-- Posted Thursday, 26 April 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1657.60 | +$13.80 |
Silver | $31.09 | +$0.37 |
XAU | 163.58 | -0.39% |
HUI | 443.05 | -0.05% |
GDM | 1279.29 | -0.07% |
JSE Gold | 2287.26 | +77.44 |
USD | 78.93 | -0.13 |
Euro | 132.37 | +0.15 |
Yen | 123.53 | +0.48 |
Oil | $104.55 | +$0.43 |
10-Year | 1.959% | -0.025 |
T-Bond | 142.28125 | +0.34375 |
Dow | 13204.62 | +0.87% |
Nasdaq | 3050.61 | +0.69% |
S&P | 1339.98 | +0.67% |
The Metals:
Gold saw modest gains in Asia and London, but it then accelerated even higher in New York and ended near its early afternoon high of $1660.90 with a gain of 0.84%. Silver surged to as high as $31.29 and ended with a gain of 1.2%.
Euro gold rose to about €1252, platinum gained $14 to $1563.50, and copper gained 7 cents to about $3.77.
Gold and silver equities traded mostly slightly lower and ended with minor losses.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 4/21 | 388K | 373K | 389K |
Pending Home Sales | Mar | 4.1% | 0.5% | 0.4% |
Tomorrow at 8:30AM EST brings first quarter GDP expected at 2.5%. The Chain Deflator is expected at 2.2%, and the Employment Cost Index is expected at 0.5%. At 9:55 is Michigan Sentiment for April expected at 75.7.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose and the U.S. dollar index fell as the yen climbed higher ahead of tomorrow’s meeting by the Bank of Japan.
Treasuries rose after today’s $29 billion seven-year note auction sold at a high yield of 1.347% (a record low) with a bid to cover of 2.83.
The Dow, Nasdaq, and S&P rose on better than expected housing data and earnings reports.
Among the big names making news in the market today were Dow Chemical, Kellogg, Exxon Mobil, AstraZeneca, Chesapeake, Ally, Bristol-Myers, and J&J.
The Commentary:
“Gold appears to be catching some decent buying in today's session - buying that has been strong enough to take it out of the range within it has been trading for approximately the last ten days or so. Note the resistance levels shown on the chart and you can see the progress.
It still has a big hurdle to clear if it is going to get any fireworks going and that hurdle remains the same as it has been for some time now, namely the region up near $1680.
It seems that Central Bank buying below the market has shored up support on the chart.
One gets the impression that the gold market simply does not believe that the Bernanke-led Fed is going to be able to avoid doing another round of QE.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
The Statistics:
As of close of business: 4/25/2012
Gold Warehouse Stocks: | 10,992,980.615 | +50,929.178 |
Silver Warehouse Stocks: | 140,648,049.776 | +47,007.97 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | awaited | awaited | US$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:
Barrick’s (ABX) sale of its entire shareholding of approximately 20.4% in Highland Gold Mining Limited (HGM.L), Aurizon’s (AZK) drill results, Coeur’s (CDE) resumption of full production at Kensington, and Aurcana’s (AUN.V) record silver production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Aurizon | AZK +7.06% $5.31 |
2. Midway | MDW+5.84%$1.45 |
3. Nevsun | NSU+5.31% $3.37 |
LOSERS
1. Goldcorp | GG -5.70% $38.71 |
2. NovaGold | NG -3.04% $7.02 |
3. Pretivm | PVG-2.77% $15.09 |
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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-- Posted Thursday, 26 April 2012 | Digg This Article | Source: GoldSeek.com