-- Published: Thursday, 8 May 2014 | Print | Disqus
Gold climbed to $1294.85 at about 7:45AM EST before it dropped back to $1285.59 in the next hour of trade, but it then chopped back higher into the close and ended with a loss of just 0.016%. Silver slipped to as low as $19.126 and ended with a loss of 0.73%.
Euro gold rose to almost €931, platinum gained $3.20 to $1433, and copper climbed a few cents to about $3.06.
Gold and silver equities rose almost 1% at the open before they fell to see slight losses about an hour into trade, but they then rallied back higher into the afternoon and ended near unchanged on the day.
Could take 5-8 years to shrink Fed portfolio: Yellen Reuters
U.S. 30-Year Mortgage Rate Declines to a Six-Month Low Bloomberg
Tomorrow brings Wholesale Inventories and JOLTS Job Openings data.
Charts Courtesy of http://finance.yahoo.com/
Oil fell and the U.S. dollar index climbed higher as the euro dropped after “European Central Bank President Mario Draghi said policy makers were ready to ease monetary policy in June if needed.”
Treasuries erased early gains after today’s $16 billion 30-year note auction sold at a yield of 3.44% with a bid to cover of 2.09.
The Dow, Nasdaq, and S&P saw decent gains midday on more dovish comments from fed chair Yellen before the Senate Budget Committee, but stocks then turned lower in late trade and ended mixed on worries about what tomorrow may bring.
Recap: Janet Yellen's appearance at the Senate Budget Committee MarketWatch
Among the big names making news in the market today were AMC, Sun Pharma, Priceline, Tesla, Pfizer, AOL, and McDonald’s.
Activity from: 5/07/2014
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,320.26: No change from yesterday’s data.
Franco-Nevada’s (FNV) director election, Randgold’s (GOLD) first quarter results and mine in the Democratic Republic of Congo, Richmont’s (RIC) first quarter results, McEwen’s (MUX) first quarter results, Gold Fields’ (GFI) first quarter results, and Timberline’s (TLR) agreement to acquire Wolfpack were among the big stories in the gold and silver mining industry making headlines today.
PVG +5.56% $6.86
PPP +2.68% $6.51
SAND +2.28% $5.82
SVLC -3.57% $1.755
TGD -3.55% $1.36
3. Mines Management
MGN -3.05% $1.27
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, 8 May 2014 | E-Mail | Print | Source: GoldSeek.com