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

 -- Published: Thursday, 2 February 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1215.30

+$6.20

Silver

$17.47

-$0.06

XAU

93.11

+1.48%

HUI

211.94

+2.25%

GDM

678.43

+1.99%

JSE Gold

1554.35

+50.58

USD

99.79

+0.07

Euro

107.63

-0.06

Yen

88.70

+0.40

Oil

$53.54

-$0.34

10-Year

2.470%

-0.004

T-Bond

150.375

-0.0625

Dow

19884.91

-0.03%

Nasdaq

5636.20

-0.11%

S&P

2280.85

+0.06%

 
 

 

The Metals:

 

Gold gained $16.24 to $1225.34 by a little before 9AM EST before it drifted back lower for most of the rest of trade, but it still ended with a gain of 0.51%.  Silver climbed up to $17.727 before it fell all of the way back to $17.411 and then bounced back higher in late trade, but it still ended with a loss of 0.34%.

 

Euro gold rose to about €1129, platinum remained at $997, and copper fell a couple of cents to about $2.69.

 

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

 

The Economy:

 

Report

For

Reading

Expected

Previous

Productivity

Q4

1.3%

1.0%

3.5%

Unit Labor Costs

Q4

1.7%

1.9%

0.2%

Initial Claims

1/28

246K

250K

260K

 

Tomorrow brings January’s jobs data, Factory Orders, and ISM Services.

 

The Markets:

 

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

 

Oil edged lower on continued concerns about rising US production.

 

The U.S. dollar index reversed early losses and ended slightly higher while treasuries erased morning gains as the Dow, Nasdaq, and S&P traded mixed in anticipation of tomorrow’s jobs report.

 

Among the big names making news in the market today were Nestle, Starbucks, Deutsche Bank, and Facebook.

 

GATA Posts:

 

 

Whom will Trump blast next over their currencies?

Trump devaluation claims raise fears of global currency war

 

The Statistics:

As of close of business: 2/1/2017

Gold Warehouse Stocks:

8,928,158.283

-44,206.25

Silver Warehouse Stocks:

178,292,838.107

-1,344,590.22

 

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

809.737

26,033,846

US$31,325m

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$5,406m

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$5,979m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$436m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 10.667 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.40: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,414.99: -29.48 change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) audit results, Richmont’s (RIC) 2017 guidance, Gold Standard’s (GSV) exploration program, Excellon’s (EXN.TO) drill results, and Tahoe’s (TAHO) dividend were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Almaden

AAU +8.41% $1.16

2.  Exeter

XRA +6.70% $1.04

3.  Alamos

AGI +4.03% $8.01

 

LOSERS

1.  B2Gold

BTG -2.84% $3.08

2.  Sandstorm

SAND -2.44% $4.39

3.  Northern Dynasty

NAK -2.30% $2.97

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

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