-- Published: Thursday, 12 February 2015 | Print | Disqus
| Close | Gain/Loss |
Gold | $1222.00 | +$2.30 |
Silver | $16.86 | +$0.07 |
XAU | 76.53 | +1.46% |
HUI | 190.36 | +0.98% |
GDM | 586.89 | +1.03% |
JSE Gold | 1490.04 | -50.03 |
USD | 94.12 | -0.90 |
Euro | 114.07 | +0.63 |
Yen | 84.08 | +1.01 |
Oil | $51.21 | +$2.37 |
10-Year | 1.986% | -0.002 |
Bond | 146.625 | -0.28125 |
Dow | 17972.38 | +0.62% |
Nasdaq | 4857.61 | +1.18% |
S&P | 2088.48 | +0.96% |
The Metals:
Gold jumped up to $1229.51 in late Asian trade before it chopped back down to $1219.91 by early afternoon in New York, but it then bounced back higher in the last few hours of trade and ended with a gain of 0.19%. Silver rose to as high as $16.988 and ended with a gain of 0.42%.
Euro gold fell to about €1071, platinum gained $5 to $1196, and copper climbed 6 cents to about $2.60.
Gold and silver equities rose over 1% in the first 20 minutes of trade before they fell to see slight losses at times, but they then edged back higher in late trade and ended near their early highs.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 2/07 | 304K | 285K | 279K |
Retail Sales | Jan | -0.8% | -0.4% | -0.9% |
Retail Sales ex-auto | Jan | -0.9% | -0.4% | -0.9% |
Business Inventories | Dec | 0.1% | 0.2% | 0.2% |
Tomorrow brings Export and Import Prices and Michigan Sentiment.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose almost 5% as the U.S. dollar fell markedly on worse than expected economic data that sent treasuries higher, but bonds then fell back off into the close as the Dow, Nasdaq, and S&P rose on optimism about a ceasefire between Russian separatists and Ukrainian forces.
Among the big names making news in the market today were TripAdvisor, Expedia, Tesla, GM, and Time.
The Commentary:
“While much of the western world bankers keep pushing on a string, economic slowdown becomes more widespread. Here in the U.S., the “Don’t Worry, Be Happy” crowd on Wall Street continues to speak about economic expansion when the only thing expanding is their avoidance of economic reality.
U.S. Stock Market – I continue to believe major swings up and down almost daily, is a signal the great bull-run is coming to an end. All sorts of fundamental and technical analogies say so. It may be a few weeks or even a few months before the ultimate top, but leaving the punch bowl now and hailing a cab is as good as time as any.
U.S. Bonds – Continue to avoid High-Yield (Junk) bonds like the plague. Treasuries may be the lesser of two evils versus equities, but ownership of neither is better IMHO than heavy ownership of both.
U.S. Dollar – While more players appear ahead in the race to debase their currencies, the appearance of victory for Uncle Sam shall in fact be dearly paid for down the road.
Gold - $1,300 has proven indeed to be key resistance. The gold cartel (whose headquarters is the Comex) have been all over the short side the last couple of weeks. I’m not going to debate their existence; as anyone who watches daily trading sees the sudden, unexplained sudden falls and knows it’s no accident or coincidence.
But whether manipulated or not, the fact is, much of the technical gains made from the start of the New Year have been damaged (and if history is any indication, it shall be a process to overcome them and get back to challenging $1,300).” - Peter Grandich, http://moneytalks.net/peters-content.html
GATA Posts:
India smugglers, and their bodies, take a break from gold
Central banks are boosting their gold reserves
The Statistics:
Activity from: 2/11/2015
Gold Warehouse Stocks: | 8,231,960.001 | +40,126.87 |
Silver Warehouse Stocks: | 175,564,435.435 | -643,602.37 |
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 | 773.305 | 24,862,530 | US$30,377m |
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$5,441m |
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$439m |
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: 167.75: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,963.31: No change from yesterday’s data.
The Miners:
Primero’s (PPP) fourth quarter results, Timmins Gold’s (TGD) drill results, Gold Fields’ (GFI) quarterly results, Coeur’s (CDE) repurchased notes, and Hecla’s (HL) reserves were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Richmont | RIC +7.30% $3.38 |
2. Agnico Eagle | AEM +5.65% $32.51 |
3. Freeport | FCX +4.89% $19.47 |
LOSERS
1. Gold Fields | GFI -7.59% $5.04 |
2. DRDGOLD | DRD -3.98% $2.17 |
3. IAMGOLD | IAG -2.95% $2.31 |
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: Thursday, 12 February 2015 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain With Stocks and Oil
