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Gold Seeker Closing Report: Gold and Silver End Slightly Lower While Stocks Drop Roughly 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 29 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1321.40

-$1.50

Silver

$19.07

-$0.09

XAU

95.01

-0.69%

HUI

233.87

-0.48%

GDM

742.70

-0.34%

JSE Gold

2095.53

+36.60

USD

95.52

+0.09

Euro

112.19

-0.06

Yen

98.91

-0.43

Oil

$47.83

+$0.78

10-Year

1.557%

-0.010

T-Bond

169.5625

+0.3125

Dow

18143.45

-1.07%

Nasdaq

5269.15

-0.93%

S&P

2151.13

-0.93%

 
 

 

The Metals:

 

Gold saw slight gains in Asia before it fell to see a $6.78 loss at $1316.12 in late morning New York trade and then bounced back above unchanged in early afternoon action, but it then fell back off again into the close and ended with a loss of 0.11%.  Silver slipped to $19.008 and ended with a loss of 0.47%.

 

Euro gold fell to about €1078, platinum gained $1 to $1023, and copper remained at about $2.20.

 

Gold and silver equities traded mostly slightly lower and ended with modest losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

International Trade in Goods

Aug

-$58.4B

-$62.2B

-$58.8B

GDP

Q2

1.4%

1.3%

1.1%

GDP Deflator

Q2

2.3%

2.3%

2.3%

Initial Claims

9/24

254K

259K

251K

Pending Home Sales

Aug

-2.4%

1.0%

1.2%

 

Fed’s Lockhart Sees Potential for Raising Rates ‘Before Long’ Bloomberg

 

Tomorrow brings Personal Income and Spending, Core PCE Prices, Chicago PMI, and Michigan Sentiment.

 

The Markets:

 

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

 

Oil gained almost 2% more in continued reaction to OPEC’s production deal.

 

The U.S. dollar index rose and treasuries turned higher after the Dow, Nasdaq, and S&P fell about 1% “on reports that some Deutsche Bank AG clients are pairing back their exposure to the beleaguered German lender.”

 

Among the big names making news in the market today were Fitbit, Novo Nordisk, Nike, Deutsche Bank, and Wells Fargo.

 

GATA Posts:

 

 

Yellen says Fed could buy stocks if Congress authorized it

Gold deal making heating up as Kirkland Lake swallows Newmarket

Russian central bank buys gold because it can do it with depreciating rubles

Another German bank in trouble: Commerzbank to cut 9,600 jobs, suspend dividend

Russian central bank can't explain why it keeps buying gold

 

The Statistics:

As of close of business: 9/28/2016

Gold Warehouse Stocks:

10,538,630.254

-37,293.387

Silver Warehouse Stocks:

173,146,991.948

-249,832.45

 

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

949.139

30,515,760

US$40,210m

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$5,863m

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$6,469m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 226.68: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,287.75: -50.2 change from yesterday’s data.

 

The Miners:

 

Kirkland’s (KLG.TO) merger with Newmarket (NMI.TO), Nevsun’s (NSU) drilling program, and Gold Standard’s (GSV) director appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +7.47% $2.59

2.  Gold Resource

GORO +4.71% $7.78

3.  Primero

PPP +3.05% $1.69

 

LOSERS

1.  Richmont

RIC -4.22% $10.22

2.  Gold Fields

GFI -2.98% $4.89

3.  First Majestic

AG -2.96% $10.48

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: Thursday, 29 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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