• Gold: 1,213.13 -1.47
  • Silver: 17.18 -0.01
  • Euro: 1.262 -0.000
  • USDX: 85.907 -0.025
  • Oil: 90.77 -0.48

Gold Seeker Closing Report: Gold and Silver End With Modest Gains

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January 11, 2012 - 7:36pm
 

Close

Gain/Loss

Gold

$1641.20

+$9.70

Silver

$29.91

+$0.03

XAU

193.05

+0.70%

HUI

522.01

-1.09%

GDM

1507.99

-0.18%

JSE Gold

2889.87

-49.14

USD

81.31

+0.43

Euro

127.07

-0.68

Yen

130.03

-0.14

Oil

$100.87

-$1.37

10-Year

1.904%

-0.068

T-Bond

144.00

+1.15625

Dow

12449.45

-0.10%

Nasdaq

2710.76

+0.31%

S&P

1292.48

+0.03%

 
 

 

The Metals:

 

Gold rose almost 1% to $1647.07 in Asia before it fell back to nearly unchanged at $1633.66 near the open of trade in New York, but it then chopped its way higher for most of the rest of trade and ended with a gain of 0.59%.Silver saw an over 1% gain at $30.265 in Asia before it fell to see an over 1% loss at $29.564 in early New York trade, but it also chopped its way back higher for most of the rest of trade and ended with a gain of 0.1%.

 

Euro gold climbed to almost €1292, platinum gained $29.50 to $1487.30, and copper gained another few cents to about $3.54.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

China’s Gold Imports From Hong Kong Climb to Record on Investment Demand Bloomberg

 

The Economy:

 

Mortgage demand fell at year-end, purchases sag Reuters

Bernanke Doubles Down on Fed Mortgage Bet Bloomberg

 

The Fed's Beige Book noted that “economic expansion improved last month across most of the country while hiring was limited and housing remained stagnant.”

 

Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/07 expected at 375,000 and Retail Sales for December expected at 0.4%.Excluding autos, sales are expected at 0.3%.At 10AM is the Business Inventories report for November expected at 0.5%, and at 2PM is the Treasury Budget for December expected at -$84.0 billion.

 

The Markets:

 

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

 

Oil remained lower after the Energy Information Administration reported that crude inventories rose 5.0 million barrels, gasoline inventories rose 3.6 million barrels, and distillates rose 4.0 million barrels.

 

The U.S. dollar index and treasuries rose on worries about European credit ratings, debt auctions, and tomorrow’s European Central Bank meeting that sent the euro lower.Today’s $21 billion 10-year note auction sold at a high yield of 1.90% with a bid to cover of 3.19.

 

The Dow, Nasdaq, and S&P waffled near unchanged on concern about Europe.

 

Among the big names making news in the market today were Hostess, NYSE-Deutsche Boerse, Amazon, Health Management, Blackstone and DDR, and Kodak.

 

GATA Posts:

 

 

Real metal costs more than paper gold, Turk tells Tekoa Da Silva

GATA board member Ed Steer interviewed by Dave Janda

 

The Statistics:

Activity from: 1/10/2012

Gold Warehouse Stocks:

11,460,151

-32

Silver Warehouse Stocks:

123,924,789

+275,303

 

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$65,896m

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$6,097m

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$6,672m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

472,981

US$751m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.99

1,317,810

US$

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 171.84: +0.84 change from yesterday’s data.

 

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

 

The Miners:

 

Richmont’s (RIC) Board appointment, Tanzanian Royalty’s (TRX) amended warrants, Kimber’s (KBX) new COO, SEMAFO’s (SMF.TO) 2011 production, ITH’s (THM) Board appointment, Aurizon’s (AZK) 2011 production and 2012 plans, Brigus Gold’s (BRD) assay results, IMPACT’s (IPT.V) construction of the new Capire Open Pit Silver Mine, Revett’s (RVM) ringing of the closing bell, Hecla’s (HL) mine closure, Paramount’s (PZG) drill results, Silver Bull’s (SVBL) drill results, Golden Minerals’ (AUMN) operational improvements, and International Minerals’ (IMZ.TO) positive results for its independent Feasibility study were among big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.Solitario

XPL +8.94% $1.67

2.Almaden

AAU +7.12% $2.86

3.Pan American

PAAS+7.04% $24.48

 

 

LOSERS

1.Hecla

HL -21.06% $4.61

2.Loncor

LON -7.14% $1.69

3.Avino

ASM-4.42% $1.71

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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©Gold Seeker 2012

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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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