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

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




On Week





















JSE Gold










































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


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:



Silver Warehouse Stocks:





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.



1.  Exeter

XRA +2.65% $1.16

2.  Turquoise

TRQ +2.31% $3.10


IAG +2.24% $4.10



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 is given.



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