-- Posted Monday, 29 July 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1329.40 | -$3.60 |
Silver | $19.84 | -$0.19 |
XAU | 100.01 | -0.85% |
HUI | 253.14 | -1.02% |
GDM | 754.35 | -0.80% |
JSE Gold | 1291.65 | +39.13 |
USD | 81.66 | -0.01 |
Euro | 132.65 | -0.13 |
Yen | 102.20 | +0.43 |
Oil | $104.55 | -$0.15 |
10-Year | 2.585% | +0.024 |
T-Bond | 134.125 | -0.59375 |
Dow | 15521.97 | -0.24% |
Nasdaq | 3599.14 | -0.39% |
S&P | 1685.33 | -0.37% |
The Metals:
Gold fell $10.13 to $1322.87 in Asia before it climbed to as high as $1337.74 in London, but it then chopped back lower in New York and ended with a loss of 0.27%. Silver slipped to $19.69 before it rose to as high as $20.204, but it also fell back off in New York and ended with a loss of 0.45%.
Euro gold fell to about €1002, platinum rose $13.75 to $1438.50, and copper remained at about $3.11.
Gold and silver equities fell over 1% in the first hour of trade before they battled back to see slight gains at times, but they then fell off rather dramatically in the last minutes of trade and ended near their lows of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Pending Home Sales | June | -0.4% | -1.7% | 5.8% |
Tomorrow brings the Case-Shiller 20-city Index and Consumer Confidence.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly lower in mixed trade on battling worries about China and the Middle East.
The U.S. dollar index ended near unchanged in mixed trade ahead of this week’s fed meeting.
Treasuries fell on speculation the fed may talk about tapering its bond buying program sometime this year.
The Dow, Nasdaq, and S&P fell on wariness about Wednesday’s fed statement.
Among the big names making news in the market today were Publicis, Omnicom, Perrigo, Elan, Teva, and Amazon.
The Commentary:
“Critical period for gold. The $1,350 area (Point A) was once key support and now is key resistance (Plus 50-Day M.A in that area-point B). Two closes above it and we can say the market has indeed turned- but not before!
Friday’s monthly employment # almost always has a gold bomb around it so it’s a big week for gold to do more than just hold its own. The Crimenex is once again trying to take back the gains made after its close late Friday.”- Peter Grandich, Grandich Letter
GATA Posts:
James Turk: Gold backwardation explained
Andrew Maguire: Gold backwardation is extreme, hinting paper market collapse
Paul Mylchreest: Fractional reserve gold banking system may be breaking down
Ted Butler: Market dominance
The Statistics:
As of close of business: 7/26/2013
Gold Warehouse Stocks: | 6,988,830.011 | +32,090.242 |
Silver Warehouse Stocks: | 163,811,553.516 | +554,883.858 |
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 | 927.355 | 29,815,390 | US$39,631m |
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$5,919m |
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$477m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.66 | 1,371,516 | US$1,831m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 178.85: +0.01 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,419.04: +9.00 change from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) mineral resource estimate, Turquoise Hill’s (TRQ) financing approval update, Randgold’s (GOLD) work in Cote d'Ivoire, Coeur’s (CDE) safety award, and Avino’s (ASM) safety award were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Eurasian | EMXX +5.00% $1.47 |
2. Endeavour Silver | EXK +3.76% $4.14 |
3. Banro | BAA +2.94% $1.05 |
LOSERS
1. Turquoise | TRQ -19.74% $4.27 |
2. Paramount | PZG -5.41% $1.40 |
3. Golden Minerals | AUMN-4.76% $1.40 |
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 Monday, 29 July 2013 | Digg This Article | Source: GoldSeek.com