• Gold: 1,498.20 -0.65
  • Silver: 17.82 -0.07
  • Euro: 1.100 -0.001
  • USDX: 98.651 0.394
  • Oil: 61.87 7.05

July 16: Gold and Silver End With Slight Gains

Chris Mullen
|
Monday, July 16th
 

Close

Gain/Loss

Gold

$1589.50

+$1.50

Silver

$27.31

+$0.06

XAU

149.62

-0.40%

HUI

402.95

-0.37%

GDM

1165.91

-0.39%

JSE Gold

2254.88

-18.49

USD

83.09

-0.24

Euro

122.75

+0.26

Yen

126.83

+0.51

Oil

$88.43

+$1.33

10-Year

1.464%

-0.035

T-Bond

151.78125

+0.59375

Dow

12727.21

-0.39%

Nasdaq

2896.94

-0.40%

S&P

1353.64

-0.23%

 
 

The Metals:

 

Gold dropped down to as low as $1578.51 by a little after 8AM EST, but it then rose to as high as $1594.61 in late morning New York trade and ended with a gain of 0.09%. Silver surged to as high as $27.42 and ended with a gain of 0.22%.

 

Euro gold fell to about €1295, platinum lost $12.10 to $1412.80, and copper remained at about $3.50.

 

Gold and silver equities saw slight gains at the open before they fell to see about 1% losses in the next 45 minutes of trade, but they then bounced back higher at times and ended with only minor losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Empire Manufacturing

July

7.4

3.8

2.3

Retail Sales

June

-0.5%

0.2%

-0.2%

Retail Sales ex-auto

June

-0.4%

0.1%

-0.4%

Business Inventories

May

0.3%

0.2%

0.3%

 

IMF cuts global growth forecast; warns on euro zone Reuters

Govt to supervise credit reporting for first time Associated Press

Tomorrow at 8:30AM EST brings CPI for June expected at 0.2%. Core CPI is expected at 0.1%. At 9AM is the Net Long-Term TIC Flows report for May, at 9:15 is Industrial Production for June expected at 0.3% and Capacity Utilization expected at 79.2%, and at 10AM is the NAHB Housing Market Index for July expected at 30. Bernanke also testifies before the Senate Committee on Banking, Housing, and Urban Affairs starting at 10AM.

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index turned lower after this morning’s batch of economic data.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell on worries about the economy.

 

Among the big names making news in the market today were GSK and Human Genome, Citigroup, and JPMorgan.

 

GATA Posts:

 

 

Ron Paul: Time to audit the Fed

Was the petrol price rigged too?

Peter Brimelow: Radical gold bugs vindicated? Theory is getting mainstream media attention

Why would governments ever stop trying to rig the gold market?

Paul Craig Roberts and Nomi Prins: The real LIBOR scandal

 

The Statistics:

As of close of business: 7/13/2012

Gold Warehouse Stocks:

10,810,337.624

-

Silver Warehouse Stocks:

144,658,968.737

-43,019.34

 

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

1269.727

40,823,005

US$65,121m

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

Gold Bullion Securities

123.72

3,977,805

US$6,321m

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

ETFS Physical Gold

146.34

4,704,842

US$7,672m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.01

353,836

US$562m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

39.46

1,268,817

US$1,996m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 183.78: +1.88 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,696.71: -33.18 change from yesterday’s data.

 

The Miners:

 

Rubicon’s (RBY) drilling update, Ivanhoe’s (IVN) rights offering, Endeavour Silver’s (EXK) updated NI 43-101 reserve and resource estimates, Excellon’s (EXN.TO) update on illegal mine action, and Alexco’s (AXU) second quarter silver production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. ITH

THM +9.40% $2.91

2. Golden Minerals

AUMN +5.04% $4.38

3. MAG Silver

MVG +3.88% $9.37

LOSERS

1. Gold Reserve

GRZ-5.45% $3.64

2. Ivanhoe

IVN -3.21% $8.15

3. Revett

RVM-2.92% $3.32

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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© Gold Seeker 2012

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