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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 2% and 5% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 23 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1337.90

+$0.80

+2.06%

Silver

$19.66

$-0.24

+4.74%

XAU

95.76

-3.05%

+4.66%

HUI

235.13

-2.81%

+4.19%

GDM

750.64

-2.89%

+4.71%

JSE Gold

2158.42

-23.86

+3.56%

USD

95.49

+0.08

-0.62%

Euro

112.32

+0.25

+0.68%

Yen

98.97

-0.25

+1.32%

Oil

$44.48

-$1.84

+3.37%

10-Year

1.615%

-0.017

-5.06%

Bond

167.75

+0.25

+0.34%

Dow

18261.45

-0.71%

+0.76%

Nasdaq

5305.75

-0.63%

+1.17%

S&P

2164.69

-0.57%

+1.19%

 
 
http://goldseek.com/news/GoldSeeker/2016/9-23gsr/1.jpg

 

The Metals:

 

Gold edged down to $1333.80 in Asia before it climbed up to $1340.56 in early New York trade and then chopped back lower into the close, but it still ended with a gain of 0.06%.  Silver slipped to as low as $19.585 and ended with a loss of 1.21%.

 

Euro gold fell to about €1192, platinum lost $2 to $1050, and copper remained at about $2.20.

 

Gold and silver equities fell about 3% by midafternoon and remained near that level into the close.

 

The Economy:

 

Boston Fed's Rosengren says economy needs 'modest, gradual tightening now'  Reuters

N.Y. Fed lowers outlook on U.S. GDP growth for third and fourth quarters  Reuters

Manufacturing PMI in September slips to three-month low  MarketWatch

 

All of this week’s other economic reports:

 

Leading Indicators - August

-0.2% v. 0.5%

 

Existing Home Sales - August

5.33M v. 5.38M

 

FHFA Housing Price Index - July

0.5% v. 0.3%

 

Initial Claims - 9/17

252K v. 260K

 

Housing Starts - August

1142K v. 1212K

 

Building Permits - August

1139M v. 1144K

 

NAHB Housing Market Index - September

65 v. 60

 

Next week’s economic highlights include New Home Sales on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, Durable Goods Orders and GDP on Wednesday, Initial Jobless Claims, International Trade in Goods, and Pending Home Sales on Thursday, and Personal Income and Spending, Core PCE Prices, Chicago PMI, and Michigan Sentiment on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/9-23gsr/1.png

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

 

Oil fell 4% after Saudi Arabia cast doubt that a production deal will be reached at OPEC’s next meeting.

 

The U.S. dollar index bounced back from this week’s post-fed losses.

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped on worries about oil and the effectiveness of central bank policy.

 

Among the big names making news in the market Friday were Toys ‘R’ Us, Freeport-McMoran, Deutsche Bank, and Twitter.

 

GATA Posts:

 

 

Allan Flynn: Monetary metals manipulation lawsuits hanging by a thread

 

The Statistics:

Activity from: 9/22/2016

Gold Warehouse Stocks:

10,687,511.585

-17,614.266

Silver Warehouse Stocks:

170,335,441.288

-675,923.50

 

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

950.919

30,572,995

US$40,916m

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$5,937m

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$6,573m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$480m

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 added 6.528 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 223.81: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,305.47: No change from yesterday’s data.

 

The Miners:

 

WINNER

1.  Vista Gold

VGZ +1.27% $1.04

 

LOSERS

1.  McEwen

MUX -6.22% $3.77

2.  First Majestic

AG -5.94% $11.25

3.  Richmont

RIC -5.08% $10.47

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

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