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Gold Seeker Closing Report: Gold and Silver Fall Slightly as Stocks Rebound Late
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 2 February 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1274.60

-$9.70

Silver

$17.20

-$0.06

XAU

80.82

+1.22%

HUI

204.69

+1.27%

GDM

625.42

+1.32%

JSE Gold

1558.61

+45.27

USD

94.60

-0.17

Euro

113.39

+0.53

Yen

85.11

-0.03

Oil

$49.57

+$1.33

10-Year

1.673%

-0.002

Bond

150.65625

-0.625

Dow

17361.04

+1.14%

Nasdaq

4676.68

+0.89%

S&P

2020.85

+1.30%

 
 

 

The Metals:

 

Gold dropped $17.66 to $1266.64 by a little after 9AM EST, but it then rallied back higher for most of the rest of trade and ended a loss of just 0.76%.  Silver slipped to as low as $17.004 in London, but it then climbed to as high as $17.306 in New York and ended with a loss of just 0.35%.

 

Euro gold fell to about €11254, platinum lost $11 to $1224, and copper remained at about $2.50.

 

Gold and silver equities fell over 1% at the open, but they then chopped back higher for most of the rest of trade and ended with over 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PCE Prices – Core

Dec

0.0%

0.0%

0.0%

Personal Income

Dec

0.3%

0.3%

0.3%

Personal Spending

Dec

-0.3%

-0.2%

0.5%

ISM Index

Jan

53.5

54.7

55.1

Construction Spending

Dec

0.4%

0.8%

-0.2%

 

Obama proposes $3.99 trillion budget, sets up battle with Republicans  Reuters

U.S. to Reduce Debt Next Quarter After Borrowing Least Since ’07  Bloomberg

 

Tomorrow brings Factory Orders for December expected at -2.0%.

 

The Markets:

 

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

 

Oil added onto last Friday’s notable gains.

 

The U.S. dollar fell as currencies of oil exporters rose.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P waffled near unchanged for most of the day, but stocks then rallied higher into the close and ended with about 1% gains on hopes that the EU is working out a deal with Greece.

 

Greece says not in 'Wild West showdown' with Europe  Reuters

 

Among the big names making news in the market today were Lululemon, GM, and Exxon.

 

GATA Posts:

 

 

Has Swiss National Bank adopted a secret currency peg?

Chinese banks to join new gold fix in March

 

The Statistics:

Activity from: 1/29/2015

Gold Warehouse Stocks:

7,967,816.401

-192.90

Silver Warehouse Stocks:

178,118,430.734

+500,393.56

 

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

758.372

24,382,415

US$31,012m

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$5,655m

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$459m

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: 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:

 

Primero’s (PPP) President and Chief Operating Officer appointment, Randgold’s (GOLD) Ebola film and development of a third underground mine in Mali, Great Panther’s (GPL) correction, and Paramount’s (PZG) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Rubicon

RBY +6.94% $1.19

2.  Turquoise

TRQ +5.56% $3.04

3.  Eldorado

EGO +5.29% $5.18

 

LOSERS

1.  Allied Nevada

ANV -4.85% $0.98

2.  Comstock

LODE -4.63% $1.03

3.  Almaden

AAU -3.33% $1.16

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 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: Monday, 2 February 2015 | E-Mail  | Print  | Source: GoldSeek.com

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