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

 -- Published: Thursday, 14 August 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1313.00

+$1.40

Silver

$19.92

+$0.08

XAU

102.55

-1.18%

HUI

247.60

-0.32%

GDM

749.28

-1.00%

JSE Gold

1518.10

-1.06

USD

81.57

-0.04

Euro

133.70

+0.05

Yen

97.62

-0.02

Oil

$95.43

-$2.16

10-Year

2.400%

-0.013

Bond

140.09375

+0.625

Dow

16713.58

+0.37%

Nasdaq

4453.00

+0.43%

S&P

1955.18

+0.43%

 
 

 

The Metals:

 

Gold traded mostly slightly higher in Asia before it dropped back down to $1308.83 in London and then jumped up to $1318.30 in early New York trade, but it then drifted back lower into midday and ended with a gain of just 0.11%.  Silver slipped to as low as $19.803 at one point, but it then bounced back higher into the close and ended with a gain of 0.4%.

 

Euro gold climbed back over €982, platinum lost $1 to $1462, and copper fell a couple of cents to about $3.11.

 

Gold and silver equities rose almost 1% in the first half hour of trade, but they then fell back off for most of the rest of the day and ended with about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

8/09

311K

305K

290K

Export Prices

July

0.0%

-

-0.4%

Export Prices ex-ag.

July

0.3%

-

-0.3%

Import Prices

July

-0.2%

-

0.1%

Import Prices ex-oil

July

0.0%

-

-0.1%

 

Tomorrow brings PPI, Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, and Michigan Sentiment.

 

The Markets:

 

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

 

Oil fell on weak economic data out of Europe.

 

The U.S. dollar traded mostly lower on higher than expected Initial Jobless Claims.

 

Treasuries extended higher after today’s $16 billion 30-year note auction sold at yield of 3.224% with a bid to cover of 2.6.

 

The Dow, Nasdaq, and S&P saw modest gains on continued calm in Ukraine.

 

Among the big names making news in the market today were Cisco, Ally, Shell, Wal-Mart, Amazon, and Merck.

 

GATA Posts:

 

 

Euro-zone economy grinds to halt even before Russia sanctions bite

Gold demand in China slumps 52% as buying frenzy subsides, WGC says

Putin says Russia should aim to sell energy in rubles

Silver price going electronic in quest for transparency

At Australian mint, history thwarts a golden opportunity

 

The Statistics:

Activity from: 8/13/2014

Gold Warehouse Stocks:

9,800,254.453

+63,456.99

Silver Warehouse Stocks:

175,723,005.424

+581,798.08

 

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

795.597

25,579,227

US$33,589m

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$5,829m

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: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.262 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,101.29: No change from yesterday’s data.

 

The Miners:

 

Yamana’s (AUY) filed technical report, Almaden’s (AAU) drill results, Rio Alto’s (RIOM) second quarter results, B2Gold’s (BTG) second quarter results, MAG Silver’s (MVG) second quarter results, Hecla’s (HL) final settlement payment, and Avino’s (ASM) expansion update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  IAMGOLD

IAG +2.86% $3.96

2.  Rio Alto

RIOM +2.63% $2.73

3.  Revett

RVM +1.77% $1.15

 

LOSERS

1.  Rubicon

RBY -7.53% $1.35

2.  Timmins

TGD -5.52% $1.71

3.  Pan American

PAAS-5.43%$14.29

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

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