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Gold Seeker Closing Report: Gold and Silver Close Near Unchanged in Mixed Trade
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 12 February 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1290.90

+$1.00

Silver

$20.20

UNCH

XAU

95.95

-2.76%

HUI

228.35

-2.77%

GDM

689.90

-2.80%

JSE Gold

1451.33

+52.27

USD

80.69

+0.07

Euro

135.93

-0.46

Yen

97.57

+0.11

Oil

$100.37

+$0.43

10-Year

2.763%

+0.044

Bond

132.25

-0.59375

Dow

15963.94

-0.19%

Nasdaq

4201.28

+0.24%

S&P

1819.26

-0.03%

 
 

 

The Metals:

 

Gold saw slight losses in Asia before it rallied up to $1296.01 by early afternoon in New York, but it then drifted back lower into the close and ended with a gain of just 0.08%.  Silver rose to as high as $20.39 before it also fell back off and ended unchanged on the day.

 

Euro gold climbed to almost €950, platinum gained $19 to $1403, and copper climbed 4 cents to about $3.26.

 

Gold and silver equities saw just slight losses for most of the morning, but they then fell back off further in afternoon trade and ended almost 3% lower on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Treasury Budget

Jan

-$10.4B

-$10.0B

$2.9B

 

Mortgage applications fall in latest week: MBA Reuters

Next Debt Cap Raise Wouldn’t Be Needed Until Mid-2015 Bloomberg Bullard Sees Fed Swapping Thresholds for Qualitative Views Bloomberg

Jobless drop will force Fed to more 'traditional' policy: Bullard Reuters

 

Tomorrow brings Initial Jobless Claims, Retail Sales, and Business Inventories.

 

The Markets:

 

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

 

Oil rose on higher than expected imports into China.

 

The U.S. dollar index saw slight gains as the euro fell after some poor factory data raised the possibility of more monetary stimulus from the ECB.

 

Treasuries remained lower after today’s $24 billion 10-year note auction sold at a yield of 2.795% with a bid to cover of 2.54.

 

The Dow, Nasdaq, and S&P waffled near unchanged in mixed trade.

 

Among the big names making news in the market today were Microsoft, GM, and Deere.

 

GATA Posts:

 

 

Bron Suchecki: How central bank gold lending suppresses gold's price

Bitcoin hit by denial-of-service attacks as regulators prepare clampdown

 

The Statistics:

Activity from: 2/11/2014

Gold Warehouse Stocks:

7,103,394.945

-15,049.978

Silver Warehouse Stocks:

182,536,600.364

-23,096.49

 

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

798.852

25,683,897

US$33,102m

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$5,742m

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$464m

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 1.799 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.18: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,090.68: +44.89 change from yesterday’s data.

 

The Miners:

 

Barrick Gold’s (ABX) dividend, Banro’s (BAA) financing, and African Barrick’s rising output were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +3.47% $2.09

2.  Solitario

XPL +2.88% $1.07

3.  Pretivm

PVG +1.87% $6.53

 

LOSERS

1.  Fortuna

FSM -7.14% $4.16

2.  McEwen

MUX -6.34% $2.66

3.  Gold Resource

GORO-6.05% $4.97

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: Wednesday, 12 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

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