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

 -- Published: Thursday, 28 July 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1337.00

-$4.40

Silver

$20.22

-$0.16

XAU

107.74

+0.14%

HUI

268.63

-0.30%

GDM

826.77

+0.63%

JSE Gold

2822.60

+37.19

USD

96.69

-0.11

Euro

110.77

+0.15

Yen

94.96

+0.05

Oil

$41.14

-$0.78

10-Year

1.511%

-0.004

T-Bond

173.375

+0.15625

Dow

18456.35

-0.09%

Nasdaq

5154.98

+0.30%

S&P

2170.06

+0.16%

 
 
http://goldseek.com/news/GoldSeeker/2016/7-28gsr/1.jpg

 

The Metals:

 

Gold edged up to $1344.92 by a little after 8AM EST before it fell back to $1332.61 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.33%.  Silver slipped to as low as $20.101 and ended with a loss of 0.79%.

 

Euro gold fell to about €1207, platinum lost $2 to $1131, and copper climbed a couple of cents to about $2.22.

 

Gold and silver equities fell over 2% by late morning, but they then rallied back higher in afternoon trade and ended near unchanged on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

7/23

266K

260K

252K

International Trade in Goods

June

-$63.3B

-$61.2B

-$61.1B

 

Tomorrow brings GDP, the Employment Cost Index, Chicago PMI, and Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/7-28gsr/1.png

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

 

Oil dropped almost 2% more on worries about weak demand following this week’s mostly disappointing economic data.

 

The U.S. dollar index pared early losses as the yen erased most of its overnight gains on uncertainty about tomorrow’s policy announcement from the Bank of Japan.

 

Treasuries held near unchanged as the Dow, Nasdaq, and S&P traded mixed on offsetting earnings reports.

 

Among the big names making news in the market today were Hershey, Facebook, Dow Chemical, Oracle, and Ford.

 

GATA Posts:

 

 

TD's $230 billion man goes maximum gold as volatility mounts

DRD Gold CEO sees metal shortage as 'paper gold' increases

K92 Mining may show that Barrick is much better at geology than business

 

The Statistics:

As of close of business: 7/27/2016

Gold Warehouse Stocks:

10,574,376.500

+159,909.063

Silver Warehouse Stocks:

155,045,706.027

-58,612.09

 

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

954.235

30,679,605

US$41,152m

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$5,931m

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$6,556m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$479m

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: 217.99: No change from yesterday’s data.

 

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

 

The Miners:

 

Second quarter results from Goldcorp (GG), Barrick (ABX), New Gold (NGD), and Kinross (KGC) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  ITH

THM +8.65% $1.13

2.  Exeter

XRA +8.20% $1.32

3.  Coeur

CDE +4.24% $14.74

 

LOSERS

1.  Goldcorp

GG -5.94% $17.73

2.  DRDGOLD

DRD -2.86% $8.14

3.  Paramount

PZG -2.34% $2.09

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: Thursday, 28 July 2016 | E-Mail  | Print  | Source: GoldSeek.com

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