-- Published: Monday, 29 September 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1216.50 | -$1.00 |
Silver | $17.49 | -$0.14 |
XAU | 83.28 | -1.28% |
HUI | 199.74 | -1.06% |
GDM | 602.78 | -1.11% |
JSE Gold | 1271.15 | -1.60 |
USD | 85.61 | -0.02 |
Euro | 126.90 | -0.03 |
Yen | 91.37 | -0.17 |
Oil | $94.42 | +$0.88 |
10-Year | 2.491% | -0.044 |
Bond | 138.34375 | +0.71875 |
Dow | 17071.22 | -0.25% |
Nasdaq | 4505.85 | -0.14% |
S&P | 1977.80 | -0.25% |
The Metals:
Gold edged down to $1215.43 in Asia before it bounced back to $1223.27 in London and then fell back off again in New York, but it ended with a loss of just 0.08%. Silver slipped to as low as $17.449 and ended with a loss of 0.79%.
Euro gold fell to about €958, platinum gained $8 to $1306, and copper climbed a penny to about $3.05.
Gold and silver equities fell about 1% by early afternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | Aug | 0.3% | 0.3% | 0.2% |
Personal Spending | Aug | 0.5% | 0.4% | 0.0% |
PCE Prices - Core | Aug | 0.1% | 0.0% | 0.1% |
Pending Home Sales | Aug | -1.0% | -0.2% | 3.2% |
Tomorrow brings the Case-Shiller 20-city Index, Chicago PMI, and Consumer Confidence.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as the U.S. dollar fell on worries about protests in Hong Kong that sent treasuries higher and the Dow, Nasdaq, and S&P lower.
Among the big names making news in the market today were Macy’s, Encana, Tibco, American Apparel, Commerzbank, Wal-Mart, and MasterCard.
The Commentary:
“• As noted last week, huge up and down swings in the U.S. stock market is yet another classic sign of major top being formed. Being a live chicken versus dead duck is best path for most.
• Just about everybody and their mother dislikes gold now. While very oversold and due for a technical rebound, you can see how determine the bears are to sell into any pop and get a break below $1,180. I think it’s best to stand aside and if there is a dramatic washout to the downside, step in when the overwhelming number of bearish articles run the inevitable headline, “last one out, turn the lights off in the gold market.”
• While the “Don’t Worry, Be Happy” crowd on Wall Street and TOUT-TV would like you to think all is well in the world, dark economic, social and political clouds can be seen all over world maps.
• Maybe we should just buy Goldman Sachs stock as they apparently run the world.” - Peter Grandich, http://moneytalks.net/peters-content.html
GATA Posts:
Rates on short-term Treasuries go negative
Lloyds fires eight over rate manipulation claims
Financial writer talks about hangup in publication of report on silver market rigging
Singapore bourse to start kilobar gold trading to lure investors
ECB president's strategy for reviving Europe looks like euro devaluation
Koos Jansen: Chinese gold demand 'extremely strong,' even 'astonishing'
For one New Jersey candidate, the issue is gold
New York Sun: Audit the New York Fed
Putin adviser suggests Russia knows all about West's gold price suppression
The Statistics:
Activity from: 9/26/2014
Gold Warehouse Stocks: | 9,286,584.942 | -32.15 |
Silver Warehouse Stocks: | 182,687,581.581 | -692,827.85 |
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 | 772.253 | 24,828,695 | US$30,265m |
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$5,407m |
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$437m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 38.04 | 1,222,979 | US$1,509m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.196 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.55: -0.63 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,762.15: +23.86 change from yesterday’s data.
The Miners:
Seabridge’s (SA) permits and Rio Alto’s (RIOM) completed drilling program were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. SilverCrest | SVLC +2.63% $1.56 |
2. Tahoe | TAHO +1.80% $20.87 |
3. Comstock | LODE +1.64% $1.24 |
LOSERS
1. McEwen | MUX -4.29% $2.01 |
2. Buenaventura | BVN-3.79% $11.94 |
3. NovaGold | NG -3.72% $3.11 |
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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-- Published: Monday, 29 September 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Lower
