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Gold Seeker Closing Report: Gold and Silver End Near Unchanged in Quiet Trade
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 24 December 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1174.20

-$0.40

Silver

$15.74

+$0.04

XAU

66.96

+2.70%

HUI

157.36

+2.93%

GDM

492.41

+2.50%

JSE Gold

1064.55

-17.07

USD

89.96

-0.15

Euro

121.91

+0.17

Yen

83.02

+0.17

Oil

$55.48

-$1.64

10-Year

2.264%

+0.007

Bond

143.125

+0.25

Dow

18030.21

+0.03%

Nasdaq

4773.47

+0.17%

S&P

2081.88

-0.01%

 
 

 

The Metals:

 

Gold gained $6.43 to $1181.03 by a little after 4AM EST before it fell back to $1172.97 at about 9:45, but it then bounced back higher into the close and ended with a loss of just 0.03%.  Silver edged up to $15.863 before it fell back to $15.682, but it still ended with a gain of 0.26%.

 

Euro gold fell to about €964, platinum lost $2 to $1187, and copper fell slightly to about $2.87.

 

Gold and silver equities rose in choppy trade and ended with almost 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

12/20

280K

290K

289K

 

The Fed is heading for another catastrophe  MarketWatch

U.S. mortgage applications rose last week: MBA  Reuters

 

Markets are closed tomorrow in observance of Christmas Day.

 

The Markets:

 

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

 

Oil remained lower after the Energy Information Administration reported that crude inventories rose 7.3 million barrels.

 

The U.S. dollar edged down on profit taking.

 

Treasuries traded mixed after today’s $29 billion 7-year note auction sold at a yield of 2.125% with a bid to cover of 2.39.

 

The Dow, Nasdaq, and S&P mostly edged higher in holiday thinned trade.

 

Among the big names making news in the market today were Walmart, Lone Star, Takata, and Smith & Nephew.

 

GATA Posts:

 

 

Assets in biggest gold bullion ETF tumble most since last year

Deutsche Bank open to offers for London gold vault, sources tell Reuters

Patrick Heller: Eagles aren't the best way to own silver

New York Sun: Kaboom?

 

The Statistics:

Activity from: 12/22/2014

Gold Warehouse Stocks:

7,961,279.881

+21,379.75

Silver Warehouse Stocks:

175,296,702.586

-25,001.20

 

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

712.900

22,920,435

US$26,966m

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$5,225m

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$421m

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 11.652 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.35: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,335.49: -181.71 change from yesterday’s data.

 

The Miners:

 

Freeport’s (FCX) successful production test and Timmins Gold’s (TGD) completed acquisition were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sandstorm

SAND +12.23% $3.19

2.  Richmont

RIC +6.51% $2.97

3.  Coeur

CDE +6.46% $5.11

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

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