-- Posted Wednesday, 9 October 2013 | | Disqus
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.
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.
Charts Courtesy of http://finance.yahoo.com/
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.
TF Metals Report: Goldman buys gold after panicking speculators to sell
Starved of gold, Indians may import record volumes of silver
As of close of business: 10/08/2013
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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.
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
AU +2.60% $13.01
3. Gold Resource
GORO +2.38% $5.59
PVG -30.58% $4.70
TGD -6.92% $1.48
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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-- Posted Wednesday, 9 October 2013 | Digg This Article | Source: GoldSeek.com