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Gold Seeker Closing Report: Gold and Silver Gain Almost 4% and 7%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 1 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1212.60

+$45.60

Silver

$16.47

+$1.03

XAU

73.11 

+6.90%

HUI

 175.68

+7.92%

GDM

 542.38

+6.15%

JSE Gold

1046.37

-20.21

USD

87.99

-0.30

Euro

124.72

+0.27

Yen

84.49

+0.21

Oil

$69.00

+$2.85

10-Year

2.218%

+0.024

Bond

143.50

-0.5625

Dow

 17776.80

-0.29%

Nasdaq

 4727.34

-1.34%

S&P

 2053.44

-0.68%

 

The Metals:

 

Gold dropped $24.17 to $1142.83 at the open of trade last night, but it then climbed back higher throughout most of the rest of trade and ended near its early afternoon high of $1220.22 with a gain of 3.91%.  Silver slipped to as low as $14.436 at one point, but it then rose to as high as $16.75 and ended with a gain of 6.67%.

 

Euro gold rose to about €972, platinum gained $39 to $1237, and copper climbed 6 cents to about $2.93.

 

Gold and silver equities climbed about 4% in the first fifteen minutes of trade before they pared back a bit midmorning, but they then climbed to new highs in afternoon action and ended with about 7% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

Nov

58.7

58.0

59.0

 

Black Friday Fizzles With Consumers as Sales Tumble 11%  Bloomberg

Fed rattled by elusive inflation, but loath to sound alarm yet  Reuters

 

Tomorrow at 10AM EST brings Construction Spending for October expected at 0.6%.

 

The Markets:

 

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

 

Oil bounced back from last week’s 5-year lows on worries about shale output.

 

The U.S. dollar dropped on profit taking.

 

Treasuries saw slight losses on better than expected economic data.

 

The Dow, Nasdaq, and S&P fell on disappointing retail sales reports.

 

Among the big names making news in the market today were IBM, Berkshire Hathaway, and Sony.

 

GATA Posts:

 

 

CNBC Europe interviews GATA secretary and Hinde Capital's Davies

Bron Suchecki: How historic is this negative GOFO?

Avery Goodman: India is back and that's more important to gold than Swiss vote

Zero Hedge: Biggest monthly withdrawal of custodial gold from NY Fed since 2001

 

The Statistics:

Activity from: 11/28/2014

Gold Warehouse Stocks:

7,888,102.562

-40,600.00

Silver Warehouse Stocks:

177,990,721.467

+982,620.74

 

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

717.627

23,072,418

US$27,535m

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$5,345m

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$435m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.80.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,822.60.

 

The Miners:

 

Goldcorp’s (GG) dividend, Midway’s (MDW) project finance facility, Rio Alto’s (RIOM) project capex estimate, Aurcana’s (AUN.V) third quarter results, First Majestic’s (AG) appeal dismissal, and Santacruz Silver’s (SCZ.V) amended Pre-paid Silver Purchase Agreement were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Allied Nevada

ANV +18.49% $1.73

2.  Buenaventura

BVN +13.84% $10.53

3.  New Gold

NGD +13.72% $4.56

 

LOSERS

1.  Tahoe

TAHO-9.14% $14.51

2.  Comstock

LODE -9.09% $1.00

3.  Avino

ASM -7.80% $1.30

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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© 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, 1 December 2014 | E-Mail  | Print  | Source: GoldSeek.com

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