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Gold Seeker Closing Report: Gold and Silver Swing Back to Gains
By: Chris Mullen,

 -- Published: Wednesday, 8 February 2017 | Print  | Disqus 



















JSE Gold































The Metals:


Gold gained $11.80 to $1244.80 in midmorning New York trade before it drifted back lower in the next few hours, but it still ended with a gain of 0.61%.  Silver rose to as high as $17.866 and ended with a gain of 0.34%.


Euro climbed to about €1161, platinum gained $10 to $1013, and copper climbed 3 cents to about $2.68.


Gold and silver equities rose roughly 1% at the open and remained near that level for the rest of the day.


The Economy:


Demand for Treasuries Is Now a ‘Made in the U.S.A.’ Phenomenon Bloomberg

Kashkari Says Economy Still Needs Low Rates as Inflation Lags Bloomberg


Tomorrow brings Initial Jobless Claims and Wholesale Inventories.


The Markets:

Charts Courtesy of


Oil reversed higher after the Energy Information Administration reported that crude inventories rose 13.8 million barrels, gasoline inventories surprisingly fell 900,000 barrels, and distillates were unchanged.


The U.S. dollar index dropped and treasuries rose on growing belief that uncertainty over Trump’s policies will prevent the fed from raising rates in March.


The Dow, Nasdaq, and S&P bounced back from morning losses and ended mixed on oil’s rebound.


Among the big names making news in the market today were Intel, Panera, Nordstrom, Rio Tinto, Time Warner, Disney, and Allergan.


GATA Posts:



Druckenmiller buys gold after reversing November stance

'The whole world is buying gold here,' Eric Sprott tells King World News

Gold miners burned by bad deals are again rushing to M&A

Ronan Manly: New gold futures contracts in London are open but no one trades them

U.S. government has only itself to blame for dollar strength, Bundesbank chief says


The Statistics:

As of close of business: 2/7/2017

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 8.295 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.30: +0.39 change from yesterday’s data.


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


The Miners:


Goldcorp’s (GG) acquisition of a gold stream from New Gold (NGD), Eurasian’s (EMXX) progress update, Jaguar’s (JAG.TO) drill results, and Almaden’s (AAU) drill results were among the big stories in the gold and silver mining industry making headlines today.



1.  New Gold

NGD +6.71% $3.02

2.  Vista Gold

VGZ +6.70% $1.20


DRD +5.09% $6.40



1.  Almaden

AAU -3.60% $1.21

2.  Buenaventura

BVN-1.73% $14.18

3.  Taseko

TGB -1.41% $1.40

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 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. 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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 -- Published: Wednesday, 8 February 2017 | E-Mail  | Print  | Source:

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