June 28: Gold and Silver Fall With Stocks and Oil
Gold fell to as low as $1547.86 before it rallied back higher in the last couple of hours of trade, but it still ended with a loss of 1.12%. Silver slumped to as low as $26.128 before it also rebounded, but it still ended with a loss of 1.71%.
Euro gold closed at about €1251, platinum ended at $1388.00, and copper settled at $3.34.
Gold and silver equities fell over 3.5% by midafternoon, but they then rallied back higher in late trade and ended with only about 2% losses.
Tomorrow Brings Core PCE Prices, Personal Income and Spending, Chicago PMI, and Michigan Sentiment.
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose on worries about Europe that sent the Dow, Nasdaq, and S&P lower, but most of those moves moderated from rather severe to relatively minor by the close.
“A clear and unconditional policy roadmap may not come out of the EU summit,” Gregory Peters, Morgan Stanley’s chief cross-asset strategist, wrote in a note to clients. “The German opposition to and the watering down of the plan by top EU officials before it was even made public doesn’t bode well for any major breakthroughs at the summit.”
Among the big names making news in the market today were JPMorgan, Google, Tenet, News Corp., Qualcomm, and Amazon.
As of close of business: 6/27/2012
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
COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.67.
Silver Trust (SLV) Total Tonnes in Trust: 9,875.75.
Northern Dynasty’s (NAK) call for independent experts, Kinross Gold’s (KGC) completed mine interest sale, Gold Resource’s (GORO) dividend, McEwen’s (MUX) resource update, Seabridge’s (SA) AGM results, Great Panther’s (GPL) AGM results, and Alexco’s (AXU) initial mineral resource estimates were among the big stories in the gold and silver mining industry making headlines today.
XPL +4.03% $1.29
TGD +2.86% $1.80
3. Mag Silver
LON -10.81% $0.99
2. Mines MGMT
MGN -7.97% $1.27
XRA -7.88% $1.52
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.