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

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

 

Close

Gain/Loss

Gold

$1255.20

+$1.60

Silver

$17.54

+$0.08

XAU

81.93

+2.20%

HUI

200.66

+2.24%

GDM

641.34

+2.02%

JSE Gold

1773.03

-9.67

USD

97.94

+0.27

Euro

110.14

-0.40

Yen

95.94

-0.66

Oil

$50.18

-$0.61

10-Year

1.778%

+0.019

T-Bond

164.0625

-0.28125

Dow

18144.20

+0.09%

Nasdaq

5239.02

-0.15%

S&P

2139.17

+0.11%

 
 

 

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 http://finance.yahoo.com/

 

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:

10,617,530.530

-44,480.719

Silver Warehouse Stocks:

172,745,642.557

-320,975.001

 

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

958.902

30,829,667

US$38,639m

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$5,579m

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$6,162m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$450m

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: 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.

 

WINNERS

1.  B2Gold

BTG +7.27% $2.36

2.  DRDGOLD

DRD +5.26% $4.67

3.  Gold Standard

GSV +4.85% $2.38

 

LOSERS

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

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 -- Published: Wednesday, 12 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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