-- Published: Wednesday, 29 October 2014 | Print | Disqus
| Close | Gain/Loss |
Gold | $1211.20 | -$17.40 |
Silver | $17.07 | -$0.14 |
XAU | 72.89 | -3.86% |
HUI | 177.65 | -4.07% |
GDM | 545.05 | -3.77% |
JSE Gold | 1046.91 | -8.85 |
USD | 86.01 | +0.62 |
Euro | 126.40 | -0.93 |
Yen | 91.87 | -0.57 |
Oil | $82.20 | +$0.78 |
10-Year | 2.323% | +0.039 |
Bond | 141.25 | -0.28125 |
Dow | 16974.31 | -0.18% |
Nasdaq | 4549.23 | -0.33% |
S&P | 1982.30 | -0.14% |
The Metals:
Gold edged above $1230 in Asia before it dropped back to $1221.28 by a little before 9AM EST and then bounced back towards unchanged in the next hour of trade, but it then fell to a new session low of $1209.08 after today’s fed statement and ended with a loss of 1.42%. Silver slipped to as low as $17.053 and ended with a loss of 0.81%.
Euro gold fell to about €958, platinum lost $5 to $1258, and copper remained at about $3.08.
Gold and silver equities fell about 2% by late morning before they rallied back towards unchanged just before today’s fed statement, but they then fell to new lows in the last couple of hours of trade and ended with about 4% losses.
The Economy:
The fed ended its monthly bond purchase program as expected.
Fed Ends QE While Keeping ‘Considerable Time’ Low-Rate Pledge Bloomberg
Fed ends bond buying, exhibits confidence in U.S. recovery Reuters
Greenspan Sees Turmoil as QE Boost to Markets Unwinds Bloomberg
U.S. loan applications to buy homes lowest since February: MBA Reuters
Tomorrow brings Initial Jobless Claims and GDP.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil popped higher after the Energy Information Administration reported that crude inventories rose a smaller than expected 2.06 million barrels. Gasoline inventories fell 1.24 million barrels and distillates fell 5.29 million barrels.
The U.S. dollar jumped higher after today’s fed statement was seen as hawkish.
Treasuries remained lower after today’s 5-year note auction sold at a yield of 1.567% with a bid to cover of 2.36.
The Dow, Nasdaq, and S&P remained lower after the fed did not surprise the market with an extension of its bond purchase program.
Among the big names making news in the market today were Orbital, Chrysler, Carlyle, Twitter, and Facebook.
GATA Posts:
Debt must be inflated away or repudiated, Steer tells Sprott Money News
Russia buys most gold for reserves since financial crisis of 1998
MineWeb's Lawrence Williams: Large supply deficit in gold is likely ahead
The Statistics:
Activity from: 10/28/2014
Gold Warehouse Stocks: | 8,447,434.787 | -66,678.892 |
Silver Warehouse Stocks: | 180,931,710.402 | -591,331.77 |
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 | 743.593 | 23,907,253 | US$29,237m |
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$5,433m |
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$439m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 38.40 | 1,234,459 | US$1,506m |
COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.69.
Silver Trust (SLV) Total Tonnes in Trust: 10,681.42.
The Miners:
Newmont’s (NEM) dividend, Barrick’s (ABX) dividend, and Endeavour Silver’s (EXK) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNER
1. Almaden | AAU +2.40% $1.28 |
LOSERS
1. Allied Nevada | ANV -22.02% $1.65 |
2. DRDGOLD | DRD -9.29% $2.93 |
3. McEwen | MUX -9.09% $1.41 |
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: Wednesday, 29 October 2014 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall About 1%
