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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% and 1% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 25 November 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1181.40

-$7.20

-2.23%

Silver

$16.48

+$0.13

-1.09%

XAU

79.13

+0.26%

-0.23%

HUI

175.76

+0.63%

-3.48%

GDM

570.89

-0.41%

-2.50%

JSE Gold

1435.61

+24.73

-6.03%

USD

101.50

-0.18

+0.20%

Euro

106.01

+0.51

+0.07%

Yen

88.42

-0.50

-1.95%

Oil

$46.43

-$1.53

+1.62%

10-Year

2.372%

+0.015

+1.58%

Bond

152.84375

+0.4375

-0.20%

Dow

19152.14

+0.36%

+1.51%

Nasdaq

5398.92

+0.34%

+1.45%

S&P

2213.35

+0.39%

+1.44%

 
 
http://goldseek.com/news/GoldSeeker/2016/11-25gsr/1.jpg

 

The Metals:

 

Gold dropped $17.16 to $1171.44 at the open of trade in Asia before it bounced back to $1193.03 by a little before 4AM EST, but it then drifted back lower in New York and ended with a loss of 0.61%.  Silver slipped to $16.182 before it rallied to as high as $16.582 and then also fell back off, but it still ended with a gain of 0.8%.

 

Euro gold fell to about €1116, platinum lost $26 to $902, and copper climbed 5 cents to about $2.67.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

International Trade in Goods

Oct

-$62.0B

-

-$56.1B

Wholesale Inventories

Oct

-0.4%

0.2%

0.1%

 

All of this week’s other economic reports:

 

New Home Sales - October

563K v. 574K

 

Michigan Sentiment - November

93.8 v. 91.6

 

FHFA Housing Price Index - September

0.6% v. 0.7%

 

Durable Orders - October

4.8% v. 0.4%

 

Durable Orders, Ex-Trans. - October

1.0% v. 0.2%

 

Initial Claims - 11/19

251K v. 233K

 

Existing Home Sales - October

5.60M v. 5.49M

 

Next week’s economic highlights include GDP, the Case-Shiller 20-city Index, and Consumer Confidence on Tuesday, ADP Employment, Personal Income and Spending, Chicago PMI, Pending Home Sales, and the Fed's Beige Book on Wednesday, Initial Jobless Claims, Construction Spending, and the ISM Index on Thursday, and November’s jobs data on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/11-25gsr/1.png

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

 

Oil fell over 3% on uncertainty about what OPEC will do.

 

The U.S. dollar index dropped on profit taking.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P rose to new record highs on economic optimism.

 

Among the big names making news in the market Friday were Daimler, Actelion, Wal-Mart, Target, and Amazon.

 

GATA Posts:

 

 

John Crudele: Retail sales numbers are fake but the harm is real

John Hathaway: What does Trump's victory mean for gold?

 

The Statistics:

As of close of business: 11/22/2016

Gold Warehouse Stocks:

9,902,498.403

-3,118.55

Silver Warehouse Stocks:

178,332,706.360

+1,137,921.19

 

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

891.567

28,664,771

US$34,035m

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$5,239m

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$5,799m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$424m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 13.343 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 205.24: -0.54 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,796.00: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Harmony

HMY +3.65% $2.27

2.  AngloGold

AU +2.74% $10.88

3.  Agnico-Eagle

AEM +2.61% $40.88

 

LOSERS

1.  Gold Standard

GSV -4.87% $2.15

2.  Alexco

AXU -3.68% $1.31

3.  Almaden

AAU -2.78% $1.05

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, 25 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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