• Gold: 1,215.52 -1.96
  • Silver: 17.82 -0.07
  • Euro: 1.282 -0.001
  • USDX: 84.796 0.53
  • Oil: 91.77 -0.14

Gold Seeker Closing Report: Gold and Silver End Mixed

|
January 9, 2012 - 5:19pm
 

Close

Gain/Loss

Gold

$1609.10

-$7.20

Silver

$28.91

+$0.22

XAU

188.03

+0.46%

HUI

519.78

+0.41%

GDM

1488.26

+0.48%

JSE Gold

2942.64

-23.61

USD

80.95

-0.29

Euro

127.73

+0.60

Yen

130.17

+0.24

Oil

$101.31

-$0.25

10-Year

1.960%

-0.001

T-Bond

142.90625

-0.125

Dow

12392.69

+0.27%

Nasdaq

2676.56

+0.09%

S&P

1280.70

+0.23%

 
 

 

The Metals:

 

Gold climbed $7.07 to $1623.37 in Asia, but it then fell to as low as $1606.29 in New York and ended with a loss of 0.45%.Silver surged to as high as $29.21 by a little after 9AM EST before it also fell back off in New York, but it still ended with a gain of 0.77%.

 

Euro gold fell to about €1260, platinum gained $26.20 to $1423.50, and copper fell a couple of cents to about $3.41.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

Gold Could Hit $1,940 an ounce in ’12: Goldman Bloomberg

Gold Seen Extending Best Rally Since 1920 on Europe Crisis, Reliance Says Bloomberg

South Africa’s Gross Reserves Decline as Gold Price Drops, Dollar Advances Bloomberg

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Nov

$20.4B

$7.0B

$60.B

 

Tomorrow at 10AM brings Wholesale Inventories for November expected at 0.6%.

 

The Markets:

 

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

 

Oil fell on easing worries over Iran and the possible closing of the Strait of Hormuz.

 

The U.S. dollar index fell as the Dow, Nasdaq, and S&P rose on relative calm in Europe and hopes for strong earnings reports.

 

Treasuries waffled near unchanged in quiet trade.

 

Among the big names making news in the market today were Google, Alcoa, Ford, GM, Chrysler, and Idenix.

 

GATA Posts:

 

 

Hinde Capital report on Europe: Should I stay or should I go?

Swiss central bank chairman quits over wife's currency trade

The buzz builds: Reuters columnist rationalizes 'financial repression'

Gene Arensberg: Silver, you ain't seen nothin' yet

Alasdair Macleod: Financial repression

 

The Statistics:

Activity from: 1/06/2012

Gold Warehouse Stocks:

11,460,882

-32,090

Silver Warehouse Stocks:

121,887,697

-414,993

 

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

1254.570

40,335,691

US$65,111m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.35

3,708,632

US$5,966m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.23

4,058,350

US$6,528m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

472,992

US$734m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.99

1,317,882

US$2,107m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 171.00: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,516.75: No change from yesterday’s data.

 

The Miners:

 

Midway’s (MDW) Development Stage qualification, ITH’s (THM) new Alaska General Manager, Goldcorp’s (GG) dividend and production and cash cost guidance, AuRico’s (AUQ) exploration update, Eldorado’s (EG) operating results and guidance, Pretivm’s (PVG.TO) listing on the NYSE, Minefinders’ (MFN) production and sales results for the quarter, and SilverCrest’s (SVL.V) retired loan facility were among big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.Loncor

LON+11.88% $1.79

2.Comstock

LODE+6.74% $1.90

3.Lake Shore

LSG +6.25% $1.53

 

 

LOSERS

1.Solitario

XPL -5.70% $1.49

2.Mines MGMT

MGN -3.94% $1.95

3.Gold Reserve

GRZ -3.51% $2.75

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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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.

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About Chris Mullen

Chris Mullen has been the Chief Content Manager of GoldSeek.com, SilverSeek.com, UraniumSeek.com, GoldReview.com, CapitalUpdates.com, and Gold-Seeker.com since 2004. Sign up for free email lists from these sites at http://email.goldseek.com/

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