October 8: Gold and Silver Fall With Stocks and Oil

Chris Mullen

Monday, October 8th

	Close	Gain/Loss
Gold	$1174.70	-$6.20
Silver	$34.01	-$0.50
XAU	190.08	-0.76%
HUI	510.77	-0.61%
GDM	1468.20	-0.77%
JSE Gold	2445.31	+47.30
USD	79.59	+0.23
Euro	129.72	-0.61
Yen	127.69	+0.55
Oil	$89.33	-$0.55
10-Year	1.746%	+0.014
T-Bond	148.25	+0.75
Dow	13583.65	-0.19%
Nasdaq	3112.35	-0.76%
S&P	1455.88	-0.35%

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The Metals:

Gold fell $14.30 to $1766.60 in Asia, but it then climbed back higher throughout most of trade in New York and ended with a loss of just 0.35%. Silver slipped to as low as $33.776 before it also rebounded, but it still ended with a loss of 1.45%.

Euro gold rose to about €1368, platinum lost $12 to $1689.50, and copper fell a couple of cents to about $3.74.

Gold and silver equities fell over 1% at the open before they rebounded in afternoon trade, but they still ended with modest losses on the day.

The Economy:

There were no major economic reports today and there are none due out tomorrow.

The Markets:

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

Oil fell and the U.S. dollar index rose as the euro fell on apprehension about a meeting between Eurozone finance ministers.

The bond market was closed in observance of Columbus Day.

The Dow, Nasdaq, and S&P fell on worries about Europe.

Among the big names making news in the market today were UBS, Staples, Allscripts, Apple, Yahoo, and UnitedHealth.

GATA Posts:

India joins the modern world: 'Erroneous trades' cause flash crash

James Turk: Determining the value of gold

The Statistics:

As of close of business: 10/05/2012

Gold Warehouse Stocks:	11,017,782.149	+5,035.72
Silver Warehouse Stocks:	143,957,622.546	+843,291.206

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	1333.440	42,871,438	US$76,452m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	141.10	4,536,405	US$8,057m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	154.45	4,965,564	US$8,097m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$637m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	42.45	1,364,715	US$2,214m

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

COMEX Gold Trust (IAU) Total Tonnes in Trust: 204.60: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,920.18: No change from yesterday’s data.

The Miners:

WINNERS

1. ITH	THM +2.67% $2.69
2. Avino	ASM +1.93% $1.70
3. Midway	MDW+1.83% $1.67

LOSERS

1. Golden Star	GSS -5.03% $1.89
2. Gold Standard	GSV -3.68% $1.83
3. Comstock	LODE -3.00% $2.91

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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