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Gold Seeker Closing Report: Gold and Silver End Slightly Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 20 October 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1266.10

-$3.30

Silver

$17.53

-$0.15

XAU

87.47

-0.14%

HUI

216.81

-0.13%

GDM

688.91

+0.01%

JSE Gold

1880.93

-12.25

USD

98.32

+0.43

Euro

109.27

-0.45

Yen

96.18

-0.50

Oil

$50.43

-$1.17

10-Year

1.747%

-0.005

T-Bond

164.5625

+0.34375

Dow

18162.35

-0.22%

Nasdaq

5241.83

-0.09%

S&P

2141.34

-0.14%

 
 
http://goldseek.com/news/GoldSeeker/2016/10-20gsr/1.jpg

 

The Metals:

 

Gold gained $4.22 to $1273.62 by a little before 10AM EST before it dropped back to $1264.84 in early afternoon action, but it ended with a loss of just 0.26%.  Silver slipped to as low $17.454 and ended with a loss of 0.85%.

 

Euro gold rose to about €1159, platinum lost $13 to $929, and copper fell slightly to about $2.10.

 

Gold and silver equities fell over 2% in the first hour of trade, but they then bounced back higher into the close and ended near unchanged on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

10/15

260K

249K

247K

Philadelphia Fed

Oct

9.7

5.5

12.8

Existing Home Sales

Sep

5.47M

5.30M

5.30M

Leading Indicators

Sep

0.2%

0.2%

-0.2%

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/10-20gsr/1.png

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

 

Oil fell over 2% after Russia’s largest oil company said it “can significantly increase oil production.”

 

The U.S. dollar index rose as the euro dropped after Draghi “said policy makers hadn’t discussed either extending the ECB’s bond-buying program or tapering the size of asset purchases.”

 

Treasuries saw slight gains as the Dow, Nasdaq, and S&P edged lower on mostly disappointing earnings reports.

 

Among the big names making news in the market today were Deutsche Bank, American Express, Nintendo, American Airlines, Verizon, and Walgreens.

 

GATA Posts:

 

 

Consumers will be hit by capital rules on gold, refiners say

Alasdair Macleod: Fiat money and gold

 

The Statistics:

As of close of business: 10/19/2016

Gold Warehouse Stocks:

10,463,561.486

-4,800.17

Silver Warehouse Stocks:

174,037,396.120

+547,261.15

 

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$39,536m

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$5,624m

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$6,217m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

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: 11,294.92: +26.57 change from yesterday’s data.

 

The Miners:

 

Gold Standard’s (GSV) drill results, Comstock’s (LODE) third quarter results, and SilverCrest’s (SIL.V) permits were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  IAMGOLD

IAG +3.62% $4.01

2.  DRDGOLD

DRD +2.76% $5.21

3.  Gold Standard

GSV +2.76% $2.61

 

LOSERS

1.  Primero

PPP -3.59% $1.61

2.  Fortuna

FSM -3.29% $6.77

3.  Harmony

HMY -3.03% $3.20

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: Thursday, 20 October 2016 | E-Mail  | Print  | Source: GoldSeek.com

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