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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 1% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 21 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1267.20

+$1.10

+1.26%

Silver

$17.54

+$0.01

+0.52%

XAU

86.87

-0.69%

+7.21%

HUI

216.96

-0.39%

+8.75%

GDM

683.95

-0.74%

+7.03%

JSE Gold

1905.54

+24.61

+4.82%

USD

98.64

+0.32

+0.55%

Euro

108.81

-0.47

-0.82%

Yen

96.33

+0.14

+0.40%

Oil

$50.85

+$0.22

+0.99%

10-Year

1.740%

-0.007

-3.01%

Bond

165.00

+0.34375

+1.19%

Dow

18145.71

-0.09%

+0.04%

Nasdaq

5257.40

+0.30%

+0.83%

S&P

2141.16

-0.01%

+0.38%

 
 

 

The Metals:

 

Gold fell $4.90 to $1261.20 in Asia before it bounced back to $1267.91 in early New York trade and then drifted back lower into midday, but it then edged back higher into the close and ended with a gain of 0.09%.  Silver rose to as high as $17.55 and ended with a gain of 0.06%.

 

Euro gold rose to about €1164, platinum lost $1 to $928, and copper remained at about $2.10.

 

Gold and silver equities traded mostly slightly lower and ended with modest losses.

 

The Economy:

 

Fed's Tarullo wants academics to focus more on bank liabilities rather than capital MarketWatch

U.S. mall investors set to lose billions as retail gloom deepens Reuters

 

All of this week’s economic reports:

 

Leading Indicators - September

0.2% v. -0.2%

 

Existing Home Sales - September

5.47M v. 5.30M

 

Philadelphia Fed - October

9.7 v. 12.8

 

Initial Claims - 10/15

260K v. 247K

 

Building Permits - September

1225K v. 1152K

 

Housing Starts - September

1047K v. 1150K

 

Net Long-Term TIC Flows - August

$48.3B v. $102.8B

 

NAHB Housing Market Index - October

63 v. 65

 

CPI - September

0.3% v. 0.2%

 

Core CPI - September

0.1% v. 0.3%

 

Capacity Utilization - September

75.4% v. 75.3%

 

Industrial Production - September

0.1% v. -0.5%

 

Empire Manufacturing - October

-6.8 v. -2.0

 

Next week’s economic highlights include the Case-Shiller 20-city Index, the FHFA Housing Price Index, and Consumer Confidence on Tuesday, International Trade in Goods and New Home Sales on Wednesday, Initial Jobless Claims, Durable Goods Orders, and Pending Home Sales on Thursday, and GDP and Michigan Sentiment on Friday.

 

The Markets:

 

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

 

Oil ended slightly higher “after Russian energy minister Alexander Novak reportedly reiterated the need for coordinated action among major oil producers to stem a two-year slide in prices.”

 

The U.S. dollar index rose as the euro continued to fall “after Mario Draghi said quantitative easing is unlikely to come to an “abrupt” end, making traders more confident that unprecedented monetary stimulus will continue beyond its planned end date.”

 

Treasuries saw slight gains as the Dow, Nasdaq, and S&P traded mostly lower on mixed earnings reports.

 

Among the big names making news in the market Friday were AT&T and Time Warner, Microsoft, Bombardier, GE, Reynolds, and McDonald’s.

 

GATA Posts:

 

 

Yuan's inclusion in SDR did nothing for gold, GATA chairman notes

 

The Statistics:

Activity from: 10/20/2016

Gold Warehouse Stocks:

10,529,985.453

+66,423.967

Silver Warehouse Stocks:

174,638,351.530

+600,955.41

 

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 228.16: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,294.92: No change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) filed technical report, Alamos Gold’s (AGI) investment in Corex Gold, and Avino’s (ASM) new resource estimate were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Exeter

XRA +2.65% $1.16

2.  Turquoise

TRQ +2.31% $3.10

3.  IAMGOLD

IAG +2.24% $4.10

 

LOSERS

1.  Gold Standard

GSV -3.83% $2.51

2.  Paramount

PZG -3.74% $1.81

3.  Avino

ASM -2.93% $1.99

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

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