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

 -- Published: Wednesday, 3 September 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1270.00

+$4.80

Silver

$19.22

+$0.06

XAU

98.23

-0.53%

HUI

237.16

-0.39%

GDM

714.97

-0.42%

JSE Gold

1508.63

-29.44

USD

82.85

-0.14

Euro

131.47

+0.14

Yen

95.45

+0.29

Oil

$95.30

+$2.41

10-Year

2.410%

-0.009

Bond

140.46875

+0.34375

Dow

17078.28

+0.06%

Nasdaq

4572.56

-0.56%

S&P

2000.72

-0.08%

 
 

 

The Metals:

 

Gold fell $3.60 to $1261.60 in late Asian trade before it bounced back to $1271.25 in London and then drifted back to roughly unchanged at about 10AM EST, but it then edged back higher into the close and ended with a gain of 0.38%.  Silver climbed to $19.252 before it fell back to $19.119, but it still ended with a gain of 0.31%.

 

Euro gold rose to about €966, platinum gained $2 to $1408, and copper fell a couple of cents to about $3.13.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Factory Orders

July

10.5%

11.0%

1.5%

 

Fed Beige Book survey finds economic pickup  usatoday

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

 

Tomorrow brings ADP Employment, Initial Jobless Claims, the Trade Balance, Productivity, Unit Labor Costs, and ISM Services.

 

The Markets:

 

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

 

Oil rose on hopes for a possible ceasefire between Russia and Ukraine.

 

The U.S. dollar edged lower as the euro bounced back on easing geopolitical tensions that sent treasuries lower and the Dow and S&P higher at the open, but bonds edged back higher and the major indices turned mixed by the close on uncertainty about those ceasefire negotiations.

 

Among the big names making news in the market today were IEX, Jefferies, LinkedIn, Chrysler, and Nissan.

 

GATA Posts:

 

 

Max Keiser interviews Trace Mayer on bitcoin, gold, GATA, and currency war  

Embry: Manipulation causes contrast between gold/silver and platinum/palladium

 

The Statistics:

Activity from: 9/2/2014

Gold Warehouse Stocks:

9,766,489.831

-96.45

Silver Warehouse Stocks:

179,537,038.964

-75,276.319

 

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

793.204

25,502,289

US$32,256m

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$5,630m

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$455m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.04

1,223,154

US$1,550m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.795 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.27: -0.18 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,371.35: +59.67 change from yesterday’s data.

 

The Miners:

 

Seabridge Gold’s (SA) drill results and Almaden’s (AAU) Preliminary Economic Assessment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Rio Alto

RIOM +3.20% $2.90

2.  Paramount

PZG +3.03% $1.02

3.  MAG Silver

MVG +2.86% $8.64

 

LOSERS

1.  Primero

PPP -4.13% $6.26

2.  Seabridge

SA -3.57% $10.53

3.  Almaden

AAU -3.57% $1.35

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, 3 September 2014 | E-Mail  | Print  | Source: GoldSeek.com

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