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

 -- Published: Friday, 28 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1274.90

+$5.80

+0.61%

Silver

$17.77

+$0.14

+1.31%

XAU

84.78

+0.61%

-2.41%

HUI

207.04

+0.37%

-4.57%

GDM

661.93

+0.44%

-3.22%

JSE Gold

1746.64

-14.99

-8.34%

USD

98.32

-0.57

-0.32%

Euro

109.85

+0.84

+0.96%

Yen

95.48

+0.44

-0.88%

Oil

$48.70

-$1.02

-4.23%

10-Year

1.845%

+0.002

+6.03%

Bond

162.1875

-0.25

-1.70%

Dow

18161.19

-0.05%

+0.09%

Nasdaq

5190.10

-0.50%

-1.28%

S&P

2126.41

-0.31%

-0.69%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-28gsr/1.jpg

 

The Metals:

 

Gold dipped $6.51 to $1262.59 by a little before 9AM EST before it jumped up to $1284.07 in early afternoon trade and then chopped back lower into the close, but it still ended with a gain of 0.46%.  Silver rose to as high as $17.881 and ended with a gain of 0.79%.

 

Euro gold fell to about €1161, platinum gained $15 to $978, and copper climbed 3 cents to about $2.19.

 

Gold and silver equities waffled near unchanged and ended with modest gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

GDP

Q3

2.9%

2.5%

1.4%

Chain Deflator

Q3

1.5%

1.4%

2.3%

Employment Cost Index

Q3

0.6%

0.6%

0.6%

Michigan Sentiment

Oct

87.2

88.2

87.9

 

All of this week’s other economic reports:

 

Pending Home Sales - September

1.5% v. -2.5%

 

Durable Orders - September

-0.1% v. 0.3%

 

Durable Orders, Ex-Trans. - September

0.2% v. 0.1%

 

Initial Claims - 10/22

258K v. 261K

 

New Home Sales - September

593K v. 575K

 

International Trade in Goods - September

-$56.1B v. -$59.1B

 

Case-Shiller 20-city Index - August

5.1% v. 5.0%

 

FHFA Housing Price Index - August

0.7% v. 0.5%

 

Next week’s economic highlights include Personal Income and Spending, the Core PCE Price Index, and Chicago PMI on Monday, the ISM Index and Construction Spending on Tuesday, ADP Employment and a FOMC Rate Decision on Wednesday, Initial Jobless Claims, Productivity, Factory Orders, and ISM Services on Thursday, and October’s jobs data and the Trade Balance on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-28gsr/1.png

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

 

Oil fell over 2% on uncertainty about OPEC’s production deal.

 

The U.S. dollar index dropped “after federal government data showing a deceleration in U.S. consumer spending in the third quarter overshadowed a stronger-than-expected overall economic growth reading.”

 

Treasuries held near unchanged and the Dow, Nasdaq, and S&P turned lower on concerns about the FBI’s investigation of Hillary Clinton's use of a private email system.

 

Among the big names making news in the market Friday were Chevron, BMW, MasterCard, Apple, Microsoft, and Amazon.

 

GATA Posts:

 

 

Egon von Greyerz: Except in dollars, gold is near the 2011 highs

Last chance to purchase GATA conference video discs and WSJ ad posters

 

The Statistics:

Activity from: 10/27/2016

Gold Warehouse Stocks:

10,564,529.982

-128.60

Silver Warehouse Stocks:

173,463,317.567

+256,728.17

 

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

942.589

30,305,189

US$38,567m

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$5,629m

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$6,221m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

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: 230.55: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,218.19: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty (TRX) loan agreements, Buenaventura’s (BVN) third quarter results, Northern Dynasty’s (NAK) mediation with the EPA, and Penoles’ (PENOLES.MX) third quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  New Gold

NGD +6.08% $4.01

2.  Alexco

AXU +4.57% $1.83

3.  NovaGold

NG +3.98% $4.96

 

LOSERS

1.  Yamana

AUY -5.00% $3.42

2.  Buenaventura

BVN-2.71% $12.91

3.  Alamos

AGI -2.54% $7.68

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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

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