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Gold Seeker Closing Report: Gold and Silver Fall Almost 1% While Stocks Rise on Trump Talk
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 9 February 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1231.50

-$9.00

Silver

$17.67

-$0.10

XAU

94.02

-2.80%

HUI

 215.98

-2.51%

GDM

 696.02

-2.08%

JSE Gold

1568.29

-43.94

USD

100.61

+0.34

Euro

106.64

-0.32

Yen

88.36

-0.96

Oil

$53.00

+$0.66

10-Year

2.395%

+0.044

T-Bond

152.09375

-1.1875

Dow

20172.40 

+0.59%

Nasdaq

 5715.18

+0.58%

S&P

 2307.87

+0.58%

 
 
http://goldseek.com/news/GoldSeeker/2017/2-9gsr/1.jpg

 

The Metals:

 

Gold waffled between $1243.70 and $1236.80 in London before it edged up to $1244.20 by a little before 10AM EST, but it then dropped to as low as $1230.40 in afternoon trade and ended with a loss of 0.73%.  Silver slipped to as low as $17.619 and ended with a loss of 0.56%.

 

Euro gold fell to about €1155, platinum remained at $1013, and copper fell a penny to about $2.67.

 

Gold and silver equities dropped roughly 2% in the first hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

2/04

234K

250K

246K

Wholesale Inventories

Dec

1.0%

1.0%

1.0%

 

Fed's Bullard says rates can remain low through 2017  Reuters

Mortgage rates fall again as Trump trade fizzles out  MarketWatch

BlackRock’s Larry Fink sees ‘dark shadows’ in markets  MarketWatch

 

Tomorrow brings Export and Import Prices, Michigan Sentiment, and the Treasury Budget.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/2-9gsr/1.png

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

 

Oil rose over 1% more in continued reaction to yesterday’s surprise decline in gasoline inventories.

 

The U.S. dollar index saw decent gains and treasuries fell as the Dow, Nasdaq, and S&P climbed higher “after President Donald Trump said long-awaited details on promised tax cuts would emerge within weeks.”

 

Among the big names making news in the market today were Thomson Reuters, Coca-Cola, UniCredit, Total, Whole Foods, Anthem, and Twitter.

 

GATA Posts:

 

 

Germany brings its gold stash home sooner than planned

 

The Statistics:

As of close of business: 2/8/2017

Gold Warehouse Stocks:

8,983,447.470

+47,862.91

Silver Warehouse Stocks:

182,067,145.199

+1,189,997.73

 

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

832.577

26,768,192

US$33,104m

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$5,484m

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$6,051m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$442m

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 5.629 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.30: No change from yesterday’s data.

 

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

 

The Miners:

 

Alamos Gold’s (AGI) closed financing, Gold Standard’s (GSV) assay results, Fortuna’s (FSM) closed financing, and Coeur’s (CDE) fourth quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Nevsun

NSU +0.97% $3.12

 

LOSERS

1.  Coeur

CDE -21.88% $9.39

2.  Gold Fields

GFI -6.70% $3.34

3.  First Majestic

AG -4.94% $10.20

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: Thursday, 9 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

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