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

 -- Published: Monday, 3 February 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1257.80

+$12.90

Silver

$19.35

+$0.19

XAU

89.92

-0.87%

HUI

216.44

-0.15%

GDM

648.16

-0.32%

JSE Gold

1308.60

+7.87

USD

81.03

-0.25

Euro

135.27

+0.42

Yen

99.04

+1.01

Oil

$96.43

-$1.06

10-Year

2.581%

-0.087

Bond

134.875

+1.28125

Dow

15372.80

-2.08%

Nasdaq

3996.95

-2.61%

S&P

1741.89

-2.28%

 
 

 

The Metals:

 

Gold edged down to $1241.59 in late Asian trade, but it then jumped to as high as $1265.32 in New York and ended with a gain of 1.04%.  Silver surged to as high as $19.585 and ended with a gain of 0.99%.

 

Euro gold rose to about €930, platinum gained $7 to $1381, and copper fell slightly to about $3.19.

 

Gold and silver equities rose about 2% in the first half hour of trade, but they then fell back off for most of the rest of trade and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

Jan

51.3

56.0

56.5

Construction Spending

Dec

0.1%

0.1%

0.8%

 

Yellen sworn in as first woman Fed chair Reuters

Treasury's Lew warns that U.S. default could happen quickly Reuters

 

Tomorrow at 10AM EST brings Factory Orders for December expected at -1.7%.

 

The Markets:

 

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

 

Oil fell along with the U.S. dollar index on poor economic data that sent treasuries higher and the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were GM, Chrysler, and Herbalife.

 

GATA Posts:

 

 

Koos Jansen: The need for China to buy gold

Zero Hedge: Morgan corners gold with 60% of all U.S. gold derivatives

And still they impute crime to gold and bitcoin

Jeff Lewis: Price manipulation awareness may keep the mainstream away

 

The Statistics:

Activity from: 1/31/2014

Gold Warehouse Stocks:

7,081,261.890

-60,129.65

Silver Warehouse Stocks:

179,297,067.192

-111,627.66

 

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

793.155

25,500,732

US$32,168m

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$5,602m

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$453m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,273

US$1,676m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.86: +0.49 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,095.06: +65.84 change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) filed technical report, Goldcorp’s (GG) dividend, Harmony’s (HMY) quarterly loss, and Randgold’s (GOLD) year end results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +7.14% $1.80

2.  B2Gold

BTG +5.15% $2.45

3.  Randgold

GOLD +3.99% $71.65

 

LOSERS

1.  Buenaventura

BVN-5.32% $11.74

2.  Freeport

FCX -4.10% $31.08

3.  Turquoise

TRQ -3.70% $3.38

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: Monday, 3 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

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