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Gold Seeker Closing Report: Gold and Silver Fall About 2% and 3%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 30 January 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1243.00

-$26.80

Silver

$19.20

-$0.58

XAU

91.16

-2.14%

HUI

217.01

-2.49%

GDM

652.20

-2.01%

JSE Gold

1265.86

-30.91

USD

81.08

+0.50

Euro

135.51

-1.13

Yen

97.40

-0.43

Oil

$98.23

+$0.87

10-Year

2.693%

+0.018

Bond

133.25

-0.25

Dow

15848.61

+0.70%

Nasdaq

4123.12

+1.77%

S&P

1794.19

+1.13%

 
 

 

The Metals:

 

Gold dropped to as low as $1238.22 at about 9:20AM EST before it bounced back higher for the rest of trade, but it still ended with a loss of 2.11%.  Silver slipped to as low as $19.017 and ended with a loss of 2.93%.

 

Euro gold fell to about €917, platinum lost $30 to $1380, and copper fell slightly to about $3.24.

 

Gold and silver equities fell about 3% at the open before they rebounded at times, but they still ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

1/25

348K

325K

329K

GDP

Q4

3.2%

3.0%

4.1%

Chain Deflator

Q4

1.3%

1.2%

2.0%

Pending Home Sales

Dec

-8.7%

-0.2%

-0.3%

 

Tomorrow brings Personal Income and Spending, Core PCE Prices, the Employment Cost Index, Chicago PMI, and Michigan Sentiment.

 

The Markets:

 

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

 

Oil rose along with the U.S. dollar index on strong GDP data.

 

Treasuries fell as the Dow, Nasdaq, and S&P climbed higher on positive earnings reports.

 

Among the big names making news in the market today were 3M, Blackstone, Bank of America, Facebook, Visa, Raytheon, and Viacom.

 

The Statistics:

Activity from: 1/29/2014

Gold Warehouse Stocks:

7,141,230.857

-

Silver Warehouse Stocks:

179,823,163.172

+379,869.931

 

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

792.555

25,481,450

US$31,648m

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$5,521m

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$447m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,273

US$1,676m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.099 tonnes.

 

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:

 

Seabridge’s (SA) donation to Northwest Community College, Royal Gold’s (RGLD) second quarter results, Centamin’s (CEE.TO) market update, and Goldcorp’s (GG) response to Osisko (OSK.TO) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +4.35% $1.20

2.  Avino

ASM +2.55% $1.61

3.  Allied Nevada

ANV +2.20% $4.65

 

LOSERS

1.  Tanzanian Royalty

TRX -6.60% $1.98

2.  MAG Silver

MVG -5.71% $6.11

3.  Gold Fields

GFI -5.28% $3.41

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: Thursday, 30 January 2014 | E-Mail  | Print  | Source: GoldSeek.com

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