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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 5% and 9% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 7 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1255.00

+$0.70

-4.74%

Silver

$17.46

+$0.14

-8.87%

XAU

81.32

-0.15%

-13.49%

HUI

199.26

-0.03%

-13.79%

GDM

637.40

-0.06%

-13.19%

JSE Gold

1794.68

+0.67

-15.16%

USD

96.50

-0.18

+1.05%

Euro

112.00

+0.52

-0.34%

Yen

97.16

+1.01

-1.50%

Oil

$49.81

-$0.63

+3.25%

10-Year

1.736%

-0.006

+7.96%

Bond

165.03125

-0.03125

-1.97%

Dow

18240.49

-0.15%

-0.37%

Nasdaq

5292.40

-0.27%

-0.37%

S&P

2153.74

-0.33%

-0.67%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-7gsr/1.jpg

 

The Metals:

 

Gold jumped up to $1264.23 after the release of this morning’s jobs data before it fell back to $1242.42 in early afternoon New York trade, but it then rallied back higher into the close and ended with a gain of 0.06%.  Silver rose to as high as $17.612 and ended with a gain of 0.81%.

 

Euro gold fell to about €1121, platinum gained $5.50 to $964, and copper climbed a penny to about $2.17.

 

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

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Sep

156K

176K

167K

Unemployment Rate

Sep

5.0%

4.9%

4.9%

Hourly Earnings

Sep

0.2%

0.2%

0.1%

Average Workweek

Sep

34.4

34.4

34.3

Wholesale Inventories

Aug

-0.2%

-0.1%

-0.1%

Consumer Credit

Aug

$25.8B

$18.0B

$17.8B

 

The BLS net birth/death adjustment subtracted 57,000 payrolls from September’s data.  Private Payrolls rose 167,000.

 

All of this week’s other economic reports:

 

Initial Claims - 10/01

249K v. 254K

 

ISM Services - September

57.1 v. 51.4

 

Factory Orders - August

0.2% v. 1.4%

 

Trade Balance - August

-$40.7B v. -$39.5B

 

ADP Employment - September

154K v. 175K

 

Construction Spending - August

-0.7% v. -0.3%

 

ISM Index - September

51.5 v. 49.4

 

Next week’s economic highlights include FOMC Minutes on Wednesday, Initial Jobless Claims, Export and Import Prices, and the Treasury Budget on Thursday, and PPI, Retail Sales, Business Inventories, and Michigan Sentiment on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-7gsr/1.png

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

 

Oil fell over 1% “after Russia cast doubt over a deal any time soon with OPEC.”

 

The U.S. dollar index dropped and treasuries traded mixed on disappointing jobs data that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market Friday were AIG, Tyson Foods, Deutsche Bank, Apple, Samsung, and Gap.

 

GATA Posts:

 

 

Lawrie Williams: How long for gold market to be controlled by paper non-transactions?

Gold likely to rebound Monday when China resumes trading, Maguire says

 

The Statistics:

Activity from: 10/6/2016

Gold Warehouse Stocks:

10,692,727.644

-1,934.67

Silver Warehouse Stocks:

174,832,968.838

+119,644.37

 

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

947.629

30,467,218

US$38,348m

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$5,563m

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$6,102m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$450m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

 Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 227.23: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,206.36: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Gold Standard

GSV +12.79% $2.47

2.  Avino

ASM +10.92% $1.93

3.  Eurasian

EMXX +6.56% $1.05

 

LOSERS

1.  Gold Resource

GORO-4.37% $5.25

2.  NovaGold

NG -4.22% $4.09

3.  New Gold

NGD -3.02% $3.85

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

 

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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, 7 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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