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Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 8 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1205.00

+$13.60

Silver

$16.38

+$0.09

XAU

70.18

+0.04%

HUI

167.41

+0.85%

GDM

523.14

+0.48%

JSE Gold

1066.23

+1.29

USD

89.15

-0.20

Euro

123.11

+0.28

Yen

82.84

+0.53

Oil

$63.05

-$2.79

10-Year

2.257%

-0.050

Bond

144.00

+1.03125

Dow

17852.48

-0.59%

Nasdaq

4740.69

-0.84%

S&P

2060.31

-0.73%

 
 

 

The Metals:

 

Gold bumped up to $1197.94 by a little after 9AM EST before it fell back to unchanged at $1191.40 in the next couple of hours of trade, but jumped to a new session high of $1208.85 in early afternoon trade and ended with a gain of 1.14%.  Silver surged to as high as $16.423 and ended with a gain of 0.55%.

 

Euro gold rose to about €979, platinum gained $10 to $1231, and copper fell slightly to about $2.90.

 

Gold and silver equities fell nearly 3% by late morning, but they then rallied back higher in early afternoon trade and ended with modest gains.

 

The Economy:

 

Fed's Lockhart sticks with 2015 liftoff, though low inflation a concern  Reuters

U.S. inflation expectations remain flat, NY Fed survey finds  Reuters

Average Federal Spending Per Household Nearly $30K  dailysignal

U.S. Spending Plan Said to Be Almost Ready for Release Tonight  Bloomberg

 

Tomorrow brings Wholesale Inventories for October expected at 0.2%.

 

The Markets:

 

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

 

Oil dropped again on the outlook for ample supplies.

 

The U.S. dollar fell as the euro and yen bounced back from last week’s losses.

 

Treasuries rose as the Dow, Nasdaq, and S&P traded as much as 1% lower on disappointing economic data out of China and Japan.

 

Among the big names making news in the market today were EBay, McDonald’s, Merck, and Blackstone.

 

GATA Posts:

 

 

RT's 'Keiser Report' interviews GATA secretary about gold price suppression

Currency ties key to dollar reserve hegemony, BIS study says

Alex Stanczyk: There is no such thing as a gold shortage

Gold lending rates roar back after jobs data

Koos Jansen: Belgium's central bank considers repatriating gold

 

The Statistics:

Activity from: 12/5/2014

Gold Warehouse Stocks:

7,903,703.588

+176,082.051

Silver Warehouse Stocks:

177,169,841.835

-463,693.742

 

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

720.914

23,178,113

US$27,636m

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$5,297m

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$432m

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 0.896 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.79: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,737.66: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) financing and Kirkland’s (KGI.TO) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sandstorm

SAND +4.58% $2.97

2.  DRDGOLD

DRD +4.37% $1.91

3.  New Gold

NGD +3.25% $4.40

 

LOSERS

1.  SilverCrest

SVLC -5.34% $1.24

2.  Gold Resource

GORO-4.70% $3.45

3.  Almaden

AAU -3.81% $1.01

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: Monday, 8 December 2014 | E-Mail  | Print  | Source: GoldSeek.com

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