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Gold Seeker Closing Report: Gold and Silver End Mixed
By: Chris Mullen


-- Posted Wednesday, 25 April 2012 | | Disqus

 

 

Close

Gain/Loss

Gold

$1643.80

+$2.60

Silver

$30.72

-$0.09

XAU

164.22

+1.96%

HUI

443.25

+2.76%

GDM

1280.26

+2.59%

JSE Gold

2209.82

+33.75

USD

79.06

-0.17

Euro

132.19

+0.24

Yen

122.95

UNCH

Oil

$104.12

+$0.57

10-Year

1.984%

+0.023

T-Bond

141.9375

-0.34375

Dow

13090.72

+0.69%

Nasdaq

3029.63

+2.30%

S&P

1390.69

+1.36%

 
 

 

The Metals:

 

Gold waffled near unchanged in Asia and London and edged up to $1644.30 at about 9:15AM EST before it dropped to as low as $1625.25 immediately after today’s fed statement, but it then climbed to as high as $1646.20 in afternoon trade and ended with a gain of 0.16%.  Silver slipped to as low as $29.98 before it also recovered, but it still ended with a loss of 0.29%.

 

Euro gold fell to about €1243, platinum gained $7.50 to $1549.50, and copper rose a few cents to about $3.70.

 

Gold and silver equities rose about 1% by midday before they fell back near unchanged after the fed’s statement, but they then climbed back higher in the last few hours of trade and ended with about 2.5% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

Mar

-4.2%

-1.7%

1.9%

Durable Goods -ex Trans.

Mar

-1.1%

0.5%

1.9%

 

MBA Reports Decrease in Mortgage Applications Despite Low Interest Rates LoanSafe

 

“Federal Reserve Chairman Ben S. Bernanke said the central bank remains prepared to take additional action if needed to boost the economy, after leaving its policy unchanged today.

 

“We remain prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target,” he said at a press conference today following a meeting of the Federal Open Market Committee in Washington.”

 

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 4/21 expected at 373,000 and at 10AM is the Pending Home Sales report for March expected at 0.5%.

 

The Markets:

 

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

 

Oil ended modestly higher after the Energy Information Administration reported that crude inventories rose 4 million barrels, gasoline inventories fell 2.2 million barrels, and distillates fell 3.1 million barrels.

 

The U.S. dollar index eventually fell after Bernanke’s press conference left the fed’s options open for more stimulative measures if needed.

 

Treasuries pared early losses after today’s $35 billion 5-year note auction sold at a high yield of 0.887% with a bid to cover of 3.09, but they then headed back lower after the fed’s announcement.

 

The Dow, Nasdaq, and S&P rose on better than expected earnings reports.

 

Among the big names making news in the market today were Wells Fargo, Coca-Cola, Harley, Caterpillar, Sprint, Boeing, Apple, Platts, and US Airways,

 

GATA Posts:

 

 

Alasdair Macleod: A plea for sanity

Which gold price are new trade transactions using?

Gene Arensberg: The mining share gods must be crazy

'Real' trading in U.S. markets is down to 16 percent; the rest is machines

Mexico, Russia, Turkey, Kazakhstan raised gold reserves in March

 

The Statistics:

As of close of business: 4/24/2012

Gold Warehouse Stocks:

10,942,051.437

-51,090.765

Silver Warehouse Stocks:

140,601,041.806

-21,187.01

 

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

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: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) Preliminary Economic Assessment, Entree Gold’s (EGI) drill results, Banro’s (BAA) operations updates, and Ivanhoe’s (IVN) comments about SouthGobi Resources’ announcement were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  NovaGold

NG +9.53% $7.24

2.  Extorre

XG +9.43% $4.41

3.  Banro

BAA+8.36% $4.15

 

LOSERS

1.  Seabridge

SA -4.22% $16.58

2.  Loncor

LON -4.17% $1.15

3.  Ivanhoe

IVN-2.63% $11.47

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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 Wednesday, 25 April 2012 | Digg This Article | Source: GoldSeek.com

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