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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 4 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1288.50

-$4.80

Silver

$20.19

-$0.15

XAU

98.89

-1.20%

HUI

234.44

-1.04%

GDM

718.32

-0.75%

JSE Gold

1492.35

+17.15

USD

81.31

-0.03

Euro

134.21

-0.09

Yen

97.51

+0.03

Oil

$98.29

+$0.41

10-Year

2.491%

-0.014

Bond

138.125

+0.1875

Dow

16569.28

+0.46%

Nasdaq

4383.88

+0.72%

S&P

1938.99

+0.72%

 
 

 

The Metals:

 

Gold edged up to $1295.38 in late Asian trade before it dropped down to as low as $1286.15 by early afternoon in New York and then bounced back higher at times, but it still ended with a loss of 0.37%.  Silver slipped to as low as $20.152 and ended with a loss of 0.74%.

 

Euro gold fell to about €960, platinum gained $1 to $1459, and copper climbed a few cents to about $3.25.

 

Gold and silver equities fell over 1% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

There were no major economic reports today.  Tomorrow brings Factory Orders and ISM Services.

 

The Markets:

 

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

 

Oil bounced back from last week’s nearly 5% slide.

 

The U.S. dollar index waffled near unchanged ahead of this week’s ECB meeting.

 

Treasuries rose in continued reaction to last week’s jobs data that reduced expectations for an interest rate hike by the fed anytime soon.

 

The Dow, Nasdaq, and S&P rose in afternoon trade on easing worries about international credit after Portugal bailed out a troubled bank.

 

Among the big names making news in the market today were HSBC, Goldman Sachs, Warren Buffett, KKR, and Crown Resorts.

 

GATA Posts:

 

 

Gold industry takeovers reach three-year high as hunters feast

Bill Murphy: It's much bigger than you think

Miles Franklin's Schectman and Holter on gold market manipulation

 

The Statistics:

Activity from: 8/01/2014

Gold Warehouse Stocks:

8,129,205.933

-555,047.83

Silver Warehouse Stocks:

175,806,963.537

+490,164.257

 

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

801.844

25,780,078

US$33,252m

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$5,721m

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$462m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.89

1,346,780

US$1,744m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.97: +0.31 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,014.63: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Golden Minerals

AUMN +7.56% $1.21

2.  Lake Shore

LSG +1.83% $1.11

3.  Gold Fields

GFI +1.76% $4.05

 

LOSERS

1.  Tanzanian Royalty

TRX -8.20% $2.24

2.  Silver Standard

SSRI -6.74% $8.44

3.  NovaGold

NG -5.95% $3.48

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: Monday, 4 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

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