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

 -- Published: Tuesday, 28 January 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1254.10

-$1.00

Silver

$19.58

-$0.05

XAU

91.14

+1.74%

HUI

216.78

+1.84%

GDM

648.67

+1.76%

JSE Gold

1234.17

-35.93

USD

80.55

+0.07

Euro

136.68

-0.08

Yen

97.22

-0.33

Oil

$97.41

+$1.69

10-Year

2.746%

-0.020

Bond

132.59375

+0.25

Dow

15928.56

+0.57%

Nasdaq

4097.96

+0.35%

S&P

1792.50

+0.61%

 
 

 

The Metals:

 

Gold popped up to $1261.39 in early New York trade before it fell back off into midmorning, but it then bounced back higher in the last few hours of trade and ended with a loss of just 0.08%.  Silver slipped to as low as $19.488 and ended with a loss of 0.25%.

 

Euro gold fell to about €917, platinum remained at $1405.70, and copper fell a couple of cents to about $3.25.

 

Gold and silver equities traded mostly slightly higher and ended with almost 2% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

Dec

-4.3%

2.1%

2.6%

Durable Goods -ex trans.

Dec

-1.6%

0.6%

0.1%

Case-Shiller 20-city Index

Nov

13.7%

13.8%

13.6%

Consumer Confidence

Jan

80.7

77.5

77..5

 

Tomorrow at 2PM EST brings a FOMC rate decision.

 

The Markets:

 

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

 

Oil climbed higher on continued cold weather that raised demand expectation.

 

The U.S. dollar index edged higher as the yen continued to fall ahead of tomorrow’s fed meeting.

 

Treasuries turned up after today’s $32 billion 2-year note auction sold at a yield of 0.38% with a bid to cover of 3.3.

 

The Dow, Nasdaq, and S&P traded mostly higher on a better than expected Consumer Confidence reading.

 

Among the big names making news in the market today were J.C. Penney, Apple, Martin Marietta, AIG, Comcast, Jefferies, DuPont, and D.R. Horton.

 

GATA Posts:

 

 

Richard Russell: A gold-backed yuan or a debt-backed Federal Reserve note?

Gold flows east as bars recast for Chinese defy slump

 

The Statistics:

Activity from: 1/27/2014

Gold Warehouse Stocks:

7,141,230.857

-321,500.00

Silver Warehouse Stocks:

179,535,826.541

+551,983.018

 

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

790.456

25,413,962

US$31,787m

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$5,562m

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$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,303

US$1,672m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.37: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,029.22: No change from yesterday’s data.

 

The Miners:

 

Franco-Nevada’s (FNV) updates, Allied Nevada’s (ANV) metallurgical test program, and Richmont’s (RIC) increase in its indicated and inferred gold resources were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +6.76% $1.516

2.  Rubicon

RBY +6.09% $1.22

3.  Endeavour Silver

EXK +4.85% $4.32

 

LOSERS

1.  Tanzanian Royalty

TRX -4.74% $1.81

2.  Comstock

LODE -1.07% $1.85

3.  Rio Alto

RIOM -1.00% $1.99

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 2014

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.

 


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 -- Published: Tuesday, 28 January 2014 | E-Mail  | Print  | Source: GoldSeek.com

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