-- Posted Monday, 4 November 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1314.20 | -$0.60 |
Silver | $21.62 | -$0.22 |
XAU | 94.34 | +2.50% |
HUI | 233.68 | +2.90% |
GDM | 683.09 | +2.63% |
JSE Gold | 1297.98 | -11.50 |
USD | 80.55 | -0.18 |
Euro | 135.19 | +0.34 |
Yen | 101.39 | UNCH |
Oil | $94.62 | +$0.01 |
10-Year | 2.602% | -0.018 |
T-Bond | 133.90625 | +0.15625 |
Dow | 15639.12 | +0.15% |
Nasdaq | 3936.59 | +0.37% |
S&P | 1767.93 | +0.36% |
The Metals:
Gold edged down to $1311.06 in Asia before it popped up to $1322.44 at about 8AM EST and then drifted back lower for most of trade in New York, but it ended with a loss of just 0.05%. Silver slipped to $21.593 before it climbed back to $21.922, but it then fell back off into the close and ended with a loss of 1.01%.
Euro gold fell to about €972, platinum lost $4.85 to $1447.65, and copper fell a few cents to about $3.26.
Gold and silver equities rose over 2% about a half hour into trade before they pared back in the next hour, but they then climbed to new session highs in the final hour of trade and ended with almost 3% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Factory Orders | Aug | -0.1% | 0.3% | -2.4% |
Factory Orders | Sep | 1.7% | 1.8% | -0.1% |
Fed's Bullard: no hurry to taper because of low inflation Reuters
Tomorrow at 10AM EST brings the ISM Services report for October expected at 54.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended barely higher in mixed trade.
The U.S. dollar index fell as the euro rose on decent manufacturing data in the euro zone, but moves were limited ahead of this Thursday’s ECB meeting.
Treasuries saw slight gains on dovish fed speak while the Dow, Nasdaq, and S&P waffled near unchanged ahead of this week’s GDP and jobs data on Thursday and Friday.
Among the big names making news in the market today were Tri Pointe, Kellogg, Twitter, and Blackberry.
The Commentary:
“The following story ( click to read the article) caught my eye this morning for reasons that many in the gold community will easily understand. Ask most of those who believe that the feds closely monitor the price of gold and work to tame any price rallies when the metal is in a bullish uptrend, just who are the agents employed to actively short the metal at the Comex and you will always get two names, Goldman Sachs and JP Morgan.
I find the following article both interesting and revealing therefore as it introduces something which I have not heard from any who adhere to this view - namely an apparent falling out between the political authorities and the latter of these two banks, J P Morgan.
I also find it interesting, and have remarked about this many times of late, that the largest stopper of gold during the Comex delivery process in recent times has been JP Morgan for their HOUSE account. In other words, they are LONG gold at the Comex in order to take delivery of the physical metal ( I explained this when I was attempting to debunk the silly notion of bullion bank caused "FLASH CRASHES" that is currently circulating through the halls of the gold community edifice.
It sure does make one wonder does it not what is going on behind the scenes when Morgan is being targeted by federal power? Have the feds lost one of their purported allies in the gold suppression scheme?
Either way it is very interesting reading and certainly lays bare the methodology employed by the current administration which uses tactics of intimidation against all those who dare defy it.
You know that this is brazenly arrogant when even Barney Frank seems to be taken aback by this concerted federal effort being used to harass J P Morgan.
Those of you who have been reading my comments for many years know full well that there is no love lost between myself and either of these two megabanks. I have seen enough of their antics in the commodity markets over the years to have lost any sympathy for what might happen to either or both of them. Still there is something very unseemly in this episode which smacks more of a government shakedown rather than a pursuit of unbiased justice and fair play.
http://dailycaller.com/2013/11/01/are-the-feds-targeting-jpmorgan-for-criticizing-obama/”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Probes into forex trading spread across globe
The Statistics:
As of close of business: 11/1/2013
Gold Warehouse Stocks: | 7,155,334.381 | +1,607.50 |
Silver Warehouse Stocks: | 169,370,400.566 | -155,292.91 |
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 | 866.317 | 27,852,950 | US$36,764m |
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$5,852m |
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$473m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 41.55 | 1,335,829 | US$1,767m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.703 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 171.58: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,502.23: No change from yesterday’s data.
The Miners:
Goldcorp’s (GG) dividend, Golden Star’s (GSS) third quarter results, Arian Silver’s (AGQ.V) refurbishment program, Aurcana’s (AUN.V) General Manager appointment, and Avino’s (ASM) assay results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. AuRico | AUQ +5.94% $4.28 |
2. Nevsun | NSU +5.65% $3.74 |
3. Newmont | NEM +5.20% $27.33 |
LOSERS
1. Tanzanian Royalty | TRX -7.42% $2.12 |
2. Paramount | PZG -3.25% $1.19 |
3. Avino | ASM -2.50% $1.17 |
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
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-- Posted Monday, 4 November 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall But Miners Gain Nearly 3%
