• Gold: 1,515.34 -0.73
  • Silver: 17.96 0.01
  • Euro: 1.101 -0.001
  • USDX: 98.513 0.267
  • Oil: 58.45 -0.28

August 6: Gold and Silver Fall About 1%

Chris Mullen
|
Tuesday, August 6th
 

Close

Gain/Loss

Gold

$1283.60

-$17.80

Silver

$19.52

-$0.16

XAU

88.83

-5.24%

HUI

218.96

-6.01%

GDM

663.75

-5.43%

JSE Gold

1173.67

-46.53

USD

81.60

-0.26

Euro

133.09

+0.50

Yen

102.34

+0.57

Oil

$105.30

$-1.26

10-Year

2.642%

+0.002

T-Bond

133.1875

UNCH

Dow

15518.74

-0.60%

Nasdaq

3665.77

-0.74%

S&P

1697.37

-0.57%

 
 

The Metals:

 

Gold fell to as low as $1279.64 by a little before 10AM EST before it bounced back higher midday, but it still ended with a loss of 1.37%. Silver slipped to as low as $19.47 and ended with a loss of 0.82%.

 

Euro gold fell to under €965, platinum lost $17.25 to $1428.50, and copper remained at about $3.17.

 

Gold and silver equities fell over 5% by early afternoon and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Trade Balance

June

-$34.2B

-$43.4B

-$44.1B

 

US debt six times greater than declared - study RT USA

Obama Said to Call for Limited U.S. Mortgages Role Bloomberg

 

Tomorrow at 3PM EST brings Consumer Credit for June expected at $16.0 billion.

 

The Markets:

 

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

 

Oil fell after Iran expressed willingness to negotiate about its nuclear program.

 

The U.S. dollar index fell as the euro rose on a better than expected factory orders report in Germany.

 

Treasuries erased early losses after today’s $32 billion 3-year note auction sold at a yield of 0.631% with a bid to cover of 3.21.

 

The Dow, Nasdaq, and S&P fell on poor earnings reports.

 

Among the big names making news in the market today were IBM, CVS, Fonterra, Sony, Charter, Michael Kors, and Washington Post.

 

GATA Posts:

 

 

From NSA surveillance straight to NY Fed's trading desk: Cueing the gold market

Half the gold world is suing Barrick; the other half wants Barrick to buy them out

Jan Skoyles: Can you control gold demand? -- Part 1

 

The Statistics:

As of close of business: 8/05/2013

Gold Warehouse Stocks:

7,011,570.123

-

Silver Warehouse Stocks:

163,911,572.075

-171,282.36

 

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) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

917.139

29,486,938

US$37,739m

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

Gold Bullion Securities

138.13

4,441,056

US$5,712m

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

ETFS Physical Gold

152.66

4,908,200

US$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$461m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.65

1,371,335

US$1,789m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.502 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 178.36: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,396.73: No change from yesterday’s data.

 

The Miners:

 

Allied Nevada’s (ANV) second quarter results, B2Gold’s (BTG) second quarter gold production, and Bear Creek’s (BCM.V) COO promotion were among the big stories in the gold and silver mining industry making headlines today.

 

WINNER

1. Freeport

FCX +0.48% $29.16

LOSERS

1. Allied Nevada

ANV -25.93% $4.37

2. Pretivm

PVG -12.20% $7.27

3. Timmins

TGD -10.63% $1.85

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

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2013

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.

Your rating: None Average: 5 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map