• Gold: 1,515.34 -0.73
  • Silver: 17.96 0.01
  • Euro: 1.101 -0.001
  • USDX: 98.513 0.267
  • Oil: 58.45 -0.28

October 4: Gold and Silver Gain With Stocks and Oil

Chris Mullen
|
Thursday, October 4th
 

Close

Gain/Loss

Gold

$1790.80

+$12.30

Silver

$34.97

+$0.40

XAU

193.50

+2.91%

HUI

518.74

+2.67%

GDM

1494.60

+2.77%

JSE Gold

2334.55

-10.97

USD

79.35

-0.62

Euro

130.15

+1.09

Yen

127.46

+0.08

Oil

$91.71

+$3.57

10-Year

1.665%

+0.042

T-Bond

148.8125

-0.875

Dow

13575.36

+0.60%

Nasdaq

3149.46

+0.45%

S&P

1461.40

+0.72%

 
 

The Metals:

 

Gold climbed $16.56 to $1795.06 just before 2PM EST before it pared its gains a bit after the fed released Minutes from their September 12th meeting, but it still ended with a gain of 0.69%. Silver rose to $35.092 in early New York trade before it fell back to $34.655 in the next 15 minutes of trade, but it then rallied back higher for most of the rest of trade and ended with a gain of 1.16%.

 

Euro gold fell back under €1376, platinum gained $27.70 to $1714.20, and copper rose a couple of cents to about $3.80.

 

Gold and silver equities rose throughout most of trade and ended with almost 3% gains.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

9/29

367K

365K

363K

Factory Orders

Aug

-5.2%

-6.0%

2.6%

 

FOMC Minutes from the fed’s September 12th meeting “showed the Fed was broadly in agreement that more policy stimulus was needed given a meager economic recovery, which registered a paltry 1.3 percent annual rate of growth in the second quarter.”

 

US rate on 30-year mortgage hits record 3.36 pct. Yahoo

 

Tomorrow at 8:30AM EST brings September’s jobs data. Nonfarm Payrolls are expected at 120,000, the Unemployment Rate is expected at 8.1%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.4. At 3PM is Consumer Credit for August expected at $5.0 billion.

 

The Markets:

 

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

 

Oil rose as the U.S. dollar index and treasuries fell after ECB President Mario Draghi said the bank is ready to start buying government bonds as soon as the necessary conditions are fulfilled.

 

The Dow, Nasdaq, and S&P rose on relief about Europe.

 

Among the big names making news in the market today were Kohl’s, Gap, HP, T-Mobile, Google, and Apple.

 

GATA Posts:

 

 

China's currency foray augurs geopolitical strains

Felix Moreno de la Cova: Revisiting 'Gold Wars' by Ferdinand Lips

 

The Statistics:

As of close of business: 10/03/2012

Gold Warehouse Stocks:

11,013,046.669

-128.60

Silver Warehouse Stocks:

142,587,123.060

-847,267.68

 

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

1324.395

42,580,635

US$76,264m

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

Gold Bullion Securities

139.10

4,472,314

US$8,004m

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

ETFS Physical Gold

154.66

4,972,528

US$8,109m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$642m

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 1.809 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.57: +0.54 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1. Gold Reserve

GRZ +9.26% $3.54

2. Jaguar

JAG +7.14% $1.20

3. Revett

RVM+6.94% $3.70

LOSERS

1. Mines MGMT

MGN -2.00% $1.47

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 2012

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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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