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Gold Seeker Closing Report: Gold Gains Over 1% While Dow Drops Over 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 6 January 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1093.50

+$15.00

Silver

$14.02

+$0.03

XAU

46.80

+1.36%

HUI

116.73

+2.35%

GDM

395.47

+1.63%

JSE Gold

1211.32

+57.15

USD

99.17

-0.19

Euro

107.89

+0.40

Yen

84.40

+0.40

Oil

$33.97

-$2.00

10-Year

2.177%

-0.071

T-Bond

155.5625

+1.875

Dow

16908.51

-1.47%

Nasdaq

4835.76

-1.14%

S&P

1990.26

-1.31%

 
 

 

The Metals:

 

Gold climbed higher throughout most of world trade and ended near its midafternoon high of $1094.89 with a gain of 1.39%.  Silver rose to as high as $14.127 and ended with a gain of 0.21%.

 

Euro gold rose to about €1014, platinum lost $11 to $876, and copper fell slightly to about $2.09.

 

Gold and silver equities gained roughly 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Dec

257K

190K

211K

Trade Balance

Nov

-$42.4B

-$44.7B

-$44.6B

Factory Orders

Nov

-0.2%

-0.2%

1.3%

ISM Services

Dec

55.3

56.4

55.9

 

Tomorrow brings Initial Jobless Claims expected at 270,000.

 

The Markets:

 

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

 

Oil fell over 5% after the Energy Information Administration reported that crude inventories fell 5.1 million barrels, gasoline inventories rose 10.6 million barrels, and distillates rose 6.3 million barrels.

 

The U.S. dollar index dropped in late trade and treasuries rose while the Dow, Nasdaq, and S&P fell over 1% “as China’s unexpected weakening of its currency once again raised fresh concern about the strength of the global economy.”

 

Among the big names making news in the market today were Yahoo, Chipotle, SolarCity, GM, and Apple.

 

GATA Posts:

 

 

Comex gold inventories don't matter as much as central bank inventories do

 

The Statistics:

As of close of business: 1/5/2016

Gold Warehouse Stocks:

6,457,659.393

+54,590.70

Silver Warehouse Stocks:

161,775,793.123

+25,856.529

 

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

642.368

20,652,777

US$22,531m

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$4,843m

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$5,352m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$392m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.17

937,777

US$1,022m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 152.55: -0.03 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,884.62: -4.26 change from yesterday’s data.

 

The Miners:

WINNERS

1.  Harmony

HMY +15.65% $1.33

2.  Richmont

RIC +5.00% $3.57

3.  Pretivm

PVG +4.94% $5.31

 

LOSERS

1.  Freeport

FCX -8.05% $6.17

2.  Turquoise

TRQ -5.69% $2.32

3.  Nevsun

NSU -2.59% $2.63

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 2016

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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: Wednesday, 6 January 2016 | E-Mail  | Print  | Source: GoldSeek.com

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