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Gold Seeker Closing Report: Gold and Silver Gain Over 1% While Stocks and Oil Drop – Miners Shine
By: Chris Mullen,

 -- Published: Monday, 6 February 2017 | Print  | Disqus 



















JSE Gold































The Metals:


Gold gained $5.98 to $1224.98 in early Asian trade and rose to as high as $1230.08 in London before it pared back in midmorning New York trade, but it then rallied back higher again into the close and ended near its late session high of $1235.52 with a  gain of 1.29%.  Silver rose to as high as $17.748 and ended with a gain of 1.55%.


Euro gold rose to about €1148, platinum gained $9 to $1010, and copper climbed 3 cents to about $2.65.


Gold and silver equities rose over 1% at the open before they fell back towards unchanged in the next 20 minutes of trade, but they rallied back higher for most of the rest of the day and ended with about 3.5% gains.


The Economy:


Goldman Sachs Economists Are Starting to Worry About President Trump  Bloomberg

Trump and trade: U.S. deficits back in limelight  MarketWatch

Fed's U.S. employment yardstick rebounds in January  MarketWatch


Tomorrow brings the Trade Balance and Consumer Credit.


The Markets:

Charts Courtesy of


Oil fell 1.5% on oversupply concerns.


The U.S. dollar index ended modestly higher as the euro dropped after “European Central Bank President Mario Draghi said that despite signs of improving economic conditions, the region’s economy was not yet strong enough to withdraw stimulus.”


Treasuries saw notable gains as the Dow, Nasdaq, and S&P dropped on worries about “the timing and scope of promised pro-growth policies from the Trump administration.”


Among the big names making news in the market today were Deutsche Bank, Tiffany, Facebook, Google, Tyson Foods, and Hasbro.


GATA Posts:



Deutsche Bank purchases ads to apologize for 'serious errors'

China stocked up on Swiss gold as turbulent year came to a close

London gold traders to open vaults in transparency push

U.K.-based class action planned against worldwide gold and silver rigging


The Statistics:

As of close of business: 2/3/2017

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.287 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.91: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,410.74: No change from yesterday’s data.


The Miners:


Randgold’s (GOLD) fourth quarter results, B2Gold’s (BTG) 2016 production results, and Hecla’s (HL) fourth quarter results release date were among the big stories in the gold and silver mining industry making headlines today.



1.  Pretivm

PVG +13.45% $12.40

2.  Gold Resource

GORO +9.50% $6.11

3.  NovaGold

NG +9.38% $5.95



1.  New Gold

NGD -1.03% $2.88

2.  Nevsun

NSU -0.96% $3.08

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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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. 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’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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