-- Posted Monday, 26 November 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1748.40 | +$1.30 |
Silver | $34.08 | +$0.04 |
XAU | 173.98 | -0.20% |
HUI | 462.22 | -0.17% |
GDM | 1343.39 | -0.18% |
JSE Gold | 2347.16 | +24.47 |
USD | 80.19 | +0.02 |
Euro | 129.69 | -0.04 |
Yen | 121.88 | +0.54 |
Oil | $87.74 | -$0.54 |
10-Year | 1.664% | -0.029 |
T-Bond | 150.59375 | +0.5625 |
Dow | 12967.37 | -0.33% |
Nasdaq | 2976.78 | +0.33% |
S&P | 1406.29 | -0.20% |
The Metals:
Gold fell $5.86 to $1745.14 by a little before 5AM EST before it climbed up to $1752.27 and then fell back near its earlier low in morning New York trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.07%. Silver slipped to $33.88 before it rose to $34.20 and then also fell back off in morning New York trade, but it then rose to as high as $34.16 in afternoon trade and ended with a gain of 0.12%.
Euro gold fell to about €1348, platinum lost $9.30 to $1607.20, and copper rose slightly to about $3.54.
Gold and silver equities fell about 2% in the first hour of trade, but they then rallied back higher for most of the rest of the day and ended with only slight losses.
The Economy:
Overnight Rates Surge in Fed’s Operation Twist Bloomberg
Consumers to spend less if middle-class taxes rise: White House Reuters
Retailers Keep Deals Flowing on 13% Holiday-Sales Jump Bloomberg
Home Equity Loans Make Comeback Fueling U.S. Spending Bloomberg
Tomorrow brings Durable Goods Orders, the Case-Shiller 20-city Index, Consumer Confidence, and the FHFA Housing Price Index.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on doubts about the ability to reach a successful agreement for Greece.
The U.S. dollar index waffled near unchanged as euro weakness was offset by yen strength.
Treasuries rose as the Dow and S&P fell on persistent worries about Greece and the fiscal cliff.
Among the big names making news in the market today were Knight Capital, ConocoPhillips, and UBS.
The Commentary:
“Remember that recent call by the Japanese for more yen printing by the Bank of Japan? Obviously this was not lost on the gold market. Can anyone say "Deliberate Currency Debauchment"?
If that is not enough, the Europeans, not wishing to be outdone by the Japanese in the sense of who can debase their currency the fastest, continue to drone out about coming to the aid of Greece. Their remedy - print more money.
I have a bit of counsel to the political and monetary authorities. Why not just cease and desist ALL TAXATION OF YOUR CITIZENS COMPLETELY. You obviously can conjure into existence, out of nothing, all the money that you need. Why bother taxing anyone? Just print what you need and end the illusion of possessing any sort of discipline or ethics altogether.
At least that way your middle class will have something of theirs left over before you bastards destroy what is left of their purchasing power.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Austrian Press Agency cites GATA in report on possible audit of Austria's gold
Indian central bank's candid objective: to 'dematerialize' gold, making it only imaginary
Gold, silver market manipulation argued on 'Keiser Report'
Turkey confirms that gold exports are linked to purchase of Iranian gas
The Statistics:
As of close of business: 11//2012
Gold Warehouse Stocks: | 11,335,594.088 | +5,067.83 |
Silver Warehouse Stocks: | 141,846,499.047 | +532,180.05 |
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 | 1342.197 | 43,152,989 | US$74,828m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 140.07 | 4,503,371 | US$7,874m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 158.23 | 5,087,144 | US$8,295m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$627m |
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: 213.95: +0.30 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,818.07: No change from yesterday’s data.
The Miners:
Agnico-Eagle’s (AEM) sale of its 7,795,574 common shares of Queenston Mining, Keegan’s (KGN) filed Technical Report, Tanzanian Royalty’s (TRX) drill results, Almaden’s (AAU) drill results, IAMGOLD’s (IAG) agreement with Suriname, Gold Fields’ (GFI) quarterly results, Solitario’s (XPL) Mine Plan of Operations, Richmont’s (RIC) CFO appointment, Eldorado’s (EGO) increased credit facility, IMPACT’s (IPT.V) drill results, and Silvercorp’s (SVM) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +5.84% $2.72 |
2. Gold Reserve | GRZ +4.43% $3.30 |
3. Kinross | KGC+2.77% $10.40 |
LOSERS
1. Eurasian | EMXX-3.67% $2.10 |
2. Midway | MDW -2.61% $1.49 |
3. Rubicon | RBY -2.25% $3.04 |
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 Monday, 26 November 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Higher
