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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen


-- Posted Wednesday, 5 September 2012 | | Disqus

 

Close

Gain/Loss

Gold

$1693.60

-$1.70

Silver

$32.24

-$0.09

XAU

169.60

-0.14%

HUI

458.11

+0.45%

GDM

1322.20

+0.24%

JSE Gold

2266.34

+0.55

USD

81.26

-0.09

Euro

125.98

+0.33

Yen

127.58

+0.04

Oil

$95.36

+$0.06

10-Year

1.594%

+0.013

T-Bond

149.96875

-0.25

Dow

13047.48

+0.09%

Nasdaq

3069.27

-0.19%

S&P

1403.44

-0.11%

 
 

 

The Metals:

 

Gold fell to $1687.40 in Asia before it climbed back to almost unchanged at $1694.81 by a little after 9AM EST, but it then chopped back lower into the close and ended with a loss of 0.1%.  Silver slumped to $31.93 in Asia before it rallied back to as high as $32.35 in New York, but it then drifted back lower midday and ended with a loss of 0.28%.

 

Euro gold fell to about €1345, platinum lost $2.50 to $1564.50, and copper climbed 6 cents to about $3.53.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Productivity

Q2

2.2%

1.8%

1.6%

Unit Labor Costs

Q2

1.5%

1.4%

1.7%

 

Mortgage Applications Decrease According to MBA Survey LoanSafe

 

Tomorrow at 8:15AM EST brings ADP Employment for August expected at 143,000.  At 8:30 are Initial Jobless Claims for 9/01 expected at 373,000 and at 10AM is the ISM Services report for August expected at 52.4.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil ended slightly higher in quiet trade.

 

The U.S. dollar index fell as the euro rose on renewed confidence about the ECB’s bond buying program.

 

Treasuries fell as the Dow, Nasdaq, and S&P held near unchanged on decent economic data and optimism about Europe.

 

Among the big names making news in the market today were Facebook, 3M, and FedEx.

 

GATA Posts:

 

 

'Currency Wars' author Jim Rickards to speak at CMRE meeting in NYC Oct. 18

 

The Statistics:

As of close of business: 9/04/2012

Gold Warehouse Stocks:

10,923,615.238

-

Silver Warehouse Stocks:

141,004,418.518

-955,468.18

 

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

1293.138

41,575,667

US$70,234m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

131.69

4,234,046

US$7,173m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

149.83

4,817,275

US$7,855m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$608m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.26

1,326,494

US$2,121m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.619 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 189.33: +0.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,642.97: -28.63 change from yesterday’s data.

 

The Miners:

 

IAMGOLD’s (IAG) exploration update, Gold Fields’ (GFI) resolved strike, AuRico’s (AUQ) guidance update, Seabridge’s (SA) discovery, Paramount’s (PZG) updated resource estimate, Goldcorp’s (GG) analyst tour, MAG Silver’s (MVG) closed private placement, and Great Panther’s (GPL) purchased project were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +6.43% $1.82

2.  Nevsun

NSU +5.73% $4.43

3.  Eurasian

EMXX +5.33% $2.37

 

LOSERS

1.  AuRico

AUQ -20.74% $5.54

2.  Avino

ASM -3.77% $1.53

3.  Northern Dynasty

NAK -3.69% $3.39

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2012

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted Wednesday, 5 September 2012 | Digg This Article | Source: GoldSeek.com

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