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Gold Seeker Closing Report: Gold Gains and Silver Surges Over 3% Higher
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 21 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1334.00

+$19.40

Silver

$19.83

+$0.60

XAU

99.20

+7.32%

HUI

244.40

+7.74%

GDM

770.87

+6.36%

JSE Gold

2098.49

+73.99

USD

95.54

-0.45

Euro

111.87

+0.32

Yen

99.49

+1.18

Oil

$45.34

+$1.29

10-Year

1.668%

-0.020

T-Bond

166.71875

+0.71875

Dow

18293.70

+0.90%

Nasdaq

5295.18

+1.03%

S&P

2163.12

+1.09%

 
 
http://goldseek.com/news/GoldSeeker/2016/9-21gsr/1.jpg

 

The Metals:

 

Gold dipped $3.64 to $1310.96 in Asia before it rallied up to $1329.39 at about 8AM EST and then drifted back lower at times, but it then jumped up to $1335.12 after today’s fed statement and ended with a gain of 1.48%.  Silver rose to as high as $19.864 and ended with a gain of 3.12%.

 

Euro gold rose to about €1193, platinum gained $23 to $1051, and copper stayed at about $2.16.

 

Gold and silver equities rose throughout most of trade and ended about 7% higher on the day.

 

The Economy:

 

Text of September FOMC statement MarketWatch

Fed keeps rates steady, signals one hike by end of year Reuters

Fed holds off interest-rate hike but only ‘for the time-being’ MarketWatch

Fed Leaves Rates Unchanged, Signals 2016 Hike Still Likely Bloomberg

 

Tomorrow brings Initial Jobless Claims, the FHFA Housing Price Index, and Existing Home Sales.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/9-21gsr/1.png

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

 

Oil rose almost 3% after the Energy Information Administration reported that crude inventories fell 6.2 million barrels, gasoline inventories fell 3.2 million barrels, and distillates rose 2.2 million barrels.

 

The U.S. dollar extended lower and treasuries turned higher after the fed held rates unchanged.  

 

The Dow, Nasdaq, and S&P saw decent gains for most of the morning before they fell back to about unchanged in early afternoon trade, but they then climbed to new highs in the last couple of hours and ended roughly 1% higher.

 

Among the big names making news in the market today were Apple, Verizon, and Wells Fargo.

 

GATA Posts:

 

 

Storage cost argument against gold now applies to cash, McEwen notes

Do you know where those gold maples have been? Canadian Mint doesn't either

 

The Statistics:

As of close of business: 9/20/2016

Gold Warehouse Stocks:

10,844,567.010

-6,590.75

Silver Warehouse Stocks:

170,693,193.348

-29,179.80

 

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

938.753

30,181,858

US$40,015m

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$5,890m

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$6,512m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$476m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.858 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 223.51: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,305.47: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Richmont

RIC +13.03% $11.28

2.  Harmony

HMY +11.87% $3.77

3.  Pretivm

PVG +11.45% $11.29

 

No “Losers” today.

 

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: Wednesday, 21 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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