-- Posted Thursday, 14 November 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1287.70 | +$14.40 |
Silver | $20.81 | +$0.25 |
XAU | 93.72 | +2.47% |
HUI | 230.67 | +2.65% |
GDM | 674.44 | +2.55% |
JSE Gold | 1330.73 | +24.31 |
USD | 80.98 | +0.04 |
Euro | 134.63 | -0.25 |
Yen | 100.05 | -0.68 |
Oil | $93.76 | -$0.12 |
10-Year | 2.702% | -0.023 |
T-Bond | 132.65625 | +0.71875 |
Dow | 15876.22 | +0.35% |
Nasdaq | 3972.74 | +0.18% |
S&P | 1790.62 | +0.48% |
The Metals:
Gold climbed over 1% to $1287.84 in Asia before it fell back to $1278.40 in London, but it then rose to a new session high of $1294.07 in New York and ended with a gain of 1.13%. Silver surged to as high as $20.903 and ended with a gain of 1.22%.
Euro gold rose to almost €957, platinum gained $17 to $1444, and copper climbed slightly to about $3.17.
Gold and silver equities rose over 2% by midmorning and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 11/09 | 339K | 330K | 341K |
Productivity | Q3 | 1.9% | 2.0% | 1.8% |
Unit Labor Costs | Q3 | -0.6% | 0.8% | 0.5% |
Trade Balance | Sep | -$41.8B | -$39.1B | -$38.7B |
Yellen Says It’s Important Not to Remove Support Too Soon Bloomberg
Bernanke: Important to prevent inflation from falling too low Reuters
Average US Rate on 30-Year Mortgage at 4.35 Pct ABC News
Tomorrow brings Empire Manufacturing, Export and Import Prices, Industrial Production, Capacity Utilization, and Wholesale Inventories.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended slightly lower in mixed trade as the U.S. dollar index edged higher despite Yellen’s dovish commentary before the Senate Banking Committee.
Treasuries pared early gains after today’s $16 billion 30-year note auction sold at yield of 3.810% with a bid to cover of 2.16.
The Dow, Nasdaq, and S&P found modest gains by the close on decent earnings reports and reassurance from Yellen about the fed’s stimulus measures.
Among the big names making news in the market today were JPMorgan, Lockheed, Microsoft, Google, Tesla, Redfin, Wal-Mart, and JPMorgan.
The Commentary:
“It is almost comical watching stocks soaring into the stratosphere negating one negative technical warning after another and reaching levels that defy rational thinking, yet here we are.
The investing world has been perfectly conditioned by the Central Bankers to buy every single dip, throw caution to the wind, make the word "risk" archaic, and continue to shove stocks higher and higher and higher with no end in sight. It is absolutely astonishing to watch this thing unfold.
Apparently all that is needed to make the very concept of a bear market in stocks obsolete is for endless money printing. There appears to be no consequences whatsoever to this madness as it is now the new normal.
Maybe we will see 1800 in the S&P 500 before the month is out. Who knows? As a trader you have to go with the money flow and the chart but as an observer with a sense of history, you have to shake your head in both bewilderment and sadness. Bewilderment that so many otherwise intelligent individuals see nothing wrong with a near-permanent money creation scheme and sadness, that so many can be herded into something which has no rational basis other than the fact that it is going up.
I do need to make one quick comment - I have stated that the broad universe of investors see no inflation signs whatsoever. Yet, one thing should be very evident - the stock market is a perfect picture of near runaway inflation but in paper assets.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Bernanke congratulates himself for transparency while Fed hides gold records
JPMorgan reaps mostly mockery when it solicits questions on Twitter
World Gold Council just shrugs at India's financial repression
Hugo Salinas Price: The siren song of the welfare state
Sprott says central banks smashed gold in April to liquidate GLD's metal
Russell's Dow Theory Letter notes GATA's work in New Orleans
David Franklin: Vaults are booming -- in Asia
Russian legislative proposal would outlaw U.S. dollar
The Statistics:
As of close of business: 11/13/2013
Gold Warehouse Stocks: | 7,159,768.113 | -160.75 |
Silver Warehouse Stocks: | 168,568,769.688 | -300,212.339 |
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 | 865.713 | 27,833,533 | US$35,787m |
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$5,727m |
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$462m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 41.77 | 1,342,915 | US$1,756m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.705 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 172.21: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,443.82: No change from yesterday’s data.
The Miners:
Seabridge’s (SA) third quarter results, Almaden’s (AAU) drill results, Barrick’s (ABX) completed equity offering, Turquoise Hill’s (TRQ) project update and proposed rights offering, Nevsun’s (NSU) dividend, B2Gold’s (BTG) third quarter results, Pan American’s (PAAS) third quarter results, and SilverCrest’s (SVL.V) third quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. McEwen | MUX +9.14% $2.15 |
2. Pan American | PAAS +7.58% $11.07 |
3. Timmins | TGD +6.45% $1.32 |
LOSERS
1. Turquoise | TRQ -7.26% $4.09 |
2. Almaden | AAU -2.40% $1.22 |
3. Richmont | RIC -1.69% $1.16 |
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 Thursday, 14 November 2013 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Over 1%
