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Gold Seeker Closing Report: Gold and Silver Gain With Dollar
By: Chris Mullen,

 -- Published: Wednesday, 12 October 2016 | Print  | Disqus 



















JSE Gold
































The Metals:


Gold dropped $2.94 to $1250.66 by a little after 8AM EST before it jumped up to $1258.19 in the next 2 hours of trade and then drifted back lower into midday, but it then bounced back higher into the close and ended with a gain of 0.13%.  Silver slipped back to $17.369 before it also rallied back higher in late trade and ended with a gain of 0.46%.


Euro gold rose to about €1140, platinum lost $6 to $937, and copper fell slightly to about $2.18.


Gold and silver equities rose over 1% in the first half hour of trade before they fell back towards unchanged by late morning, but they then climbed to new highs in afternoon trade and ended over 2% higher on the day.


The Economy:


Fed held steady in September despite ‘reasonable argument’ for interest rate hike: minutes  MarketWatch

Fed policymakers closer to rate hike, but inflation doubts remain: minutes  Reuters

Fed Says Several FOMC Members Saw Rate Rise ‘Relatively Soon’  Bloomberg

August 2016 US JOLTS job openings 5.443m vs 5.724m exp forexlive

Mortgage applications down 6% as rising rates take a toll CNBC

Fed can be 'gentle' in hiking rates, Dudley says Reuters


Tomorrow brings Initial Jobless Claims, Export and Import Prices, and the Treasury Budget.


The Markets:


Charts Courtesy of


Oil fell 1% as the U.S. dollar index continued higher on the view that the fed is more hawkish than the world’s other central banks.


Treasuries remained lower after today’s $24 billion 3-year note and $20 billion 10-year note auctions drew tepid demand.


The Dow, Nasdaq, and S&P traded mixed and ended near unchanged.


Among the big names making news in the market today were Deutsche Bank, Ericsson, Daimler, Wells Fargo, Samsung, Stanley Black & Decker, and GM.


GATA Posts:



LBMA chooses tech firms for new trade reporting

Susan Sanders, wife of monetary metals advocate Franklin Sanders, dies

Market Slant: What happens next in antitrust suit against London gold fix banks

Understanding gold begins with realizing that its market isn't normal


The Statistics:

As of close of business: 10/11/2016

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




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


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


Silver Trust (SLV) Total Tonnes in Trust: 11,232.93: No change from yesterday’s data.


The Miners:


Osisko’s (OSK.TO) drill results, Gold Resource’s (GORO) blasting permit, Richmont’s (RIC) drilling update, Great Panther’s (GPL) third quarter production results, Avino’s (ASM) new resource estimate, and Silver Standard’s (SSRI) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.



1.  B2Gold

BTG +7.27% $2.36


DRD +5.26% $4.67

3.  Gold Standard

GSV +4.85% $2.38



1.  Nevsun

NSU -2.13% $2.76

2.  Almaden

AAU -1.65% $1.19

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 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. 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’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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