-- Posted Wednesday, 13 June 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1618.80 | +$7.20 |
Silver | $28.84 | -$0.14 |
XAU | 162.57 | +0.01% |
HUI | 448.04 | +0.20% |
GDM | 1292.19 | +0.03% |
JSE Gold | 2591.76 | -15.81 |
USD | 82.14 | -0.25 |
Euro | 125.73 | +0.61 |
Yen | 125.97 | +0.26 |
Oil | $82.62 | -$0.70 |
10-Year | 1.599% | -0.062 |
T-Bond | 149.84375 | +1.03125 |
Dow | 12496.38 | -0.62% |
Nasdaq | 2818.61 | -0.86% |
S&P | 1314.88 | -0.70% |
The Metals:
Gold dropped $4.12 to $1607.48 by a little after 7:30AM EST before it surged to as high as $1624.48 in the next couple of hours of trade and then fell back off in early afternoon New York trade to almost unchanged by about 2:30PM EST, but it then rallied back higher into the close and ended with a gain of 0.45%. Silver slipped to $28.74 before it shot up to $29.118, but it then fell back off midday and ended with a loss of 0.48%.
Euro gold fell to about €1288, platinum gained $6.50 to $1460.50, and copper fell a couple of cents to about $3.32.
Gold and silver equities traded mostly slightly higher and ended with modest gains.
Kazakhstan Plans to Increase Gold’s Share to 20% of Reserves
Bloomberg
The Economy:
Report | For | Reading | Expected | Previous |
Retail Sales | May | -0.2% | -0.2% | -0.2% |
Retail Sales ex-auto | May | -0.4% | 0.0% | -0.3% |
PPI | May | -1.0% | -0.7% | -0.2% |
Core PPI | May | 0.2% | 0.2% | 0.2% |
Business Inventories | April | 0.4% | 0.2% | 0.3% |
Analysis: Endless QE? $6 trillion and counting Reuters
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 6/09 expected at 375,000, the first quarter Current Account Balance expected at -$130.9 billion, and CPI for May expected at -0.2%. Core CPI is expected at 0.1%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil turned higher after the Energy Information Administration reported that crude inventories fell 200,000 barrels, gasoline inventories fell 1.7 million barrels, and distillates fell 100,000 barrels, but it then fell back off again in afternoon trade and ended with a modest loss on persistent worries about poor economic growth.
The U.S. dollar index fell on poor economic data in the US and on speculation in Europe that “Greece may seek to modify its austerity program following the June 17 election in a bid to remain in the monetary bloc.”
Treasuries found slight gains on this morning’s poor economic data and then continued higher after today’s $21 billion 10-year note auction sold at a high yield of 1.622%(a record low) with a bid to cover of 3.06.
The Dow, Nasdaq, and S&P waffled on either side of unchanged and ended lower as worries about poor economic data were only somewhat offset by optimism about Europe.
Among the big names making news in the market today were Yahoo and CNBC, Celgene, JPMorgan, and J&J.
GATA Posts:
GATA secretary scheduled for Thursday interview on Channel NewsAsia
Now even Reuters sounds like Jim Sinclair: 'QE to infinity'
Mining shares look to Arensberg like they're bottoming
The Statistics:
As of close of business: 6/12/2012
Gold Warehouse Stocks: | 11,076,368.134 | +643.00 |
Silver Warehouse Stocks: | 143,640,949.200 | +283,165.40 |
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 | 1274.375 | 40,972,422 | US$65,688m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 119.42 | 3,839,509 | US$6,222m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 142.21 | 4,572,331 | US$7,456m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 472,158 | US$740m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 39.23 | 1,261,267 | US$2,022m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.414 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.91: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,696.23: +27.15 change from yesterday’s data.
The Miners:
Lake Shore’s (LSG) forecasted cost savings, Comstock’s (LODE) exploration program, Golden Star’s (GSS) addition to its board of directors, and Huldra Silver’s (HDA.V) filed technical report were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Reserve | GRZ +7.76% $3.61 |
2. Extorre | XG +6.44% $2.48 |
3. McEwen | MUX +6.11% $2.78 |
LOSERS
1. Golden Minerals | AUMN -6.10% $4.93 |
2. Gold Standard | GSV -5.02% $2.46 |
3. Timmins | TGD -5.02% $1.70 |
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 Wednesday, 13 June 2012 | Digg This Article | Source: GoldSeek.com