-- Posted 14 October, 2011 | |
| Close | Gain/Loss | On Week |
Gold | $1681.30 | +$14.30 | +2.75% |
Silver | $32.13 | +$0.35 | +3.41% |
XAU | 197.77 | +3.30% | +5.51% |
HUI | 555.92 | +3.07% | +5.75% |
GDM | 1605.68 | +2.95% | +5.46% |
JSE Gold | 2746.36 | +11.63 | +1.41% |
USD | 76.60 | -0.33 | -2.67% |
Euro | 138.80 | +1.04 | +3.75% |
Yen | 129.51 | -0.61 | -0.67% |
Oil | $86.80 | +$2.57 | +4.60% |
10-Year | 2.232% | +0.063 | +7.93% |
Bond | 138.40625 | -1.125 | -2.06% |
Dow | 11644.49 | +1.45% | +4.88% |
Nasdaq | 2667.85 | +1.82% | +7.60% |
S&P | 1224.58 | +1.74% | +5.98% |
The Metals:
Gold climbed $16.60 to $1683.60 by about 9:15AM EST before it fell back to almost unchanged by late morning in New York, but it then rallied back higher in afternoon trade and ended with a gain of 0.86%. Silver rose to as high as $32.52 before it also fell back near unchanged, but it too rallied back higher in late trade and ended with a gain of 1.1%.
Euro gold rose to about €1213, platinum gained $17.50 to $1547.75, and copper gained another 10 cents to about $3.40.
Gold and silver equities rose about 3% by early afternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Retail Sales | Sep | 1.1% | 0.6% | 0.3% |
Retail Sales ex-auto | Sep | 0.6% | 0.3% | 0.5% |
Export Prices | Sep | 0.4% | - | 0.5% |
Export Prices ex-ag. | Sep | 0.3% | - | 0.3% |
Import Prices | Sep | 0.3% | - | -0.2% |
Import Prices ex-oil | Sep | 0.2% | - | 0.2% |
Michigan Sentiment | Oct | 57.5 | 60.0 | 59.4 |
Business Inventories | Aug | 0.5% | 0.4% | 0.5% |
Treasury Budget | Sep | -$64.6B | -$67.0B | -$34.6B |
All of this week’s other economic reports:
Next week’s economic highlights include Empire Manufacturing, Industrial Production, and Capacity Utilization on Monday, PPI and Net Long-Term TIC Flows on Tuesday, CPI, Housing Starts, Building Permits, and the fed’s Beige Book on Wednesday, and Initial Jobless Claims, Existing Home Sales, the Philadelphia Fed, and Leading Economic Indicators on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as the U.S. dollar index and treasuries fell on decent economic and company news that sent the Dow, Nasdaq, and S&P over 1% higher.
Among the big names making news in the market Friday were Mattel, BlackBerry, News Corp, Google, and BMW.
The Commentary:
“The battle for $1680 is increasing in intensity as bears dig in to prevent what they know will be a defeat if they allow the metal to move convincingly through this level.
The factor allowing them to push a bit harder against the bulls today [Thursday] (and unnerving the bulls somewhat) was increasing doubts concerning the European bank recapitalization plan.
Get used to this - One might as well pick a Flowering Daisy and pull the petals one at a time: "She loves me; she loves me not".
That is what "investing" has been degraded to nowadays.
Tomorrow brings the end of the trading week. If gold can go out over $1680 into the weekend, it will be "GAME ON" for the bulls. If not, we remain trapped in the range trade that has been the model for the last few weeks.
Silver was whacked for a 3% loss today as the Risk Aversion trades came back on the heels of the concern over the European bank plan deal. If the trading contingent feels differently about that plan tomorrow, it will just as likely take back all of today's losses and then some. Again, get your Daisy flower and start picking off the petals. Some business isn't it???
Either way, it too reinforces $32.50 as the resistance barrier that must be taken out and held to get something going to the upside in the Silver market.
