Gold Seeker Closing Report: Gold and Silver End Modestly Higher

By: Chris Mullen, Gold-Seeker.com

--Posted Monday, 3 December 2012 | Share this article | Source: GoldSeek.com

	Close	Gain/Loss
Gold	$1715.20	+$2.00
Silver	$33.59	+$0.22
XAU	166.85	-1.97%
HUI	439.84	-2.33%
GDM	1281.06	-2.23%
JSE Gold	2300.48	-74.08
USD	79.90	-0.23
Euro	130.53	+0.65
Yen	121.60	+0.34
Oil	$89.09	+$0.18
10-Year	1.628%	+0.022
T-Bond	151.0625	-0.34375
Dow	12965.60	-0.46%
Nasdaq	3002.19	-0.27%
S&P	1409.46	-0.47%

 

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The Metals:

Gold dropped back to $1712.80 by a little after 9AM EST before it jumped to as high as $1721.60 in the next hour of trade and then chopped back lower midday, but it still ended with a gain of 0.12%.  Silver slipped to $33.38 before it rose to as high as $33.821 and then also fell back off, but it still ended with a gain of 0.66%.

Euro gold fell to about €1314, platinum gained $10.50 to $1606, and copper rose slightly to about $3.63.

Gold and silver equities drifted lower throughout most of trade and ended with about 2% losses.

The Economy:

Report	For	Reading	Expected	Previous
ISM Index	Nov	49.5	51.2	51.7
Construction Spending	Oct	1.4%	0.4%	0.5%

There are no major economic reports due out tomorrow.

GOP issues new 'fiscal cliff' offer to Obama Yahoo

Republicans offer tax revenue in cliff plan MarketWatch

Fed officials laud stimulus, quibble over future plans Reuters

Fed's Bullard urges smaller bond buys to replace Twist Reuters

The Markets:

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

Oil rose along with the Dow, Nasdaq, and S&P in early trade as the U.S. dollar index and treasuries fell after Spain formally asked for European funds to recapitalize its banking sector.  Stronger than expected Chinese manufacturing data and a buyback offer by Greece also supported those moves, but persistent worries about the fiscal cliff dragged stocks back lower midday and the major indices ended with decent losses on the day.

Among the big names making news in the market today were Dell, News Corp., Ford, Chrysler, and UBS.

GATA Posts:

Gold Seeker Closing Report: Gold and Silver End Slightly Higher

By: Chris Mullen, Gold-Seeker.com

-- Posted Wednesday, 21 November 2012 | Share this article | Source: GoldSeek.com

Please Note: US markets are closed tomorrow in observance of Thanksgiving.  They will open up normally on Friday, but close early at 1PM EST.

	Close	Gain/Loss
Gold	$1729.20	+$1.50
Silver	$33.33	+$0.17
XAU	171.31	+1.37%
HUI	455.55	+1.47%
GDM	1323.64	+1.37%
JSE Gold	2299.80	+3.20
USD	80.94	+0.06
Euro	128.26	+0.09
Yen	121.18	-1.20
Oil	$87.38	+$0.63
10-Year	1.687%	+0.031
T-Bond	150.09375	-0.4375
Dow	12836.89	+0.38%
Nasdaq	2926.55	+0.34%
S&P	1391.03	+0.23%

 

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The Metals:

Gold traded mostly slightly lower in Asia and London, but it then rose to as high as $1731.66 in New York and ended with a gain of 0.09%.  Silver surged to as high as $33.378 and ended with a gain of 0.51%.

Euro gold remained at about €1348, platinum gained $5.50 to $1577, and copper fell a few cents to about $3.50.

Gold and silver equities rose a little over 1% by midmorning and remained near that level for the rest of the day.

The Economy:

Report	For	Reading	Expected	Previous
Initial Claims	11/17	410K	423K	451K
Michigan Sentiment	Nov	82.7	84.5	84.9
Leading Indicators	Oct	0.2%	0.2%	0.5%

U.S. Mortgage Application Volume Down in Week Fox Business

The Markets:

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

Oil rebounded from yesterday’s notable losses.

The U.S. dollar index traded mostly slightly higher as the yen fell after Japan posted its worst trade deficit for October in over 30 years.

Treasuries fell while the Dow, Nasdaq, and S&P rose on news of a cease-fire between Israel and Hamas.

Among the big names making news in the market today were Autonomy, HP, Facebook, Scholastic, Deere, and Prius.

GATA Posts:

Indian government may offer bonds payable in gold

Andrew Maguire: Price suppression mechanics of GLD and SLV

Bundesbank won't explain sale of gold even if it's only to Finance Ministry for coins

Ron Paul interviewed by GoldMoney on prospects for gold and private money

The Statistics:

As of close of business: 11/20/2012

Gold Warehouse Stocks:	11,289,663.938	+84,058.47
Silver Warehouse Stocks:	141,404,462.597	-927,344.387

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	1342.197	43,152,989	US$74,733m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	140.14	4,505,791	US$7,777m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	157.81	5,073,885	US$8,274m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$619m
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: 212.77: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,879.80: -15.05 change from yesterday’s data.

The Miners:

Midway’s (MDW) financing, Great Basin’s (GBG) settlement agreement, Keegan’s (KGN) land swap, Banro’s corporate update, operational update, and security issues, and Timmins Gold’s (TGD) bulk sample results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1.  Midway	MDW +8.15% $1.46
2.  Gold Resource	GORO+7.10% $16.14
3.  Mines MGMT	MGN +5.83% $1.09

LOSERS

1.  Banro	BAA -6.49% $2.88
2.  Turquoise	TRQ -3.76% $7.16
3.  Eurasian	EMXX-2.91% $2.00

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.