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

 -- Published: Monday, 1 February 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1129.20

+$11.90

Silver

$14.35

+$0.08

XAU

47.36

+3.05%

HUI

124.55

+3.10%

GDM

405.64

+2.92%

JSE Gold

1506.53

+80.25

USD

99.00

-0.57

Euro

108.91

+0.60

Yen

82.61

+0.05

Oil

$31.62

-$2.00

10-Year

1.966%

+0.035

T-Bond

160.75

-0.28125

Dow

16449.18

-0.10%

Nasdaq

4620.36

+0.14%

S&P

1939.38

-0.04%

 
 

 

The Metals:

 

Gold chopped higher throughout most of world trade and ended near its late session high of $1129.68 with a gain of 1.07%.  Silver rose to as high as $14.414 and ended with a gain of 0.56%.

 

Euro gold rose above €1036, platinum gained $1 to $869, and copper remained at about $2.06.

 

Gold and silver equities rose over 3% in the first 40 minutes of trade before they fell back off a bit into midday, but they then bounced back higher in the last few hours of trade and ended near their highs of the session.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Dec

0.3%

0.2%

0.3%

Personal Spending

Dec

0.0%

0.2%

0.5%

Core PCE Prices

Dec

0.0%

0.1%

0.2%

Construction Spending

Dec

0.1%

0.5%

-0.6%

ISM Index

Jan

48.2

48.3

48.0

 

Fischer Says Fed's Next Decision Unclear Amid Global Uncertainty  Bloomberg

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil closed 6% lower on weak economic data and lost confidence over a deal with OPEC for production cuts.

 

The U.S. dollar index dropped on dovish fed commentary.

 

Treasuries fell after US economic data was not as weak as reports out of China and the rest of the world.

 

The Dow, Nasdaq, and S&P saw significant losses in early trade, but they then climbed back higher for most of the rest of the day and ended near unchanged after Fischer’s dovish comments.

 

Among the big names making news in the market today were Barclays, Credit Suisse, and Google-parent Alphabet Inc.

 

GATA Posts:

 

 

Bron Suchecki: A mystery gold depositor at the New York Fed

Bron Suchecki: LBMA silver 'price' -- a perfect storm of stupidity

 

The Statistics:

As of close of business: 1/29/2016

Gold Warehouse Stocks:

6,430,863.553

+3,824.85

Silver Warehouse Stocks:

156,239,147.692

-2,026,488.23

 

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

669.229

21,516,385

US$24,230m

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$4,998m

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$5,525m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$405m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,510

US$1,057m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.45: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,626.86: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend and private placement with Gold Standard (GSV) and Taseko’s (TGB) completed credit facility were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  McEwen

MUX +8.57% $1.33

2.  Yamana

AUY +7.65% $1.83

3.  DRDGOLD

DRD +7.14% $3.00

 

LOSERS

1.  Nevsun

NSU -2.23% $2.63

2.  NovaGold

NG -1.90% $4.13

3.  Coeur

CDE -0.90% $2.19

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

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: Monday, 1 February 2016 | E-Mail  | Print  | Source: GoldSeek.com

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