October 2: Gold and Silver Fall Slightly

Chris Mullen

Tuesday, October 2nd

	Close	Gain/Loss
Gold	$1775.10	-$1.80
Silver	$34.59	-$0.13
XAU	190.81	-0.67%
HUI	513.91	-0.71%
GDM	1476.90	-0.68%
JSE Gold	2377.74	-38.29
USD	79.73	-0.08
Euro	129.22	+0.37
Yen	127.95	-0.28
Oil	$91.89	-$0.59
10-Year	1.615%	-0.010
T-Bond	149.90625	+0.25
Dow	13482.36	-0.24%
Nasdaq	3120.04	+0.21%
S&P	1445.75	+0.09%

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The Metals:

Gold climbed up to $1784.19 by a little after 8AM EST before it fell back to $1771.22 by a little after 10AM EST and then bounced back higher midday, but it then fell back off again in early afternoon trade and ended with a loss of 0.1%. Silver rose to $35.04 before it fell back to $34.385 and then also bounced back higher, but it still ended with a loss of 0.37%.

Euro gold fell to about €1374, platinum lost $1 to $1675.50, and copper rose slightly to about $3.80.

Gold and silver equities fell a little over 1% by early afternoon before they bounced back higher in the last hour of trade, but they still ended with modest losses on the day.

The Economy:

There were no major economic reports today. Tomorrow brings ADP Employment, ISM Services, and FOMC Minutes.

The Markets:

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

Oil fell on worries about world economic growth.

The U.S. dollar index fell in morning trade as the euro rose on progressing talks about a bailout for Spain, but those moves then pared a bit in afternoon trade after Spanish Prime Minister Mariano Rajoy said a request for rescue funds is not imminent.

Treasuries found slight gains as the Dow, Nasdaq, and S&P erased early gains and ended mixed on frustration over slower than hoped for progress in Europe.

Among the big names making news in the market today were JPMorgan, Samsung, GM, and Chrysler.

GATA Posts:

After five-year push, is it over for commodity position limits?

Across Latin America, the quest for gold brings both riches and conflict

New York Sun: Bernanke warns his creator

Pento sees QE4 in place already; Sinclair says gold will soar when you sell

GoldMoney's Turk notes lack of profit taking in gold and silver

Ron Paul: Gold is good money so let it compete

The Statistics:

As of close of business: 10/01/2012

Gold Warehouse Stocks:	10,954,889.560	-58,349.974
Silver Warehouse Stocks:	142,849,571.900	+300,707.76

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	1322.586	42,522,474	US$75,470m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	138.84	4,463,715	US$7,927m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	155.18	4,989,231	US$8,136m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$638m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	42.45	1,364,715	US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.809 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.07: +1.25 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,939.16: +13.56 change from yesterday’s data.

The Miners:

Kimber’s (KBX) year end results, Gold Fields’ (GFI) formal agreement with the National Union of Mineworkers, Eurasian’s (EMXX) drill results, Claude’s (CGR) preliminary production results, and Vista Gold’s (VGZ) warrant advisement were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1. Loncor	LON+4.67% $1.12
2. DRDGOLD	DRD+2.74% $6.76
3. ITH	THM+2.18%$2.81

LOSERS

1. Richmont	RIC -7.38% $4.27
2. Tanzanian Royalty	TRX -4.05% $4.98
3. Almaden	AAU -3.73% $2.58

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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