Gold edged up to $1759.62 in Asia before it fell back to $1749.27 in London, but it then shot to as high as $1781.60 in early afternoon New York trade and ended with a gain of 1.12%.Silver rose to $34.351 in Asia before it fell back to $33.918, but it then surged to as high as $34.49 in New York and ended with a gain of 0.12%.
Euro gold rose to about €1343, platinum gained $39.20 to $1725.20, and copper remained at about $3.83.
Gold and silver equities waffled near unchanged for most of the morning, but they then jumped higher in early afternoon New York trade and ended with over 1.5% gains.
Oil ended modestly higher on continued concerns about Iran.
The U.S. dollar index saw slight gains as the yen fell on rising U.S. yields.
Treasuries remained higher after today’s $35 billion 5-year note auction sold at a high yield of 0.9% with a bid to cover of 2.89.
The Dow, Nasdaq, and S&P fell on concerns about slow economic growth in Europe and China.
Among the big names making news in the market today were UBS, Pimco, Toll Brothers, J&J, Citigroup, and Dell.
The Statistics:
Activity from: 2/21/2012
Gold Warehouse Stocks:
11,425,114
-6,476
Silver Warehouse Stocks:
129,232,358
-49,410
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
1281.587
41,204,299
US$72,168m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
118.63
3,813,918
US$6,694m
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$6,985m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
472,756
US$802m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.76
1,278,357
US$2,235m
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.302 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.27: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,570.57: -21.15 change from yesterday’s data.
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.
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/
0.64%
-0.09%
0.43%
Gold Seeker Closing Report: Gold and Silver Jump Higher in Late Trade
Close
Gain/Loss
Gold
$1778.70
+$19.70
Silver
$34.39
+$0.04
XAU
201.28
+1.55%
HUI
545.80
+1.68%
GDM
1576.03
+1.80%
JSE Gold
2812.93
+9.20
USD
79.24
+0.18
Euro
132.46
+0.09
Yen
124.54
-0.95
Oil
$106.28
+$0.03
10-Year
2.005%
-0.040
T-Bond
142.25
+0.71875
Dow
12938.67
-0.21%
Nasdaq
2933.17
-0.52%
S&P
1357.66
-0.33%
The Metals:
Gold edged up to $1759.62 in Asia before it fell back to $1749.27 in London, but it then shot to as high as $1781.60 in early afternoon New York trade and ended with a gain of 1.12%.Silver rose to $34.351 in Asia before it fell back to $33.918, but it then surged to as high as $34.49 in New York and ended with a gain of 0.12%.
Euro gold rose to about €1343, platinum gained $39.20 to $1725.20, and copper remained at about $3.83.
Gold and silver equities waffled near unchanged for most of the morning, but they then jumped higher in early afternoon New York trade and ended with over 1.5% gains.
The Economy:
Report
For
Reading
Expected
Previous
Existing Home Sales
Jan
4.57M
4.63M
4.38M
U.S. mortgage applications sagged last week: MBA Reuters
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 2/18 expected at 355,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended modestly higher on continued concerns about Iran.
The U.S. dollar index saw slight gains as the yen fell on rising U.S. yields.
Treasuries remained higher after today’s $35 billion 5-year note auction sold at a high yield of 0.9% with a bid to cover of 2.89.
The Dow, Nasdaq, and S&P fell on concerns about slow economic growth in Europe and China.
Among the big names making news in the market today were UBS, Pimco, Toll Brothers, J&J, Citigroup, and Dell.
The Statistics:
Activity from: 2/21/2012
Gold Warehouse Stocks:
11,425,114
-6,476
Silver Warehouse Stocks:
129,232,358
-49,410
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
1281.587
41,204,299
US$72,168m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
118.63
3,813,918
US$6,694m
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$6,985m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
472,756
US$802m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.76
1,278,357
US$2,235m
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.302 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.27: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,570.57: -21.15 change from yesterday’s data.
The Miners:
Lake Shore’s (LSG) updated National Instrument ("NI") 43-101 resource estimate, Solitario’s (XPL) positive Feasibility Study results, Keegan’s (KGN) assay results, Ivanhoe’s (IVN) keynote luncheon speaker, NovaGold’s (NG) year-end financial results, Eldorado’s (EGO) PEIA approval, Pretivm’s (PVG) updated PEA, Alexco’s (AXU) drill results, and MAG Silver’s (MVG) vein intercepts were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1.Lake Shore
LSG +11.26% $1.68
2.Banro
BAA +8.76% $5.46
3.Nevsun
NSU +6.53% $4.24
LOSERS
1.Kimber
KBX -3.36% $1.15
2.Northern Dynasty
NAK -2.15% $7.28
3.Comstock
LODE -1.97% $1.99
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
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.
About Chris Mullen