July 2: Gold and Silver End Mixed

Chris Mullen

Monday, July 2nd

Please Note: US markets will close early on Tuesday at 1PM EST and remain closed on Wednesday in observance of Independence Day. Canadian markets were closed today in observance of Canada Day.

	Close	Gain/Loss
Gold	$1598.40	-$0.30
Silver	$27.54	+$0.06
XAU	157.71	+0.11%
HUI	427.28	-0.11%
GDM	1237.26	+0.01%
JSE Gold	2320.17	-21.87
USD	81.85	+0.16
Euro	125.86	-0.79
Yen	125.78	+0.56
Oil	$83.75	-$1.21
10-Year	1.580%	-0.079
T-Bond	149.59375	+1.625
Dow	12871.39	-0.07%
Nasdaq	2951.23	+0.55%
S&P	1365.51	+0.25%

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The Metals:

Gold fell to $1587.11 by a little after AM EST before it climbed to as high as $1602.14 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.02%. Silver slipped to $27.217 in Asia before it climbed to as high as $27.62, but it then drifted back lower into the close and ended with a gain of just 0.22%.

Euro gold rose to about €1270, platinum gained $5.30 to $1448.80, and copper fell a few cents to about $3.46.

Gold and silver equities traded mostly lower and ended mixed.

Gold imports could rise by 20% in 2nd half: Bullion association The Times of India

Gold coin sales fall in quarter, loses safe-haven luster Reuters

The Economy:

Report	For	Reading	Expected	Previous
ISM Index	June	49.7	52.2	53.5
Construction Spending	May	0.9%	0.2%	0.6%

Tomorrow at 10AM EST brings Factory Orders for May expected at 0.4%.

The Markets:

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

Oil fell as the U.S. dollar index rose on doubts about Europe’s future.

Treasuries rose as the Dow, Nasdaq, and S&P traded mixed on poor manufacturing data.

Among the big names making news in the market today were Apple, Barclays, Linde and Lincare Holdings, Dell and Quest, Bristol and Amylin, and Micron and Elpida.

GATA Posts:

Silver market manipulation taken for granted by CNBC host and panelists

U.S. law against 'conflict gold' unenforceable and ineffective

Barclays bankers thought Bank of England wanted rates falsified

Alasdair Macleod: Gold re-entering monetary system

James Turk: Where was the German gold?

Bank of England expected to launch L50 billion QE

The Statistics:

As of close of business: 6/29/2012

Gold Warehouse Stocks:	10,836,667.044	+4,975.279
Silver Warehouse Stocks:	146,532,785.604	+599,997.06

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	1279.506	41,137,412	US$65,735m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	121.15	3,895,103	US$6,228m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	145.30	4,671,399	US$7,617m
Australian Stock Exchange (ASX)	Gold Bullion Securities	10.03	322,539	US$515m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	39.23	1,261,267	US$2,022m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.113 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.00: -0.94 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,821.45: -54.3 change from yesterday’s data.

The Miners:

Comstock’s (LODE) completed heap leach construction and Gold Fields’ (GFI) closed mine after a fatal accident were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1. Midway	MDW +9.25% $1.52
2. Golden Minerals	AUMN +5.54% $4.76
3. Northern Dynasty	NAK +4.70% $2.45

LOSERS

1. Pan American	PAAS-3.85%$16.23
2. MAG Silver	MVG -2.99% $8.44
3. McEwen	MUX -2.66% $2.93

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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