• Gold: 1,263.03 7.23
  • Silver: 16.14 0.10
  • Euro: 1.180 0.005
  • USDX: 93.579 -0.353
  • Oil: 57.63 0.37

August 3: Gold and Silver End Mixed on the Week

Chris Mullen
|
Friday, August 3rd
 

Close

Gain/Loss

On Week

Gold

$1602.80

+$14.10

-1.27%

Silver

$27.77

+$0.65

UNCH

XAU

150.33

+1.76%

-0.97%

HUI

407.53

+1.76%

-1.07%

GDM

1179.45

+1.75%

-1.04%

JSE Gold

2396.22

-28.69

-1.46%

USD

82.36

-0.96

-0.44%

Euro

123.79

+1.96

+0.61%

Yen

127.28

-0.56

-0.13%

Oil

$91.40

+$4.27

+1.41%

10-Year

1.577%

+0.099

+1.41%

Bond

149.53125

-1.96875

-0.33%

Dow

13096.17

+1.69%

+0.16%

Nasdaq

2967.90

+2.00%

+0.33%

S&P

1390.99

+1.90%

+0.36%

 
 

The Metals:

 

Gold climbed $11.03 to $1599.73 by a little after 8AM EST before it dropped back to $1586.90 immediately after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.89%. Silver slumped down to $27.066 in early New York trade, but it then surged to as high as $27.883 and ended with a gain of 2.4%.

 

Euro gold fell to about €1295, platinum gained $16.50 to $1400.50, and copper rose 7 cents to about $3.37.

 

Gold and silver equities rose about 2% at the open and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

July

163K

100K

64K

Unemployment Rate

July

8.3%

8.2%

8.2%

Hourly Earnings

July

0.1%

0.2%

0.3%

Average Workweek

July

34.5

34.5

34.5

ISM Services

July

52.6

52.3

52.1

 

The BLS net birth/death adjustment added 52,000 payrolls to July’s data. Private Payrolls rose 172,000.

 

All of this week’s other economic reports:

 

Factory Orders - June

-0.5% v. 0.5%

Initial Claims - 7/28

365K v. 357K

Challenger Job Cuts - July

-44.5% v. -9.5%

Construction Spending - June

0.4% v. 1.6%

ISM Index - July

49.8 v. 49.7

ADP Employment - July

163K v. 172K

Consumer Confidence - July

65.9 v. 52.7

Chicago PMI - July

53.7 v. 52.9

Case-Shiller 20-city Index - May

-0.7% v. -1.9%

Personal Income - June

0.5% v. 0.3%

Personal Spending - June

0.0% v. -0.1%

Core PCE Prices - June

0.2% v. 0.1%

Employment Cost Index - Q2

0.5% v. 0.4%

 

Next week’s economic highlights include Consumer Credit on Tuesday, Productivity and Unit Labor Costs on Wednesday, Initial Jobless Claims, the Trade Balance, and Wholesale Inventories on Thursday, and Import and Export Prices and the Treasury Budget on Friday.

 

The Markets:

 

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

 

Oil rose almost 5% as the U.S. dollar index and treasuries fell after this morning’s better than expected jobs report sent the Dow, Nasdaq, and S&P about 2% higher.

 

Among the big names making news in the market Friday were RBS, P&G, Boeing, LinkedIn, Viacom, Knight, and Bristol-Myers.

 

GATA Posts:

 

Treasury audits NY Fed's gold but only to evade leasing, swapping, oversubscription issues

 

The Statistics:

Activity from: 8/02/2012

Gold Warehouse Stocks:

10,808,554.786

-280.82

Silver Warehouse Stocks:

138,855,214.516

+545,467.06

 

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)

SPDR® Gold Shares

1251.925

40,250,633

US$64,455m

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

Gold Bullion Securities

123.88

3,982,972

US$6,390m

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

ETFS Physical Gold

147.79

4,751,614

US$7,748m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$575m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.91

1,315,135

US$2,098m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.86: -0.04 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,759.01: +50.24 change from yesterday’s data.

 

The Miners:

 

ITH’s (THM) private placement and Richmont’s (RIC) second quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Exeter

XRA+11.89% $1.60

2. McEwen

MUX+10.38% $3.19

3. Solitario

XPL +8.47% $1.28

LOSERS

1. NovaGold

NG -6.36% $3.68

2. Avino

ASM-4.07% $1.18

3. Richmont

RIC -1.41% $3.50

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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© Gold Seeker 2012

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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