-- Published: Wednesday, 9 July 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1327.70 | +$8.00 |
Silver | $21.11 | +$0.07 |
XAU | 103.76 | +2.59% |
HUI | 245.71 | +2.82% |
GDM | 749.20 | +2.47% |
JSE Gold | 1545.39 | +64.68 |
USD | 80.03 | -0.14 |
Euro | 136.42 | +0.30 |
Yen | 98.42 | -0.05 |
Oil | $102.29 | -$1.11 |
10-Year | 2.547% | -0.018 |
Bond | 136.78125 | +0.1875 |
Dow | 16985.61 | +0.47% |
Nasdaq | 4419.03 | +0.63% |
S&P | 1972.83 | +0.46% |
The Metals:
Gold climbed $7.35 to $1327.05 at about 8AM EST before it fell back to $1321.47 in the next four and a half hours of trade, but it then jumped to as high as $1331.80 after the release of today’s fed minutes and ended with a gain of 0.61%. Silver surged to as high as $21.221 and ended with a gain of 0.33%.
Euro gold rose to about €973, platinum gained $11 to $1502, and copper remained at about $3.25.
Gold and silver equities rose about 1.5% by midmorning and remained near that level for most of trade, but they then climbed even higher in the last two hours of the day and ended with almost 3% gains.
The Economy:
Minutes from the fed’s June 18th meeting showed that:
“Some Federal Reserve policy makers were concerned investors may be growing too complacent about the economic outlook and the central bank should be on the lookout for excessive risk-taking, according to minutes of their June meeting.”
Tomorrow brings Initial Jobless Claims and Wholesale Inventories.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil remained lower after the EIA reported that crude inventories fell 2.4 million barrels, gasoline inventories rose 600,000 barrels, and distillates rose 200,000 barrels.
The U.S. dollar index fell after the release of today’s fed minutes sent treasuries slightly higher. Today’s $21 billion 10-year note auction sold at yield of 2.597% with a bid to cover of just 2.57.
The Dow, Nasdaq, and S&P traded mostly higher on optimism over the start to earnings season.
Among the big names making news in the market today were Alcoa, Apple, Ford, Boeing, American Airlines, and American Apparel.
GATA Posts:
TF Metals Report: Understanding the latest bank participation report
Gene Arensberg: COT turning point?
New York Sun: Congress eyes rules for the Fed
Alasdair Macleod: Time for change in the London bullion market
German regulator asks banks, investment houses for data on clients' gold investments
The Statistics:
Activity from: 7/08/2014
Gold Warehouse Stocks: | 8,340,079.071 | +6,358.00 |
Silver Warehouse Stocks: | 175,605,217.158 | +41,960.87 |
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 | 800.284 | 25,729,923 | US$34,017m |
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$5,873m |
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$475m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 41.90 | 1,347,046 | US$1,769m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.096 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.28: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,038.52: No change from yesterday’s data.
The Miners:
Gold Fields’ (GFI) guidance update, Almaden’s (AAU) drill results, Kirkland’s (KGI.TO) fourth quarter results, Centamin’s (CEE.TO) preliminary production results, Pretivm’s (PVG) base shelf prospectus, Endeavour Silver’s (EXK) second quarter production results, and Coeur’s (CDE) second quarter production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Golden Minerals | AUMN +29.81% $1.33 |
2. Almaden | AAU +9.09% $1.56 |
3. Great Panther | GPL +7.69% $1.40 |
LOSERS
1. Richmont | RIC -3.01% $1.29 |
2. Comstock | LODE -1.19% $1.66 |
3. Mines Management | MGN -0.93% $1.07 |
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: Wednesday, 9 July 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Before and After Fed Minutes
