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Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week

By: Chris Mullen, Gold-Seeker.com



-- Posted 10 June, 2011 | |

 

Close

Gain/Loss

On Week

Gold

$1528.90

-$12.70

-0.80%

Silver

$36.29

-$1.00

+0.50%

XAU

193.73

-1.75%

-4.69%

HUI

508.39

-1.78%

-5.36%

GDM

1480.76

-1.82%

-5.47%

JSE Gold

2393.39

-29.62

-5.88%

USD

74.87

+0.71

+1.57%

Euro

143.51

-1.56

-1.94%

Yen

124.51

+0.05

-0.11%

Oil

$99.29

-$2.64

-0.93%

10-Year

2.971%

-0.027

-0.87%

Bond

126.94875

+0.46875

+1.10%

Dow

11951.91

-1.42%

-1.64%

Nasdaq

2643.73

-1.53%

-3.26%

S&P

1270.98

-1.40%

-2.24%

 
 

 

The Metals:

 

Gold remained near unchanged in Asia and London before it dropped in early New York trade to as low as $1525.79 by a little after 10AM EST and then rallied back higher midday, but it then fell back off again in late trade and ended with a loss of 0.82%.  Silver fell to as low as $36.222 in the last minutes of trade and ended with a loss of 2.68%.

 

Euro gold rose to about €1065, platinum lost $11.50 to $1826, and copper fell over 5 cents to about $4.05.

 

Gold and silver equities fell over 2% by midmorning before they rallied back higher midday, but they still ended with over 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

May

0.2%

-

0.9%

Export Prices ex-ag.

May

0.5%

-

0.9%

Import Prices

May

0.2%

-

2.1%

Import Prices ex-oil

May

0.4%

-

0.6%

Treasury Budget

May

-$57.6B

-$59.0B

-$135.9B

 

All of this week’s other economic reports:

 

Wholesale Inventories - April

0.8% v. 1.3%

 

Initial Claims - 6/04

427K v. 426K

 

Trade Balance - April

-$43.7B v. -$46.8B

 

MBA Mortgage Index - 6/04

-0.4% v. -4.0%

 

Consumer Credit - April

$6.3B v. $4.8B

 

Next week’s economic highlights include Retail Sales, PPI, and Business Inventories on Tuesday, CPI, Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, and Capacity Utilization on Wednesday, Initial Jobless Claims, Housing Starts, Building Permits, the Current Account Balance, and the Philadelphia Fed on Thursday, and Michigan Sentiment and Leading Economic Indicators on Friday.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index rose on renewed worries over Greece that sent the euro lower.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell on concerns over weak economic growth and sovereign debt.

 

Among the big names making news in the market Friday were Ally Financial, GM, Toyota, and Paulson.

 

The Statistics:

Activity from: 6/08/2011

Gold Warehouse Stocks:

11,310,271

+96,450

Silver Warehouse Stocks:

101,014,684

-

 

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

1211.567

38,953,089

US$59,560m

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

Gold Bullion Securities

115.35

3,708,632

US$5,668m

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$6,202m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,131

US$700m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

47.99

1,542,968

US$2,373m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,955

US$8m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 141.32: +1.52 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,914.21 - No change from yesterday’s data.

 

The Miners:

WINNERS

1.  Gold Reserve

GRZ +12.08% $2.32

2.  Revett

RVM +5.39% $4.30

3.  Paramount

PZG +3.77% $3.30

 

LOSERS

1.  Kimber

KBX -8.54% $1.50

2.  Taseko

TGB -7.23% $4.62

3.  Great Panther

GPL -6.36% $2.65

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

New Trading Symbol for Tanzanian Royalty to become Effective Monday June 13, 2011 - "The Company wishes to announce that its new trading symbol on the NYSE-Amex will now become effective June 13, 2011, two days earlier than previously announced." More
- June 10, 2011 | Item | ShareThis


Gold Finder Appoints Neil Linder as Director - More
- June 10, 2011 | Item | ShareThis


Minera Andes Announces Exploration Drilling Results at the San Jose Mine - More
- June 10, 2011 | Item | ShareThis


Silvermex Files Form 40-F With U.S. Securities and Exchange Commission - "Silvermex Resources Inc. ("Silvermex") (TSX:SLX - News) announces the filing of its 2010 annual report on Form 40-F with the United States Securities and Exchange Commission ("SEC"), pursuant to section 13 of the United States Securities Exchange Act of 1934." More
- June 10, 2011 | Item | ShareThis


Guyana Frontier Reports Drilling Results from Favourable Lake Project - More
- June 10, 2011 | Item | ShareThis


Nevada Sunrise Gold Corporation Provides Project Updates - More
- June 10, 2011 | Item | ShareThis


Monarques Resources Inc. Closes its Initial Public Offering of $6,000,000 - More
- June 10, 2011 | Item | ShareThis


Dia Bras Announces Board of Directors, Executive Officers and Option Plan - More
- June 10, 2011 | Item | ShareThis


Dunav Resources Ltd. Announces Grant of Options - More
- June 10, 2011 | Item | ShareThis


Rockridge Announces Highland Park Group as Strategic Investor and $4.5 Million Private Placement - More
- June 10, 2011 | Item | ShareThis


Fuller Capital Corp. Announces Definitive Agreement, $5 Million Private Placement and Additional Transaction Information for Business Combination - More
- June 10, 2011 | Item | ShareThis


Pan Global Announces Acceleration of Expiry of Warrants - More
- June 10, 2011 | Item | ShareThis


AXMIN Announces Definitive Agreement for the Sierra Leone Asset Spin-Off - More
- June 10, 2011 | Item | ShareThis


Merrex Gold Closes $1,750,000 Private Placement With IAMGOLD - More
- June 10, 2011 | Item | ShareThis


B2Gold Reports on First Quarter 2011 Results - More
- June 10, 2011 | Item | ShareThis


CORRECTION FROM SOURCE: Petaquilla Increases Production and Improves Cash Position - More
- June 10, 2011 | Item | ShareThis


Minera IRL Remains On Track To Meet its Goals in Peru - More
- June 10, 2011 | Item | ShareThis


Barrick Offer for Equinox-Additional Shares Acquired - "Barrick Gold Corporation (NYSE:ABX - News)(TSX:ABX - News) ("Barrick" or "the Company") and its wholly-owned subsidiary, Barrick Canada Inc. (the "Offeror"), announced today that an additional 36,221,770 common shares (the "Equinox Shares") of Equinox Minerals Limited (TSX:EQN - News)(ASX:EQN - News) ("Equinox") representing approximately 4% of the outstanding Equinox Shares on a fully diluted basis have now been taken up under the offer (the "Offer") by the Offeror to acquire all of the Equinox Shares at a price of C$8.15 per Equinox Share. The Offeror has now acquired 789,432,464 Equinox Shares pursuant to the Offer, which represents approximately 91.7% of the outstanding Equinox Shares excluding those owned by Barrick and its affiliates at the date of the Offer. Barrick and its affiliates now collectively own 807,631,217 Equinox Shares, representing approximately 91.8% of the outstanding Equinox Shares on a fully diluted basis." More
- June 10, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2011

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.

 


-- Posted 10 June, 2011 | |


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