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

 -- Published: Thursday, 18 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1198.10

+$9.20

Silver

$15.91

+$0.14

XAU

69.42

+4.45%

HUI

167.12

+5.26%

GDM

517.45

+4.60%

JSE Gold

1122.97

+59.04

USD

89.22

+0.18

Euro

122.84

-0.59

Yen

84.18

-0.03

Oil

$54.11

-$2.36

10-Year

2.204%

+0.056

Bond

145.03125

-1.125

Dow

17778.15

+2.43%

Nasdaq

4748.39

+2.24%

S&P

2061.23

+2.40%

 
 

 

The Metals:

 

Gold jumped up to $1213.47 at about 5:30AM EST before it fell back towards unchanged by late morning in New York, but it then edged back higher in afternoon trade and ended with a gain of 0.77%.  Silver surged to as high as $16.222 and ended with a gain of 0.89%.

 

Euro gold rose to about €975, platinum gained $9.50 to $1197, and copper fell a couple of cents to about $2.86.

 

Gold and silver equities rose over 3% at the open before they pared their gains in midmorning trade, but they then rallied to new highs into the close and ended with about 5% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

12/13

289K

292K

295K

Philadelphia Fed

Dec

24.5

26.0

40.8

Leading Indicators

Nov

0.6%

0.5%

0.6%

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil erased early gains and ended over 4% lower on word that Saudi Arabia will maintain current output levels.

 

The U.S. dollar rose as the Swiss Franc fell after Switzerland introduced negative interest rates.

 

Treasuries fell as the Dow, Nasdaq, and S&P continued to rise in reaction to yesterday’s fed statement.

 

Among the big names making news in the market today were Ford, Mercedes, and Amazon.

 

GATA Posts:

 

 

Bankers see $1 trillion of investments stranded in the oil fields

Switzerland imposes negative interest rates to keep franc from rising

 

The Statistics:

Activity from: 12/17/2014

Gold Warehouse Stocks:

7,943,308.658

+1,133.78

Silver Warehouse Stocks:

175,433,480.289

+16,742.288

 

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$27,807m

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$5,311m

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: No change in Total Tonnes from yesterday’s data.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,544.01: -62.56 change from yesterday’s data.

 

The Miners:

 

Barrick’s plans to suspend operations at the Lumwana copper mine, Comstock’s (LODE) exploration and development drilling program, International Tower Hill’s (THM) management change, Claude’s (CGR) new Chair of the Board, Lake Shore’s (LSG) guidance for 2015, Silvercorp’s (SVM) CEO appointment, and Pan American’s (PAAS) normal course issuer bid were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Rubicon

RBY +19.32% $1.05

2.  Sandstorm

SAND +12.24% $3.21

3.  Richmont

RIC +10.75% $3.09

 

LOSERS

1.  Turquoise

TRQ -1.39% $2.84

2.  Gold Resource

GORO-0.59% $2.96

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

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