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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall on the Week Before Breaking News of Turkey Coup
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 15 July 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1328.50

-$5.30

-2.83%

Silver

$20.07

-$0.18

-0.59%

XAU

107.73

-0.62%

+0.76%

HUI

267.74

-0.61%

-0.93%

GDM

830.70

-1.17%

-1.49%

JSE Gold

2770.41

+38.18

+3.80%

USD

96.52

+0.41

+0.25%

Euro

110.66

-0.48

+0.11%

Yen

94.88

-0.02

-4.68%

Oil

$45.95

+$0.27

+1.19%

10-Year

1.594%

+0.063

+16.69%

Bond

171.6875

-1.3125

-2.97%

Dow

18516.55

+0.05%

+2.04%

Nasdaq

5029.59

-0.09%

+1.47%

S&P

2161.74

-0.09%

+1.49%

 
 
http://goldseek.com/news/GoldSeeker/2016/7-15gsr/1.jpg

 

The Metals:

 

Gold edged down to $1326.59 in Asia before it bounced back to $1336.05 in London and then fell to a new session low of $1322.69 at about 9:30AM EST in New York, but it then bounced back higher into the close and ended with a loss of just 0.4%.  Silver slipped to as low as $20.047 and ended with a loss of 0.89%.

 

Breaking news after stocks closed has gold up over $10 in after-hours trade as I publish:

 

http://goldseek.com/news/GoldSeeker/2016/7-15gsr/2.jpg

 

Turkish military launch attempted coup to depose government

Turkish Premier Says Elements of Army Attempt to Seize Power

 

Euro gold remained at about €1200, platinum lost $12 to $1086, and copper remained at about $2.24.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Empire Manufacturing

July

0.55

5.0

6.0

Retail Sales

June

0.6%

0.2%

0.2%

Retail Sales ex-auto

June

0.7%

0.4%

0.4%

CPI

June

0.2%

0.3%

0.2%

Core CPI

June

0.2%

0.2%

0.2%

Capacity Utilization

June

75.4%

75.0%

74.9%

Industrial Production

June

0.6%

0.2%

-0.3%

Business Inventories

May

0.2%

0.2%

0.1%

Michigan Sentiment

July

89.5

93

93.5

 

All of this week’s other economic reports:

 

PPI - June

0.5% v. 0.4%

 

Core PPI - June

0.4% v. 0.3%

 

Initial Claims - 7/09

254K v. 254K

 

Treasury Budget - June

$6.3B v. $50.5B

 

Import Prices - June

0.2% v. 1.4%

 

Import Prices ex-oil - June

-0.3% v. 0.3%

 

Export Prices - June

0.8% v. 1.2%

 

Export Prices ex-ag. - June

0.5% v. 1.0%

 

Wholesale Inventories - May

0.1% v. 0.7%

 

Next week’s economic highlights include the NAHB Housing Market Index and Net Long-Term TIC Flows on Monday, Building Permits and Housing Starts on Tuesday, and Initial Jobless Claims, the Philadelphia Fed, the FHFA Housing Price Index, and Existing Home Sales on Thursday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/7-15gsr/1.png

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

 

Oil rose along with the U.S. dollar index on mostly better than expected economic data that sent treasuries lower.

 

The Dow, Nasdaq, and S&P traded mixed on slightly disappointing earnings reports.

 

Among the big names making news in the market Friday were Citigroup, Wells Fargo, and Herbalife.

 

GATA Posts:

 

 

Bernanke recommended 'helicopter money' option to Japan

 

The Statistics:

Activity from: 7/14/2016

Gold Warehouse Stocks:

9,812,213.768

+95,863.347

Silver Warehouse Stocks:

152,701,466.697

+900,685.703

 

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

962.845

30,956,432

US$41,072m

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$5,903m

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$6,524m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$477m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.88

1,121,361

US$1,417m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.376 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 214.90: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,842.07: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Avino

ASM +3.36% $3.08

2.  Tanzanian Royalty

TRX +1.94% $1.05

3.  Gold Resource

GORO +1.69% $5.42

 

LOSERS

1.  Almaden

AAU -5.84% $1.45

2.  Pretivm

PVG -5.05% $11.46

3.  Exeter

XRA -4.20% $1.37

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

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