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Gold Seeker Closing Report: Gold Falls Back Towards $1200 While Dow Tops 20,000
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 25 January 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1200.10

-$9.80

Silver

$16.99

-$0.12

XAU

90.36

-1.69%

HUI

205.96

-1.68%

GDM

655.38

-1.49%

JSE Gold

1451.62

-67.28

USD

99.90

-0.38

Euro

107.47

+0.15

Yen

88.26

+0.43

Oil

$52.75

-$0.43

10-Year

2.523%

+0.052

T-Bond

149.5625

-1.03125

Dow

20068.51

+0.78%

Nasdaq

5656.34

+0.99%

S&P

2298.37

+0.80%

 
 
http://goldseek.com/news/GoldSeeker/2017/1-25gsr/1.jpg

 

The Metals:

 

Gold fell $16.55 to $1193.35 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.81%.  Silver slipped to as low as $16.775 and ended with a loss of 0.7%.

 

Euro gold fell to about €1116, platinum lost $12 to $980, and copper climbed a penny to about $2.71.

 

Gold and silver equities slipped almost 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

FHFA Housing Price Index

Nov

0.5%

-

0.3%

 

U.S. purchase mortgage activity hits highest in over seven months: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims, International Trade in Goods, Leading Indicators, and New Home Sales.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/1-25gsr/1.png

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

 

Oil fell almost 1% after the Energy Information Administration reported that crude inventories rose 2.8 million barrels, gasoline inventories rose 6.8 million barrels, and distillates were “virtually unchanged.”

 

The U.S. dollar index dropped on concerns about Trump’s trade policies.

 

Treasuries saw notable losses as the Dow, Nasdaq, and S&P rose to new record highs on strong earnings reports.

 

Among the big names making news in the market today were Cisco, Boeing, RBS, Vanguard, and BlackRock.

 

GATA Posts:

 

 

Putin's sanctioned ally may win mine with a quarter of Russian gold resources

Mnuchin backs Fed independence and signals reform isn't priority

 

The Statistics:

As of close of business: 1/24/2017

Gold Warehouse Stocks:

8,971,358.086

-4,629.60

Silver Warehouse Stocks:

181,532,883.653

-80,787.50

 

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

804.108

25,852,865

US$30,886m

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$5,330m

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$5,894m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$431m

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: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,494.58: No change from yesterday’s data.

 

The Miners:

 

Eurasian’s (EMXX) property update, Richmont’s (RIC) CFO appointment, Freeport’s (FCX) permitting issue in Indonesia, Gold Resource’s (GORO) dividend, Barrick’s (ABX) 2016 output, Endeavour Silver’s (EXK) production guidance, and Fresnillo’s (FRES.LN) 2016 output were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +5.00% $1.47

2.  Almaden

AAU +2.97% $1.04

3.  Nevsun

NSU +2.75% $3.36

 

LOSERS

1.  Northern Dynasty

NAK -6.33% $3.11

2.  New Gold

NGD -3.89% $3.95

3.  Coeur

CDE -3.46% $11.43

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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© Gold Seeker 2017

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 -- Published: Wednesday, 25 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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