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

 -- Published: Wednesday, 1 February 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1209.10

-$3.00

Silver

$17.53

-$0.02

XAU

91.75

-0.00%

HUI

207.28

-0.08%

GDM

665.56

+0.10%

JSE Gold

1503.77

-0.37

USD

99.72

+0.12

Euro

107.70

-0.26

Yen

88.32

-0.28

Oil

$53.88

+$1.07

10-Year

2.474%

+0.023

T-Bond

150.50

-0.34375

Dow

19890.94

+0.14%

Nasdaq

5642.65

+0.50%

S&P

2279.55

+0.03%

 
 
http://goldseek.com/news/GoldSeeker/2017/2-1gsr/1.jpg

 

The Metals:

 

Gold fell $13.90 to $1198.20 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.25%.  Silver slipped to as low as $17.361 and ended with a loss of 0.11%.

 

Euro gold remained at about €1123, platinum gained $6 to $997, and copper fell a couple of cents to about $2.71.

 

Gold and silver equities fell over 1% at the open and remained near that level for the rest of the morning, but they then jumped back higher in the last two hours of trade and ended near unchanged.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Jan

246K

165K

151K

ISM Index

Jan

56.0

55.0

54.5

Construction Spending

Dec

-0.2%

0.2%

0.9%

 

Fed holds steady, wanting more than just rising confidence  MarketWatch

Trump's first housing move tanks mortgage applications 3.2%  CNBC

 

Tomorrow brings Initial Jobless Claims, Productivity, and Unit Labor Costs.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/2-1gsr/1.png

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

 

Oil rose 2% after the Energy Information Administration reported that crude inventories rose 6.5 million barrels, gasoline inventories rose 3.9 million barrels, and distillates rose 1.6 million barrels.

 

The U.S. dollar index pared early gains and treasuries lessened their losses after the fed left rates unchanged and failed to indicate a raise is coming at their next meeting in March.

 

The Dow, Nasdaq, and S&P traded mostly slightly higher on decent earnings reports.

 

Among the big names making news in the market today were GE, Fiat Chrysler, Toyota, GM, VW, Tesla, and Apple.

 

GATA Posts:

 

 

Where are Russia's vast gold reserves hidden?

 

The Statistics:

As of close of business: 1/31/2017

Gold Warehouse Stocks:

8,972,364.533

-13,953.708

Silver Warehouse Stocks:

179,637,428.327

-1,167,489.60

 

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

799.070

25,690,912

US$30,912m

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$5,348m

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$5,916m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

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: 200.10: +1.20 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,444.47: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) resolved sit-in, Newmont’s (NEM) signing to the World Economic Forum’s (WEF) ‘Compact for Responsive and Responsible Leadership’, SEMAFO’s (SMF.TO) production results, Exeter’s (XRA) advisor appointment, Gold Resource’s (GORO) drill results, and Endeavour Silver’s (EXK) VP appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Richmont

RIC +10.37% $9.05

2.  New Gold

NGD +6.74% $2.85

3.  Almaden

AAU +4.90% $1.07

 

LOSERS

1.  Taseko

TGB -3.40% $1.42

2.  Tahoe Resources

TAHO -1.86% $8.97

3.  Gold Standard

GSV -1.80% $2.73

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

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, 1 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

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