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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 5% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 12 February 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1238.30

-$5.90

+5.51%

Silver

$15.72

+$0.02

+4.52%

XAU

60.64

+3.20%

+9.66%

HUI

163.58

+2.68%

+10.65%

GDM

516.92

+2.74%

+10.39%

JSE Gold

1941.01

+53.69

+16.41%

USD

95.97

+0.42

-1.07%

Euro

112.57

-0.67

+0.82%

Yen

88.29

-0.68

+3.26%

Oil

$29.44

+$3.23

-4.69%

10-Year

1.748%

+0.104

-5.41%

Bond

166.65625

-1.6875

+2.01%

Dow

15973.84

+2.00%

-1.43%

Nasdaq

4337.51

+1.66%

-0.59%

S&P

1864.78

+1.95%

-0.81%

 
 

 

The Metals:

 

Gold dipped $11.30 to $1232.90 in early New York trade before it bounced back higher into the close, but it still ended with a loss of 0.47%.  Silver slipped to as low as $15.616 and ended with a gain of 0.13%.

 

Euro gold rose about €1100, platinum lost $2 to $953, and copper climbed a couple of cents to about $2.03.

 

Gold and silver equities waffled near unchanged for most of the morning, but they then climbed higher in afternoon trade and ended with about 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

Jan

-0.8%

-

-1.1%

Export Prices ex-ag.

Jan

-0.8%

-

-1.1%

Import Prices

Jan

-1.1%

-

-1.1%

Import Prices ex-oil

Jan

-0.2%

-

-0.3%

Retail Sales

Jan

0.2%

0.2%

0.2%

Retail Sales ex-auto

Jan

0.1%

0.0%

0.1%

Business Inventories

Dec

0.1%

0.1%

-0.1%

Michigan Sentiment

Feb

90.7

92.7

92.0

 

The Markets:

 

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

 

Oil jumped over 12% higher on renewed hopes that OPEC will reach a deal to cut production.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P climbed about 2% on better than expected economic data that reduced the financial fears that dominated the week.

 

Among the big names making news in the market Friday were Commerzbank, Victoria's Secret, Deutsche Bank, Intercept, and Chesapeake.

 

GATA Posts:

 

 

Allister Heath: This crisis has been caused by arrogant central banks

An interview with George Taber, author of 'Chasing Gold'

Bron Suchecki moves from Perth Mint to Monetary Metals

The King Report: Strategic buying of S&P futures is managing stock market decline

Bitcoin's future threatened by software schism

Bank of Japan loses control as QE hits the limits

 

The Statistics:

Activity from: 2/11/2016

Gold Warehouse Stocks:

6,566,999.008

+643.00

Silver Warehouse Stocks:

157,865,977.961

+277,361.153

 

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

716.011

23,020,458

US$28,536m

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$5,487m

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$6,058m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,417

US$1,116m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 13.98 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 174.83: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,591.72: No change from yesterday’s data.

 

The Miners:

 

Gold Standard’s (GSV) closed private placement financing, Mines Management’s (MGN) Record of Decision, and Great Panther’s (GPL) fine were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Coeur

CDE +18.09% $3.33

2.  Freeport

FCX +13.09% $5.53

3.  First Majestic

AG +7.18% $4.33

 

LOSERS

1.  McEwen

MUX -1.24% $1.59

2.  Gold Resource

GORO-1.17% $1.69

3.  Harmony

HMY -0.36% $2.74

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, 12 February 2016 | E-Mail  | Print  | Source: GoldSeek.com

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