-- Posted Wednesday, 10 October 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1762.90 | -$1.10 |
Silver | $34.02 | +$0.17 |
XAU | 187.43 | +0.70% |
HUI | 501.80 | +0.43% |
GDM | 1444.26 | +0.58% |
JSE Gold | 2416.29 | -22.57 |
USD | 79.89 | -0.12 |
Euro | 128.99 | +0.19 |
Yen | 127.95 | +0.11 |
Oil | $91.25 | -$1.14 |
10-Year | 1.691% | -0.029 |
T-Bond | 148.71875 | +0.75 |
Dow | 13344.97 | -0.95% |
Nasdaq | 3051.78 | -0.43% |
S&P | 1432.56 | -0.62% |
The Metals:
Gold climbed up to $1768.16 by about 8AM EST before it fell back to $1757.40 in the next 45 minutes of trade, but it then chopped its way back higher into the close and ended with a loss of just 0.06%. Silver slipped to $33.691 in Asia, but it then rose to as high as $34.14 in New York and ended with a gain of 0.5%.
Euro gold fell to about €1367, platinum lost $19 to $1668, and copper remained at about $3.72.
Gold and silver equities saw almost 2% gains about an hour into trade, but they then drifted back lower in late morning trade and ended only slightly higher.
Gold Best of Biggest ETFs as Traders Seek Haven: Riskless Return Bloomberg
The Economy:
Report | For | Reading | Expected | Previous |
Wholesale Inventories | Aug | 0.5% | 0.6% | 0.6% |
The Fed's Beige Book from September “said today that the U.S. economy was expanding “modestly” last month, supported by improvements in housing and auto sales, even as the labor market showed little change.”
Job Openings in U.S. Decreased 32,000 in August, Hiring Rose Bloomberg
Mortgage applications fell last week: MBA Reuters
Tomorrow at 8:30AM EST brings Export and Import Prices for September, Initial Jobless Claims for 10/06 expected at 370,000, and the Trade Balance for August expected at -$43.8 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
The U.S. dollar index ended slightly lower as the euro rose on hopes for a bailout deal for Spain.
Treasuries extended higher after today’s $21 billion 10-year note auction sold at a high yield of 1.70% with a bid to cover of 3.26.
Oil fell along with the Dow, Nasdaq, and S&P on worries about global economic growth after Alcoa said China’s slowing growth will cut global demand for aluminum.
Among the big names making news in the market today were Alcoa, Chevron, JPMorgan, Facebook, Microsoft, OCZ, Bain Capital, Nokia, Toyota, and EADS and BAE.
GATA Posts:
Are oil price benchmarks rigged just like LIBOR?
Steve Forbes: Gold can save us from disaster
Jeffrey Lewis: Silver prices, priceless rumors
The Statistics:
As of close of business: 10/09/2012
Gold Warehouse Stocks: | 11,200,586.003 | -4,136.933 |
Silver Warehouse Stocks: | 144,419,390.578 | +841,272.56 |
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$76,450m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 142.47 | 4,580,530 | US$8,078m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 154.70 | 4,973,894 | US$8,111m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$632m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.45 | 1,364,715 | US$2,214m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 205.45: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.
The Miners:
AngloGold’s (AU), Gold Fields’ (GFI) and Harmony’s (HMY) offer to raise the wages of their lowest-paid workers, AuRico’s (AUQ) asset sale, Nevsun’s (NSU) exploration license, Kinross Gold’s (KGC) CFO departure, Paramount’s (PZG) resource estimate, Keegan’s (KGN) revised mineral resource estimate, Endeavour’s (EXK) resolved work stoppage, Great Panther’s (GPL) third quarter production results, and First Majestic’s (AG) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. AuRico | AUQ +20.56% $7.74 |
2. Golden Star | GSS +3.68% $1.97 |
3. Gold Resource | GORO+3.41% $20.65 |
LOSERS
1. Mines MGMT | MGN -7.64% $1.33 |
2. Northern Dynasty | NAK -4.57% $3.97 |
3. Gold Reserve | GRZ -3.77% $3.32 |
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 Wednesday, 10 October 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Near Unchanged
