The Premier Silver Resource Website
Visit GoldSeek.com
Visit GoldReview.com
Visit UraniumSeek.com

- CLICK HERE TO VISIT THE NEW SILVERSEEK.COM -
Live Spot Silver
Navigation
Silver Market Articles
Silver Discussions at the Forum
Silver Company Links
Silver Market Updates
Silver & Gold Headlines
Silver Stock News
Silver Equity Quotes
Silver & Precious Metals Quotes







 
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall a Little Over 2% on the Week

By: Chris Mullen, Gold-Seeker.com



-- Posted 16 September, 2011 | | Discuss This Article - Comments:

 

Close

Gain/Loss

On Week

Gold

$1811.90

$33.00

-2.43%

Silver

$40.65

$1.19

-2.02%

XAU

217.56

+1.11%

-2.53%

HUI

608.06

+1.73%

-3.21%

GDM

1770.88

+1.72%

-2.95%

JSE Gold

2860.88

+60.88

+0.46%

USD

76.59

+0.33

-0.73%

Euro

137.88

-0.97

+0.91%

Yen

130.15

-0.22

+0.88%

Oil

$87.96

-$1.44

+0.83%

10-Year

2.076%

-0.009

+8.41%

Bond

140.71875

+0.3125

-1.26%

Dow

11509.09

+0.66%

+4.70%

Nasdaq

2622.31

+0.58%

+6.25%

S&P

1216.01

+0.57%

+5.35%

 
 

 

The Metals:

 

Gold fell almost 1% to as low as $1762.30 in Asia, but it then rallied back higher throughout most of trade in London and New York and ended near its late session high of $1821.44 with a gain of 1.86%.  Silver surged to as high as $40.892 and ended with a gain of 3.02%.

 

Euro gold rose to over €1313, platinum gained $36.20 to $1807, and copper fell a few cents to about $3.92.

 

Gold and silver equities rose over 1% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Net Long-Term TIC Flows

July

$9.5B

-

$3.7B

Michigan Sentiment

Sep

57.8

56.3

55.7

 

Unemployment rates rose in majority of states  Yahoo

 

All of this week’s other economic reports:

 

Philadelphia Fed - September

-17.5 v. -30.7

 

Capacity Utilization - August

77.4% v. 77.3%

 

Industrial Production - August

0.2% v. 0.9%

 

Current Account Balance - Q2

-$118.0B v. -$119.3B

 

Empire Manufacturing - September

-8.8 v. -7.7

 

CPI - August

0.4% v. 0.5%

 

Core CPI - August

0.2% v. 0.2%

 

Initial Claims - 9/10

428K v. 417K

 

Business Inventories - July

0.4% v. 0.4%

 

Retail Sales - August

0.0% v. 0.3%

 

Retail Sales ex-auto - August

0.1% v. 0.3%

 

PPI - August

0.0% v. 0.2%

 

Core PPI - August

0.1% v. 0.4%

 

Treasury Budget - August

-$134.2B v. -$129.4B

 

Export Prices - August

0.5% v. -0.4%

 

Export Prices ex-ag. - August

0.3% v. 0.1%

 

Import Prices - August

-0.4% v. 0.3%

 

Import Prices ex-oil - August

0.2% v. 0.2%

 

Next week’s economic highlights include the NAHB Housing Market Index on Monday, Housing Starts and Building Permits on Tuesday, Existing Home Sales and a FOMC rate decision on Wednesday, and Initial Jobless Claims, the FHFA Housing Price Index, and Leading Economic Indicators on Thursday.

 

The Markets:

 

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

 

Oil dropped on worries over slowing energy demand.

 

The U.S. dollar index rose as the euro fell on signs that plans to solve Europe’s debt problems may be delayed.

 

Treasuries found slight gains on uneasiness heading into the weekend.

 

The Dow, Nasdaq, and S&P ended higher for a fifth straight day.

 

Among the big names making news in the market Friday were UBS, SocGen, RIM, BofA, and KKR.

 

GATA Posts:

 

Updated silver lawsuit identifies Morgan trading mechanisms, traders, 'spoof'' and 'fake' trades

Ambrose Evans-Pritchard: China to 'liquidate' U.S. Treasuries, not dollars

How can they notice Swiss franc's devaluation and not gold's too?

