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

 -- Published: Wednesday, 29 July 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1097.20

+$1.60

Silver

$14.82

+$0.14

XAU

48.37

+1.92%

HUI

113.14

+2.50%

GDM

384.82

+1.71%

JSE Gold

806.94

-25.98

USD

97.16

+0.49

Euro

109.82

-0.79

Yen

80.67

-0.24

Oil

$48.79

+$0.81

10-Year

2.279%

+0.029

Bond

154.34375

-0.53125

Dow

17751.39

+0.69%

Nasdaq

5111.73

+0.44%

S&P

2108.57

+0.73%

 
 

 

The Metals:

 

Gold edged up to $1099.24 in Asia before it fell back to $1091.49 at about 10AM EST, but it then bounced back higher for most of the rest of trade and ended with a gain of 0.15%.  Silver rose to as high as $14.906 and ended with a gain of 0.95%.

 

Euro gold rose to about €999, platinum remained at $982, and copper stayed at about $2.41.

 

Gold and silver equities rose about 2% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Pending Home Sales

June

-1.8%

1.0%

0.6%

 

Fed sees improving economy, job market; September rate hike in view Reuters

Fed Says Labor Market Improves as It Moves Toward Rate Increase Bloomberg

U.S. mortgage applications edged up last week: MBA Reuters

 

Tomorrow brings Initial Jobless Claims and GDP.

 

The Markets:

 

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

 

Oil turned higher after the Energy Information Administration reported that crude inventories fell 4.2 million barrels, gasoline inventories fell 400,000 barrels, and distillates rose 2.6 million barrels.

 

The U.S. dollar added to modest gains and treasuries remained lower after today’s fed statement kept the view that an interest rate hike is still likely at some point this year.

 

The Dow, Nasdaq, and S&P traded mostly higher and ended with decent gains.

 

Among the big names making news in the market today were GM, MasterCard, VW, and GlaxoSmithKline.

 

GATA Posts:

 

 

Bron Suchecki: Gold market liquidity and manipulation

 

The Statistics:

Activity from: 7/28/2015

Gold Warehouse Stocks:

7,842,682.724

-

Silver Warehouse Stocks:

176,409,664.187

-830,403.76

 

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

680.154

21,867,644

US$23,832m

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$4,869m

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$5,372m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$394m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

26.57

854,207

US$940m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.55: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,165.53: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) operations in Mali, Comstock’s (LODE) definitive agreement to amend the terms of its joint venture, Golden Star’s (GSS) financing, and Gold Fields’ (GFI) South Deep deposit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Kinross

KGC +6.55% $1.79

2.  Silver Standard

SSRI +6.42% $5.80

3.  New Gold

NGD +5.19% $2.23

 

LOSERS

1.  Richmont

RIC -2.30% $2.55

2.  First Majestic

AG -1.25% $3.15

3.  Yamana

AUY -1.00% $1.99

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

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