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

 -- Published: Monday, 3 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1313.30

-$4.10

Silver

$18.82

-$0.34

XAU

92.07

-2.06%

HUI

226.52

-2.00%

GDM

721.38

-1.74%

JSE Gold

2064.06

-51.25

USD

95.73

+0.23

Euro

112.15

-0.27

Yen

98.43

-0.25

Oil

$48.81

+$0.57

10-Year

1.622%

+0.014

T-Bond

167.90625

-0.25

Dow

18253.85

-0.30%

Nasdaq

5300.87

-0.21%

S&P

2161.20

-0.33%

 
 

 

The Metals:

 

Gold edged up to $1319.45 in Asia before it fell to as low as $1309.46 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.31%.  Silver slipped to as low as $18.703 and ended with a loss of 1.77%.

 

Euro gold fell to about €1071, platinum lost $22 to $1003, and copper fell a couple of cents to about $2.19.

 

Gold and silver equities fell almost 3% by midafternoon before they rallied back higher in late trade, but they still ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

Sep

51.5

50.4

49.4

Construction Spending

Aug

-0.7%

0.2%

-0.3%

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil rose over 1% on continued optimism over OPEC’s production deal.

 

The U.S. dollar index saw slight gains and treasuries fell on better than expected manufacturing data.

 

The Dow, Nasdaq, and S&P dropped on economic and political uncertainty.

 

Among the big names making news in the market today were Deutsche Bank, Janus, Ford, and Cabela.

 

GATA Posts:

 

 

Summers floats idea of sustained stock purchases by government

Many Canadian mint workers fired for theft, gold-in-rectum trial hears

India's gold imports drop for ninth month, GFMS says

Commentaries by Leeb and von Greyerz at King World News

Sean Corrigan: Flow my tears, the policeman said

 

The Statistics:

As of close of business: 9/30/2016

Gold Warehouse Stocks:

10,702,380.580

+129,812.18

Silver Warehouse Stocks:

173,354,372.348

+32,942.27

 

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

947.952

30,477,604

US$40,012m

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$5,828m

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$6,441m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$470m

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 1.187 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 11,270.04: -17.71 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) new gold mine in Suriname, Goldcorp’s (GG) controlled shutdown of operations at its Peñasquito mine, Entree Gold’s (EGI) potential restructuring, Endeavour Mining’s (EDV.TO) director appointments, Sandstorm Gold’s (SAND) third quarter sales, Silvercorp’s (SVM.TO) AGM results, and Fortuna’s (FSM) board appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +3.48% $2.08

2.  Sandstorm

SAND +0.60% $5.06

3.  Pan American

PAAS +0.57% $17.72

 

LOSERS

1.  Gold Standard

GSV -6.30% $2.38

2.  Almaden

AAU -5.21% $1.33

3.  Goldcorp

GG -4.48% $15.78

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, 3 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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