• Gold: 1,181.31 6.54
  • Silver: 14.65 0.23
  • Euro: 1.139 0.004
  • USDX: 96.474 -0.27
  • Oil: 65.03 0.05

July 9: Gold and Silver Gain Almost 1%

Chris Mullen
|
Tuesday, July 9th
 

Close

Gain/Loss

Gold

$1248.40

+$11.90

Silver

$19.22

+$0.16

XAU

85.98

+1.18%

HUI

214.09

+1.02%

GDM

640.98

+1.23%

JSE Gold

1168.08

-16.80

USD

84.60

+0.40

Euro

127.84

-0.86

Yen

98.98

-0.11

Oil

$103.53

+$0.39

10-Year

2.630%

-0.015

T-Bond

133.50

UNCH

Dow

15300.34

+0.50%

Nasdaq

3504.26

+0.56%

S&P

1652.32

+0.72%

 
 

The Metals:

 

Gold climbed $23.70 to $1260.20 in Asia before it fell back off in London and New York to as low as $1241.90 at about 2:20PM EST, but it then rallied back higher in the next hour of trade and ended with a gain of 0.96%. Silver rose to $19.506 before it fell back to $19.066 in London, but it then bounced back higher in New York and ended with a gain of 0.84%.

 

Euro gold rose above €976, platinum gained $4.05 to $1360.70, and copper fell four cents to about $3.07.

 

Gold and silver equities rose almost 3% in the first half hour of trade before they fell back towards unchanged by midafternoon, but they then rallied back higher into the close and ended with over 1% gains.

The Economy:

 

IMF Reduces Global Growth Projections as U.S. Expansion Weakens Bloomberg

Job Openings in the U.S. Climbed in May as Hiring Picked Up Bloomberg

U.S. Banks Face Two Ratios as FDIC Sets Capital Vote Bloomberg

Small business confidence slips in June Reuters

Tomorrow at 10AM EST brings the Wholesale Inventories report for May expected at 0.3% and at 2PM is the release of FOMC Minutes from the fed’s June 19th meeting.

 

The Markets:

 

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

 

Oil turned higher in late trade and ended with a decent gain on worries about further violence in Egypt.

 

The U.S. dollar index rose as the euro fell “after European Central Bank policymaker Joerg Asmussen told Reuters Insider that forward guidance on interest rates extends beyond 12 months.”

 

Treasuries fell back to unchanged after today’s $32 billion 3-year note auction sold at yield of 0.719% with a bid to cover of 3.35.

 

The Dow, Nasdaq, and S&P rose on decent earnings reports.

 

Among the big names making news in the market today were Hostess, Kroger, Glimcher, and Tesla.

 

GATA Posts:

 

 

Updates on the Indian government's war against gold

Jaco Schipper: Zijlstra's legacy and the 21st-century renaissance of gold

Pat Heller: Where's the gold?

Zero Hedge: Gold GOFO rates turn negative for first time since Lehman

Turd Ferguson: Fed's minions have gotten out from under their gold shorts

 

The Statistics:

As of close of business: 7/08/2013

Gold Warehouse Stocks:

7,202,488.040

-95,675.789

Silver Warehouse Stocks:

165,557,752.127

-47,390.47

 

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

946.960

30,445,701

US$38,202m

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$5,545m

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$448m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.43

1,364,075

US$1,654m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 15.027 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.05: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,034.95: -16.51 change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) concentrate shipments, Huldra Silver’s (HDA.V) credit facility advance and CEO appointment, Nevsun’s (NSU) operating results, and Centamin’s (CEE.TO) production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Mag Silver

MVG +7.52% $5.43

2. Tanzanian Royalty

TRX +7.26% $2.66

3. McEwen

MUX +6.67% $1.76

LOSERS

1. Eurasian

EMXX-3.95% $1.19

2. Golden Minerals

AUMN-3.85% $1.25

3. Buenaventura

BVN -3.21% $13.89

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 2013

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