-- Posted Thursday, 18 April 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1388.00 | +$14.80 |
Silver | $23.17 | -$0.06 |
XAU | 101.71 | +2.90% |
HUI | 264.28 | +2.75% |
GDM | 781.56 | +2.97% |
JSE Gold | 1438.14 | -46.83 |
USD | 82.57 | -0.08 |
Euro | 130.53 | +0.22 |
Yen | 101.82 | -0.04 |
Oil | $87.73 | +$1.05 |
10-Year | 1.685% | -0.019 |
T-Bond | 148.3125 | +0.34375 |
Dow | 14537.14 | -0.56% |
Nasdaq | 3166.36 | -1.20% |
S&P | 1541.61 | -0.67% |
The Metals:
Gold fell $35.17 to $1338.03 in early Asian trade before it rallied back to as high as $1401.90 at about 8:30AM EST and then fell back off a bit in New York, but it still ended with a gain of 1.08%. Silver fell to $22.448 in Asia before it rallied back to as high as $23.657 in early New York trade, but it then fell back off in the next hour and a half of trade and ended with a loss of 0.26%.
Euro gold climbed to about €1063, platinum lost $0.20 to $1423.50, and copper climbed a couple of cents to about $3.20.
Gold and silver equities rose over 4% by midafternoon before they fell back off into the close, but they still ended with almost 3% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 4/13 | 352K | 355K | 348K |
Philadelphia Fed | Apr | 1.3 | 2.5 | 2.0 |
Leading Indicators | Mar | -0.1% | 0.0% | 0.5% |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rebounded from its recent six session losing streak.
The U.S. dollar index traded mostly slightly lower on poor economic data.
Treasuries rose as the Dow, Nasdaq, and S&P fell on more poor earnings reports.
Among the big names making news in the market today were EBay, UnitedHealth, Blackstone, Morgan Stanley, and Barclays.
The Commentary:
“Dear CIGAs,
There is no question except in the mind of the deranged bashers that the physical demand for gold threatened the fractional gold system to which a Fed sponsored raid took place. What they are missing is that it is not price that threatens the fractional gold system but rather demand at any price. It does not matter if the demand for physical is at $1350 or $3500, it upsets the system.
What will happen now as gold bottoms due to Chinese and Russian physical demand, most likely at $1350? The gold price goes into recovery, margins rise on the futures market and we go directly back in the total inability to deliver, once more threatening the system. Physical gold premiums will continue to rise above even the physical market for gold.
The damage done by the gold banks in time will be seen to be damage to themselves and not to gold.
People are sick of being fed fraud every day. There is a revolution coming in money only accelerated by the recent illegal market activity hiding in plain sight. The assumption that the entire world is as dumb as the sheeple of the West will be proven to be what it is – absurd.
This call to action made by Trader Dan, I believe four years ago, is the ultimate answer to the manipulators of gold from the floors of the exchanges to the halls of monetary ivy.
Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. "Stand and Deliver or Go Home" should be the rallying cry of the gold longs to the paper gold shorts.
–Trader Dan Norcini
The FreeGold camp has it nailed when they say the trend is away from paper gold to physical. Once gold is free of paper then its price will exceed all expectations in cash physical. On this point they will get no argument from me and I believe even Trader Dan will agree.
Respectfully,”- Jim Sinclair, JSMineset.com
GATA Posts:
Gold plunge was 'orchestrated,' likely by Fed, Brimelow says
Jeff Nielson: Paper gold holders flee to real metal
'Secret World of Gold' celebrates metals market rig whistleblower Maguire
The Statistics:
As of close of business: 4/17/2013
Gold Warehouse Stocks: | 8,950,397.437 | -65,716.191 |
Silver Warehouse Stocks: | 165,354,438.799 | -78,143.22 |
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 | 1134.791 | 36,484,650 | US$50,833m |
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$6,174m |
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$498m |
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 11.13 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.47: -4.54 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,451.01: No change from yesterday’s data.
The Miners:
Freeport’s (FCX) first quarter results, Timberline’s (TLR) permit, Buenaventura’s (BVN) strike, Newmont’s (NEM) preliminary first quarter attributable gold and copper production, Santacruz Silver’s (SCZ.V) commercial production, and Kimber’s (KBX) board changes were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Sandstorm | SAND +10.73% $7.02 |
2. Fortuna | FSM +9.20% $2.85 |
3. Gold Resource | GORO +9.12% $9.45 |
LOSERS
1. Solitario | XPL -7.10% $1.07 |
2. Alexco | AXU -2.33% $2.10 |
3. Eurasian | EMXX -2.14% $1.37 |
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 Thursday, 18 April 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains While Silver Slips
