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Gold Seeker Closing Report: Gold and Silver Fall Back Off Before Jobs Day
By: Chris Mullen, Gold Seeker Report

 -- Published: Thursday, 5 October 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1268.70

-$6.70

Silver

$16.61

UNCH

XAU

86.06

-0.52%

HUI

199.41

-0.67%

GDM

646.11

-0.61%

JSE Gold

1345.55

-9.00

USD

93.95

+0.50

Euro

117.07

-0.59

Yen

88.65

-0.12

Oil

$50.79

+$0.81

10-Year

2.347%

+0.017

T-Bond

152.3125

-0.25

Dow

22775.39

+0.50%

Nasdaq

6585.36

+0.78%

S&P

2552.07

+0.56%

 
http://www.goldseek.com/news/2017/2017-10-05_14-03-04.jpg

 

The Metals:

 

Gold waffled between $1273.30 and $1278.90 in Asia, but it then drifted back lower in London and New York and ended with a loss of 0.53%. Silver climbed up to $16.738 before it also fell back off, but it managed to close unchanged on the day.

 

Euro gold remained at €1084, platinum lost $1 to $911, and copper climbed 8 cents to about $3.04.

 

Gold and silver equities traded mostly slightly lower and ended with modest losses.

 

The Economy:

 

Senate approves Trump pick as top Federal Reserve regulatory official  Reuters

SF Fed's Williams: Low growth, low rates, likely here to stay  Reuters

U.S. jobless claims fall; trade deficit narrows on strong exports  Reuters

 

Tomorrow brings September’s jobs data, Wholesale Trade, and Consumer Credit.

 

The Markets:

 

Oil rose almost 2% on talk over a possible extension to previously pledged output cuts. Tropical Storm Nate also had traders worried.

 

The U.S. dollar index advanced higher and treasuries fell on steady economic data that kept interest rate outlooks on track and sent the Dow, Nasdaq, and S&P to new highs ahead of tomorrow’s jobs data.

 

Among the big names making news in the market today were Bitcoin, Bombardier, Netflix, UPS, FedEx, and Google.

 

GATA Posts:

 

 

Venezuela suggests global oil trade in Russian ruble, Chinese yuan

Open Mineral Exchange seeks to revolutionize commodity trading with online platform

 

The Statistics:

As of close of business: 10/4/2017

Gold Warehouse Stocks:

8,767,613.620

+6,207.703

Silver Warehouse Stocks:

218,499,441.665

-745,093.481

 

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

854.304

27,466,734

US$34,993m

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$5,654m

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$6,253m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$457m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 229.59: +0.36 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,158.88: No change from yesterday’s data.

 

The Miners:

 

Comstock’s (LODE) JV with Tonogold (TNGL) and Turquoise Hill’s (TRQ) community mine site visit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +3.55% $4.41

2.  Gold Standard

GSV +2.47% $1.66

3.  New Gold

NGD +2.14% $3.81

 

LOSERS

1.  Paramount

PZG -4.23% $1.36

2.  Alio Gold

ALO -3.93% $4.16

3.  IAMGOLD

IAG -3.54% $6.00

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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 -- Published: Thursday, 5 October 2017 | E-Mail  | Print  | Source: GoldSeek.com

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