• Gold: 1,263.12 7.32
  • Silver: 16.14 0.10
  • Euro: 1.180 0.005
  • USDX: 93.575 -0.357
  • Oil: 57.64 0.38

May 10: Gold and Silver End Mixed

Chris Mullen
|
Thursday, May 10th
 

Close

Gain/Loss

Gold

$1594.00

+$3.00

Silver

$29.06

-$0.14

XAU

153.41

-0.03%

HUI

411.24

+0.32%

GDM

1192.46

+0.32%

JSE Gold

2333.24

+77.00

USD

80.15

+0.09

Euro

129.47

+0.14

Yen

125.05

-0.55

Oil

$97.08

+$0.27

10-Year

1.884%

+0.049

T-Bond

144.34375

-0.125

Dow

12855.04

+0.16%

Nasdaq

2933.64

-0.04%

S&P

1357.99

+0.25%

 
 

 

The Metals:

 

Gold fell another $5.30 to $1585.70 at about 6AM EST before it rebounded to $1601.42 at about 10AM EST and then pared it gains a bit, but it still ended with a gain of 0.19%. Silver slipped to $28.94 before it climbed back to $29.455, but it then fell back off into the close and ended with a loss of 0.48%.

 

Euro gold rose to about €1232, platinum lost $13 to $1480, and copper rose a couple of cents to about $3.69.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

5/05

367K

365K

368K

Trade Balance

Mar

-$51.8B

-$50.2B

-$45.4B

Import Prices

Apr

-0.5%

-

1.5%

Import Prices ex-oil

Apr

0.1%

-

0.5%

Export Prices

Apr

0.4%

-

0.8%

Export Prices ex-ag.

Apr

0.2%

-

0.5%

Treasury Budget

Apr

$59.1B

$58.0B

-$40.4B

 

Mortgage Rates in U.S. Fall to Record Lows With 30-Year at 3.83% Bloomberg

 

Tomorrow at 8:30AM EST brings PPI for April expected at 0.0%. Core PPI is expected at 0.2%. At 9:55 is Michigan Sentiment for May expected at 76.0.

 

The Markets:

 

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

 

Oil rose on relief over decent economic data.

 

The U.S. dollar index ended slightly higher while treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher for most of the day on some progress in Greece, but the major indices then fell in late trade and closed mixed and on worries about what tomorrow may bring.

 

Among the big names making news in the market today were Cisco, Sony, Goldman Sachs, Avon, and Priceline.

 

GATA Posts:

 

 

Indian central bank challenged in court to repatriate country's gold

CNBC lets Eric Sprott talk about gold market manipulation

China Investment Corp. stops buying European government debt

Ted Butler: Knowing the game

So much for Australia's constitution as well

Hathaway calls gold market bottom in Casey Research interview

Mike Kosares: Extraordinary popular delusions and the madness of machines

 

The Statistics:

As of close of business: 5/09/2012

Gold Warehouse Stocks:

11,046,772.254

+10,983,49

Silver Warehouse Stocks:

140,471,581.739

-699,318.327

 

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

awaited

awaited

US$awaited

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

Gold Bullion Securities

awaited

awaited

US$awaited

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

ETFS Physical Gold

awaited

awaited

US$awaited

Australian Stock Exchange (ASX)

Gold Bullion Securities

awaited

awaited

US$awaited

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.13: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,465.08: -120.75 change from yesterday’s data.

 

The Miners:

 

Lake Shore’s (LSG) first quarter results, Aurizon’s (AZK) first quarter results, AngloGold’s (AU) first quarter results, Revett’s (RVM) first quarter results, Excellon’s (EXN.TO) first quarter results, and First Majestic’s (AG) first quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Revett

RVM +9.75% $3.94

2. Golden Star

GSS+5.76% $1.47

3. AngloGold

AU +4.73% $34.07

 

LOSERS

1. Aurizon

AZK -5.45% $5.03

2. Golden Minerals

AUMN -4.44% $5.17

3. Mines MGMT

MGN -3.95% $1.46

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 2012

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.

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