• Gold: 1,511.49 -2.75
  • Silver: 17.11 -0.00
  • Euro: 1.109 -0.000
  • USDX: 98.142 -0.094
  • Oil: 54.91 0.14

February 8: Gold and Silver End Mixed on the Week

Chris Mullen
|
Friday, February 8th
 

Close

Gain/Loss

On Week

Gold

$1668.60

-$3.20

+0.05%

Silver

$31.46

UNCH

-1.13%

XAU

152.43

-0.52%

+0.33%

HUI

403.20

-0.50%

+0.80%

GDM

1178.41

-0.54%

+0.43%

JSE Gold

2228.28

+13.62

+2.01%

USD

80.23

+0.03

+1.34%

Euro

133.64

-0.29

-2.12%

Yen

107.82

+1.08

+0.04%

Oil

$95.72

-$0.11

-2.10%

10-Year

1.954%

+0.003

-2.79%

Bond

143.6875

-0.09375

+0.59%

Dow

13992.97

+0.35%

-0.12%

Nasdaq

3193.87

+0.91%

+0.46%

S&P

1517.93

+0.57%

+0.31%

 
 

The Metals:

 

Gold edged up to $1673.53 in Asia before it fell back to as low as $1665.14 in early New York trade, but it then bounced back higher at times and ended with a loss of just 0.19%. Silver slipped to $31.314 in early New York trade, but it then rose to as high as $31.68 at about 10:40AM EST and ended unchanged on the day.

 

Euro gold remained at about €1248, platinum lost $3.30 to $1712.50, and copper climbed a few cents to about $3.76.

 

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

The Economy:

 

Report

For

Reading

Expected

Previous

Trade Balance

Dec

-$38.5B

-$45.4B

-$48.7B

Wholesale Inventories

Dec

-0.1%

0.3%

0.4%

 

All of this week’s other economic reports:

 

Consumer Credit - December

$14.6B v. $15.9B

Productivity - Q4

-2.0% v. 3.2%

Unit Labor Costs - Q4

4.5% v. -2.3%

Initial Claims - 2/02

366K v. 371K

ISM Services - January

55.2 v. 55.7

Factory Orders - December

1.8% v. -0.3%

 

Economic data points to growth in fourth-quarter GDP Reuters

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

 

The Markets:

 

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

 

Oil ended slightly lower as the U.S. dollar index erased early losses and closed modestly higher after the euro dropped on continued reaction to yesterday’s ECB press conference. The yen rose on comments from Japanese Finance Minister Taro Aso who said that the pace of the yen’s recent slide has been too rapid.

 

Treasuries saw slight losses as the Dow, Nasdaq, and S&P found modest gains on decent earnings reports and economic data.

 

Among the big names making news in the market Friday were Boeing, Moody’s, McDonald’s, Time, and LinkedIn.

 

GATA Posts:

 

 

This story shall the good man teach his son

 

The Statistics:

Activity from: 2/07/2013

Gold Warehouse Stocks:

10,933,849.827

+3,374.476

Silver Warehouse Stocks:

158,366,277.128

+975,070.747

 

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

1329.899

42,757,580

US$71,285m

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

Gold Bullion Securities

140.42

4,514,656

US$7,542m

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

ETFS Physical Gold

155.82

5,009,845

US$8,169m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$599m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.807 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 220.70: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,446.38: +25.57 change from yesterday’s data.

 

The Miners:

 

Aurizon’s (AZK) Shareholder Rights Plan and Newcrest’s (NM.TO, NCM.AU) first-half profit and Mineral Resource and Ore Reserve estimates were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Mines MGMT

MGN +4.67% $1.12

2. Northern Dynasty

NAK +3.33% $3.72

3. McEwen

MUX +2.28% $3.14

LOSERS

1. Avino

ASM -6.21% $1.66

2. Tanzanian Royalty

TRX -5.00% $3.42

3. Solitario

XPL -3.51% $1.65

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 2013

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