July 5: Gold and Silver End Slightly Lower
Please Note: Today’s gains and losses reflect changes from Tuesday’s early close at 1PM EST and today’s usual close at 4PM EST. US Markets were closed on Wednesday in observance of Independence Day.
Gold climbed up to $1623.53 at about 7:45AM EST before it fell back to $1597.59 in the next hour of trade, but it then bounced back higher at times and ended with a loss of 1.13%. Silver rose to $28.39 before it slumped back to $27.516 and then also bounced back higher, but it still ended with a loss of 2.29%.
Euro gold rose to about €1295, platinum lost $11 to $1474.00, and copper fell 4 cents to $3.49.
Gold and silver equities fell over 1% at the open before they rallied back to about unchanged by midmorning, but they then fell back off into the close and ended with over 1% losses.
Tomorrow at 8:30AM EST brings June’s jobs data. Nonfarm Payrolls are expected at 100,000, the Unemployment Rate is expected at 8.2%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.4.
Charts Courtesy of http://finance.yahoo.com/
The Bank of China lowered borrowing and deposit rates, the European Central Bank cut its main rate to a record low, and the Bank of England extended their bond buying program, but those central bank interventions only managed to meet expectations and not exceed them. Following that were some rather tame statements by ECB president Draghi and some better than expected jobs data in the US, and the markets took on a defensive/non-stimulative tone going forward.
Oil pared early losses after the Energy Information Administration reported that crude inventories fell 4.3 million barrels, gasoline inventories rose 200,000 barrels, and distillates fell 1.1 million barrels.
The U.S. dollar index and treasuries rose on todays above mentioned news that held the Dow, Nasdaq, and S&P mostly lower.
Among the big names making news in the market today were Barclays, Telefonica, and Aetna.
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: 180.96: -0.04 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,681.63: -4.08 change from yesterday’s data.
Banro’s (BAA) initiatives to improve access to education in the Democratic Republic of the Congo, Newmont’s (NEM) protests in Peru, AngloGold’s (AU) comments on Australia’s politics, and Silvercorp’s (SVM) mineral resource estimates were among the big stories in the gold and silver mining industry making headlines today.
1. Northern Dynasty
NAK +11.11% $2.80
2. Lake Shore
LSG +9.78% $1.01
LODE +4.02% $2.59
JAG -5.74% $1.15
IVN -5.06% $9.76
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
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today’s Gold Seeker Report can be found:
© Gold Seeker 2012
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.