January 6: Gold and Silver Gain About 2% and 3% on the Week
Gold fell $10.21 to $1170.99 by early afternoon in New York before it bounced back higher into the close, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.307 and ended with a loss of 0.84%.
Euro gold fell to about €1113, platinum remained at $966, and copper climbed a penny to about $2.54.
Gold and silver equities fell roughly 4% by midday before they rallied back higher in late trade, but they still ended with about 3% losses.
The BLS net birth/death adjustment subtracted 28,000 payrolls from December’s data. Private Payrolls rose 144,000.
All of this week’s other economic reports:
ISM Services - December
Initial Claims - 12/31
ADP Employment - December
Construction Spending - November
ISM Index - December
Next week’s economic highlights include Consumer Credit on Monday, Wholesale Inventories on Tuesday, Initial Jobless Claims and Export and Import Prices on Thursday, and PPI, Retail Sales, Business Inventories, and Michigan Sentiment on Friday.
Charts Courtesy of http://finance.yahoo.com/
Oil edged higher on hopes that OPEC members are sticking to their pledged production cuts.
The U.S. dollar index rose and treasuries fell on rising wages and upward revisions to prior jobs data that strengthened the case for rising interest rates in the future.
The Dow, Nasdaq, and S&P saw decent gains on economic confidence.
Among the big names making news in the market Friday were Apple, Novartis, Bitcoin, Toyota, and Nissan.
Activity from: 1/5/2017
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.28 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.40: +0.79 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,612.51: No change from yesterday’s data.
Golden Star’s (GSS) commercial production in Ghana, Eldorado’s (EGO) preliminary 2016 results and 2017 guidance, and Alamos Gold’s (AGI) 2016 production and 2017 guidance were among the big stories in the gold and silver mining industry making headlines Friday.
FCX +1.92% $14.90
1. Tahoe Resources
TAHO -13.77% $9.64
PVG -8.06% $9.35
3. Alamos Gold
AGI -7.13% $7.95
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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