-- Published: Wednesday, 11 October 2017 | Print | Disqus
| Close | Gain/Loss |
Gold | $1293.00 | +$4.70 |
Silver | $17.21 | +$0.10 |
XAU | 87.14 | +0.46% |
HUI | 202.94 | +0.45% |
GDM | 660.09 | +0.60% |
JSE Gold | 1316.86 | -36.31 |
USD | 92.92 | -0.31 |
Euro | 118.62 | +0.46 |
Yen | 88.90 | -0.07 |
Oil | $51.30 | +$0.38 |
10-Year | 2.349% | UNCH |
T-Bond | 152.4375 | -0.0625 |
Dow | 22872.89 | +0.18% |
Nasdaq | 6603.55 | +0.25% |
S&P | 2555.24 | +0.18% |
The Metals:
Gold gained $2.80 to $1291.10 at about 9AM EST before it fell back to $1284.70 in early afternoon trade, but it then jumped back higher into the close and ended with a gain of 0.36%. Silver rose to as high as $17.23 and ended with a gain of 0.58%.
Euro gold remained at about €1090, platinum gained $1 to $931, and copper climbed 3 cents to about $3.08.
Gold and silver equities fell roughly 1% by midmorning, but they then rallied back higher in the last 2 hours of trade and ended with modest gains.
The Economy:
Fed minutes: December rate hike all but certain despite low inflation CNBC
Fed split on inflation intensified at September policy meeting: minutes Reuters
Fed Inflation Debate Finds Some Officials on Rate-Hike Fence Bloomberg
December rate hike not automatic, minutes of last month's meeting show MarketWatch
Fed's Evans Says Weak Inflation May Not Be Temporary Phenomenon Bloomberg
Dimon Says Time to ‘Get It Done’ on Modernizing U.S. Tax Code Bloomberg
Job openings in the U.S. fall slightly in August but still near record high MarketWatch
Tomorrow brings PPI, Initial Jobless Claims, and the Treasury Budget.
The Markets:
Oil rose almost 1% after OPEC raised its forecast for crude demand.
The U.S. dollar index fell after today’s FOMC Minutes were more dovish than most expected.
Treasuries edged lower as the Dow, Nasdaq, and S&P closed higher on optimism that a data dependent fed will remain accommodative.
Among the big names making news in the market today were Uber, Bitcoin, VW, Kroger, Alibaba, and Qualcomm.
GATA Posts:
World is turning its back on the dollar, Saxo Bank FX strategist writes
China will 'compel' Saudis to trade oil in yuan, economist tells CNBC
LME to expand trading around gold and silver reference prices
Russian central bank may boost gold trading on Moscow exchange
The Statistics:
As of close of business: 10/10/2017
Gold Warehouse Stocks: | 8,770,885.820 | -489.35 |
Silver Warehouse Stocks: | 219,743,756.661 | -356,688.64 |
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 | 858.450 | 27,600,037 | US$35,579m |
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$5,719m |
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$6,324m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$464m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | awaited | awaited | US$awaited |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 228.69: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,132.44: No change from yesterday’s data.
The Miners:
Pretium’s (PVG) third quarter production, Tanzanian Royalty’s (TRX) comments on nationalization, Taseko’s (TGB) board appointment, Comstock’s (LODE) debt reduction, B2Gold’s (BTG) first gold pour, and Fortuna’s (FSM) exploration update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Pretivm | PVG +25.1% $12.11 |
2. Northern Dynasty | NAK +7.98% $2.03 |
3. Seabridge | SA +3.56% $13.10 |
LOSERS
1. DRDGOLD | DRD -2.69% $3.62 |
2. Gold Fields | GFI -2.64% $4.05 |
3. Almaden | AAU -2.42% $1.17 |
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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-- Published: Wednesday, 11 October 2017 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Jump Higher After FOMC Minutes
