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Gold Seeker Closing Report: Gold and Silver Erase Early Losses and End Higher
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 15 February 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1232.60

$5.20

Silver

$17.97

$0.03

XAU

93.40

-0.91%

HUI

215.90

+0.12%

GDM

693.08

-0.14%

JSE Gold

1509.42

-21.36

USD

101.07

-0.16

Euro

106.05

+0.27

Yen

87.65

+0.14

Oil

$53.11

-$0.09

10-Year

2.502%

+0.032

T-Bond

150.03125

-0.59375

Dow

20611.86

+0.52%

Nasdaq

5819.44

+0.64%

S&P

2349.25

+0.50%

 
 
http://goldseek.com/news/GoldSeeker/2017/2-15gsr/1.jpg

 

The Metals:

 

Gold fell $10 to $1217.40 by a little after 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.42%.  Silver slipped to as low as $17.76 before it jumped back to $17.982 and then chopped back lower at times, but it still ended with a gain of 0.17%.

 

Euro gold rose to about €1163, platinum gained $7.50 to $1005.50, and copper remained at about $2.77.

 

Gold and silver equities fell nearly 2% at the open, but they then rallied back to roughly unchanged by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Jan

0.6%

0.3%

0.3%

Core CPI

Jan

0.3%

0.2%

0.2%

Retail Sales

Jan

0.4%

0.1%

1.0%

Retail Sales ex-auto

Jan

0.8%

0.4%

0.4%

Empire Manufacturing

Feb

18.7

7.0

6.5

Capacity Utilization

Jan

75.3%

75.5%

75.6%

Industrial Production

Jan

-0.3%

0.0%

0.6%

Business Inventories

Dec

0.4%

0.4%

0.8%

NAHB Housing Market Index

Feb

65

68

67

 

Markets Learn to Live With a More Hawkish Yellen  Bloomberg

Fed's Rosengren sees 'at least' three rate hikes per year  Reuters

U.S. data points to strengthening domestic demand and inflation  Reuters

U.S. home refinance activity falls despite lower mortgage rates  Reuters

 

Tomorrow brings Initial Jobless Claims, Housing Starts, Building Permits, and the Philadelphia Fed.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/2-15gsr/1.png

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

 

Oil edged lower after the Energy Information Administration reported that crude inventories rose 9.5 million barrels, gasoline inventories rose 2.8 million barrels, and distillates fell 700,000 barrels.

 

The U.S. dollar index erased early gains and ended lower on uncertainty over whether or not upcoming economic data will be strong enough to warrant a rate hike in March.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose to new record highs again on optimism that recent economic strength can continue.

 

Among the big names making news in the market today were SodaStream, Groupon, Evoke Pharma, Verizon and Yahoo, and PepsiCo.

 

GATA Posts:

 

 

Now devout Muslims can help bullion banks and central banks short gold

GoldMoney's brain trust discusses the new year's market outlook

Ted Butler sees explosive potential in silver futures market positioning

 

The Statistics:

As of close of business: 2/14/2017

Gold Warehouse Stocks:

8,914,194.370

-

Silver Warehouse Stocks:

183,601,515.555

+536,977.57

 

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

840.872

27,034,888

US$33,096m

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$5,464m

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$6,042m

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: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.29: 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) feasibility study, Pan American’s (PAAS) error correction, and Golden Minerals’ (AUMN) Preliminary Economic Assessment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +2.89% $2.85

2.  Americas Siler

USAS +2.76% $3.35

3.  Alamos

AGI +2.01% $8.63

 

LOSERS

1.  Pan American

PAAS -7.00% $19.39

2.  First Majestic

AG -3.75% $10.02

3.  Pretivm

PVG -3.33% $11.31

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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: Wednesday, 15 February 2017 | E-Mail  | Print  | Source: GoldSeek.com

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