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Weekly Wrap-Up: Gold and Silver Gain Over 1% on the Week - April 8th 2016








Chris Mullen | Friday April 8th

 

Close

Gain/Loss

On Week

Gold

$1239.50

-$0.80

+1.32%

Silver

$15.34

+$0.13

+1.79%

XAU

74.01

+4.12%

+6.17%

HUI

194.07

+4.16%

+7.87%

GDM

594.36

+3.48%

+6.32%

JSE Gold

2093.19

-38.62

+5.81%

USD

94.22

-0.32

-0.38%

Euro

113.99

+0.24

+0.01%

Yen

92.43

UNCH

+3.19%

Oil

$39.72

+$2.46

+7.96%

10-Year

1.720%

+0.029

-4.02%

Bond

166.25

-0.75

+0.97%

Dow

17576.96

+0.20%

-1.21%

Nasdaq

4850.68

+0.06%

-1.30%

S&P

2047.60

+0.28%

-1.21%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold dropped $10.68 to $1229.62 in London, but it then climbed back higher for most of trade in New York and ended with a loss of just 0.06%.  Silver rose to as high as $15.38 and ended with a gain of 0.85%.

 

Euro gold fell to about €1087, platinum gained $11 to $965, and copper remained at about $2.09.

 

Gold and silver equities gained about 4% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Feb

-0.5%

-0.2%

-0.2%

 

Fed's Dudley sees risks lingering, cautious on U.S. rate hikes  Reuters

Yellen Says U.S. Near Full Employment, Some Slack Remains  Bloomberg

 

All of this week’s other economic reports:

 

Consumer Credit - February

$17.3B v. $14.8B

 

Initial Claims - 4/02

267K v. 276K

 

JOLTS - Job Openings - February

5.445M v. 5.604M

 

ISM Services - March

54.5 v. 53.4

 

Trade Balance - February

-$47.1 v. -$45.9B

 

Factory Orders - February

-1.7% v. 1.2%

 

Next week’s economic highlights include Import and Export Prices and the Treasury Budget on Tuesday, PPI, Retail Sales, Business Inventories, and the Fed's Beige Book on Wednesday, Initial Jobless Claims and CPI on Thursday, and Empire Manufacturing, Capacity Utilization, Industrial Production, and Net Long-Term TIC Flows on Friday.

 

The Markets:

 

Markets Charts Intraday

Charts Courtesy of http://finance.yahoo.com/

 

Oil gained nearly 7% on falling US output and declining rig counts.

 

The U.S. dollar index dropped as the euro rose after minutes from the ECB’s March meeting expressed confidence in Draghi and the stimulative measures employed last month.

 

Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on relief over oil’s rebound.

 

Among the big names making news in the market Friday were UnitedHealth, Starboard, and Twitter.

 

GATA Posts:

 

 

Actual life in the junior gold mining sector

 

The Statistics:

Activity from: 4/7/2016

Gold Warehouse Stocks:

6,814,311.489

-20,897.50

Silver Warehouse Stocks:

155,239,216.349

-61,756.72

 

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

819.596

26,350,841

US$32,659m

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$5,511m

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$6,089m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.42

1,074,449

US$1,304m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 187.26: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,411.09: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) investment in Probe Metals (PRB.V) and Endeavour Silver’s (EXK) production results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Almaden

AAU +19.04% $1.12

2.  Alexco

AXU +13.67% $1.08

3.  McEwen

MUX +10.58% $2.30

 

LOSER

1.  MAG Silver

MVG -1.84% $9.62

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

Published:April 8th, 2016
Source: Gold-Seeker.com
weekly_wrap_up_04_08_2016






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