• Gold: 1,223.80 0.57
  • Silver: 14.42 0.01
  • Euro: 1.146 0.000
  • USDX: 96.165 -0.3
  • Oil: 57.2 0.12

January 28: Gold and Silver End Barely Lower

Chris Mullen
|
Tuesday, January 28th
 

Close

Gain/Loss

Gold

$1254.10

-$1.00

Silver

$19.58

-$0.05

XAU

91.14

+1.74%

HUI

216.78

+1.84%

GDM

648.67

+1.76%

JSE Gold

1234.17

-35.93

USD

80.55

+0.07

Euro

136.68

-0.08

Yen

97.22

-0.33

Oil

$97.41

+$1.69

10-Year

2.746%

-0.020

Bond

132.59375

+0.25

Dow

15928.56

+0.57%

Nasdaq

4097.96

+0.35%

S&P

1792.50

+0.61%

 
 

The Metals:

 

Gold popped up to $1261.39 in early New York trade before it fell back off into midmorning, but it then bounced back higher in the last few hours of trade and ended with a loss of just 0.08%. Silver slipped to as low as $19.488 and ended with a loss of 0.25%.

 

Euro gold fell to about €917, platinum remained at $1405.70, and copper fell a couple of cents to about $3.25.

 

Gold and silver equities traded mostly slightly higher and ended with almost 2% gains.

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

Dec

-4.3%

2.1%

2.6%

Durable Goods -ex trans.

Dec

-1.6%

0.6%

0.1%

Case-Shiller 20-city Index

Nov

13.7%

13.8%

13.6%

Consumer Confidence

Jan

80.7

77.5

77..5

 

Tomorrow at 2PM EST brings a FOMC rate decision.

 

The Markets:

 

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

 

Oil climbed higher on continued cold weather that raised demand expectation.

 

The U.S. dollar index edged higher as the yen continued to fall ahead of tomorrow’s fed meeting.

 

Treasuries turned up after today’s $32 billion 2-year note auction sold at a yield of 0.38% with a bid to cover of 3.3.

 

The Dow, Nasdaq, and S&P traded mostly higher on a better than expected Consumer Confidence reading.

 

Among the big names making news in the market today were J.C. Penney, Apple, Martin Marietta, AIG, Comcast, Jefferies, DuPont, and D.R. Horton.

 

GATA Posts:

 

 

Richard Russell: A gold-backed yuan or a debt-backed Federal Reserve note?

Gold flows east as bars recast for Chinese defy slump

 

The Statistics:

Activity from: 1/27/2014

Gold Warehouse Stocks:

7,141,230.857

-321,500.00

Silver Warehouse Stocks:

179,535,826.541

+551,983.018

 

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

790.456

25,413,962

US$31,787m

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$5,562m

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$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.25

1,326,303

US$1,672m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.37: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,029.22: No change from yesterday’s data.

 

The Miners:

 

Franco-Nevada’s (FNV) updates, Allied Nevada’s (ANV) metallurgical test program, and Richmont’s (RIC) increase in its indicated and inferred gold resources were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Avino

ASM +6.76% $1.516

2. Rubicon

RBY +6.09% $1.22

3. Endeavour Silver

EXK +4.85% $4.32

LOSERS

1. Tanzanian Royalty

TRX -4.74% $1.81

2. Comstock

LODE -1.07% $1.85

3. Rio Alto

RIOM -1.00% $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

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© Gold Seeker 2014

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