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

 -- Published: Wednesday, 6 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1306.40

+$18.30

Silver

$20.04

+$0.23

XAU

101.42

+2.08%

HUI

242.50

+2.30%

GDM

738.36

+1.94%

JSE Gold

1537.74

+50.13

USD

81.43

-0.09

Euro

133.80

+0.06

Yen

97.99

+0.51

Oil

$96.92

-$0.46

10-Year

2.474%

-0.009

Bond

138.5625

+0.1875

Dow

16443.34

+0.08%

Nasdaq

4355.05

+0.05%

S&P

1920.24

+0.00%

 
 

 

The Metals:

 

Gold saw slight gains in Asia and London before it jumped up to $1309.30 at about 10:30AM EST and then chopped back lower at times, but it still ended with a gain of 1.42%.  Silver surged to as high as $20.076 and ended with a gain of 1.16%.

 

Euro gold rose above €976, platinum gained $9 to $1459, and copper fell 4 cents to about $3.17.

 

Gold and silver equities rose over 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Trade Balance

June

-$41.5B

-$45.2B

-$44.7B

 

Tomorrow brings Initial Jobless Claims and Consumer Credit.

 

The Markets:

 

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

 

Oil erased early gains after the Energy Information Administration reported that crude inventories fell 1.8 million barrels, gasoline inventories fell 4.4 million barrels, and distillates fell 1.8 million barrels.

 

The U.S. dollar index fell as the yen rose on worries about Ukraine that sent treasuries higher.

 

The Dow, Nasdaq, and S&P ended near unchanged in mixed trade.

 

Among the big names making news in the market today were BofA, Sprint and T-Mobile, Fox and Time Warner, Mondelez, Walgreen, and Eagle Bulk Shipping.

 

GATA Posts:

 

 

Economic data doesn't match declining living conditions, Sprott says

 

The Statistics:

Activity from: 8/05/2014

Gold Warehouse Stocks:

9,118,103.273

+26,339.255

Silver Warehouse Stocks:

175,012,473.717

-723,100.53

 

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

800.048

25,722,348

US$33,588m

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$5,799m

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

1,346,780

US$1,744m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.93: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,010.25: No change from yesterday’s data.

 

The Miners:

 

Richmont’s (RIC) closed transaction, Randgold’s (GOLD) tightened health precautions, Timmins Gold’s (TGD) AGM results, Midway’s (MDW) second quarter results, and Claude’s (CGR) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Rio Alto

RIOM +8.41% $2.45

2.  SilverCrest

SVLC +6.06% $2.10

3.  AuRico

AUQ +5.79% $4.29

 

LOSERS

1.  Sandstorm

SAND-6.99% $6.25

2.  Comstock

LODE -1.88% $1.57

3.  Revett

RVM -1.62% $1.21

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

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