June 29: Gold and Silver Gain About 2% on the Week
Gold climbed $50.09 to as high as $1607.09 in early afternoon New York trade and ended with a gain of 2.68%. Silver surged to as high as $27.918 in early New York trade before it pared its gains a bit, but it still ended with a gain of 3.93%.
Euro gold rose to about €1264, platinum gained $55.50 to $1443.50, and copper gained 15 cents to about $3.49.
Gold and silver equities jumped over 3% higher at the open and remained near that level for the rest of the day.
PCE Prices - Core
All of this week’s other economic reports:
GDP - Q1
GDP Deflator - Q1
Initial Claims - 6/23
Pending Home Sales - May
Durable Orders - May
Durable Orders ex. Trans. - May
Consumer Confidence - June
Case-Shiller 20-city Index - April
New Home Sales - May
Next week’s economic highlights include the ISM Index and Construction Spending on Monday, Factory Orders on Tuesday, ADP Employment, Initial Jobless Claims, and ISM Services on Thursday, and June’s jobs data on Friday. US markets will close early on Tuesday and remain closed on Wednesday in observance of Independence Day. Canadian markets will be closed on Monday to observe Canada Day.
Charts Courtesy of http://finance.yahoo.com/
“The euro climbed and global shares jumped on Friday after euro zone leaders agreed measures to cut borrowing costs in Spain and Italy and eventually recapitalize the region's banks.
There was no movement towards common euro zone bonds, which leaders including Italy's Mario Monti and France's Francois Hollande have called for, but with expectations at rock bottom before the Brussels summit, the deal caught markets by surprise.”
The Dow, Nasdaq, and S&P rose on relief over Europe.
Among the big names making news in the market Friday were Anheuser-Busch InBev, Coty, RIM, News Corp., Ford, and Melrose and Elster.
Activity from: 6/28/2012
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)
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: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.94: +0.27 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,875.75: No change from yesterday’s data.
New Gold’s (NGD) start of production, Seabridge’s (SA) Preliminary Feasibility Study, ITH’s (THM) interim CEO, Ivanhoe’s (IVN) new directors and company name, SilverCrest’s (SVL.V) AGM results, and Endeavour Silver’s (EXK) extended closing date were among the big stories in the gold and silver mining industry making headlines Friday.
ASM +12.6% $1.25
XRA +9.87% $1.67
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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