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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 3% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 4 December 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1085.20

+$22.00

+2.51%

Silver

$14.55

+$0.44

+3.19%

XAU

49.64

+5.26%

+10.53%

HUI

120.45

+5.36%

+12.07%

GDM

405.15

+4.43%

+8.86%

JSE Gold

905.13

+7.07

+2.43%

USD

98.35

0.57

-1.67%

Euro

108.74

-0.64

+2.57%

Yen

81.21

-0.36

-0.27%

Oil

$39.97

-$1.11

-4.65%

10-Year

2.275%

-0.055

+2.25%

Bond

155.09375

+1.59375

-0.12%

Dow

17847.63

+2.12%

+0.28%

Nasdaq

5142.27

+2.08%

+0.29%

S&P

2091.69

+2.05%

+0.08%

 
 

 

The Metals:

 

Gold gained $8.41 to $1071.61 just before this morning’s jobs data before it quickly fell to see a slight loss just after its release, but it then climbed to a new session high of $1088.79 by midmorning in New York and ended with a gain of 2.07%.  Silver rose to as high as $14.612 and ended with a gain of 3.12%.

 

Euro gold rose to about €998, platinum gained $34 to $878, and copper climbed a couple of cents to about $2.09.

 

Gold and silver equities rose about 5% in the first 45 minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Nov

211K

196K

298K

Unemployment Rate

Nov

5.0%

5.0%

5.0%

Hourly Earnings

Nov

0.2%

0.2%

0.4%

Average Workweek

Nov

34.5

34.5

34.6

Trade Balance

Oct

-$43.9B

-$43.0B

-$42.5B

 

The BLS net birth/death adjustment added 15,000 payrolls to November’s data.  Private Payrolls rose 197,000.

 

Fed Outlier Standard Chartered Sees Yellen Cutting Again in 2016 Bloomberg

 

All of this week’s other economic reports:

 

ISM Services - November

55.9 v. 59.1

 

Factory Orders - October

1.5% v. -0.8%

 

Initial Claims - 11/28

269K v. 260K

 

Productivity - Q3

2.2% v. 1.6%

 

Unit Labor Costs - Q3

1.8% v. 1.4%

 

ADP Employment - November

217K v. 196K

 

Construction Spending - October

1.0% v. 0.6%

 

ISM Index - November

48.6 v. 50.1

 

Pending Home Sales - October

0.2% v. -2.3%

 

Chicago PMI - November

48.7 v. 56.2

 

Next week’s economic highlights include Consumer Credit on Monday, Wholesale Inventories on Wednesday, Initial Jobless Claims, Import and Export Prices, and the Treasury Budget on Thursday, and PPI, Retail Sales, Business Inventories, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil fell after OPEC set a record oil-output ceiling of 31.5 million barrels a day.

 

The U.S. dollar index rose on steady jobs data that supported a rate hike by the fed in a couple of weeks.

 

Treasuries climbed higher on the view that any rate hikes will be gradual as today’s Hourly Earnings reading indicated tame inflation going forward.

 

The Dow, Nasdaq, and S&P gained about 2% on today’s goldilocks report.

 

Among the big names making news in the market Friday were American Apparel, Barclays, Adidas, and Samsung.

 

The Statistics:

Activity from: 12/3/2015

Gold Warehouse Stocks:

6,446,930.134

-

Silver Warehouse Stocks:

157,915,205.239

-31,748.193

 

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

638.797

20,537,960

US$22,164m

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$4,822m

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$5,338m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$389m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.42

945,769

US$1,021m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.226 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 157.07: -0.90 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,928.86: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) naming to the semi-annual re-ranking of the NASDAQ OMX CRD Global Sustainability Index and Comstock’s (LODE) realignment of State Route 342 were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Newmont

NEM +9.24% $20.46

2.  Primero

PPP +8.66% $2.51

3.  Coeur

CDE +8.37% $2.85

 

LOSER

1.  Endeavour Silver

EXK -3.31% $1.46

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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, 4 December 2015 | E-Mail  | Print  | Source: GoldSeek.com

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