-- 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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-- Published: Wednesday, 12 October 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain With Dollar
