• Gold: 1,268.39 1.09
  • Silver: 16.39 0.08
  • Euro: 1.165 0.004
  • USDX: 94.611 -0.232
  • Oil: 68.65 2.71

October 29: Gold and Silver End Mixed Before Fed Day

Chris Mullen
|
Tuesday, October 29th
 

Close

Gain/Loss

Gold

$1344.60

-$8.40

Silver

$22.48

+$0.01

XAU

97.70

-2.52%

HUI

241.97

-2.90%

GDM

710.86

-2.74%

JSE Gold

1367.06

+2.88

USD

79.64

+0.30

Euro

137.41

-0.46

Yen

101.86

-0.56

Oil

$98.20

-$0.48

10-Year

2.507%

-0.005

T-Bond

135.3125

+0.09375

Dow

15680.35

+0.72%

Nasdaq

3952.33

+0.31%

S&P

1771.95

+0.56%

 
 

The Metals:

 

Gold popped back above $1360 in early Asian trade before it fell back to $1340.56 by a little before 4AM EST and then bounced back higher in New York, but it still ended with a loss of 0.62%. Silver slipped to as low as $22.281 in late Asian trade, but it then climbed to as high as $22.598 in New York and ended with a gain of 0.04%.

 

Euro gold fell back under €979, platinum lost $9.50 to $1456.75, and copper edged up to $3.28.

 

Gold and silver equities fell over 2.5% by midafternoon and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Sep

-0.1%

0.2%

0.3%

Core PPI

Sep

0.1%

0.1%

0.0%

Retail Sales

Sep

-0.1%

-0.1%

0.2%

Retail Sales ex-auto

Sep

0.4%

0.2%

0.1%

Case-Shiller 20-city Index

Aug

12.8%

12.4%

12.3%

Consumer Confidence

Oct

71.2

73.1

80.2

Business Inventories

Aug

0.3%

0.2%

0.4%

 

Tomorrow brings ADP Employment, GDP, CPI, and a FOMC rate decision.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index traded mostly higher ahead of tomorrow’s fed announcement.

 

Treasuries found modest gains after today’s $35 billion 5-year note auction sold at a yield of 1.300% with a bid to cover of 2.65.

 

The Dow, Nasdaq, and S&P climbed higher on steady economic data that reinforced expectations for the fed to maintain its stimulus program.

 

Among the big names making news in the market today were Wal-Mart, Rabobank, Pfizer, Sears, JetBlue, Chrysler, and Aetna.

 

The Statistics:

As of close of business: 10/28/2013

Gold Warehouse Stocks:

7,153,726.881

-

Silver Warehouse Stocks:

167,614,241.136

+706,783.845

 

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

872.020

28,036,311

US$37,815m

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$5,983m

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$483m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.55

1,335,829

US$1,767m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 171.88: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,502.23: +59.93 change from yesterday’s data.

 

The Miners:

 

New Gold’s (NGD) third quarter results, Comstock’s (LODE) permit, Seabridge Gold’s (SA) drill results, Kirkland’s (KGI.TO) royalty transaction with Franco Nevada (FNV), and AngloGold’s (AU) mine in Namibia were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Comstock

LODE +1.14% $1.77

2. Freeport

FCX +1.10% $37.68

LOSERS

1. McEwen

MUX -7.66% $2.17

2. Sandstorm

SAND-7.24% $5.38

3. Rio Alto

RIOM -5.38% $1.76

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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