• Gold: 1,279.99 -0.17
  • Silver: 17.00 -0.04
  • Euro: 1.177 0.000
  • USDX: 93.701 0.191
  • Oil: 52 0.39

September 5: Gold and Silver Fall 1.44% on the Week

Chris Mullen
|
Saturday, September 6th
 

Close

Gain/Loss

On Week

Gold

$1268.80

+$5.90

-1.44%

Silver

$19.20

+$0.12

-1.44%

XAU

95.30

+0.25%

-6.80%

HUI

228.04

+0.27%

-7.12%

GDM

690.66

+0.04%

-6.48%

JSE Gold

1427.22

-62.78

-7.02%

USD

83.76

+0.01

+1.28%

Euro

129.49

+0.10

-1.44%

Yen

95.16

+0.19

-0.99%

Oil

$93.29

-$1.16

-2.78%

10-Year

2.461%

+0.013

+5.04%

Bond

139.40625

-0.21875

-1.46%

Dow

17137.36

+0.40%

+0.23%

Nasdaq

4582.90

+0.45%

+0.06%

S&P

2007.71

+0.50%

+0.22%

 
 

The Metals:

 

Gold jumped up to $1270.35 after the release of this morning’s jobs report before it drifted back lower in late morning trade, but it still ended with a gain of 0.47%. Silver spiked up to $19.163 before it dropped back to $19.04, but it then bounced back higher in afternoon trade and ended with a gain of 0.63%.

 

Euro gold rose to about €979, platinum gained $5 to $1406, and copper climbed a couple of cents to about $3.17.

 

Gold and silver equities waffled near unchanged and ended with slight gains.

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Aug

142K

223K

212K

Unemployment Rate

Aug

6.1%

6.1%

6.2%

Hourly Earnings

Aug

0.2%

0.2%

0.0%

Average Workweek

Aug

34.5

34.5

34.5

 

The BLS net birth/death adjustment added 102,000 payrolls to August’s data. Private Payrolls rose 134,000.

 

All of this week’s other economic reports:

 

ISM Services - August

59.6 v. 58.7

Unit Labor Costs - Q2

-0.1% v. 0.6%

Productivity - Q2

2.3% v. 2.5%

Trade Balance - July

-$40.5B v. -$40.8B

Initial Claims - 8/30

302K v. 298K

ADP Employment - August:

204K v. 212K

Factory Orders - July

10.5% v. 1.5%

Construction Spending - July

1.8% v. -0.9%

ISM Index - August

59.0 v. 57.1

 

Next week’s economic highlights include Consumer Credit on Monday, Wholesale Inventories on Wednesday, Initial Jobless Claims and the Treasury Budget on Thursday, and Retail Sales, Export and Import Prices, Michigan Sentiment, and Business Inventories on Friday.

 

The Markets:

 

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

 

Oil fell along with the U.S. dollar index on weaker than expected jobs data that sent treasuries higher and the Dow, Nasdaq, and S&P lower at the open, but stocks then climbed back higher midday and ended with modest gains while bonds turned slightly lower and the dollar climbed back to unchanged on easing geopolitical tensions.

 

Among the big names making news in the market Friday were Family Dollar and Dollar General, Michael Kors, and Gap.

 

GATA Posts:

 

 

Koos Jansen: Does the World Gold Council understand the Chinese gold market?

TF Metals Report -- Riding the Line Update

But Pierre Lassonde and Doug Casey say central banks don't care about gold!

Julian Phillips: Gold price manipulation is the very point of government

 

The Statistics:

Activity from: 9/04/2014

Gold Warehouse Stocks:

9,730,698.351

-39,488.73

Silver Warehouse Stocks:

180,171,802.944

+923,151.04

 

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

785.725

25,261,829

US$31,964m

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$5,625m

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$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.04

1,223,154

US$1,550m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 4.786 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.23: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,363.91: No change from yesterday’s data.

 

The Miners:

 

Claude’s (CGR) received payment, Newmont’s (NEM) offering recommendation, and Golden Minerals (AUMN) priced offering were among the big stories in the gold and silver mining industry making headlines Friday.

WINNERS

1. Almaden

AAU +4.14% $1.51

2. Rio Alto

RIOM +3.60% $2.88

3. Primero

PPP +3.00% $6.19

LOSERS

1. Comstock

LODE -3.36% $1.44

2. Solitario

XPL -2.67% $1.46

3. Richmont

RIC -2.64% $2.58

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 2014

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