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Gold Seeker Weekly Wrap-Up: Gold Gains With Miners While Slips Silver on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 1 April 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1223.40

-$7.80

+0.51%

Silver

$15.07

-$0.35

-0.66%

XAU

69.71

+0.30%

+3.30%

HUI

179.91

+0.94%

+4.96%

GDM

559.01

+0.50%

+3.43%

JSE Gold

1978.27

-52.16

-1.88%

USD

94.58

-0.02

-1.61%

Euro

113.98

+0.17

+1.95%

Yen

89.57

+0.74

+1.05%

Oil

$36.79

-$1.55

-6.77%

10-Year

1.792%

+0.006

-5.68%

Bond

164.65625

+0.21875

+1.11%

Dow

17792.75

+0.61%

+1.58%

Nasdaq

4914.54

+0.92%

+2.95%

S&P

2072.78

+0.63%

+1.81%

 
 

 

The Metals:

 

Gold saw slight gains in Asia before it fell to see a $22.04 loss at $1209.16 by midmorning in New York, but it then rallied back higher into the close and ended with a loss of 0.63%.  Silver slipped to as low as $14.833 and ended with a loss of 2.27%.

 

Euro gold fell to about €1074, platinum lost $16.50 to $954, and copper fell a couple of cents to about $2.17.

 

Gold and silver equities fell as much as 4% at the open, but they then rallied back higher for most of the rest of trade and ended with modest gains on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Mar

215K

200K

245K

Unemployment Rate

Mar

5.0%

4.9%

4.9%

Hourly Earnings

Mar

0.3%

0.3%

-0.1%

Average Workweek

Mar

34.4

34.5

34.4

Construction Spending

Feb

-0.5%

0.2%

2.1%

ISM Index

Mar

51.8

50.6

49.5

Michigan Sentiment

Mar

91.0

90.5

90.0

 

The BLS net birth/death adjustment added 34,000 payrolls to March’s data.  Private Payrolls rose 195,000.

 

All of this week’s other economic reports:

 

Chicago PMI - March

53.6 v. 47.6

 

Initial Claims - 3/26

276K v. 265K

 

ADP Employment - March

200K v. 205K

 

Consumer Confidence - March

96.2 v. 94.0

 

Case-Shiller 20-city Index - January

5.7% v. 5.7%

 

Pending Home Sales - February

3.5% v. -3.0%

 

PCE Prices - February

0.1% v. 0.3%

 

Personal Income - February

0.2% v. 0.5%

 

Personal Spending - February

0.1% v. 0.1%

 

Next week’s economic highlights include Factory Orders on Monday, the Trade Balance and ISM Services on Tuesday, FOMC Minutes on Wednesday, Initial Jobless Claims and Consumer Credit on Thursday, and Wholesale Inventories on Friday.

 

The Markets:

 

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

 

Oil fell 4% after Saudi Arabia’s comments about Iran cast doubt that a deal can be reached to freeze output.

 

The U.S. dollar index initially jumped higher after the release of this morning’s jobs report, but it then fell back off into the close and ended slightly lower on that view that it won’t ultimately influence the fed towards raising interest rates.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P rose to see almost 1% gains by the close on decent economic data along with easy monetary policy.

 

Among the big names making news in the market Friday were GM, Fiat, Chrysler, Tesla, and Vale.

 

GATA Posts:

 

 

Gold Newsletter's Lundin chides market manipulation by big commercial shorts

 

The Statistics:

Activity from: 3/31/2016

Gold Warehouse Stocks:

6,851,037.289

-132.278

Silver Warehouse Stocks:

154,394,901.148

-604,062.52

 

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

819.282

26,340,747

US$31,956m

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$5,390m

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$5,956m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

32.71

1,051,615

US$1,284m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 186.33: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,344.35: +68.08 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Alamos Gold

AGI +6.05% $5.61

2.  Gold Standard

GSV +5.76% $1.10

3.  Seabridge

SA +5.75% $11.59

 

LOSERS

1.  Freeport

FCX -4.45% $9.89

2.  Paramount

PZG -2.78% $1.40

3.  Silver Wheaton

SLW-1.03% $16.41

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, 1 April 2016 | E-Mail  | Print  | Source: GoldSeek.com

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