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Gold Seeker Closing Report: Gold and Silver End Mixed While Stocks Surge Higher
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 17 December 2014 | Print  | Disqus 

 

 

Close

Gain/Loss

Gold

$1188.90

-$7.40

Silver

$15.77

+$0.03

XAU

66.57

+5.32%

HUI

159.25

+5.27%

GDM

495.22

+4.51%

JSE Gold

1063.93

-25.17

USD

89.04

+1.11

Euro

123.44

-1.67

Yen

84.27

-1.55

Oil

$56.47

+$0.54

10-Year

2.148%

+0.077

Bond

146.375

-0.84375

Dow

17356.87

+1.69%

Nasdaq

4644.31

+2.12%

S&P

2012.89

+2.04%

 
 

 

The Metals:

 

Gold edged up to $1202.23 in London before it fell to as low as $1184.89 after today’s fed statement, but it then bounced back higher in the last hour of trade and ended with a loss of just 0.62%.  Silver slipped to $15.623 in late morning New York trade before it jumped up to $16.016 after today’s fed statement, but it then fell back off into the close and ended with a gain of just 0.19%.

 

Euro gold rose to about €963, platinum lost $7.50 to $1187.50, and copper climbed a penny to about $2.88.

 

Gold and silver equities rose almost 6% after today’s fed statement before they fell back off at times, but they still ended with about 5% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Current Account Balance

Q3

-$100.3B

-$95.0B

-$98.4B

CPI

Nov

-0.3%

-0.1%

0.0%

Core CPI

Nov

0.1%

0.1%

0.2%

 

Fed says they can be ‘patient’ on rate hikes  MarketWatch

Fed confident in U.S. growth outlook, opens door wider to rate hike  Reuters

Fed Pledges Patience on Rates While Dropping ‘Considerable Time’  Bloomberg

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

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Economic Indicators.

 

The Markets:

 

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

 

Oil jumped as much as 5% higher after the Energy Information Administration reported that crude inventories fell 800,000 barrels, gasoline inventories rose 5.3 million barrels, and distillates fell 200,000 barrels, but it then pared its gains after today’s fed statement.

 

The U.S. dollar ultimately extended higher after today’s fed statement. 

 

Treasuries fell as the Dow, Nasdaq, and S&P added to their morning gains after today’s fed statement.

 

Among the big names making news in the market today were Chevron, Pimco, Sony, Philips and Volcano, and FedEx.

 

GATA Posts:

 

 

Pam Martens: Meet your newest legislator -- Citigroup

Traders betting Russia's next move will be to sell gold

 

The Statistics:

Activity from: 12/16/2014

Gold Warehouse Stocks:

7,942,174.878

+19,827.99

Silver Warehouse Stocks:

175,416,738.001

-150,628.88

 

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

721.564

23,199,017

US$27,731m

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$5,300m

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$429m

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 subtracted 1.793 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.44: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,606.57: No change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) completed sale, Turquoise Hill’s (TRQ) lawsuit dismissal, Nevsun’s (NSU) assay results, Lake Shore’s (LSG) credit repayment, Coeur’s (CDE) merger agreement with Paramount (PZG), and Fortuna’s (FSM) mill expansion were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  MAG Silver

MVG +14.17% $7.01

2.  Endeavour Silver

EXK +10.27% $2.04

3.  IAMGOLD

IAG +9.05% $2.41

 

LOSER

1.  Coeur

CDE -5.03% $4.34

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

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