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

 -- Published: Wednesday, 3 February 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1142.10

+$12.50

Silver

$14.65

+$0.34

XAU

50.01

+8.15%

HUI

132.62

+8.55%

GDM

424.71

+6.35%

JSE Gold

1553.47

+77.24

USD

97.19

-1.64

Euro

111.12

+1.94

Yen

84.88

+1.50

Oil

$32.28

+$2.40

10-Year

1.881%

+0.017

T-Bond

162.3125

-0.71875

Dow

16336.66

+1.13%

Nasdaq

4504.23

-0.28%

S&P

1912.53

+0.50%

 
 

 

The Metals:

 

Gold fell $5.21 to $1124.39 in Asia, but it then climbed to as high as $1145.44 in afternoon New York trade and ended with a gain of 1.11%.  Silver soared to as high as $14.791 and ended with a gain of 2.38%.

 

Euro gold fell to about €1028, platinum gained $25 to $878, and copper climbed 4 cents to about $2.10.

 

Gold and silver equities climbed higher throughout most of trade and ended with roughly 7% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Jan

205K

190K

267K

ISM Services

Jan

53.5

55.0

55.8

 

Fed's Dudley to MNI: Tightening financial conditions a concern Reuters

 

Tomorrow brings Initial Jobless Claims, Productivity, Unit Labor Costs, and Factory Orders.

 

The Markets:

 

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

 

Oil jumped 8% higher on word that Russia is still talking to OPEC about possible production cuts.

 

The U.S. dollar index fell markedly on Dudley’s dovish commentary.

 

Treasuries fell on relief over oil’s rebound.

 

The Dow, Nasdaq, and S&P traded mixed as economic worries were offset by strength in the energy sector.

 

Among the big names making news in the market today were Comcast, GM, IAC, Barclays, and Merck.

 

GATA Posts:

 

 

Japanese central banker claims omnipotence for devaluing currency

China's gold production falls as demand rises

TF Metals Report: Connecting the Comex dots

 

The Statistics:

As of close of business: 2/2/2016

Gold Warehouse Stocks:

6,515,752.918

-11,560.635

Silver Warehouse Stocks:

156,274,272.942

+34,112.66

 

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

685.590

22,042,391

US$24,943m

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$5,057m

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$5,588m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$410m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,489

US$1,063m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.165 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.86: +0.41 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,622.82: -4.04 change from yesterday’s data.

 

The Miners:

 

AuRico’s (AMI.TO) year-end results, Comstock’s (LODE) permit approvals, Kirkland’s (KGI.TO) one millionth ounce from the Macassa Mine Complex, and Santacruz Silver’s (SCZ.V) operating results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Yamana

AUY +12.22% $2.02

2.  Richmont

RIC +11.63% $4.03

3.  Freeport

FCX +11.49% $4.85

 

LOSER

1.  McEwen

MUX -1.45% $1.35

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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 -- Published: Wednesday, 3 February 2016 | E-Mail  | Print  | Source: GoldSeek.com

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