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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Roughly 1% on the Week
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Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 1% on the Week While Stocks Drop Over 5%
By: Chris Mullen, Gold Seeker Report

 -- Published: Friday, 9 February 2018 | Print  | Disqus 




On Week





















JSE Gold









































The Metals:


Gold gained $3.20 to $1320.40 in Asia before it chopped back to $1311.50 in late morning New York trade and then bounced back higher at times, but it still ended with a loss of 0.18%. Silver slipped to as low as $16.19 and ended with a loss of 0.37%.


Euro gold fell to about €1075, platinum lost $8 to $961, and copper dropped 4 cents to about $3.04.


Gold and silver equities fell over 4% by early afternoon, but they then rallied back higher into the close and ended with only about 2% losses on the day.


The Economy:


U.S. wholesale inventories for December revised higher  Reuters

Trump signs deal to end brief government shutdown, increase U.S. spending  Reuter

The ‘markets stop panicking when the Fed starts panicking’: Bank of America Merrill Lynch  MarketWatch


Next week’s economic highlights include the Treasury Budget on Monday, the NFIB Small Business Optimism Index on Tuesday, CPI, Retail Sales, and Business Inventories on Wednesday, Initial Jobless Claims, the Philadelphia Fed, PPI, Empire State Manufacturing, Industrial Production, and the Housing Market Index on Thursday, and Housing Starts, Import and Export Prices, and Consumer Sentiment on Friday.


The Markets:


Oil fell over 3% after Baker Hughes reported that the number of active U.S. rigs drilling for oil jumped by 26 to 791 this week.


The U.S. dollar index edged higher and treasuries closed modestly lower while the Dow, Nasdaq, and S&P swung in a wide range and ended over 1% higher on hopes for more stability next week.


Among the big names making news in the market Friday were GE, Qualcomm, CBOE, Expedia, FireEye, Amazon, FedEx, UPS, and Nvidia.


The Statistics:

Activity from: 2/8/2018

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.59 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.


The Miners:



1.  Nevsun

NSU +2.84% $2.17

2.  Freeport

FCX +2.39% $17.57

3.  Newmont

NEM +0.41% $36.76



1.  Eldorado

EGO -7.32% $1.14

2.  New Gold

NGD -7.22% $2.57

3.  Great Panther

GPL -6.56% $1.14

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


- Chris Mullen, Gold Seeker Report


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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. 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’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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