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

 -- Published: Wednesday, 7 December 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1173.00

+$3.90

Silver

$17.12

+$0.41

XAU

82.57

+0.51%

HUI

184.04

+1.30%

GDM

594.10

+1.04%

JSE Gold

1396.85

+5.67

USD

100.18

-0.30

Euro

107.60

+0.43

Yen

87.87

+0.20

Oil

$49.77

-$1.16

10-Year

2.347%

-0.049

T-Bond

152.59375

+0.9375

Dow

19549.62

+1.55%

Nasdaq

5393.76

+1.14%

S&P

2241.35

+1.32%

 
 
http://goldseek.com/news/GoldSeeker/2016/12-7gsr/1.jpg

 

The Metals:

 

Gold gained $11.03 to $1180.13 by midmorning in New York before it drifted back lower into the close, but it still ended with a gain of 0.33%.  Silver surged to as high as $17.216 and ended with a gain of 2.45%.

 

Euro gold fell to about €1090, platinum gained $7 to $940, and copper fell a few cents to about $2.64.

 

Gold and silver equities rose about 3% my midday before they fell back off in late trade, but they still ended about 1% higher on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Oct

$16.0B

$18.7B

$21.8B

 

Job openings and hires move sideways as economy approaches full employment  MarketWatch

Plunge in mortgage applications stalls, down just 0.7 percent  CNBC

U.S. mortgage rates rise to highest levels in over two years: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/12-7gsr/1.png

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

 

Oil dropped over 2% after the Energy Information Administration reported that crude inventories fell 2.4 million barrels, gasoline inventories rose 3.4 million barrels, and distillates rose 2.5 million barrels.

 

The U.S. dollar index fell and treasuries rose along with the Dow, Nasdaq, and S&P

ahead of tomorrow’s ECB meeting.

 

Among the big names making news in the market today were AT&T, SunPower, JPMorgan, Shell, Trafigura, and Boeing.

 

GATA Posts:

 

 

Turkey's president urges people to favor lira and gold to end 'tyranny of the dollar'

Brussels to fine three banks over Euribor rate rigging

 

The Statistics:

As of close of business: 12/6/2016

Gold Warehouse Stocks:

9,723,536.719

+17,363.59

Silver Warehouse Stocks:

179,246,646.803

+468,018.00

 

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

869.897

27,968,046

US$32,934m

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$5,226m

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$5,781m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$421m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.69: -0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,761.66: No change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) controversial Pascua Lama project, Nevsun’s (NSU) drill results, Gold Fields’ (GFI) resignation, and Santacruz Silver’s (SCZ.V) project sale were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Vista Gold

VGZ +8.34% $1.05

2.  Northern Dynasty

NAK +7.04% $1.52

3.  New Gold

NGD +5.65% $3.93

 

LOSERS

1.  Freeport

FCX -2.89% $15.43

2.  Paramount

PZG -1.63% $1.81

3.  Avino

ASM -1.43% $1.38

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, 7 December 2016 | E-Mail  | Print  | Source: GoldSeek.com

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