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

 -- Published: Tuesday, 11 February 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1289.90

+$15.30

Silver

$20.20

+$0.15

XAU

98.67

+3.81%

HUI

234.86

+4.20%

GDM

709.88

+3.70%

JSE Gold

1399.06

+32.41

USD

80.62

-0.01

Euro

136.40

-0.05

Yen

97.45

-0.37

Oil

$99.94

-$0.12

10-Year

2.719%

+0.041

Bond

132.78125

-0.50

Dow

15994.77

+1.22%

Nasdaq

4191.04

+1.03%

S&P

1819.75

+1.11%

 
 

 

The Metals:

 

Gold climbed $12.78 to $1287.38 at about 8AM EST before it fell back to $1276.23 in the next 45 minutes of trade, but it then rose to a new session high of $1292.22 by late morning in New York and ended with a gain of 1.2%.  Silver slipped back to $19.939 before it rebounded to $20.27 and then fell back off in early afternoon trade, but it still ended with a gain of 0.75%.

 

Euro gold jumped to almost €946, platinum gained $3 to $1384, and copper remained at about $3.22.

 

Gold and silver equities rose over 4% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

JOLTS - Job Openings

Dec

3.99M

-

4.033M

Wholesale Inventories

Dec

0.3%

0.6%

0.5%

 

Yellen says Fed on track to keep trimming stimulus Reuters

Yellen Says Recovery in Labor Market Far From Complete Bloomberg

House Republicans aim to pass 'clean' debt limit bill: source Reuters

Home Prices Rose in Fewer U.S. Markets in Fourth Quarter Bloomberg

 

Tomorrow at 2PM EST brings the Treasury Budget for January expected at -$10.0 billion.

 

The Markets:

 

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

 

Oil ended slightly lower in mixed trade while the U.S. dollar index waffled near unchanged after Yellen’s testimony before the House Financial Services Committee.

 

Treasuries remained lower after today’s $30 billion 3-year note auction sold at a yield of 0.715% with a bid to cover of 3.42.

 

The Dow, Nasdaq, and S&P climbed over 1% higher after Yellen’s pledge to continue her predecessor’s economic policy at the fed.

 

Among the big names making news in the market today were Tesla, CVS, Barclays, and McDonald’s.

 

GATA Posts:

 

 

Bundesbank delays gold repatriation schedule

China's 500-tonne gold gap fuels talk of stockpiling

TF Metals Report: Trends of the latest bank participation report

Sprott praises GATA consultant Speck's 'The Gold Cartel'

 

The Statistics:

Activity from: 2/10/2014

Gold Warehouse Stocks:

7,118,444.923

-26,858.445

Silver Warehouse Stocks:

182,559,696.854

+270,845.16

 

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

797.053

25,626,058

US$32,836m

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$5,732m

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$463m

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: 163.18: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,045.79: No change from yesterday’s data.

 

The Miners:

 

Timmins Gold’s (TGD) closed offering, Richmont’s (RIC) updated corporate mineral reserve and resource estimates, and Rubicon’s (RBY) gold streaming agreement and construction update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +9.45% $1.39

2.  Primero

PPP +9.42% $6.62

3.  Harmony

HMY +9.19% $3.09

 

LOSERS

1.  Alexco

AXU -14.08% $1.77

2.  Almaden

AAU -3.45% $1.68

3.  Midway

MDW -1.54% $1.28

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

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