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Gold Seeker Closing Report: Gold Erases Early Dip and Ends Higher on the Day
By: Chris Mullen, Gold Seeker Report

 -- Published: Thursday, 14 September 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1327.50

+$5.90

Silver

$17.75

UNCH

XAU

88.88

+0.52%

HUI

208.21

+0.84%

GDM

675.06

+0.32%

JSE Gold

1380.92

-3.55

USD

92.16

-0.29

Euro

119.08

+0.23

Yen

90.55

+0.11

Oil

$49.89

+$0.59

10-Year

2.194%

-0.001

T-Bond

156.4375

+0.34375

Dow

22203.48

+0.20%

Nasdaq

6429.08

-0.48%

S&P

2495.62

-0.11%

 
http://www.goldseek.com/news/2017/2017-09-14_14-02-44.jpg

 

The Metals:

 

Gold edged up to $1326.50 in London before it dropped back to $1315.80 just after 8:30AM EST, but it then climbed to a new session high at $1330.20 in early afternoon trade and ended with a gain of 0.45%. Silver rose to as high as $17.783 and ended unchanged on the day.

 

Euro gold rose to about €1115, platinum gained $3 to $981, and copper fell 3 cents to about $2.95.

 

Gold and silver equities waffled near unchanged for most of the morning, but they then climbed higher in afternoon trade and ended almost 1% higher on the day.

 

The Economy:

 

Mortgage rates hold at 2017 lows  MarketWatch

Gasoline, rents boost U.S. consumer inflation; weekly jobless claims fall  Reuters

U.S. Inflation Picks Up, Ending Five-Month Streak of Misses  Bloomberg

 

Tomorrow brings Retail Sales, the Empire State Manufacturing Survey, Industrial Production, Consumer Sentiment, and Business Inventories.

 

The Markets:

 

Oil gained over 1% after both OPEC and the IEA increased their demand forecasts.

 

The U.S. dollar index fell and treasuries rose as the Nasdaq and S&P edged off yesterday’s record highs on concerns about North Korea.

 

Among the big names making news in the market today were Halozyme, Equifax, Lattice, Bitcoin, and Aramco.

 

GATA Posts:

 

 

David Morgan: China's gold-oil link, debt ceiling repeal will boost metals

GoldSeek's Peter Spina notes death of market analyst Julian D.W. Phillips

Bitcoin exchange BTCChina says it will stop trading, sparking further slide

Gold researcher Jansen skeptical about supposed China oil contract backed by gold

Ex-UBS trader accused by U.S. of manipulating precious metals prices

 

The Statistics:

As of close of business: 9/13/2017

Gold Warehouse Stocks:

8,696,115.287

-803.75

Silver Warehouse Stocks:

218,296,835.304

+594,502.50

 

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

838.640

26,963,102

US$35,709m

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$5,886m

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$6,505m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$475m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 220.92: +0.59 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,173.58: No change from yesterday’s data.

 

The Miners:

 

Timberline’s (TBR.V) test results and Eldorado Gold’s (EGO) arbitration notice were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eldorado Gold

EGO +3.93% $2.38

2.  DRDGOLD

DRD +3.55% $4.08

3.  Gold Fields

GFI +3.27% $4.42

 

LOSERS

1.  Tahoe Resources

TAHO -3.05% $5.73

2.  Taseko

TGB -1.56% $1.89

3.  Paramount

PZG -1.13% $1.75

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

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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. 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, 14 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

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