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Gold Seeker Weekly Wrap-Up: Gold and Silver End Slightly Lower on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 11 December 2015 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1078.20

+$6.50

-0.65%

Silver

$13.95

-$0.16

-4.12%

XAU

47.40

+0.08%

-4.51%

HUI

116.49

+0.44%

-3.29%

GDM

395.14

+0.54%

-2.47%

JSE Gold

1127.60

+71.72

+24.58%

USD

97.53

-0.38

-0.83%

Euro

109.86

+0.42

+1.03%

Yen

82.72

+0.48

+1.86%

Oil

$35.62

-$1.14

-10.88%

10-Year

2.139%

-0.100

-5.98%

Bond

158.625

+2.15625

+2.28%

Dow

17265.21

-1.76%

-3.26%

Nasdaq

4933.46

-2.21%

-4.06%

S&P

2012.37

-1.94%

-3.79%

 
 

 

The Metals:

 

Gold edged up to $1072.05 in Asia before it dropped back to $1062.52 in London, but it then rose to as high as $1079.45 in New York and ended with a gain of 0.61%.  Silver slipped to as low as $13.806 and ended with a loss of 1.13%.

 

Euro gold rose to about €980, platinum lost $11 to 841, and copper climbed 4 cents to about $2.12.

 

Gold and silver equities traded mostly higher and ended with modest gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Nov

0.3%

-0.1%

-0.4%

Core PPI

Nov

0.3%

0.1%

-0.3%

Retail Sales

Nov

0.2%

0.3%

0.1%

Retail Sales ex-auto

Nov

0.4%

0.3%

0.1%

Business Inventories

Oct

0.0%

0.1%

0.1%

Michigan Sentiment

Dec

91.8

91.6

91.3

 

All of this week’s other economic reports:

 

Treasury Budget - November

-$64.6B v. -$56.8B

 

Import Prices - November

-0.4% v. -0.3%

 

Import Prices ex-oil - November

-0.2% v. -0.3%

 

Export Prices - November

-0.6% v. -0.2%

 

Export Prices ex-ag. - November

-0.6% v. -0.3%

 

Initial Claims - 12/05

282K v. 269K

 

Wholesale Inventories - October

-0.1% v. 0.2%

 

JOLTS - Job Openings - October

5.38M v. 5.53M

 

Consumer Credit - October

$16.0B v. 28.5B

 

Next week’s economic highlights include CPI, Empire Manufacturing, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Tuesday, Building Permits, Housing Starts, Capacity Utilization, Industrial Production, and a FOMC Rate Decision on Wednesday, and Initial Jobless Claims, the Philadelphia Fed, the Current Account Balance, and Leading Economic Indicators on Thursday.

 

The Markets:

 

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

 

Oil fell another 3% “after the International Energy Agency (IEA) warned that global oversupply could worsen next year.”

 

The U.S. dollar index fell on concerns that oil’s continued weakness may influence interest rate policy.

 

Treasuries saw substantial gains as the Dow, Nasdaq, and S&P fell about 2% on oil volatility and interest rate uncertainty.

 

Among the big names making news in the market Friday were Alibaba, Fosun Pharma, MetLife, Third Avenue, DuPont and Dow Chemical, and Saks.

 

GATA Posts:

 

 

Zero Hedge: China's devaluation plan is warning to Fed against raising rates

China signals aim to loosen yuan's peg to dollar and use currency basket instead

Austria repatriates 15 tonnes of gold from London

 

The Statistics:

Activity from: 12/10/2015

Gold Warehouse Stocks:

6,329,225.334

+13,663.75

Silver Warehouse Stocks:

159,074,900.513

+622,045.86

 

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

634.630

20,403,987

US$21,880m

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$4,779m

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$5,280m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$387m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.41

945,697

US$1,016m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 157.07: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,000.01: No change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) dividend, IAMGOD’s (AIG) board appointment, and Lake Shore’s (LSG) normal course issuer bid were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Kinross

KGC +3.59% $2.02

2.  DRDGOLD

DRD+3.42% $1.51

3.  Gold Fields

GFI +3.40% $2.74

 

LOSERS

1.  Freeport

FCX -6.25% $6.90

2.  Paramount

PZG -5.47% $1.21

3.  Fortuna

FSM -3.16% $2.45

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

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