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Gold Seeker Closing Report: Gold and Silver Fall With Stocks
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 22 October 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1241.50

-$6.80

Silver

$17.15

-$0.36

XAU

75.92

-3.58%

HUI

184.58

-3.17%

GDM

566.55

-2.94%

JSE Gold

1085.07

-19.91

USD

85.75

+0.40

Euro

126.46

-0.70

Yen

93.34

-0.09

Oil

$80.52

-$1.97

10-Year

2.229%

+0.021

Bond

142.46875

-0.21875

Dow

16461.32

-0.92%

Nasdaq

4382.84

-0.83%

S&P

1927.11

-0.73%

 
 

 

The Metals:

 

Gold edged up to $1249.35 in Asia before it dropped back to $1241.45 at about 9AM EST and then bounced back higher into midday, but it then fell back off again in the last couple of hours of trade and ended with a loss of 0.54%.  Silver slipped to as low as $17.122 and ended with a loss of 2.06%.

 

Euro gold remained at about €982, platinum lost $12 to $1262, and copper fell a couple of cents to about $3.01.

 

Gold and silver equities fell throughout most of trade and ended with about 3% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Sep

0.1%

0.0%

-0.2%

Core CPI

Sep

0.1%

0.2%

0.0%

 

U.S. mortgage applications rose last week: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims, the FHFA Housing Price Index, and Leading Economic Indicators.

 

The Markets:

 

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

 

Oil ultimately fell in mixed trade after the Energy Information Administration reported that crude inventories rose 7.11 million barrels, gasoline inventories fell 1.3 million barrels, and distillates rose 1.05 million barrels.

 

The U.S. dollar climbed on higher than expected inflation data that raised interest rate expectations.

 

Treasuries fell as the Dow, Nasdaq, and S&P edged higher on decent earnings reports for most of the morning, but stocks then fell back off in afternoon trade and ended with decent losses on worries about a shooting in Canada.

 

Among the big names making news in the market today were Toyota, Total, General Dynamic, Abbott, Dow Chemical, and Boeing.

 

GATA Posts:

 

 

Barron interviewed on 'peak gold,' mining costs, and Swiss referendum

Top bullion consumer China works on first gold forwards, options

Koos Jansen: It's official -- China's gold demand in 2013 was 2,199 tonnes

Currency wars are back: 'Export your deflation to someone else'

James G. Rickards: In the year 2024

Kinross to sell halted Ecuador gold project to Lundin company

 

 

The Statistics:

Activity from: 10/21/2014

Gold Warehouse Stocks:

8,898,895.870

-

Silver Warehouse Stocks:

179,586,585.180

+138,648.68

 

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

751.965

24,176,415

US$30,058m

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$5,522m

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$446m

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: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) Preliminary Economic Assessment and Randgold’s (GOLD) comments about Africa were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Coeur

CDE -15.22% $4.32

2.  Avino

ASM -10.26% $1.40

3.  DRDGOLD

DRD -7.78% $2.49

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, 22 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

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