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Gold Seeker Closing Report: Gold and Silver Fall While Stocks Climb To New Highs
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 13 February 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1225.90

-$8.10

Silver

$17.82

-$0.12

XAU

94.51

-0.95%

HUI

216.16

-1.21%

GDM

697.05

-0.79%

JSE Gold

1530.95

-5.58

USD

100.99

+0.23

Euro

105.97

-0.43

Yen

87.95

-0.39

Oil

$52.93

-$0.93

10-Year

2.434%

+0.025

T-Bond

151.46875

-0.4375

Dow

20412.16

+0.70%

Nasdaq

5763.96

+0.52%

S&P

2328.25

+0.52%

 
 
http://goldseek.com/news/GoldSeeker/2017/2-13gsr/1.jpg

 

The Metals:

 

Gold fell $14.60 to $1219.40 in late morning New York trade before it rallied back higher into the close, but it still ended with a loss of 0.66%.  Silver slipped to as low as $17.759 and ended with a loss of 0.67%.

 

Euro gold fell to about €1157, platinum lost $11 to $996, and copper climbed 2 more cents to about $2.81.

 

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

 

The Economy:

 

Yellen Unlikely to Rule Out March Hike in Capitol Hill Testimony Bloomberg

U.S. inflation expectations at highest level since 2015: NY Fed Reuters

Why Yellen will hold her interest-rate cards close in front of Congress MarketWatch

 

Tomorrow brings PPI.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/2-13gsr/1.png

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

 

Oil dropped almost 2% on concerns about rising US production.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P climbed to new record highs on renewed optimism over President Trump’s pro-growth policies.

 

Among the big names making news in the market today were Tesla, Boeing, Allergan, and Chemours.

 

GATA Posts:

 

 

Western central bank gold is running low, von Greyerz tells KWN

Ed Steer's Gold & Silver Daily letter for Saturday posted at GoldSeek

Russia notes that German gold in U.S. was just a mirage

 

The Statistics:

As of close of business: 2/10/2017

Gold Warehouse Stocks:

8,911,107.970

-72,339.50

Silver Warehouse Stocks:

181,738,418.535

-

 

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

836.725

26,901,543

US$32,876m

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$5,435m

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$6,002m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

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 4.148 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.90: No change from yesterday’s data.

 

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

 

The Miners:

 

McEwen’s (MUX) proposed arrangement with Lexam Gold, B2Gold’s (BTG) exploration update, and Silver Standard’s (SSRI) project sale were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +6.71% $1.59

2.  New Gold

NGD +4.00% $3.12

3.  Almaden

AAU +2.44% $1.26

 

LOSERS

1.  Northern Dynasty

NAK -5.36% $3.18

2.  Alexco

AXU -4.10% $1.87

3.  Eldorado

EGO -2.90% $3.68

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: Monday, 13 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

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