April 25: Gold and Silver End Mixed
Gold waffled near unchanged in Asia and London and edged up to $1644.30 at about 9:15AM EST before it dropped to as low as $1625.25 immediately after today’s fed statement, but it then climbed to as high as $1646.20 in afternoon trade and ended with a gain of 0.16%. Silver slipped to as low as $29.98 before it also recovered, but it still ended with a loss of 0.29%.
Euro gold fell to about €1243, platinum gained $7.50 to $1549.50, and copper rose a few cents to about $3.70.
Gold and silver equities rose about 1% by midday before they fell back near unchanged after the fed’s statement, but they then climbed back higher in the last few hours of trade and ended with about 2.5% gains.
Durable Goods -ex Trans.
“Federal Reserve Chairman Ben S. Bernanke said the central bank remains prepared to take additional action if needed to boost the economy, after leaving its policy unchanged today.
“We remain prepared to do more as needed to make sure that this recovery continues and that inflation stays close to target,” he said at a press conference today following a meeting of the Federal Open Market Committee in Washington.”
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 4/21 expected at 373,000 and at 10AM is the Pending Home Sales report for March expected at 0.5%.
Charts Courtesy of http://finance.yahoo.com/
Oil ended modestly higher after the Energy Information Administration reported that crude inventories rose 4 million barrels, gasoline inventories fell 2.2 million barrels, and distillates fell 3.1 million barrels.
The U.S. dollar index eventually fell after Bernanke’s press conference left the fed’s options open for more stimulative measures if needed.
Treasuries pared early losses after today’s $35 billion 5-year note auction sold at a high yield of 0.887% with a bid to cover of 3.09, but they then headed back lower after the fed’s announcement.
The Dow, Nasdaq, and S&P rose on better than expected earnings reports.
Among the big names making news in the market today were Wells Fargo, Coca-Cola, Harley, Caterpillar, Sprint, Boeing, Apple, Platts, and US Airways,
As of close of business: 4/24/2012
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
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: 9,552.14: No change from yesterday’s data.
Tanzanian Royalty’s (TRX) Preliminary Economic Assessment, Entree Gold’s (EGI) drill results, Banro’s (BAA) operations updates, and Ivanhoe’s (IVN) comments about SouthGobi Resources’ announcement were among the big stories in the gold and silver mining industry making headlines today.
NG +9.53% $7.24
XG +9.43% $4.41
SA -4.22% $16.58
LON -4.17% $1.15
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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