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

 -- Published: Friday, 13 July 2018 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1241.60

-$5.50

-1.08%

Silver

$15.80

-$0.14

-1.43%

XAU

80.43

-0.84%

-3.96%

HUI

173.52

-0.74%

-3.18%

GDM

612.68

-0.68%

-3.18%

JSE Gold

1030.27

-25.72

-4.84%

USD

94.72

-0.06

+0.76%

Euro

116.84

+0.11

-0.56%

Yen

89.01

+0.12

-1.70%

Oil

$71.01

+$0.68

-3.78%

10-Year

2.833%

-0.016

+0.32%

Bond

145.75

+0.46875

+0.06%

Dow

25019.41

+0.38%

+2.30%

Nasdaq

7825.98

+0.03%

+1.79%

S&P

2801.31

+0.11%

+1.50%

 
http://www.goldseek.com/news/2018/2018-07-13_14-24-05.jpg

 

The Metals:

 

Gold dropped $10.30 to $1236.80 at about 8AM EST before it rebounded in New York, but it still ended with a loss of 0.44%. Silver slipped to as low as $15.692 and ended with a loss of 0.88%.

 

Euro gold fell to about €1062, platinum lost $13 to $826, and copper remained at about $2.77.

 

Gold and silver equities traded mostly lower and ended with modest losses.

 

The Economy:

 

Consumer sentiment hits six-month low on 'darkening cloud' of tariffs  CNBC

China's trade surplus with U.S. hits record as exporters rush to beat tariffs  Reuters

Cost of imported goods sink in June, but the price drop won't to last once tariffs kick in  MarketWatch

 

Next week’s economic highlights include Retail sales, Retail sales ex-autos, the Empire state index, and Business inventories on Monday, Industrial production, Capacity utilization, Jerome Powell testimony, and the Home builders' index on Tuesday, Housing starts, Building permits, Jerome Powell testimony, and the fed’s Beige book on Wednesday, and Weekly jobless claims, the Philly Fed, and Leading economic indicators on Thursday.

 

The Markets:

 

Oil gained almost 1% on supply concerns in Norway and Iraq.

 

The U.S. dollar index ended modestly lower on profit taking.

 

Treasuries edged up on disappointing economic data.

 

The Dow, Nasdaq, and S&P rose on relief over oil’s rebound.

 

Among the big names making news in the market Friday were AT&T-Time Warner, Deutsche Bank, JPMorgan, Citigroup, Advaxis, Johnson & Johnson, and Wells Fargo.

 

GATA Posts:

 

 

David Brady at Sprott Money: China robs Comex of control of gold price

 

The Statistics:

Activity from: 7/12/2018

Gold Warehouse Stocks:

8,658,102.481

-

Silver Warehouse Stocks:

280,458,390.687

-11,185.45

 

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

795.189

25,566,111

US$31,741m

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$5,516m

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$6,098m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.829 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.11: -0.96 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,163.12: +32.19 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Silvercorp

SVM +2.57% $2.79

2.  Paramount

PZG +1.67% $1.22

3.  First Majestic

AG +1.05% $7.70

 

LOSERS

1.  Sibanye

SBGL -2.99% $2.27

2.  Gold Resource

GORO-2.96% $6.89

3.  Freeport

FCX -2.83% $16.80

Winners & Losers tracks NYSE 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 2018

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, 13 July 2018 | E-Mail  | Print  | Source: GoldSeek.com

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