-- Posted Thursday, 15 December 2011 | | Disqus
| Close | Gain/Loss |
Gold | $1566.20 | -$6.10 |
Silver | $28.94 | +$0.13 |
XAU | 180.56 | -1.11% |
HUI | 501.39 | -1.47% |
GDM | 1429.74 | -1.49% |
JSE Gold | 2947.96 | -4.86 |
USD | 80.30 | -0.24 |
Euro | 130.13 | +0.26 |
Yen | 128.38 | +0.27 |
Oil | $93.87 | -$1.08 |
10-Year | 1.913% | +0.012 |
T-Bond | 144.46875 | -0.28125 |
Dow | 11868.81 | +0.38% |
Nasdaq | 2541.01 | +0.07% |
S&P | 1215.75 | +0.32% |
The Metals:
Gold rose over $20 to $1593.87 by a little before 8AM EST before it fell back to $1560.75 by late morning in New York and then bounced back higher in the last few hours of trade, but it still ended with a loss of 0.39%. Silver dropped to as low as $28.097 in Asia, but it then climbed to as high as $29.279 in New York and ended with a gain of 0.45%.
Euro gold fell to about €1203, platinum lost $14 to $1400.50, and copper remained at about $3.27.
Gold and silver equities fell about 1% by midmorning and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 12/10 | 366K | 390K | 385K |
PPI | Nov | 0.3% | 0.1% | -0.3% |
Core PPI | Nov | 0.1% | 0.1% | 0.0% |
Empire Manufacturing | Dec | 9.53 | 3.0 | 0.61 |
Current Account Balance | Q3 | -$110.3B | -$110.0B | -$118.0B |
Net Long-Term TIC Flows | Oct | $4.8B | - | $68.3B |
Industrial Production | Nov | -0.2% | 0.2% | 0.7% |
Capacity Utilization | Nov | 77.8% | 77.8% | 78.0% |
Philadelphia Fed | Dec | 10.3 | 4.5 | 3.6 |
Jobless claims at 3.5 year low, factories mixed Reuters
Fewer foreclosed homes in November, but outlook isn't bright Yahoo
Fixed mortgage rates drop again to record lows Yahoo
Tomorrow at 8:30AM EST brings CPI for November expected at 0.1%. Core CPI is also expected at 0.1%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on worries about falling energy demand due to Europe’s ongoing debt crisis.
The U.S. dollar index and treasuries fell as the Dow, Nasdaq, and S&P rose on better than expected economic data.
Among the big names making news in the market Friday were Morgan Stanley, Honeywell, FedEx, First Solar, Victoria’s Secret, Discover, and Lam Research.
The Commentary:
“Gold continued falling lower today (Wednesday) plummeting over 4% as it failed to hold support near $1650. Once that gave way, it did not take long before it ran the downside stops gathered there which fueled further selling. That selling gathered additional momentum once $1620 could not hold and really ramped up after $1600 collapsed.
There has been severe technical damage done to the charts with today's breach of 3 chart support levels. The last line of defense for the bulls to prevent a drop all the way to $1500 is in a band near $1560 - $1535.
One point of slight comfort for the bulls is that the HUI has thus far held support down near the 500 level. If the Dollar continues heading higher however, it might not be able to keep from succumbing to selling pressures.
Bonds are rallying strongly today suggesting a flight out of the Euro and by consequence risk trades and back into Treasuries and the US Dollar.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Class-action lawsuit to seek recovery for MF Global customers
Jeff Nielson: The bankers' new gold
Peter Grandich: A million reasons why I love gold
The Statistics:
Activity from: 12/14/2011
Gold Warehouse Stocks: | 11,335,920 | +39,671 |
Silver Warehouse Stocks: | 111,149,469 | -1,897 |
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 | 1294.796 | 41,628,978 | US$65,510m |
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$5,837m |
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$6,392m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,125 | US$718m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 41.00 | 1,318,316 | US$2,252m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,944 | US$8m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 172.82: +0.76 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,769.12: No change from yesterday’s data.
The Miners:
Tanzanian Royalty’s (TRX) Special Mining License, Royal Gold’s (RGLD) royalty acquisition, Newmont’s (NEM) completion of its previously announced reorganization, Richmont’s (RIC) updated resource base calculation, Brigus Gold’s (BRD) independent mineral resource estimate, Silver Bull’s (SVBL) metallurgical program, Great Panther’s (GPL) concentrate inventories and production estimates, and Hecla’s (HL) mine update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. First Majestic | AG +9.71% $16.05 |
2. Allied Nevada | ANV +5.99% $31.52 |
3. Banro | BAA +4.51$ $3.01 |
LOSERS
1. Nevsun | NSU -11.76% $4.95 |
2. Tanzanian Royalty | TRX -10.04% $2.42 |
3. Loncor | LON -9.29% $1.27 |
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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© Gold Seeker 2011
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-- Posted Thursday, 15 December 2011 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed
