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Gold Seeker Closing Report: Gold and Silver End Modestly Lower
By: Chris Mullen


-- Posted Monday, 23 April 2012 | | Disqus

 

Close

Gain/Loss

Gold

$1638.20

-$3.80

Silver

$30.85

-$0.80

XAU

161.03

-1.88%

HUI

431.36

-2.39%

GDM

1247.48

-2.29%

JSE Gold

2178.18

-24.24

USD

79.37

+0.18

Euro

131.51

-0.69

Yen

123.24

+0.58

Oil

$103.11

-$0.77

10-Year

1.933%

-0.037

T-Bond

142.71875

+0.75

Dow

12927.17

-0.78%

Nasdaq

2970.45

-1.00%

S&P

1366.94

-0.84%

 
 

 

The Metals:

 

Gold fell to as low as $1623.54 by a little after 8AM EST, but it then rallied back higher in New York and ended with a loss of just 0.23%.  Silver slipped to as low as $30.425 and ended with a loss of 2.53%.

 

Euro gold rose to over €1245, platinum lost $18 to $1557, and copper fell 7 cents to about $3.63.

 

Gold and silver equities fell over 3% in the first hour of trade before they bounced back higher midday, but they still ended with about 2% losses.

 

The Economy:

 

1 in 2 new graduates are jobless or underemployed Yahoo

Companies More Upbeat on U.S. Economy, NABE Survey Shows Bloomberg

Yellen Revealing Twists With No Turns Bloomberg

 

Tomorrow at 9AM EST brings the Case-Shiller 20-city Index for February expected at -3.4% and at 10AM are New Home Sales for March expected at 318,000, Consumer Confidence for April expected at 69.5, and the FHFA Housing Price Index for February.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index and treasuries rose on worries about poor economic data in Europe and China that sent the Dow, Nasdaq, and S&P about 1% lower.

 

German manufacturing shrinks at fastest pace since 2009: PMI Yahoo

China's manufacturing purchasing index hits two-month high The Australian

Euro zone slump deepens unexpectedly in April Reuters

 

Among the big names making news in the market today were Vodafone, ConocoPhillips, Kellogg, MGIC, Wal-Mart, Apple, and Nestle.

 

GATA Posts:

 

 

Harvey Organ tells Chris Martenson about gold and silver futures market rigging

Gordon Chang: China will buy gold to pay for Iranian oil

Future Money Trends interviews GATA Chairman Bill Murphy

GATA Chairman Murphy to address Las Vegas MoneyShow

 

The Statistics:

As of close of business: 4/20/2012

Gold Warehouse Stocks:

10,993,042.192

+90,188.361

Silver Warehouse Stocks:

140,587,221.696

+1,845,663.31

 

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

awaited

awaited

US$awaited

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

Gold Bullion Securities

awaited

awaited

US$awaited

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

ETFS Physical Gold

awaited

awaited

US$awaited

Australian Stock Exchange (ASX)

Gold Bullion Securities

awaited

awaited

US$awaited

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.17: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,552.14: -39.26 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) project in Peru, Eurasian Minerals’ (EMXX) update on the exploration programs underway in Haiti, and Gold Fields’ (GFI) Mineral Resources and Mineral Reserves were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Timmins

TGD+1.88% $2.17

2.  Rubicon

RBY+1.07% $2.83

3.  NovaGold

NG +0.76% $6.66

 

LOSERS

1.  Entree

EGI-11.48% $1.08

2.  Ivanhoe

IVN-6.57% $11.94

3.  Jaguar

JAG -6.56% $2.85

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 Monday, 23 April 2012 | Digg This Article | Source: GoldSeek.com

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