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Gold Seeker Closing Report: Gold Falls While Silver Holds Firm
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 22 July 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1306.50

-$6.40

Silver

$20.94

UNCH

XAU

100.78

-1.11%

HUI

241.72

-1.03%

GDM

740.75

-0.84%

JSE Gold

1549.18

-11.28

USD

80.77

+0.21

Euro

134.69

-0.55

Yen

98.59

-0.05

Oil

$104.42

-$0.17

10-Year

2.466%

-0.008

Bond

138.5625

+0.125

Dow

17113.54

+0.36%

Nasdaq

4456.01

+0.71%

S&P

1983.53

+0.50%

 
 

 

The Metals:

 

Gold fell $10.81 to $1302.09 at about 8:20AM EST before it jumped up to $1315.45 in the next 20 minutes of trade, but it then fell back off again in midmorning trade and ended with a loss of 0.49%.  Silver slipped to as low as $20.743 before it climbed to $21.058 and then also fell back off, but it still ended at unchanged on the day.

 

Euro gold remained at about €970, platinum lost $3 to $1482, and copper climbed a penny to about $3.21.

 

Gold and silver equities fell over 1% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

June

0.3%

0.3%

0.4%

Core CPI

June

0.1%

0.2%

0.3%

FHFA Housing Price Index

May

0.4%

-

0.1%

Existing Home Sales

June

5.04M

5.00M

4.91M

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index rose on steady economic data.

 

Treasuries saw slight gains on geopolitical worries.

 

The Dow, Nasdaq, and S&P rose on mostly better than expected earnings results.

 

Among the big names making news in the market today were Credit Suisse, McDonald’s, CIT, Coca-Cola, and State Street.

 

GATA Posts:

Jeremy Warner: Have central banks been breaking the law?

Petropavlovsk's Hambro 'horrified' by gold market rigging; he should buy a GATA T-shirt

New gold miner ETF avoids primary investment in Barrick

Liam Halligan: The dollar's 70-year dominance is coming to an end

 

The Statistics:

Activity from: 7/21/2014

Gold Warehouse Stocks:

8,486,920.367

-

Silver Warehouse Stocks:

176,562,490.480

+914,599.17

 

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

803.340

25,828,190

US$33,829m

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$5,798m

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$469m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.89

1,346,839

US$1,766m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.796 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.06: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,038.52: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) priced offering, Seabridge’s (SA) closed financing, Comstock’s (LODE) second quarter results, and Hecla’s (HL) new Vice President of Technology & Innovation were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Solitario

XPL +6.02% $1.41

2.  Freeport

FCX +0.47% $38.72

3.  Avino

ASM +0.44% $2.27

 

LOSERS

1.  Pretivm

PVG -7.35% $7.31

2.  Golden Minerals

AUMN-6.57% $1.28

3.  Tanzanian Royalty

TRX -6.49% $2.16

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: Tuesday, 22 July 2014 | E-Mail  | Print  | Source: GoldSeek.com

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