• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.932 0.443
  • Oil: 57.26 0.11

July 13: Gold and Silver End Slightly Higher on the Week

Chris Mullen
|
Friday, July 13th
 

Close

Gain/Loss

On Week

Gold

$1588.00

+$16.30

+0.27%

Silver

$27.25

+$0.08

+0.52%

XAU

150.22

+1.58%

-4.57%

HUI

404.44

+1.47%

-4.51%

GDM

1170.49

+1.45%

-4.73%

JSE Gold

2273.37

+34.93

-1.78%

USD

83.33

-0.27

+0.06%

Euro

122.41

+0.42

-0.38%

Yen

126.24

+0.10

+0.52%

Oil

$87.10

+$1.02

+3.14%

10-Year

1.499%

+0.022

-2.91%

Bond

151.1875

-0.4375

+1.47%

Dow

12777.09

+1.62%

+0.04%

Nasdaq

2908.47

+1.48%

-0.98%

S&P

1356.78

+1.65%

-0.58%

 
 

The Metals:

 

Gold rallied to as high as $1596.35 and ended with a gain of 1.04%. Silver rose to $27.509 in London before it slumped back to $27.14 in midmorning New York trade, but it then surged to a new session high of $27.56 and ended with a gain of 0.3%.

 

Euro gold rose to almost €1298, platinum gained $10.40 to $1424.90, and copper surged 9 cents to about $3.50.

 

Gold and silver equities rose about 1.5% by midmorning and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

June

0.1%

-0.6%

-1.0%

Core PPI

June

0.2%

0.2%

0.2%

Michigan Sentiment

July

72.0

73.5

73.2

 

China second-quarter growth cools to 7.6% MarketWatch

Hong Kong, New York Most Expensive for Retailers as Rents Jump Bloomberg

Americans Living Larger As New-Home Sizes Defy Economy Bloomberg

Geithner Proposed Libor Changes in 2008 Memo to Bank of England Bloomberg

 

All of this week’s other economic reports:

 

Treasury Budget - June

-$59.7B v. -$43.1B

Initial Claims - 7/07

350K v. 376K

Import Prices - June

-2.7% v. -1.2%

Import Prices ex-oil - June

-0.3% v. -0.1%

Export Prices - June

-1.7% v. -0.4%

Export Prices ex-ag. - June

-1.4% v. -0.6%

Wholesale Inventories - May

0.3% v. 0.5%

Trade Balance - May

-$48.7B v. -$50.6B

Consumer Credit - May

$17.1B v. $10.0B

 

Next week’s economic highlights include Retail Sales, Empire Manufacturing, and Business Inventories on Monday, CPI, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, and the NAHB Housing Market Index on Tuesday, Housing Starts, Building Permits, and the fed’s Beige Book on Wednesday, and Initial Jobless Claims, Existing Home Sales, the Philadelphia Fed, and Leading Economic Indicators on Thursday.

 

The Markets:

 

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

 

Oil rose along with the Dow, Nasdaq, and S&P as the U.S. dollar index and treasuries fell on speculation that China will boost stimulus measures.

 

Among the big names making news in the market Friday were Duke, P&G, US Airways, Wells Fargo, and JPMorgan.

 

GATA Posts:

 

 

Rob Kirby: LIBOR rigging is just the tip of the iceberg

MineWeb: Indian central bank wants people to exchange metal for paper

 

The Statistics:

Activity from: 7/12/2012

Gold Warehouse Stocks:

10,810,337.624

-291.84

Silver Warehouse Stocks:

144,701,988.077

+272,912.31

 

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

1269.727

40,823,005

US$63,520m

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

Gold Bullion Securities

123.72

3,977,849

US$6,293m

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

ETFS Physical Gold

146.34

4,704,892

US$7,672m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.01

353,836

US$560m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

39.46

1,268,817

US$1,996m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.509 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.90: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,729.89: No change from yesterday’s data.

 

The Miners:

 

Banro’s update and Endeavour Silver’s (EXK) acquisition of AuRico’s (AUQ) mine and project were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Gold Reserve

GRZ +7.24% $3.85

2. Kinross

KGC+6.86% $8.41

3. Golden Star

GSS +6.60% $1.13

LOSERS

1. Eurasian

EMXX -3.24% $1.79

2. Endeavour Silver

EXK -2.58% $7.94

3. Solitario

XPL -2.24% $1.31

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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