-- Posted Monday, 30 April 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1666.10 | +$3.80 |
Silver | $31.02 | -$0.26 |
XAU | 164.89 | -0.55% |
HUI | 443.28 | -1.38% |
GDM | 1282.93 | -0.96% |
JSE Gold | 2240.61 | -46.65 |
USD | 78.78 | -0.01 |
Euro | 132.37 | -0.16 |
Yen | 125.27 | +0.57 |
Oil | $104.87 | -$0.06 |
10-Year | 1.915% | -0.018 |
T-Bond | 142.875 | +0.15625 |
Dow | 13213.63 | -0.11% |
Nasdaq | 3046.36 | -0.74% |
S&P | 1397.91 | -0.39% |
The Metals:
Gold edged up to $1665.80 in Asia before it fell back to $1646.42 in early New York trade, but it then climbed to a new session high of $1666.20 at about 3PM EST and ended with a gain of 0.23%. Silver slipped to as low as $30.574 before it also bounced back higher, but it still ended with a loss of 0.83%.
Euro gold climbed to about €1259, platinum lost $0.80 to $1565.00, and copper rose slightly to about $3.84.
Gold and silver equities traded about 2% lower for most of the morning, but they then rallied back higher midday and ended with only about 1% losses.
A 'Gold' Finger Behind Bullion's Morning Tumble? WSJ
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | Mar | 0.4% | 0.2% | 0.3% |
Personal Spending | Mar | 0.3% | 0.5% | 0.9% |
PCE Prices - Core | Mar | 0.2% | 0.2% | 0.1% |
Chicago PMI | Apr | 56.2 | 60.0 | 62.2 |
A Real Failure Friday: Five Banks Fail in Worst Week Since April 2011 Yahoo
Tomorrow at 10AM EST brings the ISM Index for April expected at 53.0 and Construction Spending for March expected at 0.5%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries remained firm on renewed worries about Europe that sent the Dow, Nasdaq, and S&P lower.
Stubborn inflation, weak lending weigh on eurozone Yahoo
Spain in recession as austerity bites deep Reuters
Among the big names making news in the market today were Sunoco, and Barnes & Noble and Microsoft.
The Commentary:
“Take a look at the following 5 minute chart and note especially the volume readings posted below each individual price bar. Look just past the 5:00 AM Pacific time hour and you will see the enormous volume spike accompanying the sharp downdraft that occurred in the gold price dropping it $15 in the course of minutes. Analysts are still grasping for an explanation.
The most common is that it was another one of those "fat fingered trades". Have you ever noticed how many fat fingered human beings apparently camp out in the trading community. Last time I checked a skinny finger could hit an "enter" key just as easily as a fat finger could.
My view on this is that gold's psychology changed late last week as it begin seeing some seriously interested buyers whose entrance back on the long side was able to take it up through a minor chart resistance level near $1650 and set it on a course to test overhead resistance at $1680, a key chart level. That is a no-no in the world of the Western Central Banks who cannot tolerate this rebellious upstart of a metal telegraphing to the entire world the failure of their attempts to paper over the problems ailing both Western Europe as the US.
That called forth reinforcements to take the price lower to try to corral the unruly upstart and put it back into the box. As you can see, the selling was met with more buying that completely erased the losses and then added some more gains for good measure.
We are right back to being in position to try to tackle $1680 again. Weakness in the mining shares however is working once again to dampening excitement in the actual metal.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Dutch central banker's memoirs confirm gold price suppression
The Moneychanger interviews GATA secretary about gold and silver suppression
Join GATA at the Vancouver conference in June
Mining CEO McEwen cites GATA's work on Bloomberg TV
Eric Sprott and David Baker: When fundamentals no longer apply, review the fundamentals
Big commercials don't see metals going lower, Arensberg reports
The Statistics:
As of close of business: 4/27/2012
Gold Warehouse Stocks: | 10,895,176.519 | -104,803.826 |
Silver Warehouse Stocks: | 141,563,136.336 | -306,196.17 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | awaited | awaited | US$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:
Rubicon’s (RBY) new COO, Gold Resource’s (GORO) increased dividend, New Gold’s (NGD) and Goldcorp’s (GG) suspended permit, Randgold’s (GOLD) dividend, Pretivm’s (PVG) drill results, and Revett’s (RVM) first quarter 2012 production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Mines MGMT | MGN+12.74% $1.77 |
2. Pretivm | PVG +8.68% $16.90 |
3. Fortuna | FSM +6.63% $4.18 |
LOSERS
1. New Gold | NGD-9.18% $9.10 |
2. Jaguar | JAG -6.23% $2.71 |
3. Entree | EGI -4.39% $1.09 |
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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© Gold Seeker 2012
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-- Posted Monday, 30 April 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed
