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Gold Seeker Closing Report: Gold and Silver End Mixed Yet Again
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 13 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1311.60

+$1.90

Silver

$19.84

-$0.12

XAU

103.79

-0.02%

HUI

249.22

-0.05%

GDM

759.70

+0.13%

JSE Gold

1519.16

-30.46

USD

81.61

+0.10

Euro

133.65

-0.02

Yen

97.63

-0.17

Oil

$97.59

+$0.22

10-Year

2.413%

-0.029

Bond

139.4375

+0.46875

Dow

16651.80

+0.55%

Nasdaq

4434.12

+1.02%

S&P

1946.72

+0.67%

 
 

 

The Metals:

 

Gold dropped $4.76 to $1304.94 by a little after 8AM EST before it jumped up to $1314.94 in the next few hours of trade and then chopped back lower at times, but it still ended with a gain of 0.15%.  Silver slipped to as low as $19.714 and ended with a loss of 0.6%.

 

Euro gold rose to about €981, platinum lost $1 to $1463, and copper fell 4 cents to about $3.13.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Retail Sales

July

0.0%

0.3%

0.2%

Retail Sales ex-auto

July

0.1%

0.3%

0.4%

Business Inventories

June

0.4%

0.4%

0.5%

 

U.S. mortgage applications fall in latest week: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims and Export and Import Prices.

 

The Markets:

 

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

 

Oil ultimately turned slightly higher after the Energy Information Administration reported that oil supplies rose 1.4 million barrels, gasoline inventories fell 1.2 million barrels, and distillates fell 2.4 million barrels.

 

The U.S. dollar ended with modest gains in mixed trade.

 

Treasuries rose on worse than expected economic data that kept interest rate expectations down and sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Land Rover, FleetCor and Comdata, Amazon, King, Deere, Time Warner, and Macy’s.

 

GATA Posts:

 

 

No interest rate rise in UK this year as Bank of England slashes wage growth forecast

Bloomberg notes that India's gold import limits are currency market intervention

Koos Jansen: Silver scarce in Shanghai

 

The Statistics:

Activity from: 8/12/2014

Gold Warehouse Stocks:

9,736,797.463

-

Silver Warehouse Stocks:

175,141,207.344

-92,738.73

 

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

795.859

25,587,648

US$33,551m

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$5,824m

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$471m

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: 10,101.29: No change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) expiring warrants, Pretivm’s (PVG) exercised over-allotment option, Santacruz Siler’s (SCZ.TO) new COO, and First Majestic’s (AG) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Timmins

TGD +4.02% $1.81

2.  Seabridge

SA +3.47% $10.72

3.  Solitario

XPL +2.68% $1.53

 

LOSERS

1.  Fortuna

FSM -6.77% $5.37

2.  First Majestic

AG -5.41% $10.36

3.  Richmont

RIC -4.02% $2.39

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

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