Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Give Back Friday’s Gains
By: Chris Mullen, Gold Seeker Report

Operation Twist By Another Name and Method?
By: Gary Tanashian

SWOT Analysis: Gold Bounced Back After Attempts to Knock Down Price
By: Frank Holmes

Hyperinflation in Zimbabwe – It’s back, but maybe not for long
By: JP Koning

Gold Versus Bitcoin: The Pro-Gold Argument Takes Shape
By: John Rubino

Inflation and Counterfeit Credit
By: Keith Weiner

Gold's Interesting Day
By: Rick Ackerman

Two Scenarios, One Strategy
By: Gary Savage

Zinc One Files a Technical Report on Scotia Property
By: Zinc One Resources Inc.

Money and Markets Infographic Shows Silver Most Undervalued Asset
By: GoldCore

 
Search

GoldSeek Web

 
Gold Seeker Weekly Wrap-Up: Gold Gains and Silver Rises Over 4% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 2 September 2016 | Print  | Disqus 

Please Note: US Markets are closed on Monday for Labor Day.

 

 

Close

Gain/Loss

On Week

Gold

$1325.60

+$12.30

+0.34%

Silver

$19.39

+$0.52

+4.02%

XAU

96.63

+3.55%

+0.87%

HUI

239.48

+3.55%

+0.73%

GDM

756.49

+3.60%

+0.30%

JSE Gold

2370.37

-1.35

-6.52%

USD

95.87

+0.25

+0.40%

Euro

111.58

-0.40

-0.34%

Yen

96.18

-0.66

-2.07%

Oil

$44.44

+$1.28

-6.72%

10-Year

1.596%

+0.026

-2.39%

Bond

170.9375

-1.00

+0.22%

Dow

18491.96

+0.39%

+0.52%

Nasdaq

5249.90

+0.43%

+0.59%

S&P

2179.98

+0.42%

+0.50%

 
 

 

The Metals:

 

Gold dipped $3.47 to $1309.83 in Asia before it jumped up to $1327.70 after the release of this morning’s jobs data and then fell back off into midday, but it then rallied back higher in afternoon trade and ended with a gain of 0.94%.  Silver surged to as high as $19.405 and ended with a gain of 2.76%. 

 

Euro gold rose to about €1188, platinum gained $18 to $1062, and copper remained at about $2.09.

 

Gold and silver equities rose over 4% at the open before they chopped back lower at times, but they still ended over 3.5% higher on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Aug

151K

180K

275K

Unemployment Rate

Aug

4.9%

4.8%

4.9%

Hourly Earnings

Aug

0.1%

0.2%

0.3%

Average Workweek

Aug

34.3

34.5

34.4

Trade Balance

July

-$39.5B

-$43.0B

-$44.7B

Factory Orders

July

1.9%

2.0%

-1.8%

 

The BLS net birth/death adjustment added 106,000 payrolls to August’s data.  Private Payrolls rose 126,000.

 

Traders trim bets on Fed rate hike as U.S. job gains slow  Reuters

 

All of this week’s other economic reports:

 

ISM Index - August

49.4 v. 52.6

 

Construction Spending - July

0.0% v. 0.9%

 

Productivity - Q2

-0.6% v. -0.5%

 

Unit Labor Costs - Q2

4.3% v. 2.0%

 

Initial Claims - 8/27

263K v. 261K

 

Pending Home Sales - July

1.3% v. -0.8%

 

Chicago PMI - August

51.5 v. 55.8

 

ADP Employment - August

177K v. 194K

 

Consumer Confidence - August

101.1 v. 96.7

 

Case-Shiller 20-city Index - June

5.1% v. 5.3%

 

Personal Income - July

0.4% v. 0.3%

 

Personal Spending - July

0.3% v. 0.5%

 

Core PCE Prices - July

0.1% v. 0.1%

 

Next week’s economic highlights include ISM Services on Tuesday, the Fed's Beige Book 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 rose 3% after Putin renewed talks about a possible production freeze.

 

The U.S. dollar index initially spiked lower after this morning’s jobs data reduced expectations for a fed rate hike in September, but it then climbed back higher as treasuries fell on speculation that the data is strong enough to support a hike in December.

 

The Dow, Nasdaq, and S&P traded mostly higher on hopes for continued easy monetary policy in the near future.

 

Among the big names making news in the market Friday were Petrobras, Apple, Louis Vuitton, UPS, and Samsung.

 

GATA Posts:

 

 

Zero Hedge: Deutsche Bank tries to explain why it failed to deliver gold as promised

GATA board member Ed Steer interviewed about gold market manipulation

 

The Statistics:

Activity from: 9/1/2016

Gold Warehouse Stocks:

10,933,828.789

+956.21

Silver Warehouse Stocks:

162,231,816.247

-689,185.05

 

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

937.890

30,154,105

US$39,930m

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$475m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.342 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 225.44: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,189.28: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, Tanzanian Royalty’s (TRX) financing, and Primero’s (PPP) new CFO were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Vista Gold

VGZ +11.7% $1.08

2.  Paramount

PZG +11.11% $1.90

3.  Exeter

XRA +10.26% $1.29

 

LOSERS

1.  Eurasian

EMXX -2.75% $1.06

2.  Primero

PPP -0.61% $1.62

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

 

- 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.

 


| Digg This Article
 -- Published: Friday, 2 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.