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Gold Seeker Closing Report: Gold Gains While Dow Drops
By: Chris Mullen, Gold-Seeker.com


-- Posted Tuesday, 10 April 2012 | | Disqus

 

Close

Gain/Loss

Gold

$1659.00

+$17.70

Silver

$31.71

+$0.23

XAU

167.07

+0.66%

HUI

449.25

+1.20%

GDM

1301.71

+1.21%

JSE Gold

2262.88

-49.26

USD

79.86

+0.10

Euro

130.84

-0.22

Yen

123.95

+1.26

Oil

$101.02

-$1.44

10-Year

1.988%

-0.049

T-Bond

141.40625

+0.8125

Dow

12715.93

-1.65%

Nasdaq

2991.22

-1.83%

S&P

1358.59

-1.71%

 
 

 

The Metals:

 

Gold rose to as high as $1653.82 in Asia before it fall all the way back to $1631.92 by about 11AM EST, but it then shot back higher midday and ended near its early afternoon high of $1662.90 with a gain of 1.08%.  Silver climbed to $31.83 before it dropped back to $31.161, but it also rallied back higher in late trade and ended with a gain of 0.73%.

 

Euro gold rose to about €1268, platinum lost $16.50 to $1594, and copper dropped 7 cents to about $3.65.

 

Gold and silver equities traded lower for most of the morning, but they then climbed back higher in afternoon trade and ended with about 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Feb

0.9%

0.5%

0.6%

 

Job Openings in U.S. Rose in February, Hiring Accelerated Bloomberg

Bernanke Calls on Regulators to Curb Shadow Banking Risks Bloomberg

 

Tomorrow at 8:30AM EST brings Import and Export Prices for March and at 2PM is the fed’s Beige Book for April and the Treasury Budget for March expected at -$193.0 billion.

 

The Markets:

 

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

 

The U.S. dollar index and treasuries rose while oil fell along with the Dow, Nasdaq, and S&P as a surge in Spanish and Italian bond yields fueled concern Europe’s debt crisis is worsening.

 

Among the big names making news in the market today were Facebook, Best Buy, Yahoo, DirecTV, Goldman Sachs, and GM.

 

GATA Posts:

 

 

Ted Butler: JPM's TV appearance hints of major change in silver market

Financial Survival Network interviews GATA Chairman Murphy

Allan Flynn: Two simple questions would explode the BIS' gold rigging

 

The Statistics:

As of close of business: 4/09/2012

Gold Warehouse Stocks:

11,154,726.921

+7,220.586

Silver Warehouse Stocks:

139,610,888.100

-448,503.01

 

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

1286.621

41,366,147

US$67,970m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.09

3,700,319

US$6,064m

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

472,500

US$757m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

39.87

1,281,721

US$2,124m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.77: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,665.38: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) assay results, SEMAFO’s (SMF.TO) first quarter gold production, Allied Nevada’s (ANV) updated mine plan, Seabridge’s (SA) trading on the NYSE, Brigus Gold’s (BRD) drill results, Randgold’s (GOLD) settlement in Mali, SilverCrest’s (SVL.V) 2011 financial results, and Golden Minerals’ (AUMN) NI 43-101 report and increased production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Jaguar

JAG +14.11% $4.61

2.  Nevsun

NSU +5.37% $3.53

3.  Buenaventura

BVN+4.85% $41.93

 

LOSERS

1.  Entree

EGI -5.22% $1.09

2.  Revett

RVM-4.10% $3.74

3.  Loncor

LON-3.28% $1.18

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 2012

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, 10 April 2012 | Digg This Article | Source: GoldSeek.com

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