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Gold Seeker Closing Report: Gold Pares Early Losses To End Only Slightly Lower
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 19 January 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1204.80

-$0.80

Silver

$17.00

-$0.08

XAU

87.56

-0.46%

HUI

200.46

-0.59%

GDM

638.25

-0.87%

JSE Gold

1451.66

-54.93

USD

101.15

-0.07

Euro

106.59

+0.27

Yen

87.08

-0.21

Oil

$51.37

+$0.29

10-Year

2.459%

+0.070

T-Bond

150.90625

-1.125

Dow

19732.40

-0.37%

Nasdaq

5540.08

-0.28%

S&P

2263.69

-0.36%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-19gsr/1.jpg

 

The Metals:

 

Gold fell $7.89 to $1197.71 in Asia before it bounced back to $1205.85 in early New York trade and then fell to a new session low of $1195.98 at about 10AM EST, but it then rallied back higher into the close and ended with a loss of just 0.07%.  Silver slipped to as low as $16.736 before it also bounced back higher, but it still ended with a loss of 0.47%.

 

Euro gold fell to about €1130, platinum lost $5 to $956, and copper remained at about $2.62.

 

Gold and silver equities fell about 2% in the first half hour of trade before they rallied back higher for most of the rest of the day, but they still ended with modest losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

1/14

234K

252K

249K

Housing Starts

Dec

1226K

1193K

1102K

Building Permits

Dec

1210K

1217K

1212K

Philadelphia Fed

Jan

23.6

15.3

19.7

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-19gsr/1.png

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

 

Oil pared early gains after the Energy Information Administration reported that crude inventories rose 2.3 million barrels, gasoline inventories rose 10.6 million barrels, and distillates rose 6.0 million barrels.

 

The U.S. dollar index erased early gains and ended lower as the euro ultimately rose after Draghi did not alter ECB policy.

 

Treasuries fell on better than expected economic data.

 

The Dow, Nasdaq, and S&P dropped on uncertainty surrounding the inauguration of Donald Trump as the 45th President of the United States.

 

Among the big names making news in the market today were Citigroup, Western Union, Anthem and Cigna, and Tesla.

 

GATA Posts:

 

 

John Embry: Watch out when reality breaks through fake news, manipulated markets

GATA Chairman Murphy interviewed by the Daily Coin

China cuts U.S. Treasury holdings to lowest level since 2010

Free candy bar more appealing to Californians than a free gold coin

 

The Statistics:

As of close of business: 1/18/2017

Gold Warehouse Stocks:

8,980,970.936

-1,307.50

Silver Warehouse Stocks:

180,219,561.793

-1,386,022.14

 

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$31,063m

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$5,334m

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$5,891m

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: 198.75: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,524.06: No change from yesterday’s data.

 

The Miners:

 

Gold Standard’s (GSV) assay results and Endeavor Silver’s (EXK) updated reserves and resources were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Great Panther

GPL +1.68% $1.82

2.  New Gold

NGD +1.22% $4.16

3.  Silver Wheaton

SLW +1.12% $20.84

 

LOSERS

1.  Alexco

AXU -3.37% $1.72

2.  Tahoe Resources

TAHO-3.14% $8.94

3.  Northern Dynasty

NAK -2.77% $2.46

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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 -- Published: Thursday, 19 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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