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Gold Seeker Closing Report: Gold and Silver Erase Nearly 5% Gains to End Near Unchanged
By: Chris Mullen,

 -- Published: Wednesday, 9 November 2016 | Print  | Disqus 



















JSE Gold































The Metals:


Gold gained $61.61 to $1337.21 in Asia before it fell all the way back to $1270.05 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.1%.  Silver rose to as high as $18.996 before it also fell back off, but it still ended with a gain of 0.35%.


Euro gold rose to about €1168, platinum lost $3 to $997, and copper climbed another 8 cents to about $2.46.


Gold and silver equities climbed roughly 6% at the open before they chopped back lower for most of the rest of the day, but they still ended roughly 3% higher on the day.


The Economy:







Wholesale Inventories






Trump can quickly put his stamp on the Federal Reserve  MarketWatch

Mortgage applications down 1.2% as rates continue to rise  CNBC


Tomorrow brings Initial Jobless Claims and the Treasury Budget.


The Markets:

Charts Courtesy of


Oil edged higher after The Energy Information Administration reported that crude inventories rose 2.4 million barrels, gasoline inventories fell 2.8 million barrels, and distillates fell 1.9 million barrels.


The U.S. dollar index eventually rose and treasuries fell markedly as the Dow, Nasdaq, and S&P ended with over 1% gains “amid speculation Donald Trump and a Republican-controlled Congress will pursue business-friendly policies.”


“U.S. stocks rallied on Wednesday in a dramatic turnaround from overnight losses fueled by the upset victory of Republican Donald Trump as investors poured into sectors that appeared poised to benefit from the policies of a Trump presidency.”


Among the big names making news in the market today were GoPro, Time Warner, and Viacom.


GATA Posts:



Canadian mint employee guilty of smuggling $138,000 of gold in rectum

What will Trump's election mean for the monetary metals?

Indian currency revocation seen pushing many into gold


The Statistics:

As of close of business: 11/8/2016

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




Note: No change in Total Tonnes from yesterday’s data.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 230.99: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 11,148.60: No change from yesterday’s data.


The Miners:


SEMAFO’s (SMF.TO) third quarter results, Primero’s (PPP) third quarter results, and First Majestic’s (AG) third quarter results were among the big stories in the gold and silver mining industry making headlines today.



1.  First Majestic

AG +15.23% $9.38

2.  Silver Standard

SSRI +9.61% $12.09

3.  Freeport

FCX +8.11% $13.07



1.  Avino

ASM -8.00% $2.30

2.  Vista Gold

VGZ -1.83% $1.07

3.  Almaden

AAU -1.06% $1.31

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

Note: This article may be reproduced provided the article, in full, is used and mention to is given.

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. 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’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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