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Gold Seeker Closing Report: Gold and Silver Fall With Stocks, Dollar and Oil
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 25 July 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1314.10

-$9.40

Silver

$19.51

-$0.13

XAU

99.89

-3.71%

HUI

248.95

-3.91%

GDM

774.74

-3.31%

JSE Gold

2635.91

-114.38

USD

97.26

-0.13

Euro

109.93

+0.18

Yen

94.49

+0.24

Oil

$43.13

-$1.06

10-Year

1.571%

+0.001

T-Bond

171.5625

-0.0625

Dow

18493.06

-0.42%

Nasdaq

5097.63

-0.05%

S&P

2168.48

-0.30%

 
 
http://goldseek.com/news/GoldSeeker/2016/7-25gsr/1.jpg

 

The Metals:

 

Gold fell $10.85 to $1312.65 by midmorning in New York before it climbed back to almost unchanged in early afternoon trade, but it then fell back off again into the close and ended with a loss of 0.71%.  Silver slipped to a low as $19.312 and ended with a loss of 0.66%.

 

Euro gold fell to about €1196, platinum gained $1 to $1080, and copper remained at about $2.24.

 

Gold and silver equities dropped over 3% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

No summertime blues for U.S. economy  MarketWatch

Yellen Still Waiting for Overwhelming Evidence to Warrant Hike Bloomberg

Rock-bottom rates creates fiscal space for G20: OECD  Reuters

 

Tomorrow brings the Case-Shiller 20-city Index, Consumer Confidence, and New Home Sales.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/7-25gsr/1.png

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

 

Oil fell over 2% on concerns over ample supplies and increasing rig counts.

 

The U.S. dollar index edged lower and treasuries held near unchanged ahead of this week’s central bank meetings.

 

The Dow, Nasdaq, and S&P fell on poor earnings reports and worries about a weak oil market.

 

Among the big names making news in the market today were Fiat Chrysler, Verizon and Yahoo, Apple, AMC and Carmike, and Nintendo.

 

GATA Posts:

 

 

Rising prices fail to induce Indians to sell their gold

 

The Statistics:

As of close of business: 7/22/2016

Gold Warehouse Stocks:

10,021,094.390

-6,430.00

Silver Warehouse Stocks:

154,841,611.055

-526,913.338

 

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

963.142

30,965,981

US$40,652m

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$5,858m

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$6,473m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$473m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.88

1,121,361

US$1,417m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 217.54: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,842.07: No change from yesterday’s data.

 

The Miners:

 

Eurasian’s (EMXX) governmental approval, Agnico Eagle’s (AEM) additional investment in Belo Sun, Golden Star’s (GSS) offerings and second quarter results, McEwen’s (MUX) second quarter production, and Randgold’s (GOLD) prospects in Cote d'Ivoire were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Gold Standard

GSV -10.19% $1.41

2.  Gold Fields

GFI -6.97% $5.47

3.  Harmony

HMY -6.71% $4.03

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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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, 25 July 2016 | E-Mail  | Print  | Source: GoldSeek.com

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