Comments from Eric Sprott, AngloGold Ashanti's Mark Cutifani, and Rick Rule

 

The Statistics:

Activity from: 9/14/2011

Gold Warehouse Stocks:

11,402,198

-96

Silver Warehouse Stocks:

104,637,591

+1,256,037

 

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

1241.311

39,909,403

US$71,581m

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$6,721m

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$7,354m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

473,607

US$827m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

45.28

1,455,715

US$2,647m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,949

US$9m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.59 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,956.32 - No change from yesterday’s data.

 

The Miners:

 

Brigus Gold’s (BRD) addition to the S&P/TSX SmallCap Index, Gold Resource’s (GORO) response to multiple negative pieces published by a website known as thestreetsweeper.org, Allied Nevada’s (ANV) Milling Feasibility Study, and MAG Silver’s (MVG) AGM results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Almaden

AAU +9.72% $3.50

2.  Great Panther

GPL +8.36% $3.50

3.  Richmont

RIC +7.48% $12.22

 

LOSERS

1.  Ivanhoe

IVN-3.80% $21.25

2.  Solitario

XPL -3.76% $2.05

3.  Freeport

FCX-2.23% $41.59

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:

Regal Resources Announces Further Results on its Patagonia Project - More
- September 16, 2011 | Item | ShareThis


El Nino Ventures Inc. Joins OTCQX - "ELNOF" - More
- September 16, 2011 | Item | ShareThis


MAG Silver Reports Results of the Annual General and Special Meeting of Shareholders - "MAG Silver Corp. (TSX: MAG.TO - News)(AMEX: MVG - News) ("MAG" or the "Company") announced today that at its annual general and special meeting (the "Meeting") held on September 15, 2011, MAG's shareholders re-elected all previous eight directors, re-appointed Deloitte and Touche LLP as the Company's auditor and approved an amendment to the Company's stock option plan and the grant of options as described in the information circular." More
- September 16, 2011 | Item | ShareThis


Mountain Lake Completes Non-Brokered Private Placement Financing with Sprott Asset Management - More
- September 16, 2011 | Item | ShareThis


Eagle Plains/Bethpage Capital Corp Execute Option Agreement for Hall Lake Property, South-eastern British Columbia - More
- September 16, 2011 | Item | ShareThis


Molycor Gold Corp.: Positive Preliminary Economic Assessment Study for Tami-Mosi Magnesium Project Filed on SEDAR - More
- September 16, 2011 | Item | ShareThis


Pilot Gold Identifies New High-Potential Targets and Confirms Mineralization at Regent - More
- September 16, 2011 | Item | ShareThis


HudBay Minerals to Present at the Credit Suisse Global Steel and Mining Conference - More
- September 16, 2011 | Item | ShareThis


Mill Bay Ventures Increases Private Placement - More
- September 16, 2011 | Item | ShareThis


Magellan Announces Filing of Technical Report on Minerals Rights in Mato Grosso Region, Brazil - More
- September 16, 2011 | Item | ShareThis


Corporate Update From Pershimco and Follow Up on the Meeting of the Shareholders - More
- September 16, 2011 | Item | ShareThis


First Uranium subsidiary advises of purported withdrawal of MWS mining right - More
- September 16, 2011 | Item | ShareThis


First Uranium Corporation - Section 54 lifted at Ezulwini Mine - mining operations resume - More
- September 16, 2011 | Item | ShareThis


Dia Bras Announces Appointment of John S. Donnelly to the Board of Directors - More
- September 16, 2011 | Item | ShareThis


Meunier-144 Deep Drilling Update, Timmins West, Ontario - More
- September 16, 2011 | Item | ShareThis


Valencia Provides Update on the Cachinal Property - More
- September 16, 2011 | Item | ShareThis


RT Minerals (TSX VENTURE: RTM) Announces Drill Results and Property Updates - More
- September 16, 2011 | Item | ShareThis


Amseco Obtains High Values in Gold, Silver, Copper and Zinc in James Bay - More
- September 16, 2011 | Item | ShareThis


Opawica (TSX VENTURE: OPW) Intersects Significant Gold and Copper Mineralization From Complete Results From Two Separate Holes in Maybrun Zone and New Footwall - More
- September 16, 2011 | Item | ShareThis


Calibre Identifies New Gold In-Soil Anomalies at Riscos de Oro - More
- September 16, 2011 | Item | ShareThis


Redhill Resources Corp.: Mutiny Drills More High Grade Gold Deflector North - More
- September 16, 2011 | Item | ShareThis


Highbank Resources Ltd.: Drilling Mobilization on the Highland Valley Property - More
- September 16, 2011 | Item | ShareThis


Eco Oro Minerals Corp. Announces Executive Appointments - More
- September 16, 2011 | Item | ShareThis


