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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 1% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 22 January 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1096.80

-$5.90

+0.71%

Silver

$14.05

-$0.08

+1.08%

XAU

40.92

+0.74%

-1.33%

HUI

106.84

+0.99%

+0.12%

GDM

362.09

+0.92%

-1.15%

JSE Gold

1346.28

-26.73

-2.13%

USD

99.56

+0.55

+0.69%

Euro

107.99

-0.75

-1.10%

Yen

84.14

-0.77

-1.57%

Oil

$32.19

+$2.66

+9.42%

10-Year

2.048%

+0.029

+0.74%

Bond

158.8125

-0.75

-0.27%

Dow

16093.51

+1.33%

+0.66%

Nasdaq

4591.17

+2.66%

+2.29%

S&P

1906.90

+2.03%

+1.42%

 
 

 

The Metals:

 

Gold dropped $8.53 to $1094.17 by a little after 9AM EST before it bounced back to $1101.33 in the next hour and a half of trade, but it then drifted back lower into the close and ended with a loss of 0.54%.  Silver slipped to as low as $14.031 and ended with a loss of 0.57%.

 

Euro gold rose to about €1016, platinum gained $7.50 to $826.50, and copper remained at about $2.00.

 

Gold and silver equities waffled near unchanged and ended almost 1% higher.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Existing Home Sales

Dec

5.46M

5.12M

4.76M

Leading Indicators

Dec

-0.2%

-0.1%

0.5%

 

All of this week’s other economic reports:

 

Philadelphia Fed - January

-3.5 v. -10.2

 

Initial Claims - 1/16

293K v. 283K

 

Housing Starts - December

1149K v. 1179K

 

Building Permits - December

1232K v. 1282K

 

CPI - December

-0.1% v. 0.0%

 

Core CPI - December

0.1% v. 0.2%

 

NAHB Housing Market Index - January

60 v. 60

 

Next week’s economic highlights include the Case-Shiller 20-city Index, the FHFA Housing Price Index, and Consumer Confidence on Tuesday, New Home Sales and a FOMC Rate Decision on Wednesday, Initial Jobless Claims, Durable Goods Orders, and Pending Home Sales on Thursday, and GDP, Chicago PMI, and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil gained 9% on cold weather forecasts that raised demand expectations and prompted short covering.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P climbed over 1% higher on relief over the recovery in oil.

 

Among the big names making news in the market Friday were Sprint, Shake Shack, Apple, and GE.

 

GATA Posts:

 

 

LME said to be in talks with banks to list London gold contracts

Saudi Arabia's secret holdings of U.S. debt are suddenly a big deal

Indian gold paperization scheme is failing so govt. boosts subsidy to banks

 

The Statistics:

Activity from: 1/21/2016

Gold Warehouse Stocks:

6,401,380.666

-803.75

Silver Warehouse Stocks:

155,356,630.858

-552,004.395

 

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

662.089

21,286,838

US$23,330m

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$4,879m

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$5,393m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$394m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,623

US$1,027m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.785 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.82: +0.36 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,692.04: -62.21 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  IAMGOLD

IAG +7.32% $1.32

2.  Eldorado

EGO +5.56% $2.28

3.  Fortuna

FSM +5.00% $2.31

 

LOSERS

1.  Freeport

FCX -9.01% $3.94

2.  Gold Fields

GFI -5.54% $2.90

3.  Harmony

HMY -4.62% $1.65

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

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