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Gold Seeker Closing Report: Gold Gains Over $20 and Silver Surges to A New 30-Year Closing High

By: Chris Mullen, Gold-Seeker.com


-- Posted 28 December, 2010 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1404.70

+$22.40

Silver

$30.25

+$1.01

XAU

224.89

+1.99%

HUI

570.15

+2.61%

GDM

1695.69

+2.62%

JSE Gold

2672.68

-4.36

USD

80.37

+0.06

Euro

131.18

-0.52

Yen

121.26

+0.50

Oil

$91.49

+$0.49

10-Year

3.481%

+0.130

T-Bond

119.34375

-1.90625

Dow

11575.54

+0.18%

Nasdaq

2662.88

-0.16%

S&P

1258.51

+0.08%

 
 

 

The Metals:

 

Gold climbed higher throughout most of world trade and ended near its early afternoon high of $1406.15 with a gain of 1.62%.  Silver climbed to as high as $30.313 and closed with a gain of 3.45%.

 

Euro gold climbed to almost €1072, platinum gained $10.75 to $1745.50, and copper gained another 5 cents to a new all-time high at about $4.32.

 

Gold and silver equities rose over 2% by midmorning and remained near their highs into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Oct

-0.8%

0.1%

0.44%

Consumer Confidence

Dec

52.5

56.1

54.3

 

Tomorrow brings MBA Mortgage Applications for 12/24.

 

The Markets:

 

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

 

Oil rose on expectations for increased demand from cold weather.

 

The U.S. dollar index reversed early losses and ended slightly higher as the euro fell on renewed worries about sovereign debt problems and slow economic growth in Europe.

 

Treasuries added to early losses and ended markedly lower after today’s $35 billion 5-year note auction sold at a high yield of 2.149% with a bid to cover of 2.61.

 

The Dow, Nasdaq, and S&P waffled near unchanged in lackluster trade.

 

Among the big names making news in the market today were GM and Allstate.

 

GATA Posts:

 

 

Class action against Morgan, HSBC specifies silver manipulation mechanism

Strong foreign banks splurged on, profited from Fed's emergency credit

GATA's lawsuit for Fed's gold documents slogs on

 

The Statistics:

Activity from: 12/22/2010

Gold Warehouse Stocks:

11,652,728

-994

Silver Warehouse Stocks:

105,108,972

-

TODAY’S NYMEX METAL REPORTS WILL NOT BE RELEASED, DUE TO WEATHER IN THE NEW YORK AREA.   HOWEVER, REPORTS WILL RESUME TOMORROW AT THEIR NORMALLY SCHEDULED TIME.

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

1284.973

41,313,158

US$57,015m

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

Gold Bullion Securities

123.23

3,961,873

US$5,479m

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

ETFS Physical Gold

132.02

4,244,573

US$5,870m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,998

US$643m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

50.99

1,639,481

US$2,252m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,964

US$7m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 117.18 - No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,903.34 - No change from yesterday’s data.

 

The Miners:

WINNERS

1.  Timberline

TLR +18.6% $1.02

2.  Mines MGMT

MGN+16.86% $4.09

3.  Minco Gold

MGH +12.8% $2.82

 

LOSER

1.  Freeport

FCX-0.28% $118.28

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

Crown Gold Announces Changes in Terms for Two Series of Warrants Issued by Gold Summit - More
- December 28, 2010 | Item | ShareThis


Iron Mining Group, Inc. Closes a $3.3 Million Convertible Bridge Financing - More
- December 28, 2010 | Item | ShareThis


Royal Standard Plans to Complete a $15 Million Secured Loan Facility - More
- December 28, 2010 | Item | ShareThis


Glass Earth Closes First Tranche of $4 Million Placement; Adds Program to Improve Liquidity - More
- December 28, 2010 | Item | ShareThis


General Metals Receives Regulatory Approval for Forward Split - More
- December 28, 2010 | Item | ShareThis


California Gold Corp. Announces Closing of Its Private Placement and Decision To Move Forward With Its Acquisition of up to an Eighty Percent Interest - More
- December 28, 2010 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2010

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.


-- Posted 28 December, 2010 | |


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