s other economic reports:

 

Pending Home Sales - September

-2.3% v. -1.4%

 

Initial Claims - 10/24

260K v. 259K

 

GDP - Q3

1.5% v. 3.9%

 

Chain Deflator - Q3

1.2% v. 2.1%

 

FOMC Rate Decision - October

0.00% - 0.25%

 

Consumer Confidence - October

97.6 v. 102.6

 

Case-Shiller 20-city Index - August

5.1% v. 4.9%

 

Durable Goods - September

-1.2% v. -3.0%

 

Durable Goods -ex trans. - September

-0.4% v. -0.9%

 

New Home Sales - September

468K v. 529K

 

Next week’s economic highlights include the ISM Index and Construction Spending on Monday, Factory Orders on Tuesday, ADP Employment, the Trade Balance, and ISM Services on Wednesday, Initial Jobless Claims, Productivity, and Unit Labor Costs on Thursday, and October’s jobs data and Consumer Credit on Friday.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil turned higher after Baker Hughes released data that “showed that the number of active U.S. rigs fell 12 to 775 as of Oct. 30.”

 

The U.S. dollar index fell on sluggish inflation data that sent treasuries higher.

 

The Dow, Nasdaq, and S&P traded near unchanged and ended lower on mixed earnings reports.

 

Among the big names making news in the market Friday were CVS, BG Group, KeyCorp, Valeant, Chevron, and Exxon.

 

GATA Posts:

 

 

GoldSeek Radio interviews GATA chairman from New Orleans conference

Venezuela's gold holdings drop 19% from Jan.-May

Central banks, LBMA are one and the same; and gold price suppression's Asian angle

 

The Statistics:

Activity from: 10/29/2015

Gold Warehouse Stocks:

6,700,779.364

-

Silver Warehouse Stocks:

162,091,438.937

-7,118.939

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

694.344

22,323,855

US$25,493m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,075m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$5,604m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$410m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.80

893,937

US$999m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.99: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,783.06: -31.14 change from yesterday’s data.

 

The Miners:

 

International Tower Hill’s (ITH) third quarter results, Buenaventura’s (BVN) third quarter results, Eldorado’s (EGO) third quarter results, and Aurcana’s (AUN.V) restructuring were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Fortuna

FSM +3.16% $2.61

2.  DRDGOLD

DRD +2.67% $1.54

3.  Turquoise

TRQ +2.26% $2.72

 

LOSERS

1.  Buenaventura

BVN -8.56% $6.41

2.  Paramount

PZG -6.78% $1.10

3.  Eldorado

EGO -5.41% $3.50

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2015

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


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 -- Published: Friday, 30 October 2015 | E-Mail  | Print  | Source: GoldSeek.com

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