-- Posted Wednesday, 9 May 2012 | | Disqus
Gold fell over $27 to as low as $1579.74 by about 9AM EST, but it then rallied back higher into the close and ended with a loss of just 0.98%. Silver slipped to as low as $28.629 before it also rallied back higher, but it still ended with a loss of 1.02%.
Euro gold fell to under €1230, platinum lost $15 to $1493, and copper dropped a couple of cents to about $3.67.
Gold and silver equities fell about 2% at the open, but they then rose to find about 3% gains by midday and remained near that level for the rest of trade.
Mortgage applications gained last week: MBA Reuters
Wage Growth Bolsters Spending as Americans Extend Hours Bloomberg
Home Prices Rise in Half of U.S. Cities as Markets Stabilize Bloomberg
Tomorrow at 8:30AM EST brings Export and Import Prices for April, the Trade Balance for March expected at -$50.2 billion, and Initial Jobless Claims for 5/05 expected at 365,000. At 2PM is the Treasury Budget for April expected at $58.0 billion.
Charts Courtesy of http://finance.yahoo.com/
Oil remained slightly lower after the Energy Information Administration reported that crude inventories rose 3.7 million barrels, gasoline inventories fell 2.6 million barrels, and distillates fell 3.3 million barrels.
The U.S. dollar index and treasuries rose on continued worries about Europe that sent the Dow, Nasdaq, and S&P lower again, but late day rumors about a rescue for Greece pared those moves somewhat.
New Greek poll looms as government efforts founder Reuters
Among the big names making news in the market today were RIM, Fannie Mae, Disney, Macy’s, Yahoo, Verizon, and AOL.
Gold has changed overnight, and likely will again
Encouragement from Embry and Sinclair
As of close of business: 5/08/2012
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.13: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,585.83: No change from yesterday’s data.
Pretivm’s (PVG) closed offering, Comstock’s (LODE) completed drilling, Nevsun’s (NSU) first quarter results, and Great Panther’s (GPL) updated mineral resource estimates were among the big stories in the gold and silver mining industry making headlines today.
JAG +15.28% $1.66
2. Vista Gold
VGZ +8.43% $2.83
3. Endeavour Silver
EXK +7.34% $8.77
1. Mines MGMT
2. Golden Star
GSS -4.14% $1.39
LON -3.27% $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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© Gold Seeker 2012
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-- Posted Wednesday, 9 May 2012 | Digg This Article | Source: GoldSeek.com