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Gold Seeker Closing Report: Gold Falls While Silver Climbs With Copper
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 10 November 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1256.80

-$17.70

Silver

$18.52

+$0.12

XAU

83.82

-6.69%

HUI

195.94

-7.79%

GDM

637.30

-7.65%

JSE Gold

1725.67

-49.89

USD

98.86

+0.22

Euro

108.86

-0.31

Yen

93.54

-1.03

Oil

$44.66

-$0.61

10-Year

2.117%

+0.045

T-Bond

155.875

-1.09375

Dow

18807.88

+1.17%

Nasdaq

5208.80

-0.81%

S&P

2167.48

+0.20%

 
 
http://goldseek.com/news/GoldSeeker/2016/11-10gsr/1.jpg

 

The Metals:

 

Gold gained $17.19 to $1291.69 in Asia, but it then fell back off in London and New York and ended with a loss of 1.39%.  Silver rose to as high as $18.963 before it dropped back to $18.418 in midmorning New York trade, but it then bounced back higher into midday and ended with a gain of 0.65%.

 

Euro gold fell to about €1155, platinum lost $25 to $972, and copper climbed another 8 cents to about $2.54.

 

Gold and silver equities fell about 5% in the first 10 minutes of trade and remained near that level for most of the day, but they then extended even lower in the last two hours of trade and ended with about 7% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

11/05

254K

262K

265K

Treasury Budget

Oct

-$44.2B

-

-$136.6B

 

Tomorrow brings Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/11-10gsr/1.png

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

 

Oil fell over 1% on oversupply concerns while the U.S. dollar index rose and treasuries fell again on the outlook for rising inflation and interest rates.  Today’s $15 billion 30-year note auction sold at a yield of 2.902% with a bid to cover of just 2.11.

 

The Dow, Nasdaq, and S&P traded mixed on positioning for Trump’s future policies.

 

Among the big names making news in the market today were Wells Fargo, Alibaba, Adobe, MetLife, SodaStream, and Macy’s.

 

GATA Posts:

 

 

India's bank note ban to disrupt gold-smuggling business

 

The Statistics:

As of close of business: 11/9/2016

Gold Warehouse Stocks:

10,514,769.152

+324.42

Silver Warehouse Stocks:

175,942,101.640

+3,429,931.505

 

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

955.026

30,705,031

US$38,914m

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$5,608m

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$6,202m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$451m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 5.338 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 227.99: -3.00 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,178.11: +29.51 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) debt tender offer, Richmont’s (RIC) third quarter results, Alamos Gold’s (AGI) third quarter results, and Santacruz Silver’s (SCZ.V) third quarter production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +5.59% $13.80

2.  Nevsun

NSU +3.39% $3.05

3.  Turquoise Hill

TRQ +1.83% $3.34

 

LOSERS

1.  Silver Wheaton

SLW-16.9% $20.01

2.  Richmont

RIC -16.86% $7.15

3.  Hecla

HL -12.43% $6.34

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 Gold-Seeker.com 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. 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: Thursday, 10 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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