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Gold Seeker Closing Report: Gold and Silver Fall Again Before Jobs Day
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 6 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1254.30

-$12.30

Silver

$17.32

-$0.44

XAU

81.44

-2.91%

HUI

199.31

-2.90%

GDM

638.03

-2.65%

JSE Gold

1794.01

-37.06

USD

96.68

+0.51

Euro

111.51

-0.54

Yen

96.11

-0.50

Oil

$50.44

+$0.61

10-Year

1.742%

-0.026

T-Bond

165.03125

-0.6875

Dow

18268.50

-0.07%

Nasdaq

5306.85

-0.17%

S&P

2160.77

+0.05%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-6gsr/1.jpg

 

The Metals:

 

Gold edged up to $1268.06 in London, but it then dropped down to as low as $1250.04 in afternoon New York trade and ended with a loss of 0.97%.  Silver slipped to as low as $17.111 and ended with a loss of 2.48%.

 

Euro gold fell to about €1125, platinum lost $15.50 to $958.50, and copper fell slightly to about $2.16.

 

Gold and silver equities fell over 3% at the open before they chopped back higher at times, but they still ended with over 2.5% losses on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

10/01

249K

258K

254K

 

US layoffs jump in September by 38% from August, according to Challenger  CNBC

Mortgage rates hold near recent lows, Freddie Mac says  MarketWatch

 

Tomorrow brings September’s jobs data, Wholesale Inventories, and Consumer Credit.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-6gsr/1.png

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

 

Oil gained over 1% on worries about disruptions caused by Hurricane Matthew.

 

The U.S. dollar index rose and treasuries fell while the Dow, Nasdaq, and S&P held near unchanged ahead of tomorrow’s jobs data.

 

Among the big names making news in the market today were Deutsche Bank, EasyJet, Wal-Mart, and Twitter.

 

GATA Posts:

 

 

Central banks suppress gold to help China accumulate it, Rickards says

Banks must face gold- and silver-rigging lawsuits

 

The Statistics:

As of close of business: 10/05/2016

Gold Warehouse Stocks:

10,694,662.314

+7,051.716

Silver Warehouse Stocks:

174,713,324.468

+601,855.27

 

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

947.629

30,467,218

US$38,219m

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$5,577m

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$6,164m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

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 0.323 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 227.23: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,206.36: -59.05 change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) Environmental Impact Assessment approval, Primero’s (PPP) COO appointment, Seabridge Gold’s (SA) Preliminary Economic Assessment, Tahoe’s (TAHO) dividend, and Silver Standard’s (SSRI) option agreement with Eagle Plains Resources were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  NovaGold

NG -7.17% $4.27

2.  McEwen

MUX -6.36% $3.09

3.  Endeavour Silver

EXK -6.19% $4.09

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: Thursday, 6 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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