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

 -- Published: Thursday, 8 December 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1170.80

-$2.20

Silver

$17.01

-$0.11

XAU

82.57

-0.01%

HUI

184.57

+0.29%

GDM

595.53

+0.22%

JSE Gold

1361.22

+4.37

USD

101.11

+0.93

Euro

106.14

-1.41

Yen

87.72

-0.25

Oil

$50.84

+$1.07

10-Year

2.387%

+0.040

T-Bond

151.09375

-1.46875

Dow

19614.81

+0.33%

Nasdaq

5417.36

+0.44%

S&P

2246.19

+0.22%

 
 
http://goldseek.com/news/GoldSeeker/2016/12-8gsr/1.jpg

 

The Metals:

 

Gold edged up to $1177.99 by a little before 8AM EST before it fell back to $1169.29 in the next hour of trade and then chopped back higher at times, but it still ended with a loss of 0.19%.  Silver slipped to as low as $16.961 and ended with a loss of 0.64%.

 

Euro gold rose to about €1103, platinum lost $4 to $936, and copper fell 2 cents to about $2.62.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

12/03

258K

255K

268K

 

Tomorrow brings Michigan Sentiment and Wholesale Inventories.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/12-8gsr/1.png

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

 

Oil rose over 2% on hopes for cooperation between producers on output cuts.

 

The U.S. dollar index saw notable gains and treasuries fell with the euro after the ECB “said it would reduce its monthly asset buys to 60 billion euros as of April, from the current 80 billion euros, and extend purchases to December from March.”

 

The Dow, Nasdaq, and S&P rose to new record highs again on steady jobs data and mostly positive company news.

 

Among the big names making news in the market today were Lululemon, Rosneft, Deutsche Bank, and McDonald’s.

 

GATA Posts:

 

 

Allan Flynn: CFTC and Justice Dept. could find nothing wrong in silver market

Gold doing well in currencies besides dollar, Naylor-Leyland notes on CNBC

Bank of England shows off its gold vault again, but to whom does the metal really belong?

Deutsche Bank records said to show silver rigging at other banks

Indian demonetization effect: 15 tonnes of gold sold on Nov. 8-9

UK failed to measure huge imports of gold after Brexit vote

Chile rejects attempt to block modified Barrick Gold mine project

Why do some nations hold more gold?

 

The Statistics:

As of close of business: 12/7/2016

Gold Warehouse Stocks:

9,656,250.834

-67,285.885

Silver Warehouse Stocks:

180,096,498.303

+849,851.50

 

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

863.671

27,767,881

US$32,515m

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$5,201m

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$5,748m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$420m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 6.226 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.69: No change from yesterday’s data.

 

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

 

The Miners:

 

Fortuna’s (FSM) Board of Directors change and Alexco’s (AXU) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +25.66% $1.91

2.  Richmont

RIC +5.22% $7.05

3.  Alexco

AXU +5.00% $1.47

 

LOSERS

1.  First Majestic

AG -3.86% $9.47

2.  Endeavour Silver

EXK -2.51% $3.88

3.  Seabridge

SA -2.44% $10.00

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

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