• Gold: 1,671.83 28.32
  • Silver: 18.77 0.28
  • Euro: 1.085 0.000
  • USDX: 99.224 -0.113
  • Oil: 50.77 -2.67

Gold Seeker Closing Report: Gold and Silver Jump Higher in Late Trade

|
February 22, 2012 - 4:15pm

 

 

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

- 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 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.

 

Your rating: None Average: 5 (1 vote)

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/

Article Comments

Sponsored Links

Live SilverSeek Map