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Gold Seeker Closing Report: Gold and Silver Fall Over 3% and 5%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 4 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1268.70

-$44.60

Silver

$17.85

-$0.97

XAU

83.42

-9.39%

HUI

203.58

-10.13%

GDM

721.98

-8.44%

JSE Gold

1935.01

-129.05

USD

96.12

+0.39

Euro

112.07

-0.05

Yen

97.25

-1.19

Oil

$48.69

-$0.12

10-Year

1.683%

+0.061

T-Bond

166.40625

-1.65625

Dow

18168.45

-0.47%

Nasdaq

5289.66

-0.21%

S&P

2150.49

-0.50%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-4gsr/1.jpg

 

The Metals:

 

Gold held near unchanged in Asia and London, but it then fell throughout most of trade in New York and ended near its late session low of $1267.04 with a loss of 3.4%.  Silver slipped to as low as $17.726 and ended with a loss of 5.15%.

 

Euro gold fell to about €1032, platinum lost $19 to $984, and copper fell a couple of cents to about $2.17.

 

Gold and silver equities fell over 8% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Fed's Lacker says rates might need to rise a lot, case for hike strong Reuters

 

Tomorrow brings ADP Employment, the Trade Balance, Factory Orders, and ISM Services.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-4gsr/1.png

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

 

Oil held near unchanged ahead of tomorrow’s supply data.

 

The U.S. dollar index rose as the pound fell to the lowest since 1985 on renewed worries about Brexit.

 

Treasuries fell along with the Dow, Nasdaq, and S&P on reports that “the European Central Bank might move to gradually wind down its bond-buying program before its scheduled conclusion in March.”

 

Among the big names making news in the market today were Google, Delta, Darden, BMO, and Deutsche Bank.

 

GATA Posts:

 

 

Goldcorp slumps most among major gold miners on Mexico shutdown

 

The Statistics:

As of close of business: 10/3/2016

Gold Warehouse Stocks:

10,672,251.104

-30,129.476

Silver Warehouse Stocks:

173,183,466.418

-170,905.93

 

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$39,097m

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$5,643m

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$6,267m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$457m

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: 11,270.04: No change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) resumption of operations in Argentina, Royal Gold’s (RGLD) first quarter update, Nevsun’s (NSU) commercial production announcement, New Gold’s (NGD) project update, and Silver Bear’s (SBR.TO) updated mine plan and feasibility study were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Gold Resource

GORO-18.6% $5.91

2.  Kinross

KGC -13.11% $3.58

3.  Yamana

AUY -13.05% $3.73

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: Tuesday, 4 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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