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Gold Seeker Closing Report: Gold Dips but Miners Gain
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 3 November 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1166.90

$5.50

Silver

$16.16

UNCH

XAU

66.83

+3.02%

HUI

160.42

+2.69%

GDM

494.50

+2.38%

JSE Gold

1001.34

+43.61

USD

87.30

+0.43

Euro

124.90

-0.29

Yen

87.83

-1.21

Oil

$78.78

-$1.76

10-Year

2.348%

+0.013

Bond

141.03125

-0.0625

Dow

17366.24

-0.14%

Nasdaq

4638.90

+0.18%

S&P

2017.81

-0.01%

 
 

 

The Metals:

 

Gold dropped down to $1163.51 in Asia before it rebounded to $1173.43 in London, but it then fell back off in New York and ended with a loss of 0.47%.  Silver slipped to as low as $15.827 in Asia, but it then rose to as high as $16.232 in New York and ended at unchanged on the day.

 

Euro gold fell to about €934, platinum gained $3 to $1235, and copper climbed a penny to about $3.06.

 

Gold and silver equities waffled near unchanged for most of the morning before they rose to see about 3% gains in early afternoon trade and then chopped back lower at times, but they still ended near their highs of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

Oct

59.0

56.2

56.6

Construction Spending

Sep

-0.4%

0.7%

-0.5%

 

Tomorrow brings the Trade Balance and Factory Orders.

 

The Markets:

 

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

 

Oil fell and the U.S. dollar rose as the yen continued to fall in further reaction to Friday’s announcement by the Bank of Japan.

 

Treasuries saw slight losses as the Dow, Nasdaq, and S&P waffled near unchanged in relatively quiet trade.

 

Among the big names making news in the market today were Alibaba, HSBC, Publicis and Sapient, LabCorp and Covance, Nissan, and Honda.

 

GATA Posts:

 

 

Is that where all that gold going into China is coming from?

 

The Statistics:

Activity from: 10/31/2014

Gold Warehouse Stocks:

8,422,441.639

-

Silver Warehouse Stocks:

180,185,577.172

-319,770.54

 

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

741.201

23,830,355

US$27,813m

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$5,197m

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$419m

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: 161.33: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,711.23: +29.81 change from yesterday’s data.

 

The Miners:

 

Entree Gold’s (EGI) Feasibility Study results, Claude’s (CGR) third quarter results, AngloGold’s (AU) third quarter results, and Alexco’s (AXU) extension were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  AngloGold

AU +22.73% $10.12

2.  Tanzanian Royalty

TRX +8.80% $1.36

3.  Harmony

HMY +7.41%$1.74

 

LOSERS

1.  Almaden

AAU -4.24% $1.13

2.  Freeport

FCX -2.49% $27.79

3.  Nevsun

NSU -2.06% $3.32

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

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