-- Posted Tuesday, 9 April 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1584.70 | +$12.20 |
Silver | $27.96 | +$0.73 |
XAU | 129.69 | +4.01% |
HUI | 338.33 | +4.36% |
GDM | 998.38 | +3.89% |
JSE Gold | 1772.75 | +62.76 |
USD | 82.35 | -0.41 |
Euro | 130.87 | +0.70 |
Yen | 101.01 | +0.39 |
Oil | $94.20 | +$0.84 |
10-Year | 1.747% | +0.015 |
T-Bond | 146.9375 | -0.375 |
Dow | 14673.46 | +0.41% |
Nasdaq | 3237.86 | +0.48% |
S&P | 1568.61 | +0.35% |
The Metals:
Gold edged up to $1577.20 in Asia before it fell back to $1570.60 by a little before 8AM EST, but it then soared to as high as $1590.34 in the next four hours of trade and ended with a gain of 0.78%. Silver surged to as high as $28.067 and ended with a gain of 2.68%.
Euro gold climbed about €1211, platinum gained $13.50 to $1547, and copper climbed 7 cents to about $3.44.
Gold and silver equities rose about 4% by midday and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Wholesale Inventories | Feb | -0.3% | 0.5% | 0.8% |
Tomorrow at 2PM EST brings FOMC Minutes and the Treasury Budget for March expected at -$107.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose and the U.S. dollar index fell on tame inflation data in China and worries about an earthquake in Iran.
Treasuries fell as the Dow, Nasdaq, and S&P climbed higher on optimism about earnings reports.
Among the big names making news in the market today were KPMG, Herbalife, Skechers, Oshkosh, and J.C. Penney.
The Commentary:
“The mystery, at least in my mind, of the rising Euro is now clear. Outflows of Japanese institutional money is pouring into the European bond markets in search of higher yield.
Consider the following - the yield on a 10 year Japanese government bond has fallen to 0.525%. Yes, that is not a typographical error. If you buy one of those things, you are locking money up in an IOU for TEN YEARS to obtain a half a percentage point of interest. If that is not bad enough, the underlying currency is also freefalling in value. Now, who in the world would want to do that besides the monetary authorities in Japan who are becoming and likely are going to end up staying that way, as the largest, if not sole buyer of Japanese government debt?
Believe it or not, with all the massive problems in Spain and Italy, the yield on the Spanish 10 year bond has now fallen to its LOWEST level in a year. Italian bond yields are down to 4.36%! Dow Jones is reporting that last Friday and this Monday, the yield on the 10 year notes of France, the Netherlands, Austria and Belgium hit RECORD LOWS! This is Japanese money fleeing into European bonds.
Now here is what is even more mind boggling - the Bank of Japan's own data shows that Japanese institutions hold a gargantuan $6.34 TRILLION of domestic government bonds! This is not a tide of money, it is a tsunami looking for yield!
Bubble in the US stock market? Yes, in my opinion but the bubble is going to get even bigger. Heaven help everyone of us on the planet when this man-made disaster finally reaches its crescendo!
UNLEASH THE KRAKEN.... here it comes..... where is Perseus going to come from?”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Tekoa da Silva: Comex gold inventories collapsing
CFTC looks into possible price manipulation of interest-rate swaps
With counterintuitive action gold price suppression gets more obvious every day
The Statistics:
As of close of business: 4/8/2013
Gold Warehouse Stocks: | 9,241,380.168 | -32,004.742 |
Silver Warehouse Stocks: | 164,225,408.474 | -978,339.568 |
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 | 1205.313 | 38,752,009 | US$61,088m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$7,063m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$8,004m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$569m |
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: 210.21: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,497.59: No change from yesterday’s data.
The Miners:
Gold Fields’ (GFI) resolved strikes, Sandstorm’s (SAND) update to its Proven and Probable Mineral Reserve estimate, Agnico-Eagle’s (AEM) investment in Sulliden Gold, Nevsun’s (NSU) first quarter operating results, Allied Nevada’s (ANV) preliminary first quarter 2013 operational results, Hecla’s (HL) priced notes, and First Majestic’s (AG) commercial production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Allied Nevada | ANV +30.20% $15.35 |
2. Endeavour | EXK +8.12% $6.26 |
3. Pretivm | PVG +7.85% $7.14 |
LOSERS
1. Northern Dynasty | NAK -2.75% $2.83 |
2. Banro | BAA -2.00% $1.47 |
3. Solitario | XPL -0.66% $1.51 |
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 Tuesday, 9 April 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains and Silver Surges
