Gold rose $3.81 to $1763.01 at about 4:30AM EST, but it then fell throughout most of the rest of trade and ended near its late session low of $1723.66 with a loss of 1.92%.Silver slipped to as low as $33.32 and ended with a loss of 1.98%.
Euro gold fell to about €1313, platinum lost $9 to $1617.50, and copper gained 12 cents to about $3.90.
Gold and silver equities fell about 2% in the first 20 minutes of trade before they bounced back higher in midmorning trade, but they still ended with over 1% losses.
The BLS net birth/death adjustment subtracted 367,000 payrolls from January’s data. Private Payrolls rose 257,000.
All of this week’s other economic reports:
Initial Claims - 1/28
Productivity - Q4
Unit Labor Costs - Q4
Challenger Job Cuts - January
Construction Spending - December
ISM Index - January
ADP Employment - January
Consumer Confidence - January
Chicago PMI - January
Case-Shiller 20-city Index - November
Employment Cost Index - Q4
Personal Income - December
Personal Spending - December
PCE Prices - Core - December
Next week’s economic highlights include Consumer Credit on Tuesday, Initial Jobless Claims and Wholesale Inventories on Thursday, and the Trade Balance, Michigan Sentiment, and the Treasury Budget on Friday.
Charts Courtesy of http://finance.yahoo.com/
Oil rose on better than expected jobs data that raised demand expectations.
The U.S. dollar index ended slightly lower in mixed trade.
Treasuries fell as the Dow, Nasdaq, and S&P rose over 1% on optimism over better than expected economic data.
Among the big names making news in the market Friday were Goldman Sachs, Panasonic, Aon, and BB&T.
“Once again, as has been the recent pattern in the gold market, gold priced in terms of the Euro, or "EuroGold", is putting in a very strong showing in today's [Thursday’s] trading session. If you note on the weekly chart, it has moved to within about 32 euros of its former all-time high in price. Many traders/investors may be dismissing European Sovereign debt issues, but the gold market certainly has one eye on it.
I want to see how this market acts now that we are moving into these regions as this will be a decent barometer of sentiment towards the woes surrounding Europe. Any further escalation of issues associated with those problems will carry this market to the all-time high. The flip side becomes if traders feel that the worst is over and is behind them.
I should point out that as gold nears this all-time high in euro terms, it is also moving into a region where I expect it to encounter significant selling resistance in US Dollar terms, namely the zone near $1775 - $1780. That makes two separate charts showing two distinct resistance levels. If the bulls can power it through both levels, we will see a sharper move higher in gold. If it fails here, expect some longs to begin booking profits and liquidating longs while awaiting a lower buy back in point.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
Activity from: 2/02/2012
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: Change in Total Tonnes from yesterday’s data: SPDE added 6.046 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 177.68: +0.73 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,621.94: +12.99 change from yesterday’s data.
Tanzanian Royalty’s (TRX) Preliminary Economic Assessment contract and AuRico’s (AUQ) monthly update were among the big stories in the gold and silver mining industry making headlines Friday.
CGR +2.74% $1.50
PZG +2.23% $2.75
LON -6.04% $1.40
LSG -5.92% $1.43
EGO -4.77% $14.76
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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