-- Posted Wednesday, 23 January 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1685.60 | -$4.90 |
Silver | $32.25 | +$0.08 |
XAU | 159.82 | -2.64% |
HUI | 423.42 | -2.87% |
GDM | 1240.07 | -2.64% |
JSE Gold | 2304.15 | +33.51 |
USD | 79.92 | +0.03 |
Euro | 133.20 | -0.02 |
Yen | 112.77 | +0.05 |
Oil | $95.23 | -$1.45 |
10-Year | 1.833% | -0.002 |
T-Bond | 145.96875 | -0.0625 |
Dow | 13779.17 | +0.49% |
Nasdaq | 3153.67 | +0.33% |
S&P | 1494.78 | +0.15% |
The Metals:
Gold climbed up to $1695.00 at about 8:40AM EST before it fell back to $1683.91 in the next couple of hours of trade, but it then bounced back higher midday and ended with a loss of just 0.29%. Silver fell to $32.081 in Asia before it rallied to as high as $32.459 in early afternoon New York trade, but it then fell back off in the last few hours of trade and ended with a gain of just 0.25%.
Euro gold fell to about €1266, platinum lost $9.50 to $1684, and copper fell a few cents to about $3.67.
Gold and silver equities fell throughout most of trade and ended with over 2.5% losses.
The Economy:
Report | For | Reading | Expected | Previous |
FHFA Housing Price Index | Nov | 0.6% | - | 0.6% |
Mortgage applications up for 3rd week despite rate rise -MBA Reuters
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/19 expected at 355,000 and at 10AM is the Leading Economic Indicators report for December expected at 0.5%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index found slight gains after the House voted to temporarily suspend the federal debt limit.
Treasuries fell as the Dow, Nasdaq, and S&P found modest gains on decent earnings reports.
Among the big names making news in the market today were WellPoint, Abbott, Motorola, JPMorgan, Unilever, McDonald’s, United Technologies, and Google.
The Commentary:
“Gold seems to have run into extremely HEAVY selling pressure at the 50 day moving average, which incidentally, just so happens to be coming in just below the $1700 level. It appears a concerted effort is being made to prevent gold from acquiring a "17" HANDLE, which is what the momentum based buyers are waiting for.
If you look at the chart closely, you can see the defensive fortification being erected by the bears. So far the market refuses to break down but it is stalling out a bit here and will need to quickly push past $1700 soon or we will see some short-term oriented day trader types start looking for the exits.
Notice that I am including the RSI indicator merely to show that it too is stuck below the 60 level, indicating the continuation of a consolidative (sideways) type of trading pattern in the metal. Until we get a clean break of 60 on this indicator, and preferably a run past 65, the pattern is sideways within a defined range of $1695 - $1700 on the top and $1665 or so on the bottom.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Jay Taylor interviews GATA secretary as Vancouver conference concludes
Standard Bank says physical gold purchases unusually high
Bundesbank chief warns that central banks are being pushed into currency war
Bundesbank's gold repatriation is 'world historical,' Rickards says
The Statistics:
As of close of business: 1/22/2013
Gold Warehouse Stocks: | 10,948,808.836 | +10,030.80 |
Silver Warehouse Stocks: | 150,047,483.025 | -925,642.35 |
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 | 1335.922 | 42,951,213 | US$72,587m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 137.78 | 4,429,893 | US$7,496m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 157.53 | 5,064,747 | US$8,259m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$607m |
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 3.313 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 219.58: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,689.86: -45.13 change from yesterday’s data.
The Miners:
Nevsun’s (NSU) 2013 outlook, Aurizon’s (AZK) recommended rejection of Alamos Gold’s offer, Newmont’s (NEM) 2012 highlights and 2013 outlook, IAMGOLD’s (IAG) mineral resource update, production results for 2012, and guidance for 2013, and Hochschild's (HOC: LSE) 2012 production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Comstock | LODE +3.72% $1.95 |
2. Nevsun | NSU +1.81% $4.49 |
3. Rubicon | RBY +1.56% $2.61 |
LOSERS
1. IAMGOLD | IAG -15.09% $9.23 |
2. ITH | THM -5.86% $2.25 |
3. Alexco | AXU -5.37% $4.23 |
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 2013
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-- Posted Wednesday, 23 January 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Near Unchanged
