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Gold Seeker Closing Report: Gold Falls Nearly 3% and Silver Slips 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 20 July 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1103.20

-$30.70

Silver

$14.71

-$0.18

XAU

48.63

-10.28%

HUI

113.07

-12.05%

GDM

383.55

-10.49%

JSE Gold

846.93

-89.17

USD

98.02

+0.14

Euro

108.27

-0.19

Yen

80.45

-0.16

Oil

$50.15

-$0.74

10-Year

2.372%

+0.023

Bond

151.78125

-0.3125

Dow

18100.41

+0.08%

Nasdaq

5218.85

+0.17%

S&P

2128.28

+0.08%

 
 
 

 

The Metals:

 

Gold crashed down to $1086.81 in early Asian trade before it bounced back to $1117.48 by a little before 4AM EST, but it then drifted back lower again in London and New York and ended with a loss of 2.71%.  Silver slipped to as low as $14.57 and ended with a loss of 1.21%.

 

Gold slide helps erase half of gains from 12-yr bull run, $1000/ounce on horizon

Gold’s crash isn’t over: prices down 8 sessions, hit 5-year low

Gold-Mining Stocks Slump to Lowest in Decade on Bullion Rout

Sell-off in gold miners wipes $8 bln off their market value

CME halts gold trading twice amid rout in early Asian hours

Dissection of a gold price smash

Traders suspicious of bear raid in gold amid low liquidity

Gold’s slump is here to stay

Gold Selloff Points to Buying Opportunity: Todd Horwitz

Big fund suspected of selling gold after price crashes to 5-year low

Gold Is a Financial Market Dislocation Hedge: Pond

South Africa’s Gold-Mining Index Drops to Lowest in 14 Years

Why Is Gold Plunging?

Commodity Rout Extends Toward 13-Year Low as Gold Shunned on Fed

This is what could keep gold crashing

 

Euro gold fell to about €1018, platinum lost $23 to $975, and copper fell a couple of cents to about $2.48.

 

Gold and silver equities fell throughout most of trade and ended with over 10% losses.

 

Heiko Ihle's comments on Gold Standard Ventures Corp.


"Gold Standard Ventures Corp.'s Railroad-Pinion project is located in close proximity to various producing and development stage mines, which we believe positions Gold Standard as a strong candidate for an eventual takeover. We are assuming coverage of the company with a Buy rating and a $1.20/share price target."


- Heiko Ihle, Rodman & Renshaw

 

 

The Economy:

 

Fed's Bullard says better than 50 pct chance of Fed hike in September: Fox Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil fell 1.5% on the outlook for ample supplies in the near future.

 

The U.S. dollar waffled near unchanged and treasuries fell on relative calm in Greece.

 

The Dow, Nasdaq, and S&P edged higher on decent earnings reports.

 

Among the big names making news in the market today were Halliburton, JPMorgan, SunEdison, Morgan Stanley, Toshiba, and Amazon.

 

GATA Posts:

 

 

Bron Suchecki: Dissection of a gold price smash

Traders suspicious of bear raid in gold amid low liquidity

 

The Statistics:

Activity from: 7/17/2015

Gold Warehouse Stocks:

7,764,420.737

-64,092.19

Silver Warehouse Stocks:

178,526,889.375

-352,794.358

 

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

696.252

22,385,184

US$25,352m

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$4,914m

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$5,429m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$397m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.05

869,629

US$985m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 11.626 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,227.90: +38.62 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) debt, Randgold’s (GOLD) quarterly update, Barrick’s (ABX) responsibility report, Entree Gold’s (EGI) plans to acquire a net smelter returns royalty, Royal Gold’s (RGLD) acquired gold and silver stream from New Gold (NGD), Primero’s (PPP) exploration update, Kirkland’s (KGI.TO) last trading day on the AIM, IAMGOLD’s (IAG) drill results, Silver Bear’s (SBR.TO) AGM results, Bear Creek’s (BCM.V) filed technical report, and Avino’s (ASM) sampling results were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Alamos

AGI -18.25% $3.36

2.  Seabridge

SA -15.74% $4.23

3.  Barrick

ABX -15.70% $7.41

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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: Monday, 20 July 2015 | E-Mail  | Print  | Source: GoldSeek.com

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