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

 -- Published: Friday, 20 January 2017 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1207.60

+$2.80

+0.78%

Silver

$17.07

+$0.07

+1.61%

XAU

88.68

+1.28%

+1.88%

HUI

202.63

+1.08%

+1.68%

GDM

644.51

+1.02%

+1.73%

JSE Gold

1442.54

-9.12

+1.10%

USD

100.84

-0.31

-0.40%

Euro

106.96

+0.32

+0.55%

Yen

87.33

+0.30

+0.06%

Oil

$52.42

+$1.05

+0.10%

10-Year

2.467%

+0.008

+3.66%

Bond

150.71875

-0.34375

-0.88%

Dow

19827.25

+0.48%

-0.29%

Nasdaq

5555.33

+0.28%

-0.34%

S&P

2271.31

+0.34%

-0.15%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-20gsr/1.jpg

 

The Metals:

 

Gold gained $4.26 to $1209.06 in Asia before it fell back to $1198.66 in London, but it then jumped up to $1214.79 in afternoon New York trade and ended with a gain of 0.23%.  Silver rose to as high as $17.148 and ended with a gain of 0.41%.

 

Euro gold fell to about €1129, platinum gained $15.50 to $971.50, and copper remained at about $2.62.

 

Gold and silver equities rose over 1% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Trumponomics may be wrong medicine for U.S. economy today  Reuters

Fed likely to start shrinking balance sheet this year: Harker  MarketWatch

Yellen Backs Gradual Rate Rises as Fed Not Behind the Curve  Bloomberg

 

All of this week’s other economic reports:

 

Philadelphia Fed - January

23.6 v. 19.7

 

Housing Starts - December

1226K v. 1102K

 

Building Permits - December

1210K v. 1212K

 

Initial Claims - 1/14

234K v. 249K

 

NAHB Housing Market Index - January

67 v. 69

 

Industrial Production - December

0.8% v. -0.7%

 

Capacity Utilization - December

75.5% v. 74.9%

 

CPI - December

0.3% v. 0.2%

 

Core CPI - December

0.2% v. 0.2%

 

Empire Manufacturing - January

6.5 v. 9.0

 

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

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-20gsr/1.png

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

 

Oil gained 2% “on expectations that this weekend's meeting of the world's top oil producers would demonstrate compliance to a global output cut deal.”

 

The U.S. dollar index fell as the euro continued higher after yesterday’s ECB decision to leave rates unchanged.

 

Treasuries edged lower as the Dow, Nasdaq, and S&P remained higher after Trump’s inauguration speech.

 

Among the big names making news in the market Friday were GE, AIG, and Mitsubishi.

 

GATA Posts:

 

 

GATA board member Ed Steer interviewed by financial letter writer Dennis Miller

Mnuchin says long-term strength of U.S. dollar is important

 

The Statistics:

Activity from: 1/19/2017

Gold Warehouse Stocks:

8,980,970.936

-

Silver Warehouse Stocks:

180,131,209.068

-88,352.725

 

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

807.960

25,976,712

US$31,180m

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$5,346m

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$5,908m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$433m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.75: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,524.06: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Northern Dynasty

NAK +6.91% $2.63

2.  Gold Standard

GSV +4.67% $2.24

3.  Eldorado

EGO +3.59% $3.46

 

LOSERS

1.  Great Panther

GPL -1.10% $1.80

2.  Nevsun

NSU -0.31% $3.20

3.  AngloGold

AU -0.25% $12.06

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 2017

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, 20 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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