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Gold Seeker Closing Report: Gold Gains While Stocks Edge Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 17 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1254.60

+$3.20

Silver

$17.44

-$0.01

XAU

82.23

+1.49%

HUI

202.85

+1.67%

GDM

646.89

+1.19%

JSE Gold

1793.82

-24.04

USD

97.84

-0.26

Euro

110.04

+0.33

Yen

96.27

+0.30

Oil

$49.94

-$0.41

10-Year

1.766%

-0.028

T-Bond

163.96875

+0.75

Dow

18086.40

-0.29%

Nasdaq

5199.82

-0.27%

S&P

2126.50

-0.30%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-17gsr/1.jpg

 

The Metals:

 

Gold saw a slight loss at $1250.62 in late Asian trade, but it then chopped back higher for most of the rest of the day and ended with a gain of 0.26%.  Silver rose to as high as $17.496 and ended with a loss of 0.06%.

 

Euro gold remained at about €1140, platinum stayed at $933, and copper fell slightly to about $2.11.

 

Gold and silver equities rose about 1.5% in the first 20 minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Empire Manufacturing

Oct

-6.8

2.0

-2.0

Industrial Production

Sep

0.1%

0.2%

-0.5%

Capacity Utilization

Sep

75.4%

75.6%

75.3%

 

Fed's Fischer: downshift in potential means 'not that simple' to raise rates  Reuters

Boston Fed’s Rosengren makes case for reverse Operation Twist  MarketWatch

 

Tomorrow brings CPI, the NAHB Housing Market Index, and Net Long-Term TIC Flows.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-17gsr/1.png

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

 

Oil fell almost 1% on oversupply concerns.

 

The U.S. dollar index dropped and treasuries rose on poor economic data that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were Hasbro, UBS, Deutsche Bank, and Bank of America.

 

GATA Posts:

 

 

China, Singapore boost gold pricing campaign in push for Asia

Singapore makes another bid for Asia to help set gold price

ICE will start gold futures for clearing London's daily auction

Bank of England warns UK's elected officials that it runs the country

China moves closer to coming off U.S. currency watch list

Perth Mint 'tests out' Indian gold import excise abuse

 

The Statistics:

As of close of business: 10/14/2016

Gold Warehouse Stocks:

10,605,725.800

+803.75

Silver Warehouse Stocks:

173,387,755.020

+147,373.164

 

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

965.428

31,039,491

US$38,941m

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$5,576m

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$6,163m

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: 227.56: +0.33 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,268.35: +35.42 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) drill results, Eurasian’s (EMXX) sale of mining claims, Gold Resource’s (GORO) third quarter production results, and Avino’s (ASM) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Hecla

HL +6.87% $5.60

2.  Endeavour Silver

EXK +6.20% $4.28

3.  Nevsun

NSU +6.18% $2.92

 

LOSERS

1.  Almaden

AAU -1.64% $1.20

2.  Freeport

FCX -1.45% $9.52

3.  Turquoise

TRQ -1.00% $2.97

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: Monday, 17 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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