-- Posted Tuesday, 9 October 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1764.00 | -$10.70 |
Silver | $33.85 | -$0.16 |
XAU | 186.13 | -2.08% |
HUI | 499.63 | -2.17% |
GDM | 1435.93 | 2.19% |
JSE Gold | 2438.86 | -16.45 |
USD | 80.01 | +0.42 |
Euro | 128.77 | -0.90 |
Yen | 127.84 | +0.13 |
Oil | $92.39 | +$3.06 |
10-Year | 1.720% | -0.026 |
T-Bond | 147.96875 | -0.28125 |
Dow | 13473.53 | -0.81% |
Nasdaq | 3065.02 | -1.52% |
S&P | 1441.48 | -0.99% |
The Metals:
Gold climbed to $1779.51 in early Asian trade before it fell back to $1760.56 by a little before noon EST and then bounced back higher midday, but it still ended with a loss of 0.6%. Silver rose to $34.21 before it dropped back to $33.554 and then also bounced back higher, but it still ended with a loss of 0.47%.
Euro gold rose to about €1371, platinum lost $2.50 to $1687, and copper fell a couple of cents to about $3.72.
Gold and silver equities fell throughout most of trade and ended with over 2% losses.
The Economy:
U.S. Downgrade Seen as Upgrade as U.S. Debt Dissolved Bloomberg
IMF Sees ‘Alarmingly High’ Risk of Deeper Global Slump Bloomberg
IMF warns global economic slowdown deepens, prods U.S., Europe Reuters
U.S. shadow homes inventory lowest in over three years: CoreLogic Reuters
Tomorrow at 10AM EST brings Wholesale Inventories for August expected at 0.6%. At 2PM is the fed’s Beige Book and the Treasury Budget for September expected at $75.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed higher on increasing worries about a possible supply disruption in the Middle East due to turmoil in Syria.
The U.S. dollar index and treasuries rose as ongoing concerns about Europe dragged the Euro, Dow, Nasdaq, and S&P lower.
“German Chancellor Angela Merkel used her first visit to Athens in five years to maintain pressure on Greek Prime Minister Antonis Samaras to meet austerity pledges, proclaiming her desire to keep the country in the euro.
The two leaders stood side by side at a press conference as protesters massed outside the Parliament building in a capital on virtual lockdown. Merkel has become the face of austerity in a country suffering a fifth year of recession, which many Greeks blame on German-led conditions attached to emergency loans.”
Among the big names making news in the market today were Apple, MetLife, and Advent.
GATA Posts:
Ed Steer: New bullion bank assists Comex gold and silver shorts
New York Sun: Is legal tender next?
The Statistics:
As of close of business: 10/08/2012
Gold Warehouse Stocks: | 11,017,782.149 | - |
Silver Warehouse Stocks: | 143,578,118.018 | -379,504.528 |
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 | 1340.521 | 43,099,107 | US$76,429m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 142.47 | 4,580,582 | US$8,131m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 154.61 | 4,971,011 | US$8,106m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$637m |
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 7.081 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 205.45: +0.85 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.
The Miners:
Comstock’s (LODE) First Pour Commemorative Dore Bar, Turquoise Hill’s (TRQ) project update, Nevsun’s (NSU) third quarter gold production, Timmins Gold’s (TGD) third quarter gold production, Endeavour Silver’s (EXK) illegal work stoppage, and Santacruz Silver’s (SCZ.V) improved payment terms with Minera Hochschild Mexico were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Eurasian | EMXX+10.57% $2.53 |
2. Loncor | LON +2.75% $1.12 |
3. Jaguar | JAG +1.79% $1.14 |
LOSERS
1. Fortuna | FSM -7.51% $4.68 |
2. Great Panther | GPL -5.99% $2.04 |
3. Avino | ASM -5.29% $1.61 |
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 Tuesday, 9 October 2012 | Digg This Article | Source: GoldSeek.com