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

 -- Published: Friday, 30 June 2017 | Print  | Disqus 

Please Note: Canadian markets are closed on Monday for Canada Day.  US Markets close early at 1PM EST.  US Markets will remain closed on Tuesday for Independence Day.

 

 

Close

Gain/Loss

On Week

Gold

$1241.40

-$2.90

-1.15%

Silver

$16.61

-$0.01

-0.54%

XAU

80.78

+0.60%

-3.18%

HUI

185.71

+0.71%

-4.48%

GDM

613.26

+0.17%

-3.24%

JSE Gold

1207.87

+8.89

-5.43%

USD

95.67

+0.09

-1.63%

Euro

114.24

-0.13

+2.03%

Yen

88.92

-0.25

-1.07%

Oil

$46.04

+$1.11

+7.04%

10-Year

2.300%

+0.033

+7.28%

Bond

153.78125

-0.46875

-1.82%

Dow

21349.63

+0.29%

-0.21%

Nasdaq

6140.42

-0.06%

-1.99%

S&P

2423.41

+0.15%

-0.61%

 
http://goldseek.com/news/2017/6-30-17.jpg

 

The Metals:

 

Gold fell $4.70 to $1239.60 at about 8:45AM EST before it chopped back higher at times, but it still ended with a loss of 0.23%.  Silver slipped to as low as $16.541 and ended with a loss of 0.06%.

 

Euro gold fell to about €1087, platinum gained $5 to $923, and copper climbed a penny to about $2.71.

 

Gold and silver equities traded mostly higher and ended with modest gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

May

0.4%

0.3%

0.3%

Personal Spending

May

0.1%

0.1%

0.4%

PCE Prices

May

-0.1%

-0.1%

0.2%

Core PCE Prices

May

0.1%

0.1%

0.1%

Chicago PMI

June

65.7

58.2

59.4

Michigan Sentiment

June

95.1

94.5

94.5

 

All of this week’s other economic reports:

 

GDP - Q1

1.4% v. 1.2%

 

GDP Deflator - Q1

1.9% v. 2.2%

 

Initial Claims - 6/24

244K v. 242K

 

Pending Home Sales - May

-0.8% v. -1.7%

 

Consumer Confidence - June

118.9 v. 117.6

 

S&P Corelogic Case-Shiller HPI - April

0.3% v. 0.5%

 

Durable Goods - May

-1.1% v. -0.9%

 

Durable Goods -ex trans. - May

0.1% v. -0.5%

 

Next week’s economic highlights include the ISM Index and Construction Spending on Monday, Factory Orders and FOMC Minutes on Wednesday, ADP Employment, Initial Jobless Claims, the Trade Balance, and ISM Services on Thursday, and June’s jobs data on Friday.

 

The Markets:

  

Oil rose 2.5% after Baker Hughes “showed the first decline in the number of active U.S. oil rigs in 24 weeks.”

 

The U.S. dollar index saw slight gains on profit taking from this week’s notable decline.

 

Treasuries fell as the Dow, Nasdaq, and S&P rebounded from yesterday’s drop.

 

Among the big names making news in the market Friday were Nike, Microsoft, and BofA.

 

GATA Posts:

 

 

Romania hit by $4.4-billion damage claim over stalled gold mine project

 

The Statistics:

Activity from: 6/29/2017

Gold Warehouse Stocks:

8,616,722.334

-

Silver Warehouse Stocks:

209,008,472.932

+492,620.699

 

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

853.684

27,446,803

US$34,084m

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$5,523m

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$6,103m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$446m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 210.35: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,551.14: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) payments to governments in 2016, Silver Bear’s (SBR.TO) re-domiciliation, and Hecla’s (HL) withdrawn offering were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Buenaventura

BVN +4.64% $11.50

2.  Alamos Gold

AGI +4.06% $7.18

3.  Seabridge

SA +2.37% $10.80

 

LOSERS

1.  Gold Resource

GORO-4.23% $4.08

2.  Almaden

AAU -3.08% $1.26

3.  Endeavour Silver

EXK -2.56% $3.05

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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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, 30 June 2017 | E-Mail  | Print  | Source: GoldSeek.com

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