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GoldSeek Web

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

 -- Published: Friday, 8 April 2016 | Print  | Disqus 




On Week





















JSE Gold










































The Metals:


Gold dropped $10.68 to $1229.62 in London, but it then climbed back higher for most of trade in New York and ended with a loss of just 0.06%.  Silver rose to as high as $15.38 and ended with a gain of 0.85%.


Euro gold fell to about €1087, platinum gained $11 to $965, and copper remained at about $2.09.


Gold and silver equities gained about 4% by midday and remained near that level for the rest of the day.


The Economy:







Wholesale Inventories






Fed's Dudley sees risks lingering, cautious on U.S. rate hikes  Reuters

Yellen Says U.S. Near Full Employment, Some Slack Remains  Bloomberg


All of this week’s other economic reports:


Consumer Credit - February

$17.3B v. $14.8B


Initial Claims - 4/02

267K v. 276K


JOLTS - Job Openings - February

5.445M v. 5.604M


ISM Services - March

54.5 v. 53.4


Trade Balance - February

-$47.1 v. -$45.9B


Factory Orders - February

-1.7% v. 1.2%


Next week’s economic highlights include Import and Export Prices and the Treasury Budget on Tuesday, PPI, Retail Sales, Business Inventories, and the Fed's Beige Book on Wednesday, Initial Jobless Claims and CPI on Thursday, and Empire Manufacturing, Capacity Utilization, Industrial Production, and Net Long-Term TIC Flows on Friday.


The Markets:


Charts Courtesy of


Oil gained nearly 7% on falling US output and declining rig counts.


The U.S. dollar index dropped as the euro rose after minutes from the ECB’s March meeting expressed confidence in Draghi and the stimulative measures employed last month.


Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on relief over oil’s rebound.


Among the big names making news in the market Friday were UnitedHealth, Starboard, and Twitter.


GATA Posts:



Actual life in the junior gold mining sector


The Statistics:

Activity from: 4/7/2016

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 187.26: +0.30 change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,411.09: No change from yesterday’s data.


The Miners:


Goldcorp’s (GG) investment in Probe Metals (PRB.V) and Endeavour Silver’s (EXK) production results were among the big stories in the gold and silver mining industry making headlines Friday.



1.  Almaden

AAU +19.04% $1.12

2.  Alexco

AXU +13.67% $1.08

3.  McEwen

MUX +10.58% $2.30



1.  MAG Silver

MVG -1.84% $9.62

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 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. 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’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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