• Gold: 1,191.52 -6.71
  • Silver: 16.25 -0.30
  • Euro: 1.247 -0.004
  • USDX: 88.279 0.638
  • Oil: 68.88 -4.55

Gold Seeker Weekly Wrap-Up: Gold and Silver End Little Changed on the Week

|
February 17, 2012 - 5:20pm

Please Note: US Markets are closed on Monday in observance of Presidents’ Day. Canadian markets are closed too for a variety of holidays.

 

 

Close

Gain/Loss

On Week

Gold

$1722.10

-$6.30

+0.15%

Silver

$33.17

-$0.31

-0.90%

XAU

192.82

-1.49%

-0.97%

HUI

520.72

-1.24%

-0.61%

GDM

1505.72

-1.22%

-0.53%

JSE Gold

2831.64

+28.01

-3.21%

USD

79.36

+0.02

+0.30%

Euro

131.48

+0.16

-0.17%

Yen

125.73

-1.05

-2.40%

Oil

$103.24

+$0.93

+4.63%

10-Year

2.010%

+0.017

+2.08%

Bond

142.09375

-0.1875

-0.48%

Dow

12949.87

+0.35%

+1.16%

Nasdaq

2951.78

-0.27%

+1.65%

S&P

1361.23

+0.23%

+1.38%

 

The Metals:

 

Gold bumped up to $1735.40 at about 8:30AM EST before it fell all of the way back to $1717.12 by late morning in New York and then bounced back higher in afternoon trade, but it still ended with a loss of 0.36%. Silver slipped to as low as $33.05 before it also bounced back higher, but it still ended with a loss of 0.93%.

 

Euro gold fell to about €1309, platinum gained $8.70 to $1628, and copper fell 9 cents to about $3.72.

 

Gold and silver equities fell about 1.5% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Jan

0.2%

0.3%

0.0%

Core CPI

Jan

0.2%

0.1%

0.1%

Leading Indicators

Jan

0.4%

0.5%

0.5%

 

Senate OKs payroll tax cut extension, sends to Obama Reuters

 

All of this week’s other economic reports:

 

Philadelphia Fed - February

10.2 v. 7.3

 

PPI - January

0.1% v. -0.1%

 

Core PPI - January

0.4% v. 0.3%

 

Building Permits - January

676K v. 671K

 

Housing Starts - January

699K v. 689K

 

Initial Claims - 2/11

348K v. 361K

 

NAHB Housing Market Index - February

29 v. 25

 

Capacity Utilization - January

78.5% v. 78.6%

 

Industrial Production - January

0.0% v. 1.0%

 

Net Long-Term TIC Flows - December

$17.9B v. $61.3B

 

Empire Manufacturing - February

19.5 v. 13.5

 

Business Inventories - December

0.4% v. 0.3%

 

Import Prices - January

0.3% v. -0.1%

 

Import Prices ex-oil - January

0.1% v. 0.2%

 

Export Prices - January

0.2% v. -0.5%

 

Export Prices ex-ag. - January

0.0% v. -0.2%

 

Retail Sales - January

0.4% v. 0.0%

 

Next week’s economic highlights include Existing Home Sales on Tuesday, Initial Jobless Claims on Thursday, and Michigan Sentiment and New Home Sales on Friday.

 

The Markets:

 

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

 

Oil rose on continued concerns about Iran.

 

The U.S. dollar index waffled near unchanged in quiet trade.

 

Treasuries fell as the Dow and S&P rose on optimism over a deal for Greece over the weekend.

 

Among the big names making news in the market Friday were Citigroup, Yelp, Amazon, and Gilead.

 

GATA Posts:

 

Italian police seize $6 trillion of fake U.S. T-bonds

Another misplaced sneer about gold from The Wall Street Journal

Gold Switzerland's interview with Embry covers gold market manipulation

Import data implies gold buying by China's central bank

Hide your gold in the attic and central banking does the rest

 

The Statistics:

Activity from: 2/16/2012

Gold Warehouse Stocks:

11,431,131

-450

Silver Warehouse Stocks:

128,808,936

-322,200

 

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

1281.285

41,194,582

US$70,549m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

118.63

3,813,918

US$6,556m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.23

4,058,350

US$6,985m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

472,783

US$788m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.37

1,297,879

US$2,235m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.023 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.27: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,591.72: No change from yesterday’s data.

 

The Miners:

 

Freeport’s (FCX) plans to extend its contract with Indonesia's government, Gold Fields’ (GFI) quarterly results, and Extorre’s (XG) cancelled bought deal financing were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Mag Silver

MVG+5.71% $9.25

2. Solitario

XPL +5.00% $1.68

3. Kimber

KBX +2.65% $1.16

LOSERS

1. Extorre

XG -6.03% $8.26

2. Franco Nevada

FNV -4.13% $42.25

3. Rubicon

RBY -3.64% $3.71

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2012

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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About Chris Mullen

Chris Mullen has been the Chief Content Manager of GoldSeek.com, SilverSeek.com, UraniumSeek.com, GoldReview.com, CapitalUpdates.com, and Gold-Seeker.com since 2004. Sign up for free email lists from these sites at http://email.goldseek.com/

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