Gold Seeker Closing Report: Gold and Silver End Near Unchanged Again

The Metals:

Gold fell to $1645.20 in Asia before it climbed back to $1656.71 in London and then dropped to a new session low of $1634.81 at about 10AM EST, but it then climbed to a new session high of $1657.40 in the next hour and a half of trade and ended with a loss of just 0.09%.Silver slipped to $31.221 in Asia, but it then rose to as high as $31.898 in New York and ended with a gain of 0.67%.

Euro gold remained at about €1257, platinum gained $9.75 to $1580.50, and copper rose slightly to about $3.64.

Gold and silver equities rose about 2% by midmorning before they fell back off a bit in afternoon trade, but they still ended with about 1% gains.

The Economy:

Budget cuts favored for reducing deficit: poll Reuters

Tomorrow at 7AM EST is the MBA Mortgage Index for 4/14.

The Markets:

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

The U.S. dollar index traded mostly slightly lower after a Spanish bond auction drew stronger demand than expected.

Treasuries fell as the Dow, Nasdaq, and S&P rose along with oil on decent economic data in the US and Germany.

Among the big names making news in the market today were Johnson & Johnson, Audi and Ducati, Goldman Sachs, First Solar, Coca-Cola, Goldman Sachs, and State Street.

GATA Posts:

GATA tells the past well enough, but we're not in charge of the future

The Statistics:

As of close of business: 4/16/2012

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: 180.17: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,636.69: +45.3 change from yesterday’s data.

The Miners:

New Gold’s (NGD) development and exploration update and Brigus Gold’s (BRD) 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

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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 2012

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