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Gold Seeker Closing Report: Gold and Silver Fall About 1%
By: Chris Mullen, Gold-Seeker.com


-- Posted Tuesday, 27 December 2011 | | Disqus

 

Close

Gain/Loss

Gold

$1593.20

-$14.00

Silver

$28.65

-$0.43

XAU

182.66

-1.33%

HUI

503.97

-1.52%

GDM

1439.69

-1.58%

JSE Gold

2955.86

+64.12

USD

79.81

-0.20

Euro

130.68

+0.19

Yen

128.44

+0.41

Oil

$101.34

+$1.66

10-Year

2.009%

-0.021

T-Bond

142.4375

+0.46875

Dow

12291.35

-0.02%

Nasdaq

2625.20

+0.25%

S&P

1265.43

+0.01%

 
 

 

The Metals:

 

Gold fell to as low as $1589.60 by early afternoon in New York before it bounced back higher in the last few hours of trade, but it still ended with a loss of 0.87%.  Silver slipped to as low as $28.488 and ended with a loss of 1.48%.

 

Euro gold fell to about €1219, platinum gained $4.50 to $1427, and copper fell 6 cents to about $3.40.

 

Gold and silver equities fell about 1.5% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Oct

-3.4%

-3.0%

-3.5%

Consumer Confidence

Dec

64.5

58.0

55.2

 

Tomorrow at 7AM EST brings the MBA Mortgage Index for 12/24.

 

The Markets:

 

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

 

Oil rose on Iran’s threat to shut down the Strait of Hormuz.

 

The U.S. dollar index saw slight losses as the Dow, Nasdaq, and S&P traded mostly modestly higher on decent economic data.

 

Treasuries rebounded from last week’s notable losses.

 

Among the big names making news in the market Friday were Sears, GE Capital, and Mead Johnson.

 

GATA Posts:

 

 

Free market in gold starts scaring China too

J.S. Kim: Did bankers crash MF Global to crash gold and silver?

China central bank researcher says gold is only safe haven now

Jim Rickards sees 'Currency Wars' destroying dollar

China, Japan to back direct trade of currencies, sidestepping dollar

 

The Statistics:

Activity from: 12/23/2011

Gold Warehouse Stocks:

11,279,397

-3,504

Silver Warehouse Stocks:

115,296,210

-67,260

 

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

1254.570

40,335,691

US$64,817m

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$5,962m

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$6,524m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

473,061

US$728m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$2,118m

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: 172.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,605.79: -93.76 change from yesterday’s data.

 

The Miners:

 

There were no big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Timmins

TGD +2.69% $1.91

2.  Gold Resource

GORO+2.16% $22.25

3.  Lake Shore

LSG +1.68% $1.21

 

LOSERS

1.  Entree

EGI -6.72% $1.11

2.  Tanzanian Royalty

TRX -6.10% $2.31

3.  NovaGold

NG -5.82% $8.26

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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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 Tuesday, 27 December 2011 | Digg This Article | Source: GoldSeek.com

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