September 28: Gold and Silver End Near Unchanged on the Week

Chris Mullen

Friday, September 28th

	Close	Gain/Loss	On Week
Gold	$1773.30	-$4.00	+0.01%
Silver	$34.52	-$0.12	UNCH
XAU	191.00	-0.61%	-2.15%
HUI	513.82	-0.58%	-2.22%
GDM	1479.60	-0.47%	-2.01%
JSE Gold	2394.30	+50.08	-2.59%
USD	79.94	+0.39	+0.74%
Euro	128.50	-0.65	-1.04%
Yen	128.16	-0.70	+0.12%
Oil	$92.19	+$0.34	-0.75%
10-Year	1.637%	-0.003	-6.99%
Bond	149.375	-0.125	+2.33%
Dow	13437.13	-0.36%	-1.05%
Nasdaq	3116.23	-0.65%	-2.00%
S&P	1440.67	-0.45%	-1.33%

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The Metals:

Gold traded mostly slightly higher in Asia and London, but it then drifted back lower in New York and ended with a loss of 0.23%. Silver slipped to as low as $34.27 and ended with a loss of 0.35%.

Euro gold rose to a new ALL-TIME HIGH at about €1380, platinum gained $13.25 to $1656.50, and copper climbed to about $3.76.

Gold and silver equities traded mostly slightly lower and ended with modest losses.

The Economy:

Report	For	Reading	Expected	Previous
Personal Income	Aug	0.1%	0.2%	0.1%
Personal Spending	Aug	0.5%	0.5%	0.4%
PCE Prices - Core	Aug	0.1%	0.1%	0.1%
Chicago PMI	Sep	49.7	52.9	53.0
Michigan Sentiment	Sep	78.3	79.0	79.2

All of this week’s other economic reports:

Pending Home Sales - August

-2.6% v. 2.4%

GDP - Q2

1.3% v. 1.7%

GDP Deflator - Q2

1.6% v. 1/6%

Durable Orders - August

-13.2% v. 4.1%

Durable Orders -ex Trans. - August

-1.6% v. -1.3%

Initial Claims - 9/22

359K v. 385K

New Home Sales - August

373K v. 374K

Consumer Confidence - September

70.3 v. 61.3

FHFA Housing Price Index - July

0.2% v. 0.7%

Case-Shiller 20-city Index - July

1.2% v. 0.5%

Next week’s economic highlights include the ISM Index and Construction Spending on Monday, ADP Employment, ISM Services, and FOMC Minutes on Wednesday, Initial Jobless Claims and Factory Orders on Thursday, and September’s jobs data and Consumer Credit on Friday.

The Markets:

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

Oil closed higher on continued concerns about Iran’s nuclear program.

The U.S. dollar index rose on renewed worries about Spain that sent the Dow, Nasdaq, and S&P lower.

Treasuries ended slightly lower in mixed trade.

Among the big names making news in the market Friday were Apple, BofA, Kodak, and Realogy.

GATA Posts:

Interviewed by GoldMoney, Martenson and Hera agree QE is just a bank bailout

Why gold bulls are too timid for takeovers

RBS traders boasted of LIBOR 'cartel'

The Statistics:

Activity from: 9/27/2012

Gold Warehouse Stocks:	11,009,271.744	+36,341.772
Silver Warehouse Stocks:	142,046,728.454	+587,380.24

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	1320.777	42,464,312	US$75,391m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	135.60	4,359,814	US$7,732m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	154.96	4,981,996	US$8,124m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$635m
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: 199.82: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,046.12: No change from yesterday’s data.

The Miners:

Newmont’s (NEM) labor woes and Huldra Silver’s (HDA.V) investor relations agreement were among the big stories in the gold and silver mining industry making headlines Friday.

WINNERS

1. Solitario	XPL +8.19% $1.85
2. Sandstorm	SAND+1.26% $12.86
3. Royal Gold	RGLD+1.22% $99.83

LOSERS

1. Jaguar	JAG-5.51% $1.20
2. Richmont	RIC-4.80% $4.76
3. Hecla	HL -4.24% $6.55

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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