February 10: Gold and Silver Fall Slightly

The Metals:

Gold edged up to $1245.43 in Asia before it chopped back lower for most of the rest of trade, but it ended with a loss of just 0.54%. Silver slipped to as low as $16.738 and ended with a loss of 0.71%.

Euro gold fell to about €1090, platinum lost $11 to $1204, and copper fell a few cents to about $2.56.

Gold and silver equities fell over 2.5% at the open before they rallied back higher for most of the rest of trade, but they still ended with over 1.5% losses.

The Economy:

Tomorrow brings the Treasury Budget for January expected at -$19 billion.

The Markets:

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

Oil fell “after the International Energy Agency (IEA) warned that ample supplies will raise global inventories before investment cuts begin to significantly dent production.”

The U.S. dollar rose as treasuries fell on optimism about Greece that sent the Dow, Nasdaq, and S&P about 1% higher.

U.S. stocks climb on Greece deal hopes MarketWatch

Shares rise on Greek debt hopes; U.S. yields rise Reuters

Among the big names making news in the market today were KKR, GM, HSBC, and Coca-Cola.

GATA Posts:

Grant Williams' new project, 'Real Vision,' has gold focus and more

Ronan Manly: Coin bars, 'melts,' and the Bundesbank

The Statistics:

Activity from: 2/9/2015

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: 167.75: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,963.31: No change from yesterday’s data.

The Miners:

Randgold’s (GOLD) comments about Africa and Mining and Eldorado’s (EGO) mine in Greece 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

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