-- Posted Wednesday, 17 July 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1275.70 | -$16.70 |
Silver | $19.32 | -$0.70 |
XAU | 91.49 | -2.66% |
HUI | 230.18 | -2.85% |
GDM | 686.53 | -2.85% |
JSE Gold | 1196.40 | +19.14 |
USD | 82.64 | +0.19 |
Euro | 131.26 | -0.33 |
Yen | 100.46 | -0.42 |
Oil | $106.48 | +$0.48 |
10-Year | 2.491% | -0.041 |
T-Bond | 135.34375 | +0.375 |
Dow | 15470.52 | +0.12% |
Nasdaq | 3610.00 | +0.32% |
S&P | 1680.91 | +0.28% |
The Metals:
Gold fell $9.05 to $1283.35 at about 8:30AM EST before it shot up to $1299.60 in the next couple of hours of trade, but it then plummeted back to as low as $1270.41 in the next hour and a half of trade and the yellow metal ended with a loss of 1.29%. Silver slumped to as low as $19.27 and ended with a loss of 3.5%.
Euro gold fell to about €972, platinum lost $16 to $1404, and copper fell five cents to about $3.13.
Gold and silver equities fell almost 3% by midday before they bounced back higher at times, but they still ended with over 2.5% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Housing Starts | June | 836K | 958K | 928K |
Building Permits | June | 911K | 1000K | 985K |
“The U.S. economy maintained a “modest to moderate pace” of growth in recent weeks, bolstered by industries ranging from housing to manufacturing, the Federal Reserve said today.”
U.S. mortgage applications fall on soft refinancing demand: MBA Reuters
Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading economic Indicators. Bernanke also testifies before the Senate Banking committee.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose after the Energy Information Administration reported that crude inventories fell 6.9 million barrels, gasoline inventories rose 3.1 million barrels, and distillates rose 3.9 million barrels.
The U.S. dollar index chopped modestly higher as Bernanke spoke before the House Financial Services committee.
Treasuries rose slightly along with the Dow, Nasdaq, and S&P on relatively tame testimony from Bernanke before the House Financial Services committee this morning.
Among the big names making news in the market today were Barclays, BofA, Ford, BNY Mellon, and Dell.
GATA Posts:
Transcript of Lars Schall's interview with Pacific Alliance Group's William Kaye
The gold leasing racket; why deficits and gold matter; and inside China's gold market
Hong Kong fund manager identifies refinery recasting central bank gold
The Statistics:
As of close of business: 7/16/2013
Gold Warehouse Stocks: | 7,111,823.701 | - |
Silver Warehouse Stocks: | 167,023,752.669 | -15,229.77 |
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 | 937.572 | 30,143,885 | US$39,094m |
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$5,656m |
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$458m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.54 | 1,367,773 | US$1,766m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.503 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.00: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,209.00: +24.00 change from yesterday’s data.
The Miners:
SilverCrest’s (SVL.V) second quarter production, McEwen’s (MUX) resource update, B2Gold’s (BTG) drill results, and Alexco’s (AXU) second quarter production and plans to suspend production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rio Alto | RIOM +1.89% $2.16 |
2. Gold Resource | GORO +1.34% $7.59 |
3. Comstock | LODE +1.04% $1.94 |
LOSERS
1. Timmins | TGD -7.85% $2.23 |
2. Pretivm | PVG -7.26% $7.41 |
3. B2Gold | BTG -6.82% $2.46 |
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, 17 July 2013 | Digg This Article | Source: GoldSeek.com