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Gold Seeker Weekly Wrap-Up: Gold Gains Almost 2% and Silver Soars Over 11% on the Week
By: Chris Mullen, Gold-Seeker.com

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

Please Note: US Markets will be closed on Monday in observance of Independence Day.

 

 

Close

Gain/Loss

On Week

Gold

$1343.70

+$20.00

+1.88%

Silver

$19.70

+$0.92

+11.17%

XAU

102.49

+4.98%

+9.38%

HUI

258.98

+5.02%

+8.87%

GDM

804.05

+3.81%

+8.27%

JSE Gold

2447.74

+83.39

+7.01%

USD

95.67

-0.28

+0.01%

Euro

111.28

+0.21

+0.28%

Yen

97.46

+0.60

-0.24%

Oil

$48.99

+$0.66

+2.83%

10-Year

1.456%

-0.032

-7.79%

Bond

174.21875

+1.875

+2.37%

Dow

17949.37

+0.11%

+3.16%

Nasdaq

4862.56

+0.41%

+3.28%

S&P

2102.95

+0.19%

+3.22%

 
 

 

The Metals:

 

Gold gained $17.77 to $1341.47 by a little before 10AM EST before it pared back a bit into midday, but it then jumped back higher into the close and ended near its last minute high of $1344.42 with a gain of 1.51%.  Silver screamed to as high as $19.883 and ended with a gain of 4.9%.

 

Euro gold rose to about €1207, platinum gained $32 to $1057, and copper climbed 3 cents to about $2.23.

 

Gold and silver equities jumped roughly 4% higher at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

June

53.2

51.4

51.3

Construction Spending

May

-0.8%

0.5%

-2.0%

 

All of this week’s other economic reports:

 

Chicago PMI - June

56.8 v. 49.3

 

Initial Claims - 6/25

268K v. 258K

 

Pending Home Sales - May

-3.7% v. 3.9%

 

Personal Income - May

0.2% v. 0.5%

 

Personal Spending - May

0.4% v. 1.1%

 

Core PCE Price Index - May

0.2% v. 0.2%

 

Consumer Confidence - June

98.0 v. 92.4

 

Case-Shiller 20-city Index - April

5.4% v. 5.5%

 

GDP - Q1

1.1% v. 0.8%

 

GDP Deflator - Q1

0.4% v. 0.6%

 

International Trade in Goods - May

-$60.6B v. -$57.5B

 

Next week’s economic highlights include Factory Orders on Tuesday, the Trade Balance, ISM Services, and FOMC Minutes on Wednesday, ADP Employment and Initial Jobless Claims on Thursday, and June’s jobs data and Consumer Credit on Friday.

 

The Markets:

 

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

 

Oil edged higher as the U.S. dollar index fell and treasuries rose with the Dow, Nasdaq, and S&P on growing acceptance that the fed will not hike interest rates again this year.

 

Among the big names making news in the market Friday were Netflix, Spotify, and Tesla.

 

GATA Posts:

 

 

Dollar's share of global reserves slips, euro's rises, in first quarter, IMF says

British bonds go negative as Bank of England plans more money creation

Cheap gold mines disappear as buyers splurge for surging bullion

London gold trade agrees on reforms to boost transparency

 

The Statistics:

Activity from: 6/30/2016

Gold Warehouse Stocks:

9,362,137.774

+75,570.313

Silver Warehouse Stocks:

151,053,919.378

-427,417.83

 

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

950.054

30,545,174

US$40,918m

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$5,933m

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$6,559m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$480m

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: 208.17: +4.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,374.41: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Primero

PPP +17.31% $2.44

2.  Alexco

AXU +15.34% $1.88

3.  B2Gold

BTG +11.55% $2.80

 

LOSER

1.  Vista Gold

VGZ -3.65% $1.85

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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 July 2016 | E-Mail  | Print  | Source: GoldSeek.com

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