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Gold Seeker Closing Report: Gold and Silver Fall Back Towards $1200 and $17
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 18 January 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1205.60

-$10.00

Silver

$17.08

-$0.09

XAU

87.96

-1.27%

HUI

201.66

-1.53%

GDM

642.65

-1.22%

JSE Gold

1506.59

+5.26

USD

101.22

+0.87

Euro

106.35

-0.77

Yen

87.29

-1.51

Oil

$51.08

-$1.40

10-Year

2.389%

+0.062

T-Bond

151.65625

-1.65625

Dow

19804.72

-0.11%

Nasdaq

5555.65

+0.31%

S&P

2271.89

+0.18%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-18gsr/1.jpg

 

The Metals:

 

Gold dipped $5.42 to $1210.18 in Asia before it bounced back to $1216.43 in late morning New York trade, but it then fell back off in afternoon trade and ended with a loss of 0.82%.  Silver rose to as high as $17.33 before it also fell back off, but it ended with a loss of just 0.52%.

 

Euro gold fell to about €1134, platinum lost $9 to $961, and copper remained at about $2.62.

 

Gold and silver equities traded mostly slightly higher throughout the morning, but they then dropped back off into the close and ended with over 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Dec

0.3%

0.3%

0.2%

Core CPI

Dec

0.2%

0.2%

0.2%

Industrial Production

Dec

0.8%

0.6%

-0.7%

Capacity Utilization

Dec

75.5%

75.4%

74.9%

NAHB Housing Market Index

Jan

67

-

69

Net Long-Term TIC Flows

Jan

$30.8B

 

$9.3B

 

Fed's Yellen says she expects rates to rise 'a few times a year' until end of 2019  MarketWatch

Fed’s Beige Book: Prices pressures ‘intensified’ at end of last year  MarketWatch

FHA premium drop ignites mortgage refinances, but applications overall are flat  CNBC

 

Tomorrow brings Initial Jobless Claims, Housing Starts, Building Permits, and the Philadelphia Fed.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-18gsr/1.png

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

 

Oil fell almost 3% “after the head of the International Energy Agency predicted a rebound in U.S. production.”

 

The U.S. dollar index rose and treasuries fell on higher than expected inflation data and Fedspeak that sent interest rates higher.

 

The Dow, Nasdaq, and S&P held near unchanged on mixed earnings reports.

 

Among the big names making news in the market today were Netflix, Target, BlackRock, Pearson, Deutsche Bank, JPMorgan, and Citigroup.

 

GATA Posts:

 

 

Trump's options for weakening dollar extend far beyond tweeting

 

The Statistics:

As of close of business: 1/17/2017

Gold Warehouse Stocks:

8,982,278.436

+43,750.775

Silver Warehouse Stocks:

181,605,583.933

+624,783.14

 

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

807.960

25,976,712

US$31,549m

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$5,390m

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$5,956m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$432m

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: 10,524.06: No change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) acquired property, Primero’s (PPP) preliminary fourth quarter and full-year 2016 operating results, Jaguar’s (JAG.TO) 2016 gold production, and SilverCrest’s (SIL.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +1.21% $1.255

2.  Northern Dynasty

NAK +1.20% $2.53

3.  Freeport

FCX +1.20% $15.24

 

LOSERS

1.  Richmont

RIC -5.00% $7.60

2.  First Majestic

AG -4.95% $9.02

3.  Alexco

AXU -4.81% $1.78

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

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: Wednesday, 18 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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