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

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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 3% on the Week
By: Chris Mullen, Gold Seeker Report

 -- Published: Friday, 13 October 2017 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1303.60

+$10.30

+2.25%

Silver

$17.39

+$0.17

+3.64%

XAU

87.29

+0.19%

+0.45%

HUI

202.77

+0.28%

+0.33%

GDM

662.04

+0.31%

+1.37%

JSE Gold

1295.68

-5.88

-3.77%

USD

93.09

UNCH

-0.77%

Euro

118.19

-0.15

+0.73%

Yen

89.38

+0.27

+0.68%

Oil

$51.45

+$0.85

+4.38%

10-Year

2.280%

-0.037

-3.72%

Bond

154.00

+0.90625

+1.38%

Dow

22871.72

+0.13%

+0.43%

Nasdaq

6605.80

+0.22%

+0.24%

S&P

2553.17

+0.09%

+0.15%

 
http://www.goldseek.com/news/2017/2017-10-13_14-02-13.jpg

 

The Metals:

 

Gold saw modest gains in Asia before it fell back to $1290.70 in London, but it then jumped up to $1302.50 after the release of economic data in New York and ended with a gain of 0.8%. Silver rose to as high as $17.393 and ended with a gain of 0.99%.

 

Euro gold rose to about €1103, platinum gained $9.50 to $944.50, and copper climbed a penny to about $3.12.

 

Gold and silver equities waffled near unchanged and ended slightly higher.

 

The Economy:

 

U.S. business inventories post largest gain in nine months  Reuters

Consumer Sentiment in U.S. Unexpectedly Surges to 13-Year High  Bloomberg

U.S. Inflation Picks Up on Fuel Costs While Core Gauge Slows  Bloomberg

U.S. Retail Sales Climb Most Since 2015 on Storm-Related Boost  Bloomberg

 

Next week’s economic highlights include the Empire State Manufacturing Survey on Monday, Import and Export Prices, Industrial Production, the Housing Market Index, and Treasury International Capital on Tuesday, Housing Starts and the fed’s Beige Book on Wednesday, Initial Jobless Claims and Leading Economic Indicators on Thursday, and Existing Home Sales and a speech from fed chair Yellen on Friday.

 

The Markets:

 

Oil gained almost 2% on geopolitical concerns and strong Chinese imports.

 

The U.S. dollar index mostly fell after this morning’s disappointing economic data sent treasuries higher.

 

The Dow, Nasdaq, and S&P rose as mixed banking and healthcare news was overcome by positive moves in the tech sector.

 

Among the big names making news in the market Friday were Kobe Steel, Amazon, Facebook, Wells Fargo, Samsung, Bank of America, and PNC.

 

GATA Posts:

 

 

The psychology of gold and why it has that allure

Where gold trade goes if London loses its grip

 

The Statistics:

Activity from: 10/12/2017

Gold Warehouse Stocks:

8,511,650.656

+1,989.35

Silver Warehouse Stocks:

219,667,369.941

-85,532.803

 

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

858.450

27,600,037

US$35,864m

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$5,775m

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$6,383m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$467m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 228.69: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,132.44: No change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) third quarter production and AbraPlata’s (ABRA.V) market making service were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Buenaventura

BVN +3.50% $14.50

2.  Gold Fields

GFI +2.49% $4.12

3.  DRDGOLD

DRD +1.93% $3.70

 

LOSERS

1.  New Gold

NGD -2.38% $3.69

2.  Northern Dynasty

NAK -2.30% $2.12

3.  Paramount

PZG -2.26% $1.30

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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© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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 -- Published: Friday, 13 October 2017 | E-Mail  | Print  | Source: GoldSeek.com

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