-- Posted Wednesday, 10 April 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1558.50 | -$26.20 |
Silver | $27.60 | -$0.36 |
XAU | 125.26 | -3.42% |
HUI | 325.32 | -3.84% |
GDM | 961.59 | -3.69% |
JSE Gold | 1740.67 | -32.08 |
USD | 82.49 | +0.14 |
Euro | 130.66 | -0.16 |
Yen | 100.20 | -0.78 |
Oil | $94.64 | +$0.44 |
10-Year | 1.805% | +0.058 |
T-Bond | 145.90625 | -1.09375 |
Dow | 14802.24 | +0.88% |
Nasdaq | 3297.25 | +1.83% |
S&P | 1587.73 | +1.22% |
The Metals:
Gold edged up to $1588.47 in Asia, but it then fell to as low as $1557.00 in New York and ended with a loss of 1.65%. Silver slumped to as low as $27.508 and ended with a loss of 1.29%.
Euro gold fell to about €1193, platinum lost $23.25 to $1523.75, and copper fell a couple of cents to about $3.42.
Gold and silver equities fell over 3% by midday and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Treasury Budget | Mar | -$106.5B | -$107.0B | -$198.2B |
Refinance demand drives U.S. mortgage applications higher -MBA Reuters
Obama budget targets millionaires, replaces sequester cuts Reuters
Minutes from the fed’s March 20th meeting were released early today at 9AM EST due to an inadvertent early release to Congressional staffers yesterday afternoon. The minutes showed that members “thought that if the outlook for labor market conditions improved as anticipated, it would probably be appropriate to slow purchases later in the year and to stop them by year-end.” … “Two members indicated that purchases might well continue at the current pace at least through the end of the year. It was also noted that were the outlook to deteriorate, the pace of purchases could be increased.”
Tomorrow at 8:30AM EST brings Import and Export Prices for March and Initial Jobless Claims for 4/06 expected at 365,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil reversed early losses after the Energy Information Administration reported that crude inventories rose 300,000 barrels, gasoline inventories rose 1.7 million barrels, and distillates fell 200,000 barrels.
The U.S. dollar index rose and treasuries fell on the fed’s talk about possibly slowing bond purchases later this year. Today’s $21 billion 10-year note auction sold at a yield of 1.795% with a bid to cover of 2.79.
“U.S. stocks rose, sending the Standard & Poor’s 500 Index to an intraday record, as China’s imports grew, Japan reiterated its stimulus plans and investors speculated earnings will beat estimates.”
Among the big names making news in the market today were Taylor Morrison, Facebook, Macy’s, UnitedHealth, and KPMG.
GATA Posts:
Canadian Broadcasting Corp. to air 'The Secret World of Gold'
Goldman's gold short call mocked by GGR's Arensberg
The Statistics:
As of close of business: 4/9/2013
Gold Warehouse Stocks: | 9,241,476.618 | +96.45 |
Silver Warehouse Stocks: | 163,092,793.679 | -1,132,614.795 |
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 | 1200.375 | 38,593,256 | US$60,772m |
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$6,973m |
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$563m |
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 subtracted 4.938 tonnes.
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:
Barrick’s (ABX) suspended project, Timmins Gold’s (TGD) first quarter production, Banro’s (BAA) production update, and Orko’s Approve Arrangement with Coeur (CDE) were among the big stories in the gold and silver mining industry making headlines today.
WINNER
1. Revett | RVM +2.19% $1.87 |
LOSERS
1. Barrick | ABX -8.36% $24.46 |
2. Allied Nevada | ANV -7.75% $14.16 |
3. NovaGold | NG -7.19% $3.10 |
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 Wednesday, 10 April 2013 | Digg This Article | Source: GoldSeek.com