August 3: Gold and Silver End Mixed on the Week

Chris Mullen

Friday, August 3rd

	Close	Gain/Loss	On Week
Gold	$1602.80	+$14.10	-1.27%
Silver	$27.77	+$0.65	UNCH
XAU	150.33	+1.76%	-0.97%
HUI	407.53	+1.76%	-1.07%
GDM	1179.45	+1.75%	-1.04%
JSE Gold	2396.22	-28.69	-1.46%
USD	82.36	-0.96	-0.44%
Euro	123.79	+1.96	+0.61%
Yen	127.28	-0.56	-0.13%
Oil	$91.40	+$4.27	+1.41%
10-Year	1.577%	+0.099	+1.41%
Bond	149.53125	-1.96875	-0.33%
Dow	13096.17	+1.69%	+0.16%
Nasdaq	2967.90	+2.00%	+0.33%
S&P	1390.99	+1.90%	+0.36%

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The Metals:

Gold climbed $11.03 to $1599.73 by a little after 8AM EST before it dropped back to $1586.90 immediately after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.89%. Silver slumped down to $27.066 in early New York trade, but it then surged to as high as $27.883 and ended with a gain of 2.4%.

Euro gold fell to about €1295, platinum gained $16.50 to $1400.50, and copper rose 7 cents to about $3.37.

Gold and silver equities rose about 2% at the open and remained near that level for the rest of the day.

The Economy:

Report	For	Reading	Expected	Previous
Nonfarm Payrolls	July	163K	100K	64K
Unemployment Rate	July	8.3%	8.2%	8.2%
Hourly Earnings	July	0.1%	0.2%	0.3%
Average Workweek	July	34.5	34.5	34.5
ISM Services	July	52.6	52.3	52.1

The BLS net birth/death adjustment added 52,000 payrolls to July’s data. Private Payrolls rose 172,000.

All of this week’s other economic reports:

Factory Orders - June

-0.5% v. 0.5%

Initial Claims - 7/28

365K v. 357K

Challenger Job Cuts - July

-44.5% v. -9.5%

Construction Spending - June

0.4% v. 1.6%

ISM Index - July

49.8 v. 49.7

ADP Employment - July

163K v. 172K

Consumer Confidence - July

65.9 v. 52.7

Chicago PMI - July

53.7 v. 52.9

Case-Shiller 20-city Index - May

-0.7% v. -1.9%

Personal Income - June

0.5% v. 0.3%

Personal Spending - June

0.0% v. -0.1%

Core PCE Prices - June

0.2% v. 0.1%

Employment Cost Index - Q2

0.5% v. 0.4%

Next week’s economic highlights include Consumer Credit on Tuesday, Productivity and Unit Labor Costs on Wednesday, Initial Jobless Claims, the Trade Balance, and Wholesale Inventories on Thursday, and Import and Export Prices and the Treasury Budget on Friday.

The Markets:

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

Oil rose almost 5% as the U.S. dollar index and treasuries fell after this morning’s better than expected jobs report sent the Dow, Nasdaq, and S&P about 2% higher.

Among the big names making news in the market Friday were RBS, P&G, Boeing, LinkedIn, Viacom, Knight, and Bristol-Myers.

GATA Posts:

Treasury audits NY Fed's gold but only to evade leasing, swapping, oversubscription issues

The Statistics:

Activity from: 8/02/2012

Gold Warehouse Stocks:	10,808,554.786	-280.82
Silver Warehouse Stocks:	138,855,214.516	+545,467.06

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	1251.925	40,250,633	US$64,455m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	123.88	3,982,972	US$6,390m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	147.79	4,751,614	US$7,748m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$575m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	40.91	1,315,135	US$2,098m

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.86: -0.04 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,759.01: +50.24 change from yesterday’s data.

The Miners:

ITH’s (THM) private placement and Richmont’s (RIC) second quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

WINNERS

1. Exeter	XRA+11.89% $1.60
2. McEwen	MUX+10.38% $3.19
3. Solitario	XPL +8.47% $1.28

LOSERS

1. NovaGold	NG -6.36% $3.68
2. Avino	ASM-4.07% $1.18
3. Richmont	RIC -1.41% $3.50

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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