• Gold: 1,463.85 -9.20
  • Silver: 17.09 -0.07
  • Euro: 1.106 -0.001
  • USDX: 97.994 0.123
  • Oil: 58.58 1.54

July 7: Gold and Silver End Near Unchanged

Chris Mullen
|
Monday, July 7th
 

Close

Gain/Loss

Gold

$1319.60

UNCH

Silver

$21.02

-$0.11

XAU

99.98

-1.48%

HUI

235.70

-1.67%

GDM

722.51

-1.32%

JSE Gold

1484.24

-8.72

USD

80.22

UNCH

Euro

136.07

-0.01

Yen

98.20

+0.33

Oil

$103.53

-$0.53

10-Year

2.617%

-0.031

Bond

135.71875

+0.53125

Dow

17024.21

-0.26%

Nasdaq

4451.53

-0.77%

S&P

1977.65

-0.39%

 
 

The Metals:

 

Gold dropped $7.27 to $1312.33 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended unchanged on the day. Silver slipped to as low as $20.844 and ended with a loss of 0.52%.

 

Euro gold remained at about €970, platinum lost $4 to $1491, and copper climbed a penny to about $3.26.

 

Gold and silver equities fell over 1% in the first half hour of trade and remained near that level for the rest of the day.

The Economy:

 

There were no major economic reports today. Tomorrow brings JOLTS - Job Openings data and Consumer Credit.

 

The Markets:

 

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

 

Oil saw slight losses on the outlook for increased supplies.

 

The U.S. dollar index waffled near unchanged while the yen rose on speculation about interest rate moves.

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped on worries about interest rates.

 

Among the big names making news in the market today were ADM and Wild Flavors, Expedia and Wotif, and Aristocrat and Video Gaming Technologies.

 

GATA Posts:

 

 

Koos Jansen: China's central bank doesn't buy gold on Shanghai exchange

Gold miners will return to net hedging in 2014, GFMS says

Central banks now rig all asset prices, Stockman says

France lashes out at dollar dominance in international transactions

London's scandal-hit gold price fixing under spotlight this week

Koos Jansen: China's half-year gold demand hits 947 tonnes

Central bank talk moves currencies now, not commodity prices

 

The Statistics:

Activity from: 7/03/2014

Gold Warehouse Stocks:

8,301,628.371

+3,143.00

Silver Warehouse Stocks:

176,710,815.566

+1,187,780.87

 

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) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

796.392

25,604,803

US$33,602m

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$5,840m

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$473m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.90

1,347,046

US$1,769m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.28: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,038.52: No change from yesterday’s data.

 

The Miners:

 

Eurasian’s (EMXX) optioned project, Goldcorp’s (GG) dividend, New Gold’s (NGD) updated mineral resource, Claude’s (CGR) record production results, AngloGold’s (AU) new CFO, and Avino’s (ASM) market offering were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Lake Shore

LSG +13.1% $1.04

2. Almaden

AAU +2.11% $1.45

3. Rubicon

RBY +2.08% $1.47

LOSERS

1. Avino

ASM -8.79% $2.18

2. Coeur

CDE -5.28% $8.79

3. NovaGold

NG -5.25% $4.15

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 2014

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