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Gold Seeker Closing Report: Gold Gains Again While Silver Slips
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 11 January 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1190.90

+$3.70

Silver

$16.73

-$0.06

XAU

86.41

-0.10%

HUI

197.90

-0.22%

GDM

628.94

+0.04%

JSE Gold

1408.32

-20.85

USD

101.76

-0.22

Euro

105.79

+0.23

Yen

86.70

+0.32

Oil

$52.25

+$1.43

10-Year

2.370%

-0.009

T-Bond

152.96875

+0.4375

Dow

19954.28

+0.50%

Nasdaq

5563.65

+0.21%

S&P

2275.32

+0.28%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-11gsr/1.jpg

 

The Metals:

 

Gold edged up to $1191.26 in Asia before it fell back to $1177.25 in midmorning New York trade, but it then jumped to as high as $1198.13 in early afternoon trade and ended with a gain of 0.31%.  Silver slipped to $16.534 before it rallied back to $16.86 and then fell back off into the close, but it ended with a loss of just 0.36%.

 

Euro gold rose to about €1126, platinum lost $6 to $968, and copper remained at about $2.61.

 

Gold and silver equities fell over 2% in the first half hour of trade before they rose to see slight gains by midday, but they then drifted back lower into the close and ended near unchanged.

 

The Economy:

 

Mortgage applications rebound 5.8%, as interest rates ease off recent highs CNBC

The World Economic Forum says this is what you need to worry about in 2017  MarketWatch

Suddenly, Home Sale Agreements Are Falling Apart Across the U.S.  Bloomberg

 

Tomorrow brings Initial Jobless Claims and Export and Import Prices.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-11gsr/1.png

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

 

Oil remained higher after the Energy Information Administration reported that crude inventories rose 4.1 million barrels, gasoline inventories rose 5.0 million barrels, and distillates rose 8.4 million barrels.

 

The U.S. dollar index erased notable early gains and ended slightly lower while treasuries jumped higher on uncertainty over Trump’s policies as President.

 

The Dow, Nasdaq, and S&P ended slightly higher in mixed trade.

 

Among the big names making news in the market today were Volkswagen, Bitcoin, J.M. Smucker, and Airbus

 

GATA Posts:

 

 

GATA Chairman Murphy to speak at Dollar Vigilante conference in Acapulco

Hugo Salinas Price: Dollar's reserve currency status destroys U.S. manufacturing

 

The Statistics:

As of close of business: 1/10/2017

Gold Warehouse Stocks:

9,086,380.973

-3,215.00

Silver Warehouse Stocks:

180,657,637.790

-1,237,032.141

 

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

804.996

25,881,434

US$30,499m

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$5,274m

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$5,832m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$427m

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: 198.30: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,612.51: No change from yesterday’s data.

 

The Miners:

 

Yamana’s (AUY) mine strike, Sandstorm’s (SAND) 2016 production, Golden Star’s (GSS) 2016 production, Great Panther’s (GPL) 2016 production, and Fortuna’s (FSM) 2016 production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +7.77% $1.11

2.  Paramount

PZG +4.57% $1.83

3.  Agnico Eagle

AEM +2.71% $45.55

 

LOSERS

1.  Silver Standard

SSRI -3.15% $9.85

2.  Turquoise

TRQ -2.53% $3.47

3.  Seabridge

SA -2.11% $9.30

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 2017

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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, 11 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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