-- Published: Monday, 20 October 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1246.10 | +$8.30 |
Silver | $17.44 | +$0.16 |
XAU | 78.54 | +1.91% |
HUI | 191.16 | +2.22% |
GDM | 584.91 | +1.94% |
JSE Gold | 1090.07 | -36.38 |
USD | 84.96 | -0.24 |
Euro | 128.05 | +0.48 |
Yen | 93.59 | -0.03 |
Oil | $82.71 | -$0.04 |
10-Year | 2.181% | -0.018 |
Bond | 143.125 | +0.21875 |
Dow | 16399.67 | +0.12% |
Nasdaq | 4316.07 | +1.35% |
S&P | 1904.02 | +0.91% |
The Metals:
Gold dipped $3.21 to $1234.59 in Asia before it climbed up to $1248.60 in early New York trade and then chopped back lower into midday, but it then edged back higher in afternoon trade and ended with a gain of 0.67%. Silver rose to as high as $17.519 and ended with a gain of 0.93%.
Euro gold rose to about €973, platinum gained $7 to $1263, and copper fell a couple of cents to about $2.98.
Gold and silver equities traded only about 1% higher for most of the morning, but they then climbed to new highs in afternoon trade and ended with about 2% gains.
The Economy:
Underemployment Worse Than U.S. Data Suggest Yahoo
Market action reinforces need for policy patience: Fed's Rosengren Reuters
There were no major economic reports today. Tomorrow brings Existing Home Sales for September expected at 5,110,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil saw slight losses on the outlook for ample supplies in the face of weak demand.
The U.S. dollar fell and treasuries edged higher as the Dow, Nasdaq, and S&P waffled near unchanged and ended higher on mixed earnings reports.
Among the big names making news in the market today were Valeant, SAP, Adidas, and IBM.
The Commentary:
“"The reports of my death have been greatly exaggerated." Mark Twain
So apparently was that of gold. Like I said just a few weeks ago, the U.S. stock market and gold were at the most extreme opposites in the 30+ years I’ve been in and around Wall Street. The “Don’t Worry, Be Happy” crowd on Wall Street (and much of the financial media that follows them) convinced the masses the stock market could only go up and gold only down. Ironically, I said the bell would be rung for gold’s bottom when we read gold is dead and sure enough, a major financial publication ran a story with that headline. While it’s nice to see a developing triple-bottom in gold, we still need to get above both the 50-Day M.A. and the 200-Day M.A. before we can give the all-clear signal. Meanwhile, mining and exploration shares are selling at levels you would think metals prices were 50% lower. Never have they been more undervalued versus metals prices and the general market itself. But haven’t we felt that before?” - Peter Grandich, http://moneytalks.net/peters-content.html
GATA Posts:
Koos Jansen: The Chinese precious metals market is on fire
Indian govt. freaks out at gold demand and will try to suppress imports again
The Statistics:
Activity from: 10/17/2014
Gold Warehouse Stocks: | 8,923,174.858 | -83,622.15 |
Silver Warehouse Stocks: | 179,266,198.340 | -452,324.85 |
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 | 760.935 | 24,464,818 | US$30,436m |
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$5,528m |
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$447m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 38.40 | 1,234,459 | US$1,506m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.40: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,681.42: -35.78 change from yesterday’s data.
The Miners:
Gold Fields’ (GFI) guidance update, Randgold’s (GOLD) operational steadiness, Solitario’s (XPL) updated feasibility study, Timberline’s (TLR) estimated schedule for the completion and publication of the Final Environmental Impact Statement, Centerra’s (CG.TO) possible delisting, and Hecla’s (HL) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Solitario | XPL +11.12% $1.10 |
2. AuRico | AUQ +7.30% $3.82 |
3. Richmont | RIC +7.00% $2.60 |
LOSERS
1. DRDGOLD | DRD -3.44% $2.81 |
2. Tanzanian Royalty | TRX -2.82% $1.72 |
3. McEwen | MUX -2.22% $1.76 |
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, 20 October 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Almost 1% While Miners Gain 2%
