Friday 2 November 2012

Gold Seeker Closing Report: Gold and Silver Gain About 1%



Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold-Seeker.com

-- Posted Wednesday, 31 October 2012 | Share this article | Source: GoldSeek.com




Close
Gain/Loss
Gold
$1721.20
+$11.70
Silver
$32.25
+$0.48
XAU
188.24
+3.03%
HUI
506.33
+3.05%
GDM
1458.10
+3.24%
JSE Gold
2388.92
+80.09
USD
79.93
-0.01
Euro
129.58
+0.20
Yen
125.32
-0.24
Oil
$86.24
+$0.56
10-Year
1.686%
-0.064
T-Bond
149.3125
+0.6875
Dow
13096.54
-0.08%
Nasdaq
2977.23
-0.36%
S&P
1412.16
+0.02%
 
 

The Metals:

Gold climbed to as high as $1725.63 by late morning in New York before it fell back off a bit in afternoon trade, but it still ended with a gain of 0.68%.  Silver surged to as high as $32.411 before it also fell back off, but it still ended with a gain of 1.51%.

Euro gold rose to about €1327, platinum gained $20.80 to $1569, and copper climbed a couple of cents to about $3.53.

Gold and silver equities rose about 3% by midday and remained near that level for the rest of the day.

The Economy:

Report
For
Reading
Expected
Previous
Employment Cost Index
Q3
0.4%
0.5%
0.5%
Chicago PMI
Oct
49.9
50.9
49.7


Tomorrow at 8:15AM EST brings the delayed ADP Employment report for October expected at 143,000. At 8:30 are Initial Jobless Claims for 10/27 expected at 375,000, third quarter Productivity expected at 1.6%, and Unit Labor Costs expected at 1.4%.  At 10AM is the ISM Index for October expected at 51.0, Construction Spending for September expected at 0.8%, and Consumer Confidence for October expected at 72.0.

The Markets:

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

Oil rose on increased demand expectations as reconstruction efforts began to repair the extensive damage done by Hurricane Sandy.

The U.S. dollar index ended slightly lower in mixed trade.

Treasuries rose as the Dow, Nasdaq, and S&P struggled to hold gains on uncertainty about the full impact of Hurricane Sandy.

Among the big names making news in the market today were Barclays, GM, Apple, MasterCard, Disney, Citigroup, and Hyatt.

GATA Posts:



The Statistics:
As of close of business: 10/30/2012
Gold Warehouse Stocks:
11,243,299.568
-
Silver Warehouse Stocks:
142,362,051.246
-

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)
SPDR® Gold Shares
1336.301
42,963,411
US$73,703m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
140.47
4,516,193
US$7,765m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
155.94
5,013,574
US$8,175m
Australian Stock Exchange (ASX)
Gold Bullion Securities
11.16
358,789
US$617m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
42.45
1,364,715
US$2,214m
Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 208.59: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,923.19: No change from yesterday’s data.


Barrick Gold’s (ABX) dividend, Randgold’s (GOLD) emergency health aid, Gold Resource’s (GOR) dividend, Keegan’s (KGN) new recruitments, and Excellon’s (EXN.TO) drill campaign were among the big stories in the gold and silver mining industry making headlines today.

WINNERS
1.  Timmins
TGD+10.11% $3.05
2.  McEwen
MUX +8.48% $4.86
3.  Yamana
AUY+8.19% $20.21

LOSERS
1.  Golden Star
GSS -4.31% $2.00
2.  Jaguar
JAG -3.70% $1.04
3.  Northern Dynasty
NAK -3.28% $3.54
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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