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

 -- Published: Friday, 29 January 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1117.30

+$2.80

+1.87%

Silver

$14.27

+$0.03

+1.57%

XAU

45.96

+2.80%

+12.32%

HUI

120.80

+2.19%

+13.07%

GDM

394.36

+1.65%

+8.91%

JSE Gold

1426.28

-20.72

+5.94%

USD

99.57

+0.96

+0.07%

Euro

108.34

-1.04

+0.32%

Yen

82.61

-1.55

-1.82%

Oil

$33.62

+$0.40

+4.44%

10-Year

1.931%

-0.054

-5.71%

Bond

161.125

+1.0625

+1.46%

Dow

16466.30

+2.47%

+2.32%

Nasdaq

4613.95

+2.38%

+0.50%

S&P

1940.24

+2.48%

+1.75%

 
 

 

The Metals:

 

Gold edged up to $1117.22 in London before it dropped back to $1110.95 by a little before 10AM EST, but it then rallied to a new session high of $1118.30 by late morning in New York and ended with a gain of 0.25%.  Silver rose to as high as $14.309 and ended with a gain of 0.21%.

 

Euro gold rose to about €1031, platinum gained $6 to $868, and copper climbed slightly to about $2.06.

 

Gold and silver equities rose about 2% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

GDP

Q4

0.7%

0.9%

2.0%

GDP Deflator

Q4

0.8%

0.9%

1.3%

Employment Cost Index

Q4

0.6%

0.6%

0.6%

Chicago PMI

Jan

55.6

45.0

42.9

Michigan Sentiment

Jan

92.0

93.2

93.3

 

All of this week’s other economic reports:

 

Pending Home Sales - December

0.1% v. -1.1%

 

Durable Goods - December

-5.1% v. -0.5%

 

Durable Goods -ex trans. - December

-1.2% v. -0.5%

 

Initial Claims - 1/23

278K v. 294K

 

New Home Sales - December

544K v. 491K

 

Consumer Confidence - January

98.1 v. 96.3

 

FHFA Housing Price Index - November

0.5% v. 0.5

 

Case-Shiller 20-city Index - November

5.8% v.5.5%

 

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

 

The Markets:

 

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

 

Oil rose over 1% on continued talks about possible production cuts.

 

The U.S. dollar index rose along with treasuries as the yen fell after the Bank of Japan’s unexpectedly cut a benchmark interest rate below zero.

 

The Dow, Nasdaq, and S&P rose over 2% by the close on optimism over more monetary stimulus.

 

Among the big names making news in the market Friday were Xerox, Express Scripts, and Chevron.

 

GATA Posts:

 

 

Yen slides after Bank of Japan stuns markets with negative rates

Jeffrey P. Snider: F(r)actions of gold

Ted Butler: Troubling turnover in silver

 

The Statistics:

Activity from: 1/28/2016

Gold Warehouse Stocks:

6,427,038.703

+6,392.61

Silver Warehouse Stocks:

158,265,644.622

+1,142,201.24

 

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

669.229

21,516,385

US$23,914m

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$4,961m

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$5,480m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$401m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,541

US$1,043m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.45: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,626.86: -35.55 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Coeur

CDE +9.41% $2.21

2.  Turquoise

TRQ +7.29% $2.06

3.  Hecla

HL +6.90% $1.86

 

LOSERS

1.  Harmony

HMY -6.77% $1.79

2.  DRDGOLD

DRD -4.76% $2.80

3.  Richmont

RIC -1.63% $3.62

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

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