-- Published: Thursday, 24 April 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1292.90 | +$8.50 |
Silver | $19.67 | +$0.24 |
XAU | 91.72 | -1.35% |
HUI | 224.22 | -1.69% |
GDM | 63.68 | -1.28% |
JSE Gold | 1548.95 | +26.99 |
USD | 79.79 | -0.07 |
Euro | 138.26 | +0.09 |
Yen | 97.76 | +0.22 |
Oil | $101.94 | +$0.50 |
10-Year | 2.688% | +0.002 |
Bond | 134.5625 | +0.09375 |
Dow | 16501.65 | UNCH |
Nasdaq | 4148.34 | +0.52% |
S&P | 1878.61 | +0.17% |
The Metals:
Gold dropped $15.69 to $1268.71 at about 8:20AM EST before it shot up to $1297.96 in the next hour and a half of trade and then fell back off into late morning in New York, but it still ended with a gain of 0.66%. Silver slipped to $18.957 before it jumped up to $19.915 and then also fell back off, but it still ended with a gain of 1.24%.
Euro gold rose to about €935, platinum gained $7.70 to $1407.70, and copper climbed 4 cents to about $3.10.
Gold and silver equities fell a little over 1% by midmorning and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 4/19 | 329K | 312K | 305K |
Durable Goods | Mar | 2.6% | 2.0% | 2.1% |
Durable Goods -ex trans. | Mar | 2.0% | 0.5% | 0.1% |
Tomorrow brings Michigan Sentiment for April expected at 82.6.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on renewed worries about geopolitical tensions in Ukraine that sent the U.S. dollar index lower.
Treasuries remained near unchanged after today’s $29 billion 7 year note auction sold at yield of 2.317% with a bid to cover of 2.60.
The Dow, Nasdaq, and S&P traded mostly higher on better than expected earnings reports.
Among the big names making news in the market today were Alstom, Caterpillar, 3M, Zimmer and Bionet, GM, Gucci, Apple, GE, and Facebook.
The Commentary:
“A quick chart update...
The 200 day moving average is serving to cap the move higher, for now. Nothing definitive either way, bull or bear. It's a crap shoot and traders do not shoot craps.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Comex plans to get in on Asian gold trade, Reuters says
China and U.S. likely cooperate in gold suppression, researcher Koos Jansen says
The Statistics:
Activity from: 4/23/2014
Gold Warehouse Stocks: | 7,991,301.135 | - |
Silver Warehouse Stocks: | 177,068,371.237 | +475,734.014 |
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 | 792.139 | 25,468,060 | US$32,880m |
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$5,729m |
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 | 40.85 | 1,313,498 | US$1,688m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.41: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,282.78: No change from yesterday’s data.
The Miners:
Richmont’s (RIC) access development, Freeport’s (FCX) first quarter results, Midway’s (MDW) capital reduction forecasts, Alamos Gold’s (AGI) first quarter results, Sandstorm’s (SAND) loan to Luna Gold (LGC.TO), and Silver Standard’s (SSRI) Stock Option Plan amendments were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Solitario | XPL +7.31% $1.12 |
2. Avino | ASM +6.41% $1.67 |
3. Pretivm | PVG +4.26% $6.12 |
LOSERS
1. Alexco | AXU -6.62% $1.27 |
2. Paramount | PZG -6.31% $1.05 |
3. McEwen | MUX -5.84% $2.42 |
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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-- Published: Thursday, 24 April 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Erase Early Losses and End Higher
