-- Posted Thursday, 2 August 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1588.70 | -$10.50 |
Silver | $27.12 | -$0.25 |
XAU | 147.72 | -0.93% |
HUI | 400.47 | -0.74% |
GDM | 1159.20 | -0.81% |
JSE Gold | 2424.91 | +36.84 |
USD | 83.32 | +0.19 |
Euro | 121.81 | -0.46 |
Yen | 127.87 | +0.38 |
Oil | $87.13 | -$1.78 |
10-Year | 1.478% | -0.061 |
T-Bond | 151.50 | +1.21875 |
Dow | 12878.88 | -0.71% |
Nasdaq | 2909.77 | -0.36% |
S&P | 1365.00 | -0.74% |
The Metals:
Gold climbed almost 1% to $1615.05 by a little after 8AM EST, but it then fell to as low as $1584.97 by early afternoon in New York and ended with a loss of 0.66%. Silver slumped to as low as $26.97 and ended with a loss of 0.91%.
Euro gold fell to about €1305, platinum lost $8.70 to $1384, and copper dropped 8 cents to about $3.30.
Gold and silver equities saw slight gains for most of the morning, but they then turned back lower in late trade and ended with modest losses.
The Economy:
Report | For | Reading | Expected | Previous |
Challenger Job Cuts | July | -44.5% | - | -9.5% |
Initial Claims | 7/28 | 365K | 365K | 357K |
Factory Orders | June | -0.5% | 0.6% | 0.5% |
Tomorrow at 8:30AM EST brings July’s jobs data. Nonfarm Payrolls are expected at 100,000, the Unemployment Rate is expected at 8.2%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.5. At 10AM is the ISM Services report for July expected at 52.3.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell and the U.S. dollar index rose as the euro dropped after ECB President Mario Draghi failed to announce any actual new measures to be taken by the European Central Bank, as many believed he had promised to do last week.
Treasuries rose as the Dow, Nasdaq, and S&P fell on disappointment over Europe.
Among the big names making news in the market today were Bristol-Myers, Knight, Eloqua, Gap, Macy’s, Earthlink, GM, and Facebook.
GATA Posts:
Swiss gold repatriation movement leader interviewed
Jan Skoyles: Vietnam's new war -- against gold
South Korean central bank says it bought 16 tonnes of gold in July
The Statistics:
As of close of business: 8/01/2012
Gold Warehouse Stocks: | 10,808,835.606 | -1,719.235 |
Silver Warehouse Stocks: | 138,309,747.456 | -287,542.774 |
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 | 1251.925 | 40,250,633 | US$64,254m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 123.89 | 3,983,107 | US$6,339m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 147.75 | 4,750,199 | US$7,746m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$570m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 40.91 | 1,315,135 | US$2,098m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.90: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,708.77: +21.11 change from yesterday’s data.
The Miners:
ITH’s (THM) new IR manager, Gold Fields’ (GFI) possible dismissals, Kinross Gold’s (KGC) new CEO, and Huldra Silver’s (HDA.V) amended Credit Agreement were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG +4.76% $2.20 |
2. Revett | RVM+3.44% $3.01 |
3. Seabridge | SA+3.07% $14.75 |
LOSERS
1. Solitario | XPL -7.09% $1.18 |
2. Kinross | KGC-5.92% $7.47 |
3. Alexco | AXU-4.29% $4.02 |
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 Thursday, 2 August 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Modestly Lower
