-- Published: Wednesday, 14 January 2015 | Print | Disqus
| Close | Gain/Loss |
Gold | $1228.00 | -$2.40 |
Silver | $16.83 | -$0.18 |
XAU | 72.44 | -2.70% |
HUI | 177.71 | -1.74% |
GDM | 554.11 | -1.76% |
JSE Gold | 1390.17 | -53.35 |
USD | 92.06 | -0.20 |
Euro | 117.89 | +0.14 |
Yen | 85.26 | +0.42 |
Oil | $48.48 | +$2.59 |
10-Year | 1.837% | -0.053 |
Bond | 149.09375 | +0.46875 |
Dow | 17427.09 | -1.06% |
Nasdaq | 4639.32 | -0.48% |
S&P | 2011.27 | -0.58% |
The Metals:
Gold dipped down to $1225.39 at about 5AM EST before it popped up to $1244.15 in the next four hours of trade, but it then drifted back lower into the close and ended with a loss of 0.2%. Silver slipped to $16.551 before it rebounded to $17.074, but it then chopped back lower in afternoon trade and ended with a loss of 1.06%.
Euro gold fell to about €1043, platinum lost $5 to $1229, and copper fell another 6 cents to about $2.55.
Gold and silver equities fell about 3% by early afternoon before they rallied back higher in the last hour of trade, but they still ended with about 2% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Import Prices | Dec | -2.5% | - | -1.8% |
Import Prices ex-oil | Dec | -0.1% | - | -0.3% |
Export Prices | Dec | -1.2% | - | -0.8% |
Export Prices ex-ag. | Dec | -1.2% | - | -1.0% |
Retail Sales | Dec | -0.9% | 0.1% | 0.1% |
Retail Sales ex-auto | Dec | -1.0% | 0.1% | 0.1% |
Business Inventories | Nov | 0.2% | 0.3% | 0.2% |
U.S. mortgage applications surge; 30-year rate below 4 percent: MBA Reuters
Fed Funds Rate Increase Path Expectations Tumble in Money Market Bloomberg
U.S. Holiday Sales Rose 4%, Just Shy of Projections, NRF Says Bloomberg
Tomorrow brings Initial Jobless Claims, PPI, Empire Manufacturing, and the Philadelphia Fed.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil turned notably higher in late trade despite the fact that the Energy Information Administration reported that crude inventories rose 5.4 million barrels, gasoline inventories rose 3.2 million barrels, and distillates rose 2.9 million barrels.
The U.S. dollar fell and treasuries rose on worse than expected economic data that sent the Dow, Nasdaq, and S&P about 1% lower.
Among the big names making news in the market today were Wells Fargo, JPMorgan, Tesla, Toyota, and GM.
The Commentary:
“First it was gold, then oil, and now the last shoe is finally dropping – copper.
The final nail in the coffin for all those mega bull commodity predictions was struck last night in Asia. Copper plunged to below $2.50 a pound.
Wouldn’t it be ironic that one of the best times to begin positioning one’s self in these commodities, would be while the many “Peak Oil” books are now in the “Bargain” counter at your local bookstore?
IMHO, gold has already turned, but oil and copper will need a significant period of base-building before a new bull market can be born out of the ashes of all the people burnt to a crisp by the great “failed” commodities boom that came and went with a “ton” of our capital.
While I’m out of the “prediction” game (If I wasn’t, the prediction I would end up in divorce would be very accurate), I do believe oil and copper are within 10% and/or 10 weeks of their ultimate bottom.” - Peter Grandich, http://moneytalks.net/peters-content.html
GATA Posts:
GATA reception follows Vancouver conference Jan. 19
Does gold production by marginal mines compare to 'production' by central banks?
The Statistics:
Activity from: 1/13/2015
Gold Warehouse Stocks: | 7,948,562.831 | - |
Silver Warehouse Stocks: | 173,928,559.094 | +565,243.77 |
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 | 707.821 | 22,757,138 | US$28,088m |
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$5,496m |
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$444m |
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: 162.62: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,201.29: No change from yesterday’s data.
The Miners:
AuRico Gold’s (AUQ) preliminary fourth quarter production results and received payment, Solitario’s (XPL) Reclamation Permits, Timberline’s (TLR) drill results, and Hecla’s (HL) preliminary production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +9.09% $1.15 |
2. Randgold | GOLD +1.56% $75.18 |
3. Rio Alto | RIOM +1.54% $2.64 |
LOSERS
1. Paramount | PZG -11.50% $1.08 |
2. Freeport | FCX-10.93%$18.74 |
3. Allied Nevada | ANV -10.00% $1.09 |
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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-- Published: Wednesday, 14 January 2015 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall With Stocks and Dollar
