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Gold Seeker Weekly Wrap-Up: Gold Gains and Silver Slips on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 9 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1328.90

-$8.60

+0.25%

Silver

$19.07

-$0.55

-1.65%

XAU

93.46

-5.86%

-3.28%

HUI

230.06

-5.24%

-3.93%

GDM

735.62

-5.32%

-2.76%

JSE Gold

2317.20

-68.91

-2.24%

USD

95.35

+0.29

-0.54%

Euro

112.26

-0.36

+0.61%

Yen

97.40

-0.20

+1.27%

Oil

$45.88

-$1.74

+3.24%

10-Year

1.672%

+0.056

+4.76%

Bond

168.40625

-1.50

-1.48%

Dow

18085.45

-2.13%

-2.20%

Nasdaq

5125.91

-2.54%

-2.36%

S&P

2127.81

-2.45%

-2.39%

 
 

 

The Metals:

 

Gold saw slight gains in Asia before it drifted lower in London and New York, but it ended with a loss of just 0.64%.  Silver slipped to as low as $19.067 and ended with a loss of 2.8%.

 

Euro gold fell to about €1184, platinum lost $22 to $1058, and copper fell a penny to about $2.09.

 

Gold and silver equities fell throughout most of trade and ended with over 5% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

July

0.0%

0.0%

0.3%

 

Fed's Tarullo Signals Patience on Rates for More Inflation Cues Bloomberg

Fed's Rosengren backs interest-rate hike amid concerns on asset prices MarketWatch

 

All of this week’s other economic reports:

 

Consumer Credit - July

$17.7B v. $14.5B

 

Initial Claims - 9/03

259K v. 263K

 

ISM Services - August

51.4 v. 55.5

 

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

 

The Markets:

 

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

 

Oil fell nearly 4% as the U.S. dollar index rose and treasuries dropped markedly along with the Dow, Nasdaq, and S&P on hawkish fed commentary that reignited fears over rising interest rates.

 

Among the big names making news in the market Friday were Wells Fargo, Dow Chemical and DuPont, Nissan, and MasterCard.

 

GATA Posts:

 

 

Fed urges ban on Wall Street buying stakes in companies and commodities

 

The Statistics:

Activity from: 9/8/2016

Gold Warehouse Stocks:

10,892,155.289

-28,742.08

Silver Warehouse Stocks:

165,715,652.072

+1,636,846.81

 

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

950.624

30,563,505

US$40,671m

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$5,908m

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$6,545m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$477m

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 1.187 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 225.39: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,281.84: No change from yesterday’s data.

 

The Miners:

 

 No “winners” today.

LOSERS

1.  Endeavour Silver

EXK -10.47% $4.96

2.  Coeur

CDE -10.32% $13.29

3.  Almaden

AAU -10.32% $1.39

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, 9 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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