• Gold: 1,260.77 5.71
  • Silver: 17.16 0.33
  • Euro: 1.123 0.003
  • USDX: 96.967 -0.175
  • Oil: 51.06 0.21

January 6: Gold and Silver Gain About 2% and 3% on the Week

Chris Mullen
|
Friday, January 6th
 

Close

Gain/Loss

On Week

Gold

$1173.00

-$8.20

+1.95%

Silver

$16.48

-$0.14

+3.26%

XAU

85.31

-2.98%

+8.18%

HUI

196.56

-3.78%

+7.82%

GDM

624.39

-3.07%

+6.75%

JSE Gold

1430.07

+2.76

+4.97%

USD

102.19

+0.72

-0.18%

Euro

105.33

-0.74

+0.08%

Yen

85.48

-1.22

UNCH

Oil

$53.99

+$0.23

+0.50%

10-Year

2.418%

+0.050

-1.14%

Bond

151.71875

-0.78125

+0.71%

Dow

19963.80

+0.32%

+1.02%

Nasdaq

5521.05

+0.60%

+2.56%

S&P

2276.98

+0.35%

+1.70%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-6gsr/1.jpg

The Metals:

 

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 Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Dec

156K

175K

204K

Unemployment Rate

Dec

4.7%

4.7%

4.6%

Hourly Earnings

Dec

0.4%

0.3%

-0.1%

Average Workweek

Dec

34.3

34.4

34.3

Trade Balance

Nov

-$45.2B

-$42.2B

-$42.4B

Factory Orders

Nov

-2.4%

-2.1%

2.8%

 

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

57.2 v. 57.2

Initial Claims - 12/31

235K v. 263K

ADP Employment - December

153K v. 215K

Construction Spending - November

0.9% v. 0.6%

ISM Index - December

54.7 v. 53.2

 

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.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-6gsr/1.png

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.

 

GATA Posts:

 

 

GoldPrice.org chart shows metal gained in all major currencies in 15 years

 

The Statistics:

Activity from: 1/5/2017

Gold Warehouse Stocks:

9,109,848.073

-8,037.50

Silver Warehouse Stocks:

180,685,358.241

-1,044,940.75

 

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

813.591

26,157,754

US$30,756m

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$5,210m

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$5,752m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$421m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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.

 

The Miners:

 

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.

 

WINNERS

1. Freeport

FCX +1.92% $14.90

LOSERS

1. Tahoe Resources

TAHO -13.77% $9.64

2. Pretivm

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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© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 

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