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Gold Seeker Closing Report: Gold and Silver Fall About 1% and 2%
By: Chris Mullen,

-- Posted Wednesday, 9 October 2013 | | Disqus



















JSE Gold
































The Metals:


Gold fell $24.16 to $1295.24 by a little after 10AM EST before it bounced back to $1313.64 in the next four hours of trade, but it then edged back lower in the last two hours of the day and ended with a loss of 0.99%.  Silver slumped to as low as $21.755 and ended with a loss of 2.02%.


Euro gold fell to about €966, platinum lost $24.50 to $1376.50, and copper dropped 6 cents to about $3.23.


Gold and silver equities fell over 2.5% in the first half hour of trade, but they then rallied back to see slight gains by midafternoon and ended near unchanged.


The Economy:


Yellen to Be Named Fed Chairman, First Female Chief Bloomberg

Members of Congress see signs of hope in fiscal impasse Reuters

U.S. mortgage applications edge up on more refinancing-MBA Reuters


Today’s Wholesale Inventories report was not released due to the government shutdown.  FOMC Minutes from the fed’s September 18th meeting showed that most fed members thought that the fed will still taper its bond purchases sometime this year.


Minutes show Fed still sees taper this year MarketWatch

Most Fed Policy Makers Saw QE Tapering This Year, Minutes Show Bloomberg


Tomorrow may bring Initial Jobless Claims, Export and Import Prices, and the Treasury Budget.


The Markets:


Charts Courtesy of


Oil fell after the Energy Information Administration reported that crude inventories rose 6.8 million barrels, gasoline inventories rose 100,000 barrels, and distillates fell 3.1 million barrels.


The U.S. dollar index rose after a White House official said Obama will nominate Janet Yellen to head the fed.


Treasuries remained lower after today’s $21 billion 10-year note auction sold at a yield of 2.657% with a bid to cover of 2.58.


The Dow, Nasdaq, and S&P waffled near unchanged and ended mixed.


Among the big names making news in the market today were Microsoft, GM, Toyota, and Men’s Wearhouse.


GATA Posts:



TF Metals Report: Goldman buys gold after panicking speculators to sell

Starved of gold, Indians may import record volumes of silver


The Statistics:

As of close of business: 10/08/2013

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.801 tonnes.


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: No change from yesterday’s data.


The Miners:


Newcrest’s (NCM.AX) board changes, Lake Shore’s (LSG) third quarter operating results, Pretivm’s (PVG) bulk sample update, Endeavour Silver’s (EXK) third quarter production, and Santacruz Silver’s (SCZ.V) drill results were among the big stories in the gold and silver mining industry making headlines today.




DRD +4.11% $5.57

2.  AngloGold

AU +2.60% $13.01

3.  Gold Resource

GORO +2.38% $5.59



1.  Pretivm

PVG -30.58% $4.70

2.  Timmins

TGD -6.92% $1.48

3.  NovaGold

NG -6.67% $2.10

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

Note: This article may be reproduced provided the article, in full, is used and mention to 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. 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’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 Wednesday, 9 October 2013 | Digg This Article | Source:

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