-- Published: Friday, 8 July 2016 | Print | Disqus
| Close | Gain/Loss | On Week |
Gold | $1367.20 | +$8.10 | +1.75% |
Silver | $20.19 | +$0.52 | +2.49% |
XAU | 106.92 | +2.98% | +4.32% |
HUI | 270.26 | +2.32% | +4.36% |
GDM | 843.25 | +2.07% | +4.88% |
JSE Gold | 2669.09 | +44.11 | +9.04% |
USD | 96.28 | +0.02 | +0.64% |
Euro | 110.54 | -0.09 | -0.66% |
Yen | 99.54 | +0.30 | +2.13% |
Oil | $45.41 | +$0.27 | -7.31% |
10-Year | 1.366% | -0.021 | -6.18% |
Bond | 176.9375 | +0.6875 | +1.56% |
Dow | 18146.74 | +1.40% | +1.10% |
Nasdaq | 4956.75 | +1.64% | +1.94% |
S&P | 2129.90 | +1.53% | +1.28% |
The Metals:
Gold bounced between $1353.49 and $1363.32 just ahead of this morning’s jobs report and jumped between $1342.57 and $1369.90 in the hour afterwards before it drifted back towards $1350 by late morning in New York, but it then rallied back higher into the close and ended with a gain of 0.6%. Silver rose to as high as $20.205 and ended with a gain of 2.64%.
Euro gold rose to about €1237, platinum gained $11 to $1098, and copper remained at about $2.13.
Gold and silver equities saw slight losses about a half hour into trade, but they then chopped back higher for most of the rest of the day and ended with over 2% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | June | 287K | 175K | 11K |
Unemployment Rate | June | 4.9% | 4.8% | 4.7% |
Hourly Earnings | June | 0.1% | 0.2% | 0.2% |
Average Workweek | June | 34.4 | 34.4 | 34.4 |
Consumer Credit | May | $18.6B | $15.3B | $13.4B |
The BLS net birth/death adjustment added 92,000 payrolls to June’s data. Private Payrolls rose 265,000.
All of this week’s other economic reports:
Next week’s economic highlights include Wholesale Inventories on Tuesday, Import and Export Prices, the Fed's Beige Book, and the Treasury Budget on Wednesday, Initial Jobless Claims and PPI on Thursday, and Retail Sales, Empire Manufacturing, CPI, Capacity Utilization, Industrial Production, Business Inventories, and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil edged higher on worries about fresh militant attacks on Nigerian oil infrastructure.
The U.S. dollar index waffled near unchanged and treasuries rose on doubts that today’s stronger than expected jobs report will influence the fed to raise rates anytime soon.
The Dow, Nasdaq, and S&P gained over 1% on optimism over strong economic data and continued easy monetary policy.
Among the big names making news in the market Friday were Comcast, Smith & Wesson, and HSBC.
GATA Posts:
China resumes monthly gold buying to diversify reserves
Alasdair Macleod: GoldMoney debit card proves gold remains money and provides choice
Ambrose Evans-Pritchard: World faces deflation shock as China devalues faster
The Statistics:
Activity from: 7/7/2016
Gold Warehouse Stocks: | 9,539,972.918 | -1,378.67 |
Silver Warehouse Stocks: | 150,430,406.942 | -2,292,442.98 |
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 | 978.286 | 31,452,885 | US$42,591m |
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$6,002m |
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$6,633m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$489m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 34.88 | 1,121,361 | US$1,417m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 4.158 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 213.19: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,620.38: No change from yesterday’s data.
The Miners:
Royal Gold’s (RGLD) fourth quarter update and Hecla’s (HL) takeover bid for Dolly Varden Silver Corporation were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Tanzanian Royalty | TRX +14.71% $1.09 |
2. Paramount | PZG +13.69% $2.74 |
3. Mines Management | MGN +9.02% $1.33 |
LOSERS
1. Almaden | AAU -3.92% $1.47 |
2. Great Panther | GPL -1.30% $1.52 |
3. Richmont | RIC -1.10% $9.86 |
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
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-- Published: Friday, 8 July 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Weekly Wrap-Up: Gold and Silver Gain About 2% on the Week
