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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 2% and 4% on the Week
By: Chris Mullen, Gold-Seeker.com

 -- Published: Friday, 16 December 2016 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1133.50

+$6.10

-2.20%

Silver

$16.09

+$0.09

-4.51%

XAU

73.41

-0.40%

-8.33%

HUI

165.32

+1.12%

-6.59%

GDM

529.34

-0.11%

-7.97%

JSE Gold

1181.45

-111.42

-10.6%

USD

102.87

-0.27

+1.27%

Euro

104.43

+0.25

-1.07%

Yen

84.80

+0.21

-2.26%

Oil

$51.90

+$1.00

+0.78%

10-Year

2.597%

+0.017

+5.40%

Bond

149.00

-0.9375

-0.52%

Dow

19843.41

-0.04%

+0.44%

Nasdaq

5437.16

-0.36%

-0.13%

S&P

2258.07

-0.18%

-0.06%

 
 
http://goldseek.com/news/GoldSeeker/2016/12-16gsr/1.jpg

 

The Metals:

 

Gold gained $8.64 to $1136.04 in London before it fell back to $1127.80 at about 11AM EST, but it then jumped up to $1141.03 in the next hour of trade and ended with a gain of 0.54%.  Silver rose to as high as $16.25 and ended with a gain of 0.56%.

 

Euro gold rose to about €1086, platinum gained $30.50 to $923, and copper fell 4 cents to about $2.55.

 

Gold and silver equities rose as much as 3% by midday before they chopped back lower in late trade, but they still mostly higher on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Housing Starts

Nov

1090K

1225K

1340K

Building Permits

Nov

1201K

1236K

1260K

 

All of this week’s other economic reports:

 

Net Long-Term TIC Flows - October

$9.4B v. -$26.2B

 

Empire Manufacturing - December

9.0 v. 1.5

 

Philadelphia Fed - December

21.5 v. 7.6

 

NAHB Housing Market Index - December

70 v. 63

 

Current Account Balance - Q3

-$113.0B v. -$118.3B

 

CPI - November

0.2% v. 0.4%

 

Core CPI - November

0.2% v. 0.1%

 

Initial Claims - 12/10

254K v. 258K

 

FOMC Rate Decision - 12/14

0.625% v. 0.375%

 

Business Inventories - October

-0.2% v. 0.0%

 

Industrial Production - November

-0.4% v. 0.1%

 

Capacity Utilization - November

75.0% v. 75.4%

 

Retail Sales - November

0.1% v. 0.6%

 

Retail Sales ex-auto - November

0.2% v. 0.6%

 

PPI - November

0.4% v. 0.0%

 

Core PPI - November

0.4% v. -0.2%

 

Export Prices - November

-0.1% v. 0.2%

 

Export Prices ex-ag. - November

-0.1% v. 0.2%

 

Import Prices - November

-0.3% v. 0.4%

 

Import Prices ex-oil - November

-0.1% v. -0.1%

 

Treasury Budget - November

-$137.0B v. -$56.8B

 

Next week’s economic highlights include Existing Home Sales on Wednesday, GDP, Initial Jobless Claims, Durable Goods Orders, the FHFA Housing Price Index, Leading Indicators, and Personal Income and Spending on Thursday, and Michigan Sentiment and New Home Sales on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/12-16gsr/1.png

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

 

Oil gained 2% on signs that producers are following through with their pledged production cuts.

 

The U.S. dollar index fell and treasuries traded mixed as the Dow, Nasdaq, and S&P turned slightly lower on geopolitical uncertainty after China “seized an underwater drone deployed by a U.S. oceanographic vessel in the South China Sea.”

 

Among the big names making news in the market Friday were Wells Fargo, Chipotle, Oracle, Deutsche Bank, and Viacom.

 

GATA Posts:

 

 

Gold premiums in China at 3-year high as Indian demand stays weak

Gold chart annotated with exchanges between market-manipulating traders

Avery Goodman: The Trump administration looks friendly toward a gold standard

Ted Butler: The royal flush

 

The Statistics:

Activity from: 12/15/2016

Gold Warehouse Stocks:

9,215,232.433

-116,711.91

Silver Warehouse Stocks:

182,099,347.156

+593,769.38

 

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

842.327

27,081,645

US$30,640m

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$5,066m

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$5,599m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$407m

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 7.114 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.35: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,534.54: -73.74 change from yesterday’s data.

 

The Miners:

 

Agnico Eagle’s (AEM) mine accident, Gold Reserve’s (GRZ.V) pending settlement, Turquoise Hill’s (TRQ) 2017 production and financial guidance, Goldcorp’s (GG) new COO, Eurasian Minerals’ (EMXX) changing ticker symbol, Eldorado Gold’s (EGO) retiring  CEO, International Tower Hill’s (THM) private placement financing, B2Gold’s (BTG) acquisition of shares in  Calibre Mining Corp., and Golden Minerals’ (AUMN) exploration update were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  B2Gold

BTG +6.83% $2.19

2.  Alexco

AXU +6.40% $1.33

3.  DRDGOLD

DRD +4.28% $4.39

 

LOSERS

1.  Seabridge

SA -6.10% $7.70

2.  Freeport

FCX -5.34% $13.83

3.  Kinross

KGC -3.19% $3.03

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

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