-- Posted Wednesday, 26 September 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1751.30 | -$10.10 |
Silver | $33.91 | +$0.19 |
XAU | 186.56 | +0.34% |
HUI | 506.39 | +0.44% |
GDM | 1443.88 | +0.33% |
JSE Gold | 2316.75 | -101.37 |
USD | 79.85 | +0.20 |
Euro | 128.68 | -0.39 |
Yen | 128.71 | +0.15 |
Oil | $89.98 | -$1.39 |
10-Year | 1.618% | -0.064 |
T-Bond | 149.875 | +1.50 |
Dow | 13413.51 | -0.33% |
Nasdaq | 3093.70 | -0.77% |
S&P | 1433.32 | -0.57% |
The Metals:
Gold dropped $24.60 to $1736.80 by a little before 11AM EST before it bounced back higher midday, but it still ended with a loss of 0.57%. Silver slipped to as low as $33.32 by a little after 8AM EST, but it then rallied back higher throughout most of the rest of trade and ended with a gain of 0.56%.
Euro gold fell to about €1361, platinum gained $4.70 to $1630.20, and copper fell a few cents to about $3.72.
Gold and silver equities fell over 2% at the open before they rose to see about 1% gains by early afternoon, but they then fell back off a bit into the close and ended with only modest gains.
The Economy:
Report | For | Reading | Expected | Previous |
New Home Sales | Aug | 373K | 380K | 374K |
CEO confidence tumbles to 3-year low: Roundtable Reuters
Mortgage applications rose as rates hit new lows: MBA Reuters
Fed’s Evans Calls for More Easing, Warns of ‘Lost Decade’ Bloomberg
Tomorrow brings Initial Jobless Claims, Durable Goods Orders, GDP, and Pending Home Sales.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose on worries about Europe that held the Dow, Nasdaq, and S&P mostly slightly lower.
“Germany, the Netherlands and Finland said late yesterday Spain should bear the cost of problems in their banks, with the European Stability Mechanism assuming only a limited burden in recapitalizations. The Bank of Spain said the economy kept falling at a “significant pace” in the third quarter. Reports showed new U.S. home sales trailed the median economist estimate, French consumer confidence dropped for a third month in September and Italian retail sales declined in July.”
The Energy Information Administration reported that crude inventories fell 2.45 million barrels, gasoline inventories fell 500,000 barrels, and distillates fell 500,000 barrels.
Today’s $35 billion 5-year note auction sold at a high yield of 0.647% with a bid to cover of 3.06.
Among the big names making news in the market today were Kraft Foods, Barnes & Noble, RadioShack, Cargill, Ameriprise, and Costco.
GATA Posts:
Jeff Thomas: Manipulation of the gold price
The Statistics:
As of close of business: 9/25/2012
Gold Warehouse Stocks: | 10,903,591.528 | +6,699.389 |
Silver Warehouse Stocks: | 140,861,804.483 | -38,484.081 |
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 | 1331.331 | 42,803,608 | US$75,804m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 135.61 | 4,359,962 | US$7,597m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 153.91 | 4,948,492 | US$8,069m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$626m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.45 | 1,364,715 | US$2,214m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.523 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.82: +0.31 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,015.99: No change from yesterday’s data.
The Miners:
Freeport’s (FCX) dividend, Timberline’s (TL) drill results, and Excellon’s (EXN.TO) illegal demonstration were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Reserve | GRZ +9.38% $3.15 |
2. Golden Star | GSS +6.52% $1.96 |
3. MAG Silver | MVG+5.81% $11.83 |
LOSERS
1. Solitario | XPL -7.03% $1.72 |
2. Loncor | LON -6.28% $1.08 |
3. Mines MGMT | MGN-5.26% $1.44 |
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
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
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, 26 September 2012 | Digg This Article | Source: GoldSeek.com