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

 -- Published: Thursday, 11 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1225.10

-$2.30

Silver

$17.05

-$0.03

XAU

69.95

-1.48%

HUI

168.27

-1.29%

GDM

525.88

-1.32%

JSE Gold

1086.80

-59.44

USD

88.58

+0.33

Euro

123.94

-0.51

Yen

84.08

-0.70

Oil

$59.95

-$0.99

10-Year

2.178%

+0.009

Bond

145.40625

+0.03125

Dow

17596.34

+0.36%

Nasdaq

4708.16

+0.52%

S&P

2035.33

+0.45%

 
 

 

The Metals:

 

Gold dropped down to $1216.21 at about 10AM EST before it jumped up to $1231.95 by early afternoon in New York, but it then fell back off into the close and ended with a loss of 0.19%.  Silver slipped to as low as $16.931 and ended with a loss of 0.18%.

 

Euro gold rose to about €989, platinum lost $5 to $1235, and copper climbed a couple of cents to about $2.92.

 

Gold and silver equities fell about 2% at the open before they rose to see slight gains by late morning, but they then fell back off into the close and ended with over 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

12/06

294K

295K

297K

Retail Sales

Nov

0.7%

0.4%

0.5%

Retail Sales ex-auto

Nov

0.5%

0.2%

0.4%

Export Prices

Nov

-1.0%

-

-0.9%

Export Prices ex-ag.

Nov

-1.2%

-

-0.8%

Import Prices

Nov

-1.5%

-

-1.2%

Import Prices ex-oil

Nov

-0.2%

-

-0.2%

Business Inventories

Oct

0.2%

0.2%

0.3%

 

Tomorrow brings PPI and Michigan Sentiment.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar rose on better than expected economic data.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P erased the majority of their morning gains after worries about the oil market offset optimism over economic data.

 

Among the big names making news in the market today were Ford, MetLife, Sony, and RadioShack.

 

GATA Posts:

 

 

Yeah, sure, FT: 'Governor Mark Carney sweeps aside secrecy at Bank of England'

Zero Hedge: Deutsche, Barclays algos busted for FX rigging

Travelogue from London and Munich

 

The Statistics:

Activity from: 12/10/2014

Gold Warehouse Stocks:

7,905,668.358

-

Silver Warehouse Stocks:

176,939,439.633

+734,916.97

 

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

724.799

23,303,017

US$28,326m

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$5,446m

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$440m

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 2.988 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.37: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,648.28: -89.38 change from yesterday’s data.

 

The Miners:

 

Taseko’s (TGB) hedging program and B2Gold’s (BTG) first gold pour were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Fields

GFI +2.76% $4.46

2.  IAMGOLD

IAG +2.01% $2.51

3.  McEwen

MUX +1.35% $1.16

 

LOSERS

1.  Sandstorm

SAND-7.01% $3.05

2.  Primero

PPP -6.60% $3.96

3.  DRDGOLD

DRD -5.73% $1.81

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: Thursday, 11 December 2014 | E-Mail  | Print  | Source: GoldSeek.com

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