The HUI is no help whatsoever to the metals and will not be until it clears the 50% Fibonacci retracement level near 560 and holds it. Until it does, it is checkmated and in a range trade.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
Kevin Michael Grace: Auguries -- Fort Potemkin
The Statistics:
Activity from: 10/13/2011
Gold Warehouse Stocks: | 11,116,930 | -450 |
Silver Warehouse Stocks: | 106,438,018 | +353,035 |
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 | 1227.511 | 39,465,716 | US$66,212m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.35 | 3,708,632 | US$6,201m |
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$6,790m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,457 | US$765m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 43.69 | 1,404,681 | US$2,326m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,948 | US$8m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.483 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.70: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,954.27: No change from yesterday’s data.
The Miners:
WINNERS
1. Minco Gold | MGH+12.73% $1.24 |
2. Ivanhoe | IVN +7.82% $18.19 |
3. Claude | CGR +7.07% $1.83 |
LOSERS
1. Great Panther | GPL -3.88% $2.48 |
2. Banro | BAA -1.17% $4.23 |
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:
Sharprock Resources Signs Exclusive MOU for Russian Project - More
- October 14, 2011 | Item | ShareThis
Worldwide Announces Name Change to Black Smoker Ventures Inc. - More
- October 14, 2011 | Item | ShareThis
Arctic Star Exploration Corp. Announces Airborne Surveys Completed - More
- October 14, 2011 | Item | ShareThis
Iamgold May Spend as Much as $1 Billion on Gold Acquisitions in Americas - "Iamgold Corp. (IMG), a Canadian gold and niobium producer, is looking for acquisitions and may spend as much as $1 billion to add gold assets.
The miner will focus its search in the Americas, and will also consider deals in West Africa, spokesman Bob Tait said in an interview yesterday at Iamgold’s Toronto headquarters." More
- October 14, 2011 | Item | ShareThis
Maya Gold & Silver Announces 6.3M CAD Private Placement - More
- October 14, 2011 | Item | ShareThis
Gryphon Gold Begins Production, Ships Loaded Carbon - More
- October 14, 2011 | Item | ShareThis
Victoria & First Nation of Na-Cho Nyak Dun Sign Comprehensive Cooperation Benefits Agreement, Eagle Gold Deposit, Yukon - More
- October 14, 2011 | Item | ShareThis
Excalibur Commences Cariboo Gold Property Exploration Program - More
- October 14, 2011 | Item | ShareThis
Crazy Horse Resources Inc. Files Updated Resource Estimate Moving 411 Mt Into Indicated Category - More
- October 14, 2011 | Item | ShareThis
Red Crescent Provides Geological and Exploration Update on Hakkari Zinc - More
- October 14, 2011 | Item | ShareThis
REBgold Extends Terms of Convertible Debentures and Warrants - More
- October 14, 2011 | Item | ShareThis
Savant Explorations Ltd. Announces Board Changes and Granting of Options to Officers and Directors - More
- October 14, 2011 | Item | ShareThis
Trevali Finalizes Halfmile Mine Project Toll-Milling and Concentrate Offtake Agreement With Xstrata - More
- October 14, 2011 | Item | ShareThis
Unigold Announces Private Placement Financing - More
- October 14, 2011 | Item | ShareThis
Strathmore Updates Mine Permitting and Mill Licensing Activities at Roca Honda Uranium Development Project, New Mexico - More
- October 14, 2011 | Item | ShareThis
Choice Gold Corp. Completes Listing on Munich Stock Exchange - More
- October 14, 2011 | Item | ShareThis
Goldeye Mobilizes Crews to Gold Rock Property Adjacent to the Recent Manitou Gold Discovery - More
- October 14, 2011 | Item | ShareThis
BE Resources Completes Review of Overall Strategy - More
- October 14, 2011 | Item | ShareThis
Quadra FNX Announces a 9% Increase in Q3 2011 Copper Production - More
- October 14, 2011 | Item | ShareThis
Quadra FNX and Xstrata Nickel to Create an Access Arrangement on the Craig Mine - More
- October 14, 2011 | Item | ShareThis
Northland Strengthens its Kaunisvaara Operational Management Team - More
- October 14, 2011 | Item | ShareThis
Canaco Drills 35.0 Metres at 6.45 Grams Per Tonne Gold in the Western Lodes and 55.3 Metres at 3.19 Grams Per Tonne Gold on the Magambazi Main Lode - More
- October 14, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 14 October, 2011 | |
