-- Posted Wednesday, 10 July 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1251.10 | +$2.70 |
Silver | $19.15 | -$0.07 |
XAU | 85.70 | -0.33% |
HUI | 213.85 | -0.12% |
GDM | 639.23 | -0.27% |
JSE Gold | 1177.11 | +9.03 |
USD | 84.05 | -0.55 |
Euro | 128.88 | +1.02 |
Yen | 99.88 | +0.99 |
Oil | $106.52 | +$2.99 |
10-Year | 2.680% | +0.050 |
T-Bond | 132.84375 | -0.625 |
Dow | 15291.66 | -0.06% |
Nasdaq | 3520.75 | +0.47% |
S&P | 1652.62 | +0.02% |
The Metals:
Gold climbed $13.05 to $1261.45 in late morning New York trade before it fell back to $1247.80 in early afternoon trade and then rose to as high as $1265.30 following the release of today’s fed minutes, but it then fell back off again into the close and the yellow metal ended with a gain of just 0.22%. Silver slipped to as low as $19.087 and ended with a loss of 0.36%.
Euro gold fell to about €971, platinum rose $1.80 to $1362.50, and copper rose slightly to about $3.08.
Gold and silver equities waffled near unchanged for most of the morning before they fell to see over 1% losses in early afternoon trade and then jumped higher following the release of today’s fed minutes, but they then fell back off into the close and the miners ended with modest losses on the day.
The Economy:
Report | For | Reading | Expected | Previous |
Wholesale Inventories | May | -0.5% | 0.3% | -0.1% |
“Many Federal Reserve officials want to see more signs employment is picking up before they’ll begin slowing the pace of $85 billion in monthly bond purchases, according to minutes of policy makers’ last meeting.
“Many members indicated that further improvement in the outlook for the labor market would be required before it would be appropriate to slow the pace of asset purchases,” according to the record of the Federal Open Market Committee’s June 18-19 gathering released today in Washington.”
Tomorrow brings Export and Import Prices for June, Initial Jobless Claims for 7/06, and the Treasury Budget for June.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil continued higher after the Energy Information Administration reported that crude inventories fell 9.9 million barrels, gasoline inventories fell 2.6 million barrels, and distillates rose 3.0 million barrels.
The U.S. dollar index fell on poor economic data and dovish fed minutes.
Treasuries fell after today’s $21 billion 10-year note auction sold at a yield of 2.67% with a bid to cover of 2.57.
The Dow, Nasdaq, and S&P waffled near unchanged on mixed earnings reports and differing views about today’s fed minutes.
Among the big names making news in the market today were Tribune, Apple, Wal-Mart, Gap, and Walgreen.
GATA Posts:
Financial Times promises that leased gold shortage means nothing
The Statistics:
As of close of business: 7/09/2013
Gold Warehouse Stocks: | 7,095,952.979 | -106,535.061 |
Silver Warehouse Stocks: | 165,111,244.607 | -446,507.52 |
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) AND Mexico Stock Exchange (BMV) | SPDR® Gold Shares | 939.747 | 30,213,794 | US$37,926m |
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$5,583m |
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$450m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.43 | 1,364,015 | US$1,713m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 7.213 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.45: -0.60 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,034.95: No change from yesterday’s data.
The Miners:
Aurcana’s (AUN.V) corporate update, Endeavour Silver’s (EXK) second quarter production, First Majestic’s (AG) second quarter production, Randgold’s (GOLD) stakeholder partnerships, and Banro’s (BAA) second quarter production update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Alexco | AXU +6.19% $1.20 |
2. Comstock | LODE +5.92% $1.79 |
3. Tanzanian Royalty | TRX +4.51% $2.78 |
LOSERS
1. NovaGold | NG -4.52% $1.90 |
2. Turquoise Hill | TRQ -3.36% $5.76 |
3. Gold Resource | GORO-2.84% $8.20 |
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 July 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Mixed
