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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold-Seeker.com


-- Posted Tuesday, 8 October 2013 | | Disqus

 

Close

Gain/Loss

Gold

$1319.40

-$3.00

Silver

$22.30

-$0.03

XAU

88.93

-3.11%

HUI

219.27

-2.97%

GDM

656.55

-2.98%

JSE Gold

1186.05

-5.28

USD

80.02

+0.08

Euro

135.72

-0.07

Yen

103.20

-0.15

Oil

$103.49

+$0.46

10-Year

2.636%

+0.002

T-Bond

133.375

UNCH

Dow

14776.53

-1.07%

Nasdaq

3694.83

-2.00%

S&P

1655.45

-1.23%

 
 

 

The Metals:

 

Gold saw a slight gain at $1327.06 in Asia before it fell back to $1315.94 in London and then climbed to as high as $1329.80 by midmorning in New York, but it then fell back off in the last 6 hours of trade and ended with a loss of 0.23%.  Silver slipped to $22.11 before it rebounded to $22.476 and then also fell back off in late trade, but it ended with a loss of just 0.13%.

 

Euro gold fell to about €972, platinum rose $1.50 to $1401.00, and copper fell slightly to about $3.29.

 

Gold and silver equities fell throughout most of trade and ended with about 3% losses.

 

The Economy:

 

No global leadership as economy slides toward edge MarketWatch

Spending could drop by $175 billion in a month if debt ceiling not lifted MarketWatch

What default? Republicans downplay impact of U.S. debt limit Reuters

Big creditors China, Japan press U.S. to resolve debt row Reuters

IMF cuts global growth forecast, warns of prolonged stupor Reuters

Small-Business Optimism in U.S. Declines to Three-Month Low Bloomberg

Biggest US Foreign Creditors Show Concern on Default Risk Bloomberg

Shutdown Merges With Debt Debate as Senate Seeks Strategy Bloomberg

 

There were no major economic reports released today due to the government shutdown.  Tomorrow may bring Wholesale Inventories and FOMC Minutes.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil edged higher along with the U.S. dollar index and treasuries waffled near unchanged on hopes that Congress will solve its budget and debt problems.

 

The Dow, Nasdaq, and S&P fell on disappointing company reports.

 

Among the big names making news in the market today were Facebook, Xerox, Alcatel-Lucent, Morgan Stanley, Yahoo, Tower, J.C. Penney, and Amazon.

 

GATA Posts:

 

 

Comex and LBMA require market's ignorance, Tocqueville's Hathaway writes

 

The Statistics:

As of close of business: 10/07/2013

Gold Warehouse Stocks:

6,888,160.019

+6,637.146

Silver Warehouse Stocks:

166,263,523.005

-155,480.534

 

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

899.985

28,935,420

US$38,451m

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$5,883m

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$475m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.55

1,335,829

US$

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 176.83: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,565.19: -59.95 change from yesterday’s data.

 

The Miners:

 

Seabridge Gold-s (SA) drill results, Brigus Gold’s (BRD) third quarter production, and Great Panther’s (GPL) Environmental Impact Permit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Seabridge

SA +3.92% $10.08

2.  Eurasian

EMXX +1.64% $1.24

 

LOSERS

1.  Allied Nevada

ANV -8.87% $4.42

2.  Rubicon

RBY -6.25% $1.20

3.  Endeavour Silver

EXK -5.87% $4.01

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2013

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


-- Posted Tuesday, 8 October 2013 | Digg This Article | Source: GoldSeek.com

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