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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 24 February 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1200.20

-$1.90

Silver

$16.25

-$0.07

XAU

74.00

-0.31%

HUI

184.12

-0.52%

GDM

567.87

-0.37%

JSE Gold

1332.17

-2.56

USD

94.45

-0.13

Euro

113.45

+0.10

Yen

84.12

-0.04

Oil

$49.28

-$0.17

10-Year

1.988%

-0.071

Bond

146.1875

+0.84375

Dow

18209.19

+0.51%

Nasdaq

4968.12

+0.14%

S&P

2115.48

+0.28%

 
 

The Metals:

 

Gold dropped $10.35 to $1191.75 by a little after 10AM EST before it bounced back to $1202.64 in the next 40 minutes of trade and then fell back off again into midday, but it then rallied back higher in afternoon trade and ended with a loss of just 0.16%.  Silver slipped to as low as $16.137 in late morning New York trade, but it then climbed back higher in the last 4 hours of the day and ended with a loss of just 0.43%.

 

Euro gold fell to about €1058, platinum remained at $1160, and copper climbed 5 cents to about $2.64.

 

Gold and silver equities fell about 1% at the open before they rose to see slight gains by late morning, but they then edged back lower into midday and ended with modest losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Dec

4.5%

4.3%

4.3%

Consumer Confidence

Feb

96.4

99.6

103.8

 

Yellen Signals Fed to Be Flexible After Guidance Changes  Bloomberg

Fed's Yellen describes transition to 'meeting by meeting' debate on rate hike  Reuters

U.S. services sector activity jumps in February: Markit  Reuters

 

Tomorrow brings New Home Sales for January expected at 470,000.

 

The Markets:

 

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

 

Oil rose in early trade “on news that production had stopped at Libya's largest oilfield,” but it then fell back off in late trade and ended slightly lower ahead of tomorrow’s supply data.

 

The U.S. dollar edged lower and treasuries climbed higher after Yellen’s testimony did not increase expectations for the timing of the fed’s interest rate hike.

 

The Dow, Nasdaq, and S&P traded mostly slightly higher on relative calm in Europe.

 

Among the big names making news in the market today were Bank of Montreal, Home Depot, and JPMorgan.

 

GATA Posts:

 

 

Big banks face scrutiny over pricing of metals

 

The Statistics:

Activity from: 2/23/2015

Gold Warehouse Stocks:

8,273,103.742

+514.40

Silver Warehouse Stocks:

176,391,157.660

+866,068.90

 

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

771.249

24,796,426

US$29,558m

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$5,304m

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$430m

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: 166.88: -1.05 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,131.48: +44.64 change from yesterday’s data.

 

The Miners:

 

Lake Shore’s (LSG) drill results, Turquoise Hill’s (TRQ) sale of its remaining stake in SouthGobi Resources Ltd., and SEMAFO’s (SMF.TO) up and running mill were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  MAG Silver

MVG +8.55% $6.98

2.  First Majestic

AG +5.93% $5.72

3.  Freeport

FCX +3.06% $21.22

 

LOSERS

1.  Coeur

CDE -5.02% $5.49

2.  IAMGOLD

IAG -4.20% $2.28

3.  Hecla

HL -2.40% $3.26

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

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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: Tuesday, 24 February 2015 | E-Mail  | Print  | Source: GoldSeek.com

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