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Gold Seeker Closing Report: Gold Dips and Silver Slips
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 2 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1198.30

-$14.30

Silver

$16.45

-$0.02

XAU

70.66

-3.35%

HUI

170.04

-3.21%

GDM

528.61

-2.51%

JSE Gold

1063.17

+16.80

USD

88.61

+0.62

Euro

123.82

-0.89

Yen

83.88

-0.63

Oil

$66.88

-$2.12

10-Year

2.285%

+0.067

Bond

142.59375

-0.9375

Dow

17879.55

+0.58%

Nasdaq

4755.81

+0.60%

S&P

2066.55

+0.64%

 
 

 

The Metals:

 

Gold dropped $20 to $1192.60 in late Asian trade before it bounced back higher in London and New York, but it still ended with a loss of 1.18%.  Silver slipped to as low as $16.084 and ended with a loss of 0.12%.

 

Euro gold fell to about €968, platinum lost $23 to $1214, and copper fell a few cents to about $2.90.

 

Gold and silver equities dipped about 3% at the open before they rallied back to about unchanged by midmorning, but they then fell back off again in afternoon trade and ended near their early session lows.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Construction Spending

Oct

1.1%

0.6%

-0.1%

 

Cyber Monday Slowdown as Consumers Stretch Out Shopping  Bloomberg

Fischer, Dudley See Oil Slump Spurring U.S. Consumers to Spend  Bloomberg

 

Tomorrow brings ADP Employment, Productivity, Unit Labor Costs, ISM Services, and the fed’s Beige Book.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar jumped to a 5-year high on the outlook for a relatively strong US economy that sent treasuries lower and the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Aviva, Fiat Chrysler, Otuska, Apple, Sprint, and Blackstone.

 

GATA Posts:

 

 

India's central bank trades foreign currency futures

Fed leak tipped traders to historic stimulus move, prompted secret inquiry

Seth Lipsky on Liberty Dollar founder: A monetary gadfly in an age of fiat money

Hugo Salinas Price: A silver coin that is money to calm the national tantrum in Mexico

 

The Statistics:

Activity from: 12/1/2014

Gold Warehouse Stocks:

7,891,285.412

+3,182.85

Silver Warehouse Stocks:

177,975,323.677

-15,397.79

 

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$27,558m

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$5,330m

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$430m

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: 161.80: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,891.14: +68.54 change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) extended closing date, Centerra’s (CG.TO) possible deal with Kyrgyzstan, and Santacruz Silver’s (SCZ.V) third quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  B2Gold

BTG +5.75% $1.84

2.  Avino

ASM+5.38% $1.37

3.  Turquoise

TRQ +4.82% $3.26

 

LOSERS

1.  DRDGOLD

DRD -11.57% $1.91

2.  Sandstorm

SAND-10.33% $2.75

3.  McEwen

MUX -8.67% $1.37

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: Tuesday, 2 December 2014 | E-Mail  | Print  | Source: GoldSeek.com

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