B2Gold Corp. Announces Further Positive Exploration Drill Results from the Cebollati Project in Uruguay - More
- September 16, 2011 | Item | ShareThis


CanAlaska Uranium Announces $2,173,500 Brokered Financing - More
- September 16, 2011 | Item | ShareThis


China Gold International Resources "CGG" Graduates From the S&P Small Cap and Equity Small Cap Indexes. CGG Remains in the S&P/TSX Composite Index - More
- September 16, 2011 | Item | ShareThis


U.S. Precious Metals, Inc. Announces Schedule Site Visit of Solidaridad Property - More
- September 16, 2011 | Item | ShareThis


Rainy River Resources Conditionally Approved to Graduate to the TSX - More
- September 16, 2011 | Item | ShareThis


Batero Gold Drills Vertical Hole Intersecting 751.00 Metres Grading 0.54 g/t Gold and 0.13% Copper From 5.00 Metres Below Surface - More
- September 16, 2011 | Item | ShareThis


Apogee to Acquire the Balance of its Chilean Venture - More
- September 16, 2011 | Item | ShareThis


Jayden Completes Earn-In for an Additional 10% Interest in Silver Coin - More
- September 16, 2011 | Item | ShareThis


Carpathian Receives Government Go-Ahead To Build the RDM Mine, Brazil - More
- September 16, 2011 | Item | ShareThis


Molycorp, Fully Funded, Breaks off Discussions with Sumitomo Corporation - More
- September 16, 2011 | Item | ShareThis


Glass Earth to Raise Up to C$5 Million - More
- September 16, 2011 | Item | ShareThis


Paladin Energy Ltd.-Kayelekera Mine, Malawi-Production Resumes After Plant Upgrade - More
- September 16, 2011 | Item | ShareThis


North American Nickel Expands Disseminated and Stockwork Mineralization Associated with a Footwall Embayment Structure on its Post Creek and Halcyon Properties - More
- September 16, 2011 | Item | ShareThis


Alamos Gold Reports a 19% Increase in Measured and Indicated Resources at Agi Dagi and Kirazli and Provides an Exploration Update on Camyurt - More
- September 16, 2011 | Item | ShareThis


Ivanhoe Australia-Moving from Explorer to Producer - More
- September 16, 2011 | Item | ShareThis


Goldcliff Resource Corporation: 3D-IP Locates Twelve Deep-Seated Anomalies at Tulameen - More
- September 16, 2011 | Item | ShareThis


Brigus Gold Added to S&P/TSX Indices - "Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE Amex: BRD) (TSX:BRD.to - News) is pleased to announce that at the end of trading today, Standard & Poor's Canadian Index Operations will add Brigus Gold to their list of companies on S&P/TSX SmallCap Index. Effective Monday, September 19, Brigus will also be added to the S&P/TSX Global Gold Index and the S&P/TSX Global Mining Index." More
- September 16, 2011 | Item | ShareThis


Gold Resource Corporation Responds to "The Street Sweeper's" Recent Articles - "In response to multiple negative pieces published by a website known as thestreetsweeper.org, the management of Gold Resource Corporation (NYSE Amex: GORO) believes the Company is being targeted by individuals or groups holding short positions in its securities in an effort to manipulate the Company's stock price." More
- September 16, 2011 | Item | ShareThis


Allied Nevada Announces Positive Feasibility Study for Hycroft Milling Expansion - "Allied Nevada Gold Corp. ("Allied Nevada", "ANV" or the "Company") (TSX: ANV.TO - News)(AMEX: ANV.TO - News) is pleased to present the positive results of the Milling Feasibility Study (the "Study") for its wholly owned Hycroft Mine located near Winnemucca, Nevada. The information presented below summarizes production from the heap leach expansion currently in progress plus the milling expansion expected to be operational in January, 2015." More
- September 16, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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

© 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 16 September, 2011 | | Discuss This Article - Comments:


Latest Articles


Gold Seeker Closing Report: Gold and Silver Fall Over 2% More
13 December, 2011

Gold Seeker Closing Report: Gold and Silver Fall Almost 3%
12 December, 2011

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Slightly on the Week
9 December, 2011

Gold Seeker Closing Report - Article Archive List

SilverSeek.com is presented to you by:

© 2003 - 2011
SilverSeek.com, Silver Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of SilverSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on SilverSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Disclaimer

The views contained here may not represent the views of SilverSeek.com, its affiliates or advertisers. SilverSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of SilverSeek.com, is strictly prohibited. In no event shall SilverSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.