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Gold Seeker Closing Report: Gold and Silver Gain Over 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 29 January 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1269.80

+$15.70

Silver

$19.78

+$0.20

XAU

93.15

+2.21%

HUI

222.55

+2.66%

GDM

665.47

+2.60%

JSE Gold

1296.77

+62.60

USD

80.58

+0.03

Euro

136.55

-0.01

Yen

97.77

+0.94

Oil

$97.36

-$0.05

10-Year

2.675%

-0.071

Bond

133.375

+0.75

Dow

15738.79

-1.19%

Nasdaq

4051.43

-1.14%

S&P

1774.20

-1.02%

 
 

 

The Metals:

 

Gold edged down to $1250.95 in Asia before it climbed to see an over 1% gain at $1268.95 by a little before 9AM EST and then fell back to almost unchanged just after today’s fed announcement, but it then rallied back higher into the close and ended near its last minute high of $1270.11 with a gain of 1.25%.  Silver slipped to $19.50 before it rallied to as high as $19.952 and then also fell back off at times, but it still ended with a gain of 1.02%.

 

Euro gold rose to almost €930, platinum gained $4.30 to $1410, and copper remained at about $3.25.

 

Gold and silver equities rose over 2% in the first 10 minutes of trade before they fell back to about unchanged by around 2PM EST, but they then bounced back higher in the last couple of hours of trade and ended near new session highs with about 2.5% gains.

 

The Economy:

 

U.S. mortgage applications near flat in latest week -MBA Reuters

 

The fed cut its stimulus plan by another $10 billion to $65 billion per month, as was widely expected.

 

Tomorrow brings Initial Jobless claims, GDP, and Pending Home Sales.

 

The Markets:

 

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

 

Oil ended slightly lower and the U.S. dollar index closed barely higher as traders digested today’s fed announcement.

 

Treasuries rose as the Dow, Nasdaq, and S&P extended lower after today’s fed decision failed to calm market fears.

 

Among the big names making news in the market today were Dow Chemical, Teva, and Yahoo.

 

The Statistics:

Activity from: 1/28/2014

Gold Warehouse Stocks:

7,141,230.857

-

Silver Warehouse Stocks:

179,443,293.241

-92,533.30

 

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$32,111m

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$5,606m

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$454m

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:

 

Timberline’s (TLR) permitting progress, Gold Resources (GORO) dividend, and Hecla’s (HL) preliminary production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Tanzanian Royalty

TRX +17.13% $2.12

2.  Alexco

AXU +9.68% $1.70

3.  Paramount

PZG +9.52% $1.15

 

LOSERS

1.  Pretivm

PVG -1.75% $6.17

2.  Almaden

AAU -1.44% $1.37

3.  Coeur

CDE -0.94% $10.50

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 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: Wednesday, 29 January 2014 | E-Mail  | Print  | Source: GoldSeek.com

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