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

 -- Published: Wednesday, 19 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1269.40

+$7.40

Silver

$17.68

+$0.08

XAU

87.59

+2.64%

HUI

217.08

+2.80%

GDM

688.84

+2.76%

JSE Gold

1893.18

+58.09

USD

97.89

+0.01

Euro

109.73

-0.06

Yen

96.69

+0.41

Oil

$51.60

+$1.31

10-Year

1.752%

+0.003

T-Bond

164.40625

+0.125

Dow

18202.62

+0.22%

Nasdaq

5246.41

+0.05%

S&P

2144.29

+0.22%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-19gsr/1.jpg

 

The Metals:

 

Gold gained $11.23 to $1273.23 in late morning New York trade before it drifted back lower in afternoon action, but it still ended with a gain of 0.59%.  Silver rose to as high as $17.768 and ended with a gain of 0.45%.

 

Euro gold rose above €1157, platinum gained $1.50 to $942, and copper remained at about $2.11.

 

Gold and silver equities rose almost 3% by late morning and remained near that level into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Housing Starts

Sep

1047K

1168K

1150K

Building Permits

Sep

1225K

1164K

1152K

 

Fed's Beige Book: Most of U.S. grew at modest to moderate rate  MarketWatch

Mortgage applications climb 0.6%; rising rates don't scare buyers  CNBC

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, Leading Economic Indicators, and Existing Home Sales.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-19gsr/1.png

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

 

Oil rose over 2% after the Energy Information Administration reported that crude inventories fell 5.2 million barrels, gasoline inventories rose 2.5 million barrels, and distillates fell 1.2 million barrels.

 

The U.S. dollar index and treasuries held near unchanged while the Dow, Nasdaq, and S&P edged higher on decent earnings reports.

 

Among the big names making news in the market today were UnitedHealth, Halliburton, Facebook, Samsung, and Morgan Stanley.

 

GATA Posts:

 

 

Gold in India trades at premium for first time in 9 months, dealers say

ECB urges EU to curb virtual money for fear of losing control

Central banks, not bullion banks, long have been GATA's primary target

 

The Statistics:

As of close of business: 10/18/2016

Gold Warehouse Stocks:

10,468,361.656

-137,139.094

Silver Warehouse Stocks:

173,490,134.970

-235,780.35

 

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

967.208

31,096,713

US$39,455m

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$5,641m

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$6,239m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

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: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,268.35: No change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) third quarter 2016 production and Eurasian’s (EMXX) optioned project were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alexco

AXU +6.29% $1.86

2.  IAMGOLD

IAG +5.74% $3.87

3.  Barrick

ABX +5.62% $17.29

 

LOSERS

1.  Nevsun

NSU -3.28% $2.95

2.  Gold Standard

GSV -2.68% $2.54

3.  Paramount

PZG -1.43% $1.87

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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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: Wednesday, 19 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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