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Gold Seeker Closing Report: Gold Gains 1% While Sliver Slips
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 3 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1210.50

+$12.20

Silver

$16.42

-$0.03

XAU

73.06

+3.40%

HUI

174.78

+2.79%

GDM

543.53

+2.81%

JSE Gold

1092.10

+28.93

USD

88.95

+0.34

Euro

123.09

-0.73

Yen

83.47

-0.40

Oil

$67.36

+$0.48

10-Year

2.287%

+0.002

Bond

142.71875

+0.1875

Dow

17912.62

+0.18%

Nasdaq

4774.47

+0.39%

S&P

2074.33

+0.38%

 
 

 

The Metals:

 

Gold climbed $10.01 to $1208.31 in late Asian trade before it fell back to nearly unchanged at about 7AM EST, but it then rose to a new session high of $1213.83 in New York and ended with a gain of 1.02%.  Silver edged up to $16.569 at one point, but it then chopped back lower at times and ended with a loss of 0.18%.

 

Euro gold rose to about €983, platinum gained $9 to $1223, and copper fell a couple of cents to about $2.88.

 

Gold and silver equities rose about 3% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Nov

208K

225K

233K

Productivity

Q3

2.3%

2.4%

2.0%

Unit Labor Costs

Q3

-1.0%

0.0%

0.3%

ISM Services

Nov

59.3

57.5

57.1

 

U.S. mortgage applications fall in latest week: MBA  Reuters

Fed Beige Book Shows ‘Widespread’ Job Gains Across U.S.  Bloomberg

 

Tomorrow brings Initial Jobless Claims expected at 295,000.

 

The Markets:

 

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

 

Oil found slight gains after the Energy Information Administration reported that crude supplies fell 3.7 million barrels, gasoline inventories rose 2.1 million barrels, and distillates rose 3 million barrels.

 

The U.S. dollar continued to rise as the euro fell ahead of tomorrow’s ECB meeting.

 

Treasuries held near unchanged on mixed economic data.

 

The Dow, Nasdaq, and S&P traded mostly slightly higher ahead of this week’s jobs report.

 

Among the big names making news in the market today were Allstate, Apple, and Sony.

 

GATA Posts:

 

 

Pam Martens: JPMorgan rushed to hire trader who advertised market-rigging ability

Judge in Liberty Dollar case orders some metal forfeited and some returned

Shanghai gold trade passes record as China seeks more sway

 

The Statistics:

Activity from: 12/2/2014

Gold Warehouse Stocks:

7,918,760.687

+27,475.275

Silver Warehouse Stocks:

176,763,304.467

-1,212,019.21

 

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

720.018

23,149,288

US$27,875m

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$5,372m

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$434m

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 added 2.391 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.77: -0.03 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,806.20: -84.94 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) investment in Guatemala, Barrick’s (ABX) joint venture agreement with Saudi Arabian Mining Company Ma'aden, SEMAFO’s (SMF.TO) resumed operations, and Randgold’s (GOLD) comments on stakeholders were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sandstorm

SAND +10.18% $3.03

2.  IAMGOLD

IAG +8.11% $2.40

3.  NovaGold

NG +7.27% $2.89

 

LOSERS

1.  Turquoise

TRQ -3.07% $3.16

2.  Rubicon

RBY -1.96% $1.05

3.  Harmony

HMY -1.69% $1.82

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

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