October 5: Gold and Silver End Near Unchanged on the Week

Chris Mullen

Friday, October 5th

Please note: Canadian markets will be closed on Monday for their Thanksgiving Day. US stock markets will be open, but the bond market will be closed in observance of Columbus Day.

	Close	Gain/Loss	On Week
Gold	$1780.90	-$9.90	+0.43%
Silver	$34.51	-$0.46	-0.03%
XAU	191.53	-1.02%	+0.28%
HUI	513.93	-0.93%	+0.02%
GDM	1479.65	-1.00%	+0.00%
JSE Gold	2408.01	+73.46	+0.57%
USD	79.36	+0.01	-0.73%
Euro	130.25	+0.05	+1.36%
Yen	127.12	-0.31	-0.81%
Oil	$89.88	-$1.83	-2.51%
10-Year	1.732%	+0.067	+5.80%
Bond	147.50	-1.3125	-1.26%
Dow	13610.15	+0.26%	+1.29%
Nasdaq	3136.19	-0.42%	+0.64%
S&P	1460.93	-0.03%	+1.41%

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The Metals:

Gold bumped up to $1795.84 in Asia before it spiked down to $1773.21 and then bounced back higher after this morning’s jobs report was released, but it then fell back off again in the last five hours of trade and ended with a loss of 0.55%. Silver rose to $35.10 in Asia before it slipped back to $34.158 in early New York trade and then also bounced back higher, but it then dropped to as low as $34.297 in late trade and ended with a loss of 1.32%.

Euro gold fell to about €1367, platinum lost $12.70 to $1701.50, and copper fell four cents to about $3.76.

Gold and silver equities saw slight gains about an hour into trade, but they then fell back off for most of the rest of the day and ended with about 1% losses.

The Economy:

Report	For	Reading	Expected	Previous
Nonfarm Payrolls	Sep	114K	120K	142K
Unemployment Rate	Sep	7.8%	8.1%	8.1%
Hourly Earnings	Sep	0.3%	0.2%	0.0%
Average Workweek	Sep	34.5	34.4	34.4
Consumer Credit	Aug	$18.1B	$5.0B	-$2.5B

The BLS net birth/death adjustment subtracted 9,000 payrolls from September’s data. Private Payrolls rose 104,000.

All of this week’s other economic reports:

Factory Orders - August

-5.2% v. 2.6%

Initial Claims - 9/29

367K v. 363K

ISM Services - September

55.1 v. 53.7

ADP Employment - August

162K v. 189K

Construction Spending - August

-0.6% v. -0.4%

ISM Index - September

51.5 v. 49.6

Next week’s economic highlights include Wholesale Inventories, the Treasury Budget, and the Fed's Beige Book on Wednesday, Initial Jobless Claims, the Trade Balance, and Import and Export Prices on Thursday, and PPI and Michigan Sentiment on Friday.

The Markets:

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

Oil extended it’s recent on fall on continued worries about the health of the global economy.

The U.S. dollar index and treasuries fell after this morning’s better than expected jobs data sent the Dow, Nasdaq, and S&P higher, but the dollar then rallied back higher in afternoon trade and stocks erased most of their gains on speculation that today’s drop in the unemployment rate may shorten the fed’s QE3 program.

Among the big names making news in the market Friday were Lehman Brothers, Avon, Sprint, Blockbuster, and Zynga.

The Statistics:

Activity from: 10/04/2012

Gold Warehouse Stocks:	11,012,746.429	-
Silver Warehouse Stocks:	143,114,331.340	+528,187.08

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	1333.440	42,871,438	US$76,785m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	140.55	4,518,740	US$8,076m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	154.28	4,960,116	US$8,088m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$641m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	42.45	1,364,715	US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 9.045 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 204.60: +3.03 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.

The Miners:

WINNERS

1. Sandstorm	SAND+3.51% $14.73
2. Eurasian	EMXX +1.74% $2.34
3. Midway	MDW +1.23% $1.64

LOSERS

1. Almaden	AAU-5.66% $2.50
2. Richmont	RIC -4.94% $4.23
3. Vista Gold	VGZ-4.67% $3.47

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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