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Gold Seeker Closing Report: Gold and Silver Fall Almost 1% After Fed
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 20 September 2017 | Print  | Disqus 

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The Nexus Conference is Your Connection to the Future


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JSE Gold































The Metals:


Gold gained $4.80 to $1315.90 in London before it dropped back to $1310.90 in early New York trade and then bounced back higher into midday, but it then fell to a new session low of $1296.10 after the release of today’s fed announcement and ended with a loss of 0.8%. Silver slipped to as low as $16.968 and ended with a loss of 0.92%.


Euro gold rose to about €1094, platinum lost $13 to $940, and copper remained at about $2.96.


Gold and silver equities rose over 1% by midmorning before they fell to see roughly 3% losses by midafternoon, but they then edged back higher into close and ended less than 2% lower on the day.


The Economy:


Still on course: Fed signals one more rate hike in 2017  MarketWatch

Fed approves October reversal of historic stimulus, leaves rates unchanged  CNBC

Fed keeps rates steady, approves portfolio cuts in October  Reuters

Fed Asset-Shrinking to Start Next Month; Rate Hike Seen in '17  Bloomberg

Text of September FOMC statement  MarketWatch

Existing home sales fall in August for the fourth time in five months  MarketWatch


Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, the FHFA House Price Index, and Leading Indicators.


The Markets:


Oil extended higher after the Energy Information Administration reported that crude inventories rose 4.6 million barrels, gasoline inventories fell 2.1 million barrels, and distillates fell 5.7 million barrels.


The U.S. dollar index jumped higher and treasuries fell while the Dow, Nasdaq, and S&P traded mixed after the fed announced a more hawkish stance than most were expecting.


Among the big names making news in the market today were Volkswagen, Bitcoin, Toshiba, UPS, and General Mills.


GATA Posts:



Bullion Star details Chinese gold mining as a source of gold supply


The Statistics:

As of close of business: 9/19/2017

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 2.069 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 221.34: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,106.00: -35.26 change from yesterday’s data.


The Miners:



1.  Taseko

TGB +7.95% $1.90

2.  Alexco

AXU +3.92% $1.59

3.  Northern Dynasty

NAK +2.63% $1.95



1.  Harmony

HMY -5.03% $1.89


DRD -4.39% $3.70

3.  Kinross

KGC -4.20% $4.33

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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© 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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