-- Published: Thursday, 26 February 2015 | Print | Disqus
| Close | Gain/Loss |
Gold | $1208.40 | +$3.80 |
Silver | $16.54 | UNCH |
XAU | 76.16 | +1.02% |
HUI | 190.08 | +1.47% |
GDM | 584.54 | +1.08% |
JSE Gold | 1357.11 | +24.52 |
USD | 95.30 | +1.11 |
Euro | 111.96 | -1.68 |
Yen | 83.72 | -0.43 |
Oil | $48.17 | -$2.82 |
10-Year | 2.016% | +0.047 |
Bond | 146.5625 | -0.3125 |
Dow | 18214.42 | -0.06% |
Nasdaq | 4987.88 | +0.42% |
S&P | 2110.74 | -0.15% |
The Metals:
Gold climbed $15.32 to $1219.92 in London before it fell back off in New York, but it still ended with a gain of 0.32%. Silver rose to as high as $16.889 and ended unchanged on the day.
Euro gold rose to about €1079, platinum gained $4 to $1172, and copper climbed 5 cents to about $2.69.
Gold and silver equities rose over 1% at the open and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Jan | -0.7% | -0.6% | -0.3% |
Core CPI | Jan | 0.2% | 0.1% | 0.1% |
Durable Goods | Jan | 2.8% | 1.7% | -3.7% |
Durable Goods -ex trans. | Jan | 0.3% | 0.5% | -0.9% |
Initial Claims | 2/21 | 313K | 290K | 282K |
FHFA Housing Price Index | Dec | 0.8% | - | 0.7% |
Tomorrow brings GDP, Chicago PMI, Michigan Sentiment, and Pending Home Sales.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell over 5% on ample inventories as the U.S. dollar jumped higher on mostly better than expected economic data that sent treasuries lower.
The Dow, Nasdaq, and S&P traded mixed in uncertain trade.
Among the big names making news in the market today were Goldman Sachs, Ibovespa, and IBM.
The Commentary:
“U.S. Stock Market - The old saying “they don’t ring bells at tops and bottoms” isn’t true; well at least this time around for U.S. stocks. The coming celebration and TOUT-TV (CNBC) extravaganza of the NASDAQ hitting 5,000 shall be a better market top signal than any lines one can draw on charts or argue fundamentally.
U.S. Bonds – Only one iron-clad rule here – avoid junk bonds (so-called high-yield) at all costs!
U.S. Dollar – Starting to see some negative momentum divergences on the charts but too early to think major top for U.S. Dollar. But the Fat Lady’s limo is nearing the building.
Gold – Despite an onslaught of bear attacks and the usual hate commentaries in the media, it continues to build a massive base that should allow much higher prices in the second half of the year.
Copper – I mentioned recently it was groping for a bottom. The groping is over as the bottom appears in.
Oil – Coin flip on which way the next $10 move is and seeing what happen to Aaron Rodgers on his last coin flip, I just leave oil alone for now.” - Peter Grandich, http://moneytalks.net/peters-content.html
GATA Posts:
Mark O'Byrne: 12 reasons why Ritholtz and many experts are mistaken on gold
Dollar Vigilante cites GATA in review of complaints about gold market rigging
The Statistics:
Activity from: 2/25/2015
Gold Warehouse Stocks: | 8,337,371.592 | -32.15 |
Silver Warehouse Stocks: | 176,895,203.150 | - |
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$29,948m |
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$5,373m |
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$434m |
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: 166.43: -0.45 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,131.48: No change from yesterday’s data.
The Miners:
Comstock’s (LODE) drill results, Great Panther’s (GPL) Letter Agreement to acquire Cangold, Silver Bear’s (SBR.TO) updated Mineral Resource estimate, and SilverCrest’s (SVLC) leave of absence were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Allied Nevada | ANV +8.42% $1.03 |
2. Gold Fields | GFI +4.54% $4.61 |
3. New Gold | NGD +4.51% $3.71 |
LOSERS
1. Pan American | PAAS -2.04% $9.58 |
2. Fortuna | FSM -1.82% $4.31 |
3. Freeport | FCX -1.81% $21.11 |
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, 26 February 2015 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains While Oil Drops
