• Gold: 1,463.71 -9.34
  • Silver: 17.08 -0.08
  • Euro: 1.106 -0.001
  • USDX: 97.995 0.124
  • Oil: 58.49 1.45

July 3: Gold and Silver Gain as Oil Tops $100

Chris Mullen
|
Wednesday, July 3rd

Please Note: US Markets are closed tomorrow for Independence Day.

 

Close

Gain/Loss

Gold

$1252.90

+$10.70

Silver

$19.80

+$0.46

XAU

89.29

+1.86%

HUI

223.71

+1.68%

GDM

667.23

+1.81%

JSE Gold

1219.13

-56.23

USD

83.20

-0.36

Euro

130.07

+0.28

Yen

100.07

+0.65

Oil

$101.24

+$1.64

10-Year

2.501%

+0.032

T-Bond

147.1875

-0.78125

Dow

14988.55

+0.38%

Nasdaq

3443.67

+0.30%

S&P

1615.41

+0.08%

 
 

The Metals:

 

Gold fell $5.50 to $1236.70 at about 3:30AM EST, but it then rose to as high as $1259.40 in New York and ended with a gain of 0.86%. Silver surged to as high as $19.905 and ended with a gain of 2.38%.

 

Euro gold rose to about €963, platinum fell $19.80 to $1341.20, and copper climbed 4 cents to about $3.17.

 

Gold and silver equities opened up about 2% higher before they fell back to almost unchanged in the next half hour of trade, but they soon climbed back near their earlier highs and ended with almost 2% gains.

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

June

188K

150K

134K

Initial Claims

6/29

343K

348K

348K

Trade Balance

May

-$45.0B

-$40.8B

-$40.1B

ISM Services

June

52.2

54.0

53.7

 

Friday brings June’s jobs data.

 

The Markets:

 

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

 

Oil remained higher after the Energy Information Administration reported that crude inventories fell 10.3 million barrels, gasoline inventories fell 1.7 million barrels, and distillates fell 2.4 million barrels.

 

The U.S. dollar index fell as the yen rose on safe haven buying.

 

Treasuries fell as the Dow, Nasdaq, and S&P ended higher in mixed trade ahead of Friday’s jobs data.

 

Among the big names making news in the market today were Sprint, Chesapeake, Martha Stewart, and Prudential.

 

GATA Posts:

 

 

Another gold market observer suspects West-to-East arbitrage

 

The Statistics:

As of close of business: 7/02/2013

Gold Warehouse Stocks:

7,534,385.870

-64.3

Silver Warehouse Stocks:

166,316,943.784

-428,838.56

 

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

964.692

31,015,808

US$38,750m

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$5,556m

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$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.43

1,364,120

US$1,709m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.607 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.11: +2.07 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,961.42: +55.54 change from yesterday’s data.

 

The Miners:

 

AuRico’s (AUQ) dividend, Comstock’s (LODE) permit approval, and Timberline’s (TLR) water discharge permit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Comstock

LODE +8.48% $1.79

2. McEwen

MUX +7.30% $1.91

3. First Majestic

AG +6.79% $11.01

LOSERS

1. Rio Alto

RIOM -5.29% $1.79

2. Richmont

RIC -3.97% $1.45

3. AngloGold

AU -3.89% $13.85

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 2013

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.

Your rating: None Average: 5 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map