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Brazil, China, Turkey & Greece - In situ: +15 million oz Gold
Message: Gold and silver fall 2% and 4%
Tapering talk generally means a lower gold price and a lower stock price. Better days will come.
December 12: Gold and Silver Fall About 2% and 4%
Chris Mullen
|
Thursday, December 12th
|
Close |
Gain/Loss |
|
|
Gold |
$1226.50 |
-$26.40 |
|
Silver |
$19.52 |
-$0.79 |
|
XAU |
81.78 |
-1.26% |
|
HUI |
195.28 |
-1.06% |
|
GDM |
578.36 |
-0.93% |
|
JSE Gold |
1028.00 |
-71.82 |
|
USD |
80.20 |
+0.31 |
|
Euro |
137.49 |
-0.38 |
|
Yen |
96.76 |
-0.85 |
|
Oil |
$97.50 |
+$0.06 |
|
10-Year |
2.877% |
+0.033 |
|
T-Bond |
130.59375 |
-0.375 |
|
Dow |
15739.43 |
-0.66% |
|
Nasdaq |
3998.40 |
-0.14% |
|
S&P |
1775.50 |
-0.38% |
The Metals:
Gold fell $28.53 to $1224.37 at about 1:30PM EST before it bounced back higher into the close, but it still ended with a loss of 2.11%. Silver slipped to as low as $19.435 and ended with a loss of 3.89%.
Euro gold fell to about €892, platinum lost $24.30 to $1358.70, and copper fell slightly to about $3.30.
Gold and silver equities fell about 3% in the first fifteen minutes of trade before they fought back higher for most of the rest of the day, but they still ended with about 1% losses.
|
Report |
For |
Reading |
Expected |
Previous |
|
Initial Claims |
12/07 |
368K |
315K |
300K |
|
Retail Sales |
Nov |
0.7% |
0.6% |
0.6% |
|
Retail Sales ex-auto |
Nov |
0.4% |
0.3% |
0.5% |
|
Export Prices |
Nov |
0.1% |
- |
-0.6% |
|
Export Prices ex-ag. |
Nov |
0.1% |
- |
-0.6% |
|
Import Prices |
Nov |
-0.6% |
- |
-0.6% |
|
Import Prices ex-oil |
Nov |
0.0% |
- |
0.1% |
|
Business Inventories |
Oct |
0.7% |
0.3% |
0.6% |
Tomorrow at 8:30AM EST brings PPI for November expected at -0.1%. Core PPI is expected at 0.1%
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