June 8: Gold and Silver End Mixed on the Week
Gold continued yesterday’s dive and fell another $34.70 to as low as $1556.90 in early Asian trade, but it then climbed its way back higher for most of the rest of the day and ended with a gain of 0.19%. Silver slipped to as low as $27.948 by a little after 4AM EST before it also rallied back higher in London and New York and ended unchanged on the day.
Euro gold rose to about €1276, platinum lost $6.50 to $1431.50, and copper dropped 6 cents to about $3.31.
Gold and silver equities fell about 2% at the open, but they soon rallied back to about unchanged on the day and ended with modest gains.
All of this week’s other economic reports:
Consumer Credit - April
Initial Claims - 6/2
Productivity - Q1
Unit Labor Costs - Q1
ISM Services - May
Factory Orders - April
Next week’s economic highlights include Export and Import Prices and the Treasury Budget on Tuesday, Retail Sales, PPI, and Business Inventories on Wednesday, Initial Jobless Claims, CPI, and the Current Account Balance on Thursday, and Empire Manufacturing, Net Long Term TIC Flows, Industrial Production, Capacity Utilization, and Michigan Sentiment on Friday.
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose “after a Spanish credit rating downgrade added to investor reluctance to take on risk and ratcheted up concern the European debt crisis was intensifying.”
The Dow, Nasdaq, and S&P fell at the open on worries about Europe, but they then turned back higher midmorning and ended with decent gains on hopes that talks over the weekend will result in a bailout for Spain.
Among the big names making news in the market Friday were Chesapeake, Google, Facebook, Anadarko, and McDonald’s.
Activity from: 6/07/2012
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: 177.27: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,669.08: -0.17 change from yesterday’s data.
Buenaventura’s (BVN) resumed operations and Comstock’s (LODE) cured BLM notice were among the big stories in the gold and silver mining industry making headlines Friday.
1. Gold Reserve
RBY +5.05% $2.91
RIC +3.31% $6.25
XG-12.00% $ $2.64
THM -5.01% $3.22
MUX -3.49% $2.49
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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