July 3: Gold and Silver Gain Over 1% and 2%

Chris Mullen

Tuesday, July 3rd

Please Note: US markets are closed on Wednesday in observance of Independence Day.

	Close	Gain/Loss
Gold	$1622.80	+$24.40
Silver	$28.33	+$0.79
XAU	163.59	+3.73%
HUI	442.74	+3.61%
GDM	1280.86	+3.52%
JSE Gold	2311.36	-8.81
USD	81.78	-0.07
Euro	126.10	+0.31
Yen	125.24	-0.55
Oil	$87.15	+$3.42
10-Year	1.628%	+0.048
T-Bond	148.78125	-0.8125
Dow	12943.82	+0.56%
Nasdaq	2976.08	+0.84%
S&P	1374.02	+0.62%

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The Metals:

Gold rose to as high as $1624.73 by about 12PM EST and ended with a gain of 1.53%. Silver surged to as high as $28.45 and ended with a gain of 2.87%.

Euro gold rose to about €1288, platinum gained $36.20 to $1485.00, and copper gained 7 cents to about $3.53.

Gold and silver equities rose about 3.5% at the open and remained near that level for the rest of the day.

The Economy:

Report	For	Reading	Expected	Previous
Factory Orders	May	0.7%	0.2%	-0.7%

Thursday brings ADP Employment, Initial Jobless Claims, and ISM Services.

The Markets:

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

Oil rose on geopolitical worries after Iran staged missile drills and said that it “wouldn’t “sit idly” by as the U.S. and Europe built a missile-defense shield program that could target Iran.”

The U.S. dollar index waffled near unchanged in quiet trade.

Treasuries fell as the Dow, Nasdaq, and S&P rose on the outlook for an interest rate cut by the European Central Bank at its meeting on Thursday.

Among the big names making news in the market today were Barclays, Chrysler, Nissan, Microsoft, GM, and Morgan Stanley.

GATA Posts:

Barclays threatens to implicate UK regulators in rate-rigging probe

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$65,465m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	120.85	3,885,490	US$6,285m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	145.35	4,673,209	US$7,620m
Australian Stock Exchange (ASX)	Gold Bullion Securities	10.03	322,539	US$522m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	39.23	1,261,267	US$2,022m

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

COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.00: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,685.71: -135.74 change from yesterday’s data.

The Miners:

Richmont’s (RIC) mine update, Jaguar’s (JAG) COO Resignation, First Majestic’s (AG) completed acquisition of Silvermex, Coeur’s (CDE) withdrawn offering, and Fortuna’s (FSM) exploration results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1. McEwen	MUX+12.29% $3.29
2. Fortuna	FSM +11.92% $3.85
3. MAG Silver	MVG+11.14% $9.38

LOSERS

1. Richmont	RIC -13.39% $4.14
2. Gold Standard	GSV -2.69% $1.90
3. Comstock	LODE -0.40% $2.49

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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