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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 12 November 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1160.10

-$5.70

Silver

$15.67

-$0.07

XAU

67.71

-0.24%

HUI

160.63

+0.08%

GDM

503.66

+0.14%

JSE Gold

1028.15

+12.03

USD

87.82

+0.28

Euro

124.35

-0.36

Yen

86.52

+0.17

Oil

$81.24

-$0.51

10-Year

2.359%

-0.001

Bond

140.96875

+0.25

Dow

17612.20

-0.02%

Nasdaq

4675.13

+0.31%

S&P

2038.25

-0.07%

 
 

 

The Metals:

 

Gold bounced between $1161.42 and $1169.72 in London before it dropped down to $1157.45 in early afternoon New York trade and then edged back higher in late trade, but it still ended with a loss of 0.49%.  Silver slipped to as low as $15.569 and ended with a loss of 0.45%.

 

Euro gold fell to about €933, platinum lost $4 to $1198, and copper remained at about $3.03.

 

Gold and silver equities rose about 1% in the first hour of trade before they fell to see about 1% losses by late morning, but they then rallied back higher in late trade and ended near unchanged on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Sep

0.3%

0.2%

0.6%

 

Fed's Plosser says strong dollar no big risk to inflation  Reuters

Banks to Pay $3.3 Billion in FX-Manipulation Probe  Bloomberg

 

Tomorrow brings Initial Jobless Claims and the Treasury Budget.

 

The Markets:

 

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

 

Oil fell “after Saudi Arabia's Oil Minister said the kingdom will not engage in a price war.”

 

The U.S. dollar rose as the “pound slouched toward recent 14-month lows against the dollar as investors pushed back rate-hike expectations to the fourth quarter of 2015 after the Bank of England's inflation report on Wednesday.”

 

Treasuries edged higher as the Dow, Nasdaq, and S&P traded mixed in relatively quiet trade.

 

Among the big names making news in the market today were Toyota, Yahoo, BB&T and Susquehanna, Macy’s, Cathay Financial, and Dow Chemical.

 

GATA Posts:

 

 

Would you die on your feet or your knees -- or even win?

IAMGold lays off 40% of management and quits World Gold Council

Swiss regulator says UBS tried to manipulate monetary metals fixes

Fines bring bank currency-rigging settlement to $4.3 billion

Gold to find solace from negative lending rate

 

The Statistics:

Activity from: 11/11/2014

Gold Warehouse Stocks:

8,200,791.346

-3,225.05

Silver Warehouse Stocks:

179,442,600.858

-185,515.53

 

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

724.460

23,292,126

US$27,106m

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$5,165m

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$416m

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 0.897 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,727.23: No change from yesterday’s data.

 

The Miners:

 

Exeter’s (XRA) metallurgical heap leach results, Kirkland’s (KGI.TO) second quarter operational results, Centamin’s (CEE.TO) third quarter results, Barrick’s (ABX) Pascua Lama gold mine, Polyus Gold’s (PGIL.L) credit line, Silver Wheaton’s (SLW) dividend and third quarter results, and First Majestic’s (AG) third quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Turquoise

TRQ +5.64% $3.56

2.  Harmony

HMY +4.40% $1.66

3.  Avino

ASM +3.17% $1.30

 

LOSERS

1.  Sandstorm

SAND -10.31% $2.62

2.  Gold Resource

GORO -5.96% $3.63

3.  Endeavour Silver

EXK -5.63% $2.68

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

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