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

 -- Published: Wednesday, 11 June 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1261.00

+$0.20

Silver

$19.21

-$0.02

XAU

89.68

+1.71%

HUI

215.57

+1.83%

GDM

645.73

+1.74%

JSE Gold

1414.26

+1.98

USD

80.79

-0.01

Euro

135.29

-0.17

Yen

98.02

+0.29

Oil

$104.40

+$0.05

10-Year

2.640%

+0.010

Bond

135.71875

-0.125

Dow

16843.88

-0.60%

Nasdaq

4331.93

-0.14%

S&P

1943.89

-0.35%

 
 

 

The Metals:

 

Gold edged up to $1265.00 by a little before 9AM EST before it dropped back to $1258.62 in early afternoon trade and then bounced back higher, but it ended with a gain of just 0.016%.  Silver slipped to as low as $19.164 and ended with a loss of 0.1%.

 

Euro gold rose to about €932, platinum gained $1 to $1477, and copper fell a few cents to about $3.03.

 

Gold and silver equities rose nearly 2% by late morning before they fell back towards unchanged in early afternoon trade, but they then rallied back higher into the close and ended back near their earlier highs.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Treasury Budget

May

-$130.0B

-

-$138.7B

 

U.S. mortgage applications rise in latest week-MBA Reuters

 

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

 

The Markets:

 

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

 

Oil remained near unchanged after the Energy Information Administration reported that crude inventories fell 2.6 million barrels, gasoline inventories rose 1.7 million barrels, and distillates rose 900,000 barrels.

 

The U.S. dollar index traded mostly lower as the yen rose on the view that the Bank of Japan will not ease its monetary policy further.

 

Treasuries remained firm as the Dow, Nasdaq, and S&P dropped after the World Bank cut its global growth forecast.

 

Among the big names making news in the market today were GM, Synaptics, AIG, Nissan, and Bank of America.

 

GATA Posts:

 

 

GATA Chairman Murphy's presentation to the Stansberry conference May 31

London gold fixing is open to manipulation, LME executive says

 

The Statistics:

Activity from: 6/10/2014

Gold Warehouse Stocks:

8,249,620.700

-16,039.15

Silver Warehouse Stocks:

176,462,002.549

-135,802.71

 

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

787.076

25,305,269

US$31,917m

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$5,604m

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$452m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.68

1,339,954

US$1,709m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.47: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.58: No change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) reports of an approved mine plan was the only big story in the gold and silver mining industry making headlines today.

 

WINNERS

1.  AuRico

AUQ +9.38% $4.08

2.  Allied Nevada

ANV +7.43% $3.45

3.  B2Gold

BTG +6.81% $2.51

 

LOSERS

1.  Richmont

RIC -3.39% $1.14

2.  Turquoise

TRQ -1.60% $3.68

3.  Buenaventura

BVN -1.49% $9.95

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

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