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Gold Seeker Closing Report: Gold and Silver Fall While Stocks Extend Higher
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 8 January 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1207.30

-$5.00

Silver

$16.31

-$0.23

XAU

72.93

-1.73%

HUI

181.22

-2.03%

GDM

559.01

-1.70%

JSE Gold

1321.84

+28.69

USD

92.33

+0.32

Euro

117.94

-0.45

Yen

83.58

-0.30

Oil

$48.79

+$0.14

10-Year

2.016%

+0.062

Bond

146.9375

-1.25

Dow

17907.87

+1.84%

Nasdaq

4736.18

+1.84%

S&P

2062.14

+1.79%

 
 

 

The Metals:

 

Gold dropped $7.11 to $1205.19 at about 6:30AM EST before it bounced back to $1216.29 in the next three and a half hours of trade, but it then fell back off in afternoon trade and ended with a loss of 0.41%.  Silver slipped to as low as $16.307 and ended with a loss of 1.39%.

 

Euro gold remained at about €1024, platinum lost $2 to $1214, and copper remained at about $2.78.

 

Gold and silver equities saw slight gains for most of the morning, but they then fell back off into the close and ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

1/03

294K

290K

298K

Consumer Credit

Dec

$14.1B

$15.0B

$16.0B

 

U.S. Mortgage Rates Fall With 30-Year at a 19-Month Low  Bloomberg

 

Tomorrow brings December’s jobs data and Wholesale Inventories.

 

The Markets:

 

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

 

Oil edged higher as the market tried to steady from recent losses.

 

The U.S. dollar rose as the euro fell again on further expectation for more stimulus measures from the ECB.

 

Treasuries fell as the Dow, Nasdaq, and S&P jumped almost 2% higher on the outlook for continued easy monetary policy around the world.

 

Among the big names making news in the market today were GM, J.C. Penney, Herbalife, Coca-Cola, Biogen, Google, Family Dollar, and Barnes & Noble.

 

GATA Posts:

 

 

India not planning further curbs on gold imports, trade secretary says

How the Bank of England abandoned the gold standard: The metal simply ran out

 

The Statistics:

Activity from: 1/7/2015

Gold Warehouse Stocks:

7,948,562.831

-64.3

Silver Warehouse Stocks:

174,322,304.675

-1,206,599.487

 

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

704.833

22,661,089

US$27,529m

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$5,387m

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$433m

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 2.988 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.29: +2.39 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,216.18: No change from yesterday’s data.

 

The Miners:

 

Claude’s (CGR) 2014 production results and 2015 guidance, Centamin’s (CEE.TO) preliminary production results and 2015 guidance, and Tahoe’s (TAHO) dividend were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Almaden

AAU +11.0% $1.10

2.  Avino

ASM +5.11% $1.44

3.  Allied Nevada

ANV +4.05% $1.03

 

LOSERS

1.  New Gold

NGD -5.61% $4.54

2.  IAMGOLD

IAG -4.79% $2.98

3.  First Majestic

AG -4.52% $5.91

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 2015

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, 8 January 2015 | E-Mail  | Print  | Source: GoldSeek.com

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