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Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 12 June 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1273.80

+$12.80

Silver

$19.56

+$0.35

XAU

91.69

+2.31%

HUI

221.32

+2.42%

GDM

663.04

+2.50%

JSE Gold

1408.56

-5.70

USD

80.54

-0.25

Euro

135.55

+0.22

Yen

98.10

+0.35

Oil

$106.53

+$2.13

10-Year

2.586%

-0.054

Bond

136.625

+0.84375

Dow

16734.19

-0.65%

Nasdaq

4297.63

-0.79%

S&P

1930.11

-0.71%

 
 

 

The Metals:

 

Gold climbed to as high as $1274.44 by early afternoon in New York and ended with a gain of 1.02%.  Silver surged to as high as $19.578 and ended with a gain of 1.82%.

 

Euro gold rose to about €939, platinum dropped $38 to $1439, and copper fell a couple of cents to about $3.01.

 

Gold and silver equities rose about 2.5% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

6/07

317K

315K

313K

Retail Sales

May

0.3%

0.7%

0.5%

Retail Sales ex-auto

May

0.1%

0.4%

0.4%

Export Prices

May

0.1%

-

-1.0%

Export Prices ex-ag.

May

0.1%

-

-1.4%

Import Prices

May

0.1%

-

-0.5%

Import Prices ex-oil

May

0.0%

-

0.1%

Business Inventories

April

0.6%

0.4%

0.4%

 

U.S. Mortgage Rates Rise for a Second Week Bloomberg

 

Tomorrow brings PPI and Michigan Sentiment.

 

The Markets:

 

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

 

Oil jumped higher on escalating unrest in Iraq.

 

The U.S. dollar index fell on worse than expected economic data.

 

Treasuries extended higher after today’s $13 billion 30-year note auction sold at a yield of 3.444% with a bid to cover of 2.69.

 

The Dow, Nasdaq, and S&P fell on economic and geopolitical concerns.

 

Among the big names making news in the market today were Lululemon, Twitter, Intel, BNP Paribas, and Blackstone.

 

The Statistics:

Activity from: 6/11/2014

Gold Warehouse Stocks:

8,281,501.195

+31,880.495

Silver Warehouse Stocks:

176,401,966.559

-60,035.99

 

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$32,012m

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$5,647m

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$457m

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: 10,321.72: -32.86 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) and Freeport’s (FCX) work in Indonesia and Newcrest’s (NCM.AX) 2015 outlook were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alexco

AXU +12.64% $1.07

2.  Almaden

AAU +10.61% $1.46

3.  Great Panther

GPL +9.18% $1.07

 

LOSERS

1.  Freeport

FCX -1.15% $33.67

2.  Gold Fields

GFI -0.82% $3.61

3.  Turquoise

TRQ -0.27% $3.67

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: Thursday, 12 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

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