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Gold Seeker Closing Report: Gold and Silver End Mixed While Stocks Drop
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 7 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1311.60

+$5.20

Silver

$19.96

-$0.08

XAU

101.03

-0.04%

HUI

241.59

+0.03%

GDM

739.59

+0.54%

JSE Gold

1520.42

-17.32

USD

81.50

+0.07

Euro

133.63

-0.22

Yen

98.03

+0.08

Oil

$97.34

+$0.42

10-Year

2.424%

-0.050

Bond

139.375

+0.875

Dow

16368.27

-0.46%

Nasdaq

4334.96

-0.46%

S&P

1909.57

-0.56%

 
 

 

The Metals:

 

Gold waffled between $1308.54 and $1302.38 in Asia and London before it popped up to $1313.42 in early afternoon New York trade and then pared back in the next couple of hours of trade, but it then rose to a new session high of $1314.17 in the last hour of the day and ended with a gain of 0.4%.  Silver edged up to $20.108 before it dropped back to $19.889 and then bounced back higher, but it still ended with a loss of 0.4%.

 

Euro gold rose above €981, platinum gained $14 to $1473, and copper climbed a penny to about $3.18.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

8/02

289K

308K

303K

Consumer Credit

June

$17.3B

$15.8B

$19.6B

 

Tomorrow brings Productivity, Unit Labor Costs, and Wholesale Inventories.

 

The Markets:

 

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

 

Oil rose on increased geopolitical tensions in Iraq and Ukraine.

 

The U.S. dollar climbed against the euro after “Draghi said the risks to the economic recovery in the region are increasing.”

 

Treasuries traded mostly higher and the Dow, Nasdaq, and S&P traded mostly lower on international tensions.

 

Among the big names making news in the market today were Costco, BofA, Standard Chartered, T-Mobile, and HSBC.

 

GATA Posts:

 

 

Bullion Management Group: The manipulation of the gold market is self-evident

Australian gold miners note crash in exploration

Indian gold futures buyers starting to take delivery again

Andy Hoffman: The ultimate gold manipulation primer

UK Treasury may 'embrace' bitcoin, if only to choke it to death

Indian central banker fears competitive devaluations

Jason Hamlin: Manipulation by central banks keeps gold down, equities up

Sanctions against Russia hasten risk to dollar's dominance

 

The Statistics:

Activity from: 8/6/2014

Gold Warehouse Stocks:

9,123,567.773

+5,464.50

Silver Warehouse Stocks:

174,811,719.487

-200,754.23

 

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

797.654

25,645,376

US$33,488m

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$5,794m

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$468m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.89

1,346,780

US$1,744m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.394 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,034.13: +23.88 change from yesterday’s data.

 

The Miners:

 

SEMAFO’s (SMF.TO) second quarter results, Primero’s (PPP) second quarter results and mine expansion, and Randgold’s (GOLD) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Richmont

RIC +20.69% $2.10

2.  Lake Shore

LSG +6.84% $1.25

3.  Pretivm

PVG +4.63% $7.01

 

LOSERS

1.  Golden Minerals

AUMN-5.56% $1.19

2.  Sandstorm

SAND -4.16% $5.99

3.  Timmins

TGD -3.87% $1.74

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

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