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Gold Seeker Closing Report: Gold and Silver Fall About 1% and 2%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 29 October 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1145.80

-$11.00

Silver

$15.60

-$0.39

XAU

52.24

-3.42%

HUI

125.50

-3.69%

GDM

420.79

-4.37%

JSE Gold

1064.68

-52.31

USD

97.28

-0.37

Euro

109.80

+0.62

Yen

82.59

-0.04

Oil

$46.06

+$0.12

10-Year

2.173%

+0.081

T-Bond

155.90625

-2.21875

Dow

17755.80

-0.13%

Nasdaq

5074.27

-0.42%

S&P

2089.41

-0.04%

 
 
 

The Metals:

 

Gold edged up to $1162.69 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.95%.  Silver slipped to as low as $15.559 and ended with a loss of 2.44%.

 

Euro gold fell to about €1044, platinum lost $10 to $988, and copper fell 5 cents to about $2.32.

 

Gold and silver equities fell about 4% by midafternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

GDP

Q3

1.5%

1.6%

3.9%

Chain Deflator

Q3

1.2%

1.3%

2.1%

Initial Claims

10/24

260K

264K

259K

Pending Home Sales

Sep

-2.3%

0.6%

-1.4%

 

Tomorrow brings Personal Income and Spending, Core PCE Prices, the Employment Cost Index, Chicago PMI, and Michigan Sentiment.

 

The Markets:

 

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

 

Oil traded mixed and the U.S. dollar index fell along with treasuries and the Dow, Nasdaq, and S&P on mixed economic data and earnings reports.

 

Among the big names making news in the market today were Conoco, Ally Financial, Virgin America, Time Warner Cable, PetroChina, Sinopec, MasterCard, Danske Bank, Bombardier, Marathon Oil, and MGM Resorts.

 

GATA Posts:

 

 

Austrian central bank won't answer questions about its exec's remark on gold intervention

 

The Statistics:

As of close of business: 10/28/2015

Gold Warehouse Stocks:

6,700,779.364

-2,989.95

Silver Warehouse Stocks:

162,098,555.728

-326,342.53

 

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

694.344

22,323,855

US$25,633m

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$5,105m

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$5,636m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$412m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

27.80

893,937

US$999m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.191 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.99: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,814.20: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) third quarter results, Lake Shore’s (LSG) third quarter results, and Northern Dynasty’s (NAK) completed acquisition of Cannon Point were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +5.36% $1.18

2.  Newmont

NEM +3.86% $19.89

3.  Barrick

ABX +1.69% $7.82

 

LOSERS

1.  New Gold

NGD-10.62% $2.44

2.  Goldcorp

GG -10.31% $13.14

3.  First Majestic

AG -7.88% $3.39

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2015

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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.


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 -- Published: Thursday, 29 October 2015 | E-Mail  | Print  | Source: GoldSeek.com

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