• Gold: 1,221.30 -0.99
  • Silver: 14.32 0.00
  • Euro: 1.138 0.001
  • USDX: 96.788 -0.048
  • Oil: 54.39 1.02

May 22: Gold and Silver End Over 1% Lower

Chris Mullen
|
Tuesday, May 22nd
 

Close

Gain/Loss

Gold

$1566.80

-$26.20

Silver

$28.13

-$0.36

XAU

150.78

-1.05%

HUI

405.06

-1.14%

GDM

1177.69

-1.02%

JSE Gold

2431.01

+60.03

USD

81.65

+0.72

Euro

126.80

-1.35

Yen

125.07

-1.04

Oil

$91.66

-$0.91

10-Year

1.793%

+0.058

T-Bond

146.78125

-1.125

Dow

12502.81

-0.01%

Nasdaq

2839.08

-0.29%

S&P

1316.63

+0.05%

 
 

 

The Metals:

 

Gold dropped $19.82 to $1573.18 by about 5AM EST before it climbed back above $1590 by late morning in New York, but it then fell back off into the close and ended with a loss of 1.64%. Silver slipped to $28.015 before it surged to as high as $28.804, but it also fell back off in late trade and ended with a loss of 1.26%.

 

Euro gold fell to about €1236, platinum lost $24.50 to $1443, and copper dropped 4 cents to about $3.46.

 

Gold and silver equities rose over 1% by midmorning, but they then fell back off into the close and ended with over 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Existing Home Sales

Apr

4.62M

4.65M

4.47M

 

Tomorrow at 10AM EST brings New Home Sales for April expected at 339,000.

 

The Markets:

 

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

 

Oil fell and the U.S. dollar index rose as the euro dropped on a lack of progress from an informal meeting of European leaders.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose in early trade on decent housing data, but stocks then fell back off into the close and ended near unchanged on renewed rumors about Greece’s exit from the euro.

 

Among the big names making news in the market today were Best Buy, Kodak, MetLife, and Motel 6.

 

GATA Posts:

 

 

Gold cheaper in real terms now than it was at $400, Wits Gold's Adam Fleming says

European Central Bank secretly distributes infinite money

Resource Clips interviews GATA Chairman Murphy and Canada's National Post reprints it

China doesn't trust Wall Street to handle its Treasury bond orders

Gene Arensberg: Trading data indicates bottom for monetary metals

 

The Statistics:

As of close of business: 5/18/2012

Gold Warehouse Stocks:

11,001,550.824

+225.04

Silver Warehouse Stocks:

141,823,100.310

+109,536.52

 

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: 176.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,649.21: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) assay results, Jaguar’s (JAG) board appointment, Northern Dynasty’s (NAK) comments on the EPA’s report, Paramount’s (PZG) drill results, Comstock’s (LODE) notice from the BLM, Endeavour Silver’s (EXK) drill results, Huldra Silver’s (HAD.V) permits, and First Majestic’s (AG) NI 43-101 Technical Report (TR) and Pre-Feasibility Study (PFS) for the Del Toro Silver Mine were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Loncor

LON +6.96% $1.07

2. Seabridge

SA +6.06% $13.13

3. Silver Standard

SSRI+1.02% $10.93

 

LOSERS

1. Northern Dynasty

NAK -32.98% $2.56

2. Solitario

XPL -14.29% $1.02

3. Timmins

TGD -10.06% $1.61

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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