• Gold: 1,515.34 -0.73
  • Silver: 17.96 0.01
  • Euro: 1.101 -0.001
  • USDX: 98.513 0.267
  • Oil: 58.45 -0.28

December 11: Gold and Silver End Slightly Lower

Chris Mullen
|
Tuesday, December 11th
 

Close

Gain/Loss

Gold

$1710.00

-$1.60

Silver

$32.95

-$0.24

XAU

163.68

-0.29%

HUI

436.80

-0.48%

GDM

1275.45

-0.41%

JSE Gold

2231.81

-22.82

USD

80.06

-0.25

Euro

130.05

+0.63

Yen

121.16

-0.28

Oil

$85.79

+$0.23

10-Year

1.649%

+0.033

T-Bond

150.375

-0.6875

Dow

13248.44

+0.60%

Nasdaq

3022.30

+1.18%

S&P

1427.84

+0.65%

 
 

 

The Metals:

 

Gold climbed $2.70 to $1714.30 by a little before 8AM EST before it fell back to $1704.82 in the next two and a half hours of trade, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.09%. Silver bumped up to $33.22 before it dropped back to $32.758 and then bounced back higher, but it still ended with a loss of 0.72%.

 

Euro gold fell to about €1315, platinum gained $14 to $1635, and copper fell a couple of cents to about $3.67.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Trade Balance

Oct

-$42.2B

-$42.8B

-$40.3B

Wholesale Inventories

Oct

0.6%

0.4%

1.1%

 

Job Openings in U.S. Rose in October to Four-Month High Bloomberg

"Fiscal cliff" outcome still uncertain; talks continue Reuters

 

Tomorrow at 8:30AM EST brings Export and Import Prices for November and at 12:30 is a FOMC rate decision. At 2PM is the Treasury Budget for November expected at -$113.0 billion.

 

The Markets:

 

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

 

Oil ended slightly higher in mixed trade as traders awaited the outcome of tomorrow’s OPEC and fed meetings.

 

The U.S. dollar index fell as the euro rose after better than expected economic data out of Germany.

 

Treasuries remained lower after today’s $32 billion 3-year note auction sold at a high yield of 0.327% with a bid to cover of 3.36.

 

The Dow, Nasdaq, and S&P rose on hopes for a resolution to the fiscal cliff.

 

Among the big names making news in the market today were HSBC, WebMD, Liberty, AIG, and Delta.

 

GATA Posts:

 

 

Don't be scared off, Kim cautions; von Greyerz notes gold scarcity

Secret IMF report: Hide gold loans and swaps for market manipulation

 

The Statistics:

As of close of business: 12/10/2012

Gold Warehouse Stocks:

11,420,235.125

+6,754.22

Silver Warehouse Stocks:

146,924,375.411

+290,047.29

 

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

1353.346

43,511,415

US$74,479m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

139.86

4,496,718

US$7,679m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

159.79

5,137,555

US$8,378m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$613m

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: 215.94: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,829.15: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) award, ITH’s (THM) metallurgical test work, Jaguar’s (JAG) retained Chief Operating Officer, Coeur’s (CDE) acquisition of the remaining interest in the Joaquin silver-gold project, and Bear Creek’s (BCM.V) Environmental and Social Impact Assessment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Golden Minerals

AUMN +9.88% $4.67

2. ITH

THM +3.62% $2.29

3. Golden Star

GSS +3.30% $1.88

 

LOSERS

1. Great Panther

GPL -2.92% $1.66

2. Nevsun

NSU -2.86% $4.07

3. New Gold

NGD-2.52% $10.81

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 2012

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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