April 29: Gold and Silver End Barely Lower While Miners Gain

The Metals:

Gold fell $10.16 to $1286.44 in late Asian trade before it rebounded to $1300.40 at about 9:30AM EST, but it then drifted back lower into the close and ended with a loss of 0.04%. Silver slipped to as low as $19.324 and ended with a loss of 0.51%.

Euro gold rose to about €938, platinum gained $11 to $1426, and copper fell a few cents to about $3.07.

Gold and silver equities rose about 1.5% by late morning and remained near that level for the rest of the day.

The Economy:

U.S. Senate panel backs Fischer to be Fed's No. 2 Reuters

Tomorrow brings ADP Employment, GDP, the Employment Cost Index, Chicago PMI, and a FOMC rate decision.

The Markets:

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

Oil remained firm on continued concerns about Ukraine.

The U.S. dollar index saw slight gains as the euro fell “after a softer-than-expected reading on German inflation added to expectations that the European Central Bank could be forced to ease monetary policy further to fight low inflation.”

Treasuries fell as the Dow, Nasdaq, and S&P rose on decent earnings reports.

Among the big names making news in the market today were GE, Apple, Merck, Bristol-Meyers, Sprint, and Herbalife.

GATA Posts:

Central banks soon may not have any intermediaries for rigging gold

Ted Butler: The world's most undervalued asset

Mine closings drop Ghana's gold production by 14%

Currencies weaken and gold flows from West to Asia, Sprott says

The Statistics:

Activity from: 4/28/2014

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

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

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.41: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,178.17: -104.61 change from yesterday’s data.

The Miners:

Gold Reserve’s (GRZ.V) new convertible notes, Newmont’s (NEM) AGM results, Comstock’s (LODE) first quarter results, and Fortuna’s (FSM) drill results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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:

• http://www.capitalupdates.com
• http://www.goldseek.com
• http://www.silverseek.com
• http://www.goldreview.com

© Gold Seeker 2014

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.