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Gold Seeker Weekly Wrap-Up: Gold Dips 1% on the Week While Silver Gains 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 9 December 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1159.00

-$11.80

-1.42%

Silver

$16.85

-$0.16

+1.02%

XAU

80.08

-3.01%

-2.70%

HUI

176.99

-4.10%

-3.49%

GDM

575.17

-3.36%

-3.00%

JSE Gold

1321.51

-39.71

-7.42%

USD

101.58

+0.47

+0.88%

Euro

105.56

-0.58

-1.00%

Yen

86.76

-0.93

-1.48%

Oil

$51.50

+$0.66

-0.35%

10-Year

2.464%

+0.077

+3.10%

Bond

149.78125

-1.5625

-1.28%

Dow

19756.85

+0.72%

+3.06%

Nasdaq

5444.50

+0.50%

+3.59%

S&P

2259.53

+0.59%

+3.08%

 
 
http://goldseek.com/news/GoldSeeker/2016/12-9gsr/1.jpg

 

The Metals:

 

Gold edged up to $1172.01 in late Asian trade, but it then chopped back lower in London and New York and ended near its midafternoon low of $1156.46 with a loss of 1.01%.  Silver slipped to as low as $16.791 and ended with a loss of 0.94%.

 

Euro gold fell to about €1098, platinum lost $25 to $911, and copper climbed 3 cents to about $2.65.

 

Gold and silver equities fell about 4% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Michigan Sentiment

Dec

98.0

94.3

93.8

Wholesale Inventories

Oct

-0.4%

-0.4%

0.1%

 

Trump offers Goldman Sachs President Gary Cohn directorship of National Economic Council  CNBC

 

All of this week’s other economic reports:

 

Initial Claims - 12/03

258K v. 268K

 

Consumer Credit - October

$16.0B v. $21.8B

 

Factory Orders - October

2.7% v. 0.6%

 

Trade Balance - October

-$42.6B v. -$36.2B

 

Productivity - Q3

3.1% v. 3.1%

 

Unit Labor Costs - Q3

0.7% v. 0.3%

 

ISM Services - November

57.2 v. 54.8

 

Next week’s economic highlights include the Treasury Budget on Monday, Export and Import Prices on Tuesday, Retail Sales, PPI, Industrial Production, Capacity Utilization, Business Inventories, and a FOMC Rate Decision on Wednesday, Initial Jobless Claims, CPI, the Philadelphia Fed, Empire Manufacturing, the Current Account Balance, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Thursday, and Housing Starts and Building Permits on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/12-9gsr/1.png

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

 

Oil gained over 1% more on continued confidence that producers will stick to output cuts.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P climbed to new record highs on economic optimism.

 

Among the big names making news in the market Friday were Twenty-First Century Fox, Coca-Cola, Wal-Mart, and Wells Fargo.

 

GATA Posts:

 

 

South Africa's Sibanye Gold to buy Stillwater Mining for $2.2 billion in latest platinum push

Deutsche Bank proves what GATA told CFTC six years ago, Murphy tells GoldSeek Radio

Avery Goodman: The mysterious case of 186 tonnes of missing gold

 

The Statistics:

Activity from: 12/8/2016

Gold Warehouse Stocks:

9,541,870.241

-114,380.593

Silver Warehouse Stocks:

179,458,010.853

-638,487.45

 

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

860.706

27,672,566

US$32,197m

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$5,165m

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$5,702m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$417m

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 2.965 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.06: -0.63 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,664.32: -97.34 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Freeport

FCX +0.96% $15.75

2.  Vista Gold

VGZ +0.95% $1.06

 

LOSERS

1.  Paramount

PZG -13.83% $1.62

2.  Harmony

HMY -8.77% $2.08

3.  McEwen

MUX -8.67% $2.95

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, 9 December 2016 | E-Mail  | Print  | Source: GoldSeek.com

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