• Gold: 1,287.24 -0.08
  • Silver: 19.46 -0.02
  • Euro: 1.313 -0.001
  • USDX: 82.736 0.259
  • Oil: 95.86 1.33

Gold Seeker Closing Report: Gold and Silver Gain Almost 1%

|
January 5, 2012 - 5:17pm
 

Close

Gain/Loss

Gold

$1622.10

+$10.40

Silver

$29.28

+$0.13

XAU

189.02

-0.17%

HUI

522.64

+0.23%

GDM

1494.54

+0.25%

JSE Gold

2903.53

-68.55

USD

80.91

+0.83

Euro

127.86

-0.59

Yen

129.54

-0.71

Oil

$101.81

-$1.41

10-Year

1.993%

-0.002

T-Bond

142.28125

-0.125

Dow

12415.70

-0.02%

Nasdaq

2669.86

+0.81%

S&P

1281.06

+0.29%

 
 

 

The Metals:

 

Gold climbed up to $1625.51 in Asia before it fell back to $1596.75 by about 9:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.65%.Silver rose to $29.638 in Asia before it fell back to $28.724 in early New York trade, but it also rallied back higher into the close and ended with a gain of 0.45%.

 

Euro gold rose to about €1270, platinum lost $2.80 to $1412.20, and copper fell slightly to about $3.42.

 

Gold and silver equities fell almost 2% at the open, but they then rallied back higher for most of the rest of trade and ended near unchanged.

 

HSBC lowers 2012 gold forecast 9% to $1,850/oz MarketWatch

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Dec

325K

180K

204K

Initial Claims

12/31

372K

375K

387K

ISM Services

Dec

52.6

53.0

52.0

 

Rate on 30-year mortgage down to record 3.91 pct. Yahoo

December sales rise, but discounts hurt profits Reuters

U.S. Apartment Vacancies Decline to a Decade Low of 5.2%, Rents Increase Bloomberg

 

Tomorrow at 8:30AM EST brings December’s jobs data.Nonfarm Payrolls are expected at 150,000, the Unemployment Rate is expected at 8.7%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.3.

 

The Markets:

 

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

 

Oil fell after inventories surprisingly rose.The Energy Information Administration reported that crude inventories rose 2.2 million barrels, gasoline inventories rose 2.5 million barrels, and distillates rose 3.2 million barrels.

 

The U.S. dollar index rose as the euro fell “on concerns about euro zone sovereign funding and signs of weakness in the region's banks.”

 

Treasuries waffled near unchanged along with the Dow, Nasdaq, and S&P as traders awaited tomorrow’s jobs data.

 

Among the big names making news in the market today were Kodak, J.C. Penney, and Boeing.

 

GATA Posts:

 

 

Gartman admits a bad call on gold, but that's not GATA's grievance

GoldSeek Radio interviews GATA Chairman Bill Murphy

Gold Newsletter's Lundin credits GATA in Resource Clips interview

Swiss central banker dumped francs on eve of devaluation

 

The Statistics:

Activity from: 1/04/2012

Gold Warehouse Stocks:

11,493,745

+31,471

Silver Warehouse Stocks:

121,125,515

+2,019,191

 

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$64,468m

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$6,004m

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$6,571m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

473,013

US$741m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.99

1,317,897

US$2,126m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 171.00: -0.03 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,546.99: -58.80 change from yesterday’s data.

 

The Miners:

 

Eldorado’s (EGO) plant startup, Newmont’s (NEM) community investment programs, Golden Star’s (GSS) preliminary fourth quarter production results, Seabridge’s (SA) Vice President of Corporate Affairs appointment, SilverCrest’s (SVL.V) initial resource estimation, and Silver Standard’s (SSRI) Chief Financial Officer appointment were among big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.Loncor

LON +4.73% $1.55

2.Gold Resource

GORO+4.08% $24.48

3.Exeter

XRA +3.77% $3.03

 

 

LOSERS

1.Solitario

XPL -8.00% $1.38

2.Timmins

TGD -4.39% $1.96

3.Golden Star

GSS -2.78% $1.75

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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