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Gold Seeker Closing Report: Gold and Silver Fall With Stocks and Oil
By: Chris Mullen,

 -- Published: Wednesday, 28 January 2015 | Print  | Disqus 



















JSE Gold
































The Metals:


Gold dipped $8.60 to $1286.10 in late Asian trade before it bounced back to $1292.82 in London and then dropped to a new session low of $1280.35 about 20 minutes after the release of today’s fed statement, but it then chopped back higher into the close and ended with a loss of just 0.76%.  Silver slipped to $17.931 in Asia, but it then rose to as high as $18.14 in New York and ended with a loss of just 0.55%.


Euro gold remained at about €1138, platinum lost $8 to $1252, and copper remained at about $2.46.


Gold and silver equities saw about 1% losses for most of the morning, but they then fell back off into the close and ended with about 4% losses.


The Economy:


Text of the FOMC statement on interest rates  MarketWatch

Fed keeps patient approach to hiking rates despite global turmoil  Reuters

Fed Stays Patient on Rates Amid Strong Job Gains, Low Inflation  Bloomberg

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


Tomorrow brings Initial Jobless Claims and Pending Home Sales.


The Markets:


Charts Courtesy of


Oil fell almost 4% after the Energy Information Administration reported that crude inventories rose 8.9 million barrels, gasoline inventories fell 2.6 million barrels, and distillates fell 3.9 million barrels.


The U.S. dollar and treasuries curiously both extended higher after the fed announced they will remain patient with regards to raising interest rates.


The Dow, Nasdaq, and S&P turned ultimately turned markedly lower after today’s fed statement.


Among the big names making news in the market today were Shell, Boeing, FXCM, Fiat Chrysler, CommScope, Yahoo, Hess, General Dynamics, and Apple


GATA Posts:



Singapore becomes ninth country to weaken currency this month

German regulator sees only scattered, individual efforts to manipulate gold price

JPMorgan said to reap up to $300 million amid Swiss turmoil

TF Metals Report: Inherent unfairness in the gold futures market


The Statistics:

Activity from: 1/27/2015

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




Note: Change in Total Tonnes from yesterday’s data: SPDR added 9.259 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.54: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 9,931.80: No change from yesterday’s data.


The Miners:


Almaden’s (AAU) award and Fresnillo’s (FRES.LN) fourth quarter silver production were among the big stories in the gold and silver mining industry making headlines today.



1.  Almaden

AAU +0.83% $1.21

2.  Avino

ASM +0.64% $1.57



1.  Allied Nevada

ANV -9.92% $1.09

2.  Silver Standard

SSRI -9.16% $6.25

3.  Primero

PPP -9.07% $4.01

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 2015

Note: This article may be reproduced provided the article, in full, is used and mention to 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. 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’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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