-- Posted Thursday, 9 February 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1728.80 | -$4.70 |
Silver | $33.84 | -$0.13 |
XAU | 198.32 | -0.32% |
HUI | 533.09 | -0.20% |
GDM | 1537.82 | -0.20% |
JSE Gold | 2933.33 | +43.81 |
USD | 78.60 | -0.01 |
Euro | 132.83 | +0.24 |
Yen | 128.73 | -1.11 |
Oil | $99.84 | +$1.13 |
10-Year | 2.047% | +0.072 |
T-Bond | 141.53125 | -0.6875 |
Dow | 12890.46 | +0.05% |
Nasdaq | 2927.23 | +0.39% |
S&P | 1351.95 | +0.15% |
The Metals:
Gold fell a few dollars to $1728.77 in London before it shot to as high as $1752.80 by about 9:30AM EST, but it then fell back off for most of the rest of trade and ended with a loss of 0.27%. Silver surged to as high as $34.42 before it also fell back off in New York and ended with a loss of 0.38%.
Euro gold fell to about €1301, platinum lost $10 to $1653, and copper gained 7 cents to about $3.97.
Gold and silver equities rose about 1% at the open, but they then fell back to about unchanged by early afternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 2/04 | 358K | 370K | 373K |
Wholesale Inventories | Dec | 1.0% | 0.4% | 0.0% |
U.S. Mortgage Servicers in $26B Settlement Bloomberg
Rate on 30-year fixed mortgage holds at record low MarketWatch
Tomorrow at 8:30AM EST brings the Trade Balance for December expected at -$48.2 billion. At 9:55 is Michigan Sentiment for February expected at 74.0 and at 2PM is the Treasury Budget for January expected at -$40.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on decent economic data and hopes for Greece that sent the U.S. dollar index lower.
Treasuries fell after today’s 30 year note auction sold at a yield of 3.24% with a bid to cover of 2.47.
The Dow, Nasdaq, and S&P saw slight gains as “as Greek political leaders struck a deal on a package of austerity measures needed to secure international rescue funds.”
Among the big names making news in the market today were Cisco, Kodak, PepsiCo, Groupon, and Oracle.
The Commentary:
“Unleaded Gasoline prices rallied off their lows with the inception of tensions in the Straits of Hormuz but that has now taken a back seat to the LIQUIDITY PARTY being thrown by the Federal Reserve.
Can we say, "DEJA VU!"
Get used to further pain at the gasoline pump once again thanks to our illustrious money masters who continue to throw both senior citizens and the average citizen under the bus in the name of jamming the stock market higher to supposedly bolster consumer confidence. Yeah, I feel extremely confident - confident that food and energy prices are going to resume their upward march once again thanks to these bozos.
Wait until you see beef and pork prices later this spring and summer. You ain't seen nuthin' yet!”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Brokers suspended in LIBOR manipulation inquiry
The Statistics:
Activity from: 2/08/2012
Gold Warehouse Stocks: | 11,430,145 | -500 |
Silver Warehouse Stocks: | 129,268,469 | -1,955 |
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 | 1277.135 | 41,061,167 | US$71,742m |
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$6,384m |
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$6,985m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 472,826 | US$798m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 40.37 | 1,298,036 | US$2,251m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 178.44: +0.76 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,664.26: No change from yesterday’s data.
The Miners:
Comstock’s (LODE) priced public offering, Lake Shore’s (LSG) agreement with Franco-Nevada (FNV), and Silvercorp’s (SVM) forecasted increase in production were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Lake Shore | LSG +8.45% $1.54 |
2. Harmony | HMY+4.38% $13.11 |
3. Taseko | TGB +3.06% $3.71 |
LOSERS
1. Comstock | LODE -4.10% $1.87 |
2. Mines MGMT | MGN -3.81% $2.02 |
3. Solitario | XPL -3.57% $1.62 |
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 2012
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-- Posted Thursday, 9 February 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Lower
