• Gold: 1,488.42 -2.24
  • Silver: 17.67 0.12
  • Euro: 1.118 0.002
  • USDX: 97.19 -0.092
  • Oil: 53.93 0.27

August 7: Gold and Silver End Near Unchanged

Chris Mullen
|
Wednesday, August 7th
 

Close

Gain/Loss

Gold

$1285.10

+$1.50

Silver

$19.51

-$0.01

XAU

88.51

-0.36%

HUI

217.35

-0.73%

GDM

661.38

-0.36%

JSE Gold

1139.34

-34.33

USD

81.26

-0.34

Euro

133.40

+0.35

Yen

103.74

+1.41

Oil

$104.37

-$0.93

10-Year

2.600%

-0.042

T-Bond

133.9375

+0.78125

Dow

15470.67

-0.31%

Nasdaq

3654.01

-0.32%

S&P

1690.91

-0.38%

 
 

The Metals:

 

Gold fell to $1272.60 in London before it rebounded to as high as $1289.09 in New York, but it then fell back off in the last hour of trade and ended with a gain of just 0.12%. Silver slipped to $19.159 before it rose to as high as $19.62, but it also fell back off in late trade and ended with a loss of 0.05%.

 

Euro gold fell to under €964, platinum rose $5.50 to $1434.00, and copper climbed slightly to about $3.18.

 

Gold and silver equities saw about 1% gains for most of the day, but they then fell back off in the last hour of trade and ended with modest losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

June

$13.8B

$16.0B

$17.5B

 

U.S. mortgage applications rise, but so do rates: MBA Reuters

 

Tomorrow brings Initial Jobless Claims for 8/03 expected at 340,000.

 

The Markets:

 

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

 

Oil fell after the Energy Information Administration reported that crude inventories fell 1.3 million barrels, gasoline inventories rose 100,000 barrels, and distillates rose 500,000 barrels.

 

The U.S. dollar index fell as the pound rose after the Bank of England said its key lending rate will stick to a record low of 0.5% until the country’s unemployment rate drops to 7%.

 

Treasuries remained higher after today’s $24 billion 10-year note auction sold at a yield of 2.62% with a bid to cover of 2.45.

 

The Dow, Nasdaq, and S&P fell on worries about fed tapering.

 

Among the big names making news in the market today were BofA, AOL, Time Warner, Freddie Mac, Ralph Lauren, and Brookfield.

 

GATA Posts:

 

 

MarketWatch columnist Paul Farrell cites gold market rigging

Jan Skoyles: The nature of gold demand is changing

 

The Statistics:

As of close of business: 8/06/2013

Gold Warehouse Stocks:

7,011,570.123

Silver Warehouse Stocks:

163,914,649.655

+3,077.58

 

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

915.036

29,419,319

US$37,711m

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$5,718m

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

1,371,320

US$1,756m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.103 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:

 

Nevsun’s (NSU) second quarter results, McEwen’s (MUX) updated resource estimate, Eurasian’s (EMXX) sold assets, AngloGold’s (AU) second quarter operating results, Randgold’s (GOLD) second quarter results, Solitario’s (XPL) drill results, and Great Panther’s (GPL) new director were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Nevsun

NSU +4.59% $3.19

2. Richmont

RIC +4.00% $1.56

3. Seabridge

SA +3.63% $12.85

LOSERS

1. Allied Nevada

ANV -14.65% $3.73

2. Northern Dynasty

NAK -5.21% $2.00

3. Almaden

AAU -4.68% $1.63

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 2013

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