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Gold Seeker Closing Report: Gold and Silver Fall Once More
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 15 July 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1149.30

-$5.90

Silver

$15.11

-$0.27

XAU

57.34

-2.81%

HUI

137.20

-2.43%

GDM

451.53

-2.25%

JSE Gold

994.25

+10.68

USD

97.12

+0.45

Euro

109.49

-0.62

Yen

80.76

-0.28

Oil

$51.41

-$1.63

10-Year

2.350%

-0.049

Bond

150.6875

+1.15625

Dow

18050.17

-0.02%

Nasdaq

5098.94

-0.12%

S&P

2107.40

-0.07%

 
 

 

The Metals:

 

Gold fell $10.11 to $1145.09 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 0.51%.  Silver slipped to as low as $15.014 and ended with a loss of 1.76%.

 

Euro gold fell to about €1049, platinum lost $2 to $1019, and copper fell 3 cents to about $2.52.

 

Gold and silver equities drifted lower for most of the day and ended with almost 3% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

June

0.4%

0.3%

0.5%

Core PPI

June

0.3%

0.1%

0.1%

Empire Manufacturing

July

3.9

3.0

-2.0

Industrial Production

June

0.3%

0.2%

-0.2%

Capacity Utilization

June

78.4%

78.1%

78.2%

 

Beige Book: Economy expanding at moderate to modest pace CNBC

Yellen says economy on track, defends Fed 'transparency' Reuters

Yellen Says Rate Rise Likely in 2015 as Labor Market Improves Bloomberg

Yellen Testimony to House Financial Services Panel (Full Text) Bloomberg

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, the NAHB Housing Market Index, and Net Long-Term TIC Flows.

 

The Markets:

 

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

 

Oil briefly pared early losses after the Energy Information Administration reported that crude inventories fell 4.3 million barrels, gasoline inventories rose 100,000 barrels, and distillates rose 3.8 million barrels, but it ultimately ended over 3% lower on renewed worries about Greece.

 

The U.S. dollar rose and treasuries fell after Yellen reiterated that the fed remains on track to raise interest rates this year, but bonds then turned back higher and ended with notable gains after news about protests in Greece hit the wires in the last couple of hours of trade.

 

The Dow, Nasdaq, and S&P turned modestly lower in afternoon trade on concerns about Greece.

 

Among the big names making news in the market today were Mead Johnson, Delta, and BofA.

 

GATA Posts:

 

 

Paul Mylchreest: Signs of a trend change in the monetary metals

Bron Suchecki: China to control the gold price, but with physical or paper?

 

The Statistics:

Activity from: 7/14/2015

Gold Warehouse Stocks:

7,878,406.542

+35,107.412

Silver Warehouse Stocks:

179,004,471.220

-318,489.97

 

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

709.071

22,797,327

US$26,153m

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$5,087m

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$5,621m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$412m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.05

869,648

US$998m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.76: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,189.28: No change from yesterday’s data.

 

The Miners:

 

McEwen’s (MUX) record quarterly production, Kirkland’s (KGI.TO) production guidance, Harmony’s (HMY) new business plan with unions, and Fortuna’s (FSM) second quarter production figures were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sandstorm

SAND +0.33% $3.03

2.  Pretivm

PVG +0.19% $5.31

 

LOSERS

1.  Endeavour Silver

EXK -7.03% $1.72

2.  NovaGold

NG -6.33% $3.11

3.  Eldorado

EGO -5.53% $3.59

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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Additional Resources for today’s Gold Seeker Report can be found:

© 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: Wednesday, 15 July 2015 | E-Mail  | Print  | Source: GoldSeek.com

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