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

 -- Published: Thursday, 6 November 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1143.50

+$1.10

Silver

$15.45

+$0.17

XAU

64.26

+4.28%

HUI

152.52

+3.90%

GDM

476.42

+3.71%

JSE Gold

981.98

+13.01

USD

88.08

+0.65

Euro

132.75

-1.10

Yen

86.85

-0.36

Oil

$78.01

-$0.67

10-Year

2.375%

+0.025

Bond

140.5625

-0.53125

Dow

17554.47

+0.40%

Nasdaq

4638.46

+0.38%

S&P

2031.21

+0.38%

 
 

 

The Metals:

 

Gold chopped around between $1142.22 and $1149.44 and ended with a gain of 0.1%.  Silver rose to as high as $15.465 and ended with a gain of 1.11%.

 

Euro gold rose to about €924, platinum lost $7 to $1193, and copper climbed a penny to about $3.01.

 

Gold and silver equities rose about 4% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

11/01

278K

285K

288K

Productivity

Q3

2.0%

1.5%

2.9%

Unit Labor Costs

Q3

0.3%

0.7%

-0.5%

 

Home Prices Rise in 73% of U.S. Metro Areas, Realtors Say  Bloomberg

 

Tomorrow brings October’s jobs data and Consumer Credit for September.

 

The Markets:

 

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

 

Oil fell after OPEC cut its demand outlook.

 

The U.S. dollar rose as the euro dropped after European Central Bank President Mario Draghi deepened his commitment to stimulus.

 

Treasuries saw slight losses as the Dow, Nasdaq, and S&P edged higher on Europe’s pledge to stimulate.

 

Among the big names making news in the market today were Allergan, Qualcomm, Pinnacle, Fannie Mae, Genworth, Plains, and DirecTV.

 

GATA Posts:

 

 

Gold market rigging drives mines out of business -- but without complaint

Seth Lipsky: Republicans should start by fixing the Fed

Lassonde reconsiders, admits BIS may be manipulating gold market

Dallas Fed president warns Republicans against making central bank account for itself

Koos Jansen: The mainstream media vs. gold

 

The Statistics:

Activity from: 11/05/2014

Gold Warehouse Stocks:

8,052,833.736

-3,139.719

Silver Warehouse Stocks:

180,247,417.063

-937,957.109

 

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

735.820

23,657,349

US$27,072m

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$5,085m

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$410m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.989 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 160.42: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,682.51: No change from yesterday’s data.

 

The Miners:

 

Richmont’s (RIC) third quarter results, Midway’s (MDW) construction progress, Primero’s (PPP) third quarter results, Banro’s (BAA) activities in the Democratic Republic of the Congo, Randgold’s (GOLD) third quarter results, and Silvercorp’s (SVM) renewed permit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  IAMGOLD

IAG +12.5% $1.71

2.  Richmont

RIC +11.62% $2.21

3.  Kinross

KGC +11.5% $2.21

 

LOSERS

1.  Turquoise

TRQ -5.40% $2.98

2.  Primero

PPP -2.84% $3.08

3.  Harmony

HMY -2.48% $1.56

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: Thursday, 6 November 2014 | E-Mail  | Print  | Source: GoldSeek.com

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