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Gold Seeker Closing Report: Gold and Silver Fall Modestly
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 11 January 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1095.00

-$7.50

Silver

$13.88

-$0.05

XAU

44.37

-5.78%

HUI

113.80

-4.00%

GDM

388.53

-3.50%

JSE Gold

1369.87

+114.04

USD

98.87

+0.37

Euro

108.59

-0.66

Yen

84.94

-0.36

Oil

$31.41

-$1.75

10-Year

2.158%

+0.028

T-Bond

155.59375

-0.78125

Dow

16398.57

+0.32%

Nasdaq

4637.98

-0.12%

S&P

1923.67

+0.09%

 
 
http://goldseek.com/news/GoldSeeker/2016/1-11gsr/1.jpg

 

The Metals:

 

Gold saw decent gains for most of trade in Asia, but it then chopped back lower in London and New York and ended near its late session low of $1094.43 with a loss of 0.68%.  Silver slipped to as low as $13.839 and ended with a loss of 0.36%.

 

Euro gold fell to about €1009, platinum lost $32 to $845, and copper dropped 5 cents to about $1.98.

 

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

 

The Economy:

 

Five things the U.S. stock market is worried about after last week's rout  Reuters

 

Tomorrow brings JOLTS - Job Openings data.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/1-11gsr/1.png

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

 

Oil fell over 5% on the continued outlook for ample supplies in the face of tepid demand.

 

The U.S. dollar index rose and treasuries fell on partially easing concerns about China that held the Dow, Nasdaq, and S&P near unchanged in mixed trade.

 

Among the big names making news in the market today were BMW, American Apparel, Uber, and Shire.

 

GATA Posts:

 

 

Scrap Bank of England's powers after century of boom and bust, think-tank says

Saudis told to prop up currency amid global devaluation war fears

Brookings Institution posts GATA secretary's questions to Bernanke

TF Metals Report: Another 'conspiracy theory' becomes conspiracy fact

NATO overthrew Libyan dictator to prevent gold-backed African currency

OMG -- FT prints something hopeful about gold, if for the wrong reason

 

The Statistics:

As of close of business: 1/8/2016

Gold Warehouse Stocks:

6,440,234.093

-16,075.00

Silver Warehouse Stocks:

162,613,775.871

+1,221,972.66

 

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

649.594

20,885,092

US$22,986m

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$4,875m

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$5,399m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$393m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.17

937,726

US$1,032m

 Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.463 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 160.17: +3.75 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,840.17: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) search for assets, Endeavour Mining’s (EDV.TO) delisting, Golden Star’s (GSS) production and guidance, and Coeur’s (CDE) production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  DRDGOLD

DRD +4.17% $2.00

2.  Gold Fields

GFI +1.94% $3.16

3.  McEwen

MUX +0.91% $1.11

 

LOSERS

1.  Freeport

FCX -20.33% $4.31

2.  Gold Resource

GORO-17.09% $1.31

3.  Royal Gold

RGLD-11.04%$33.44

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 2016

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 -- Published: Monday, 11 January 2016 | E-Mail  | Print  | Source: GoldSeek.com

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