October 26: Gold and Silver End Slightly Lower on the Week

Friday, October 26th

	Close	Gain/Loss	On Week
Gold	$1712.00	-$0.70	-0.59%
Silver	$32.06	-$0.06	-0.06%
XAU	182.72	-0.77%	-1.66%
HUI	491.31	-0.86%	-0.89%
GDM	1412.28	-0.73%	-0.90%
JSE Gold	2329.53	-29.40	+0.87%
USD	80.05	-0.05	+0.51%
Euro	129.34	UNCH	-0.67%
Yen	125.68	+1.14	-0.36%
Oil	$86.28	+$0.23	-4.19%
10-Year	1.750%	-0.078	-1.02%
Bond	148.00	+1.28125	+0.30%
Dow	13107.21	+0.03%	-1.77%
Nasdaq	2987.95	+0.06%	-0.59%
S&P	1411.94	-0.07%	-1.48%

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The Metals:

Gold fell $12.20 to $1700.50 in Asia before it rose to as high as $1718.50 by a little after 10AM EST, but it then fell back off into the close and ended with a loss of 0.04%. Silver dropped to $31.578 in Asia before it rebounded to $32.331 in New York, but it then also fell back off into the close and ended with a loss of 0.19%.

Euro gold remained at about €1323, platinum lost $18.70 to $1543, and copper remained at about $3.56.

Gold and silver equities fell over 1% by early afternoon before they bounced back higher in late trade, but they still ended with slight losses on the day.

The Economy:

Report	For	Reading	Expected	Previous
GDP	Q3	2.0%	1.9%	1.3%
Chain Deflator	Q3	2.8%	2.0%	1.6%
Michigan Sentiment	Oct	82.6	83.1	83.1

All of this week’s other economic reports:

Pending Home Sales - September

0.3% v. -2.6%

Durable Orders - September

9.9% v. -13.1%

Durable Orders -ex Trans. - September

2.0% v. -2.1%

Initial Claims - 10/20

369K v. 392K

New Home Sales - September

389K v. 368K

FHFA Housing Price Index - August

0.7% v. 0.1%

Next week’s economic highlights include Personal Income and Spending and Core PCE Prices on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, ADP Employment, the Employment Cost Index, and Chicago PMI on Wednesday, Initial Jobless Claims, Productivity, Unit Labor Costs, the ISM Index, and Construction Spending on Thursday, and October’s jobs data and Factory Orders on Friday.

The Markets:

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

Oil ended slightly higher as the U.S. dollar index dropped on this morning’s economic data.

Treasuries rose on worries about Europe.

The Dow, Nasdaq, and S&P closed near unchanged in mixed trade as traders digested more earnings reports.

Among the big names making news in the market Friday were Citigroup, Amazon, Apple, Merck, KKR, and Comcast.

GATA Posts:

Telegraph's Evans-Pritchard did try to get comment from central banks

Bundesbank says New York Fed will help meet gold audit request

Jesse: Gold and silver are the strategic high ground in the currency war

The Statistics:

Activity from: 10/25/2012

Gold Warehouse Stocks:	11,243,299.568	+96.45
Silver Warehouse Stocks:	141,820,119.236	-547,959.94

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	1336.904	42,982,793	US$73,736m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	140.81	4,527,106	US$7,766m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	155.69	5,005,489	US$8,162m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$615m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	42.45	1,364,715	US$2,214m

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

COMEX Gold Trust (IAU) Total Tonnes in Trust: 208.46: +0.46 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,923.19: +30.12 change from yesterday’s data.

The Miners:

Solitario’s (XPL) technical report, Eldorado’s (EGO) third quarter results, and AngloGold’s (AU) returning workers were among the big stories in the gold and silver mining industry making headlines Friday.

WINNERS

1. Solitario	XPL +3.23% $1.60
2. Loncor	LON +2.83% $1.06
3. Paramount	PZG+2.78% $2.59

LOSERS

1. Jaguar	JAG -5.26% $1.08
2. Almaden	AAU -3.07% $2.53
3. Gold Resource	GORO-2.63% $16.30

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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