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Gold Seeker Weekly Wrap-Up: Gold Falls Over 1% on the Week While Dow Drops Over 2%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 15 January 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1089.10

+$12.20

-1.22%

Silver

$13.90

+$0.06

UNCH

XAU

41.47

-0.10%

-11.93%

HUI

106.71

-0.50%

-9.98%

GDM

366.32

-0.22%

-9.02%

JSE Gold

1375.63

+34.63

+9.54%

USD

98.88

-0.22

+0.39%

Euro

109.19

+0.52

-0.03%

Yen

85.48

+0.83

+0.48%

Oil

$29.42

-$1.78

-11.28%

10-Year

2.033%

-0.065

-4.55%

Bond

159.25

+1.78125

+1.70%

Dow

15988.08

-2.39%

-2.19%

Nasdaq

4488.41

-2.74%

-3.34%

S&P

1880.29

-2.16%

-2.17%

 
 

 

The Metals:

 

Gold gained $20.33 to $1097.23 at about 9AM EST before it chopped back lower at times, but it still ended with a gain of 1.04%.  Silver rose to as high as $14.128 and ended with a gain of 0.43%.

 

Euro gold rose to about €998, platinum lost $9 to $822, and copper fell a few cents to about $1.95.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Retail Sales

Dec

-0.1%

0.1%

0.4%

Retail Sales ex-auto

Dec

-0.1%

0.3%

0.3%

PPI

Dec

-0.2%

-0.1%

0.3%

Core PPI

Dec

0.1%

0.1%

0.3%

Empire Manufacturing

Jan

-19.4

-3.5

-6.2

Industrial Production

Dec

-0.4%

-0.2%

-0.9%

Capacity Utilization

Dec

76.5%

76.9%

76.9%

Michigan Sentiment

Jan

93.3

92.6

92.6

Business Inventories

Nov

-0.2%

0.0%

-0.1%

 

Raft of weak U.S. data points to sharply slower growth  Reuters

 

All of this week’s other economic reports:

 

Import Prices - December

-1.2% v. -0.5%

 

Import Prices ex-oil - December

-0.4% v. -0.2%

 

Export Prices - December

-1.1% v. -0.7%

 

Export Prices ex-ag. - December

-1.0% v. -0.6%

 

Initial Claims - 1/09

284K v. 277K

 

Treasury Budget - December

-$14.4B v. $1.9B

 

JOLTS - Job Openings - November

5.43M v. 5.35M

 

Next week’s economic highlights include the NAHB Housing Market Index and Net Long-Term TIC Flows on Tuesday, CPI, Housing Starts, and Building Permits on Wednesday, Initial Jobless Claims and the Philadelphia Fed on Thursday, and Existing Home Sales and Leading Economic Indicators on Friday.

 

The Markets:

 

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

 

Oil fell almost 6% on signs that Iran will resume exports soon.

 

The U.S. dollar index dropped and treasuries rose on poor economic data that sent the Dow, Nasdaq, and S&P over 2% lower.

 

Among the big names making news in the market Friday were GoPro, Citigroup, and Wal-Mart.

 

GATA Posts:

 

 

Indian govt.: Buy our paper gold so we can drive gold's price down

Bron Suchecki: German gold repatriation update

 

The Statistics:

Activity from: 1/14/2016

Gold Warehouse Stocks:

6,404,441.232

-3,739.311

Silver Warehouse Stocks:

159,060,542.817

-680,035.985

 

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

654.057

21,028,579

US$22,996m

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$4,837m

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$5,342m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$391m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.17

937,685

US$1,025m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.16: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,840.17: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) Feasibility Study, Great Panther’s (GPL) resumed operations, and Excellon’s (EXN.TO) optimization plan were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  DRDGOLD

DRD +9.66% $2.27

2.  Harmony

HMY +8.05% $1.61

3.  Gold Fields

GFI +4.67% $3.14

 

LOSERS

1.  Buenaventura

BVN -7.84% $3.76

2.  Yamana

AUY -7.74% $1.55

3.  Kinross

KGC -7.50% $1.48

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 2016

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, 15 January 2016 | E-Mail  | Print  | Source: GoldSeek.com

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