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

 -- Published: Monday, 26 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1337.30

-$0.60

Silver

$19.40

-$0.26

XAU

94.45

-1.37%

HUI

232.70

-1.04%

GDM

744.16

-0.90%

JSE Gold

2115.14

-43.28

USD

95.28

-0.21

Euro

112.54

+0.28

Yen

99.73

+0.73

Oil

$45.93

+$1.45

10-Year

1.589%

-0.026

T-Bond

168.4375

+0.625

Dow

18094.83

-0.91%

Nasdaq

5257.49

-0.91%

S&P

2146.10

-0.86%

 
 
http://goldseek.com/news/GoldSeeker/2016/9-26gsr/1.jpg

 

The Metals:

 

Gold fell $5.11 to $1332.79 in Asia before it bounced back to $1342.17 in morning New York trade, but it then chopped back lower into the close and ended with a loss of 0.045%.  Silver slipped to as low as $19.374 and ended with a loss of 1.32%.

 

Euro gold fell to about €1188, platinum lost $16 to $1034, and copper remained at about $2.20.

 

Gold and silver equities rose over 1% at the open, but they then drifted back lower for most of the rest of trade and ended with about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

New Home Sales

Aug

609K

585K

659K

 

Tomorrow brings the Case-Shiller 20-city Index and Consumer Confidence.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/9-26gsr/1.png

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

 

Oil gained over 3% “on renewed hopes that major producers might make progress on a deal to limit production and help whittle down the glut that has loomed over prices for more than two years.”

 

The U.S. dollar index fell as treasuries rose and the Dow, Nasdaq, and S&P dropped on uncertainty about tonight’s presidential debate.

 

Among the big names making news in the market today were SunEdison, Deutsche Bank, and Smith & Wesson.

 

GATA Posts:

 

 

Germany will rescue Deutsche Bank if necessary, Allianz exec says

Deutsche Bank shares slump to lowest level in 25 years as Merkel rules out state aid

Fed seeks sharp limit on Wall Street commodity holdings

 

The Statistics:

As of close of business: 9/23/2016

Gold Warehouse Stocks:

10,625,739.326

-61,772.259

Silver Warehouse Stocks:

170,315,019.228

-20,422.06

 

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

951.216

30,582,535

US$40,984m

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$5,951m

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$6,580m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$480m

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 0.297 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 224.41: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,337.95: +32.48 change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) CEO comments about Africa, Kinross Gold’s (KGC) sale of 5,500,000 common shares of Lundin Gold, and Avino’s (ASM) updated NI 43-101 compliant resource estimate were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eurasian

EMXX +3.77% $1.10

2.  IAMGOLD

IAG +0.97% $4.16

3.  Gold Standard

GSV +0.84% $2.39

 

LOSERS

1.  Avino

ASM -5.48% $2.07

2.  Alexco

AXU -5.08% $1.68

3.  Primero

PPP -4.88% $1.56

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

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