• Gold: 1,466.01 7.50
  • Silver: 16.97 0.15
  • Euro: 1.102 0.001
  • USDX: 98.327 0
  • Oil: 56.29 -0.51

June 11: Gold and Silver Fall With Stocks, Dollar, and Oil

Chris Mullen
|
Tuesday, June 11th
 

Close

Gain/Loss

Gold

$1378.70

-$6.70

Silver

$21.65

-$0.26

XAU

102.43

-3.18%

HUI

260.72

-3.48%

GDM

776.73

-3.31%

JSE Gold

1467.19

-55.53

USD

81.09

-0.57

Euro

133.15

+0.58

Yen

104.20

+2.98

Oil

$95.77

-$0.39

10-Year

2.195%

-0.020

T-Bond

140.46875

+0.53125

Dow

15122.02

-0.76%

Nasdaq

3436.94

-1.06%

S&P

1626.13

-1.02%

 
 

The Metals:

 

Gold fell to as low as $1366.70 at about 9:30AM EST before it bounced back higher into the close, but it still ended with a loss of 0.48%. Silver slipped to as low as $21.49 and ended with a loss of 1.19%.

 

Euro gold fell to under €1036, platinum lost $27 to $1475.50, and copper dropped 4 cents to about $3.20.

 

Gold and silver equities remained weak throughout most of trade and ended with over 3% losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

April

0.2%

0.2%

0.3%

 

Job Openings in the U.S. Decreased in April to 3.76 Million Bloomberg

Tomorrow at 2PM EST brings the Treasury Budget for May expected at -$139.0 billion.

 

The Markets:

 

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

 

The U.S. dollar index fell as the yen jumped higher after the Bank of Japan did not announce any new measures to curb recent volatility in the bond market.

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped along with oil on worries about central bank commitments toward easy monetary policy.

 

Among the big names making news in the market today were GameStop, Sony, Google, CBOE, and Lululemon.

 

GATA Posts:

 

 

India's gold duty increase leads to a spurt in smuggling

GATA chairman interviewed by Finance and Liberty's Elijah Johnson

 

The Statistics:

As of close of business: 6/10/2013

Gold Warehouse Stocks:

7,752,362.272

-217,780.66

Silver Warehouse Stocks:

164,384,360.733

+237,143.735

 

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

1009.847

32,467,579

US$44,593m

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$6,118m

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$494m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.706 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 186.88: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,988.42: No change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) abandoned plans to develop its project in Ecuador, McEwen’s (MUX) lowered production forecast, AuRico’s (AUQ) dividend reinvestment plan, Endeavour Silver’s (EXK) drill results, and Pretivm’s (PVG) Feasibility Study were among the big stories in the gold and silver mining industry making headlines today.

 

WINNER

1. Mag Silver

MVG +1.33% $7.63

LOSERS

1. Richmont

RIC -7.45% $1.74

2. McEwen

MUX -7.23% $2.31

3. Midway

MDW -6.90% $1.08

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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