-- Posted Wednesday, 22 December 2004 | Digg This Article
Market Analysis from CapitalUpdates.com:
The final reading for third quarter GDP was revised up from 3.9% to 4.0% and the Chain Deflator was revised up from 1.3% to 1.4%. “The U.S. economy grew at a slightly stronger rate than thought in the third quarter because imports were not as hefty as first estimated, the Commerce Department said on Wednesday, though corporate profits weakened.”
With the markets closed on Friday, tomorrow brings a pretty hefty amount of economic reports to bring us into the holiday weekend. At 8:30AM EST are Durable Orders for November expected at 0.7%, Initial Claims for 12/18 expected at 335,000, Personal Income for November expected at 0.2%, and Personal Spending for November expected at 0.3%. At 9:45AM is the revised reading of Michigan Sentiment for December expected at 95.7 and at 10AM are New Home Sales for November expected at 1,200,000.
ADVERTISEMENT
Trade Gold & Silver Online
Looking to trade gold and silver online? The NEW C.B.O.T. 100 ounce gold and 5,000 ounce silver futures allow you to electronically trade precious metals online. Among the benefits are: 100% electronic platform, transparent markets, longer trading hours (21-hour trading days!) two contract sizes, competitive exchange fees and CBOT clearing.
Click here for free information!
Oil plummeted today as oil supplies were reported larger than expected this morning and cold weather turns milder than most expected. Oil lost $1.52 or 3.3% to $44.24.
The 10-Year Treasury note yield gained 0.033 points to 4.201% as the March 2005 US Treasury bond lost 13/32 to 112 15/32.
The Dow, Nasdaq, and S&P continued yesterday’s gains and remain at or near 3 and ½ year highs. The Dow gained 0.52% to 10815.89, the Nasdaq gained 0.28% to 2157.03, and the S&P gained 0.34% to 1209.57.
The U.S. dollar index gained 0.09 points to 81.98, the euro gained 0.26 points to 133.94, and the yen gained 0.18 points to 96.04.
Notice: Holiday Schedules:
Markets:
Thursday Dec 23 – Markets and indices are open during normal hours.
Friday Dec 24 - US markets closed all day. Canadian markets open until 10 am PST.
Monday Dec 27 - US markets open normal hours. Canadian markets closed.
Tuesday Dec 28 - US markets open normal hours. Canadian markets closed.
Wednesday Dec 29 - US and Canadian markets open as normal.
NYMEX Schedule:
Thursday Dec 23 - Energy markets, including NYMEX ClearPortsm clearing, close at 1 PM.
Aluminum and palladium close at 12 noon; copper and silver at 12:05 PM; and platinum and gold at 12:10 PM.
Friday Dec 24 - Electronic trading closed December 23; reopens 7 PM, December 26.
Gold & Silver Report from GoldSeek.com & SilverSeek.com:
Gold Warehouse Stocks: | 5,584,817 | - |
Silver Warehouse Stocks: | 104,036,600 | - |
Gold and silver moved modestly lower in thin trade with both metals suffering their minor losses in New York trade as they closed the session near the bottom of their ranges. Gold lost $1.20 to $440.00 and silver lost $0.09 to $6.78.
The XAU, HUI, and GDM also moved slightly lower in trade that is quite slow due to the holidays. The XAU lost 0.87% to 99.12, the HUI lost 0.73% to 214.64, and the GDM lost 1% to 683.39.
Gold & Silver Stock News Update from GoldReview.com:
The big story today was Newmont admitting that they knowingly emitted mercury into the Indonesian atmosphere as far back as three years ago, though they deny any health impact. 10 new upgrades and downgrades from UBS, Claude Resources’ private placement, Newmont’s acceleration of expiration of rights, and Arizona Star’s special committee appointment to consider Bema Gold’s bid were among the other big stories in the gold and silver mining industry making headlines today; get the full stories at http://www.goldreview.com/. Access our archives here and use the menu on the left hand side in order to navigate through all of our stories.
- Written by Chris Mullen
à Special offer: Try a 6-month $99.99 six-month subscription today and receive a receive one of the following free offers:
($35 value)
- Conquer the Crash (use coupon: F17B5)
- Elliott Wave Principle (use coupon: 608D3)
The Gold Seeker Closing Report is a free edition providing a daily wrap-up of gold & gold-related news. For more in-depth analysis of the gold markets, subscribe to Gold Seeker.
All sources are given within the report and most articles can be found as they are released at http://www.capitalupdates.com/, http://www.goldseek.com/, http://www.silverseek.com/, and http://www.goldreview.com/.
© Gold Seeker 2004
Note: The following 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. GoldSeek.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 GoldSeek.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. GoldSeek.com and employees associated with Gold Seek LLC do not trade the stocks mentioned in stock reports for one week prior to and one week following publication. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. GoldSeek.com may have been compensated for their services in preparing and publishing this report. 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 Wednesday, 22 December 2004 | Digg This Article
Gold Seeker Closing Report – December 22, 2004
