Gold climbed up to $1664.27 in Asia before it fell back to $1639.54 by a little after 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.13%.Silver slipped to as low as $32.12 before it also rallied back higher in New York and ended with a gain of 0.15%.
Euro gold fell to about €1260, platinum lost $9 to $1668.00, and copper fell a couple of cents to about $3.87.
Gold and silver equities waffled near unchanged and ended with slight losses.
Next week’s economic highlights include the NAHB Housing Market Index on Monday, Housing Starts and Building Permits on Tuesday, Existing Home Sales on Wednesday, Initial Jobless Claims, Leading Economic Indicators, and the FHFA Housing Price Index on Thursday, and New Home Sales on Friday.
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
1293.268
41,579,863
US$68,922m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
119.15
3,830,754
US$6,337m
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
472,633
US$756m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.75
1,278,062
US$2,160m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,752.67: No change from yesterday’s data.
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure:The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.The author of this report is not a registered financial advisor.Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.Past results are not necessarily indicative of future results.Any statements non-factual in nature constitute only current opinions, which are subject to change.Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
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/
-0.99%
0.32%
-0.22%
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 3% and 5% on the Week
Close
Gain/Loss
On Week
Gold
$1660.10
+$2.10
-3.02%
Silver
$32.51
+$0.05
-4.86%
XAU
177.33
-0.20%
-5.09%
HUI
476.52
-0.52%
-6.55%
GDM
1382.28
-0.46%
-6.33%
JSE Gold
2457.30
-18.84
-3.33%
USD
79.80
-0.40
-0.24%
Euro
131.67
+0.87
+0.40%
Yen
119.97
+0.17
-1.14%
Oil
$107.06
+$1.95
-0.32%
10-Year
2.298%
+0.017
+12.76%
Bond
137.875
-0.09375
-2.73%
Dow
13232.62
-0.15%
+2.40%
Nasdaq
3055.26
-0.04%
+2.24%
S&P
1404.17
+0.11%
+2.43%
The Metals:
Gold climbed up to $1664.27 in Asia before it fell back to $1639.54 by a little after 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.13%.Silver slipped to as low as $32.12 before it also rallied back higher in New York and ended with a gain of 0.15%.
Euro gold fell to about €1260, platinum lost $9 to $1668.00, and copper fell a couple of cents to about $3.87.
Gold and silver equities waffled near unchanged and ended with slight losses.
The Economy:
Report
For
Reading
Expected
Previous
CPI
Feb
0.4%
0.4%
0.2%
Core CPI
Feb
0.1%
0.2%
0.2%
Industrial Production
Feb
0.0%
0.5%
0.4%
Capacity Utilization
Feb
78.7%
78.8%
78.8%
Michigan Sentiment
Mar
74.3
75.8
75.3
All of this week’s other economic reports:
Philadelphia Fed - March
12.5 v. 10.2
Net Long-Term TIC Flows - January
$101.0B v. $19.1B
PPI - February
0.4% v. 0.1%
Core PPI - February
0.2% v. 0.4%
Initial Claims - 3/10
351K v. 365K
Empire Manufacturing- March
20.2 v. 19.5
Export Prices - February
0.4% v. 0.2%
Export Prices ex-ag. - February
0.5% v. 0.0%
Import Prices - February
0.4% v. 0.0%
Import Prices ex-oil - February
-0.1% v. 0.1%
Current Account Balance - Q4
-$124.1B v. -$110.3B
FOMC Rate Decision - 3/15
0.00% - 0.25%
Business Inventories - February
0.7% v. 0.6%
Retail Sales - February
1.1% v. 0.6%
Retail Sales ex-auto - February
0.9% v. 1.1%
Treasury Budget - February
-$231.7B v. -$222.5B
Next week’s economic highlights include the NAHB Housing Market Index on Monday, Housing Starts and Building Permits on Tuesday, Existing Home Sales on Wednesday, Initial Jobless Claims, Leading Economic Indicators, and the FHFA Housing Price Index on Thursday, and New Home Sales on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on worries about Iran while the U.S. dollar index fell on poor economic data.
Treasuries continued this week’s substantial move lower on inflation worries.
The Dow, Nasdaq, and S&P waffled near unchanged and ended near mixed.
Among the big names making news in the market Friday were Goldman Sachs, Sprint, and Apple.
GATA Posts:
Hinde Capital's Ben Davies on financial and political repression
Indian government again raises tax on gold imports to swat people into line
CFTC notices market rigging by high-frequency trading but action doubtful
Embargo of Iran could restore gold standard in southwest Asia
Departing banker's criticism sends Goldman shares down $2 billion
The Statistics:
Activity from: 3/15/2012
Gold Warehouse Stocks:
11,410,822
+9,704
Silver Warehouse Stocks:
132,230,863
+17,211
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
1293.268
41,579,863
US$68,922m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
119.15
3,830,754
US$6,337m
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
472,633
US$756m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.75
1,278,062
US$2,160m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,752.67: No change from yesterday’s data.
The Miners:
Extorre’s closed financing and Bear Creek’s (BCM.V) new CFO were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1.Avino
ASM+10.14% $2.28
2.Claude
CGR +7.48% $1.15
3.Solitario
XPL +7.41% $1.45
LOSERS
1.Timmins
TGD-10.12% $2.31
2.Exeter
XRA -4.24% $2.71
3.Extorre
XG -3.64% $6.62
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.
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©Gold Seeker 2012
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure:The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.The author of this report is not a registered financial advisor.Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.Past results are not necessarily indicative of future results.Any statements non-factual in nature constitute only current opinions, which are subject to change.Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
About Chris Mullen