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Gold Seeker Weekly Wrap-Up: Gold Explodes Higher on Brexit Shock
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 24 June 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1318.90

+$61.40

+1.58%

Silver

$17.72

+$0.39

+1.49%

XAU

93.70

+3.62%

+3.72%

HUI

237.88

+5.96%

+4.74%

GDM

742.62

+5.07%

+4.23%

JSE Gold

2287.35

+234.68

+6.67%

USD

95.66

+2.28

+1.60%

Euro

110.97

-3.26

-1.61%

Yen

97.69

+4.06

+1.75%

Oil

$47.64

-$2.47

-0.71%

10-Year

1.579%

-0.160

-2.41%

Bond

170.1875

+4.09375

-0.24%

Dow

17399.86

-3.39%

-1.56%

Nasdaq

4707.97

-4.12%

-1.92%

S&P

2037.30

-3.60%

-1.64%

 
 

 

 

The Metals:

 

Gold soared $100.79 to as high as $1358.29 in Asia before it pared back to $1306.59 in London, but it then bounced back higher in New York and ended with a gain of 4.88%.  Silver jumped to as high as $18.318 and ended with a gain of 2.25%.

 

Euro gold jumped to about €1190, platinum gained $20 to $982, and copper fell 5 cents to about $2.11.

 

Gold and silver equities stabilized at about 5% higher in the first fifteen minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods Orders

May

-2.2%

-0.6%

3.3%

Durable Goods Orders ex-trans.

May

-0.3%

0.1%

0.5%

Michigan Sentiment

June

93.5

94.0

94.3

 

All of this week’s other economic reports:

 

Leading Indicators - May

-0.2% v. 0.6%

 

New Home Sales - May

551K v. 586K

 

Initial Claims - 6/18

259K v. 277K

 

FHFA Housing Price Index - April

0.2% v. 0.8%

 

Existing Home Sales - May

5.53M v. 5.43M

 

Next week’s economic highlights include GDP, the Case-Shiller 20-city Index, and Consumer Confidence on Tuesday, Personal Income and Spending, the Core PCE Price Index, and Pending Home Sales on Wednesday, Initial Jobless Claims and Chicago PMI on Thursday, and the ISM Index and Construction Spending on Friday.

 

The Markets:

 

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

 

Oil fell almost 5% and the U.S. dollar index and treasuries jumped markedly higher while the Dow, Nasdaq, and S&P dropped roughly 4% on astonishment over Britain’s vote to leave the EU.

 

Among the big names making news in the market Friday were Deutsche Bank, Telefonica, and United Airlines.

 

GATA Posts:

 

 

Rule, Britannia! Britannia, rule THYSELF!

GATA secretary explains gold price suppression and news suppression

 

The Statistics:

Activity from: 6/23/2016

Gold Warehouse Stocks:

8,854,088.661

+4,028.28

Silver Warehouse Stocks:

150,767,921.693

+1,716,424.849

 

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

915.898

29,447,048

US$38,728m

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$5,859m

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$6,475m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.88

1,121,361

US$1,417m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.91: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,333.02: -26.61 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Vista Gold

VGZ +18.05% $1.57

2.  B2Gold

BTG +10.55% $2.41

3.  Gold Fields

GFI +9.43% $4.64

 

LOSERS

1.  Freeport

FCX-10.19%$10.58

2.  Turquoise

TRQ -5.56% $3.23

3.  Nevsun

NSU -3.78% $2.80

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, 24 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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