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Gold Seeker Closing Report: Gold Gains Nearly 1% and Silver Surges Over 2%
By: Chris Mullen, Gold Seeker Report

 -- Published: Monday, 6 November 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1281.00

+$10.90

Silver

$17.24

+$0.40

XAU

82.28

+1.92%

HUI

188.65

+1.41%

GDM

634.56

+1.77%

JSE Gold

1417.79

+31.33

USD

94.74

-0.20

Euro

116.11

-0.02

Yen

87.92

+0.24

Oil

$57.35

+$1.71

10-Year

2.317%

-0.015

T-Bond

154.25

+0.59375

Dow

23548.42

+0.04%

Nasdaq

6786.44

+0.33%

S&P

2591.13

+0.13%

 
http://www.goldseek.com/news/2017/2017-11-06_14-00-48.jpg

 

The Metals:

 

Gold fell $3.80 to $1266.30 in Asia, but it then shot to as high as $1282.70 in early afternoon New York trade and ended with a gain of 0.86%. Silver surged to as high as $17.255 and ended with a gain of 2.38%.

 

Euro gold rose above 1103, platinum gained $15 to $933, and copper climbed 5 cents to about $3.16.

 

Gold and silver equities rose roughly 2% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Purge of Saudi princes, businessmen widens, travel curbs imposed  Reuters

‘Panic’ could set in after Saudi purge nabs ‘Warren Buffett of the Middle East’   MarketWatch

Departure of Dudley hangs another question over Fed leadership  Reuters

China's Central Bank Chief Warns of 'Sudden, Contagious and Hazardous' Financial Risks  Bloomberg

 

Tomorrow brings Consumer Credit.

 

The Markets:

 

Oil jumped over 3% more on political unrest in the Middle East that sent the U.S. dollar index lower and treasuries higher.

 

The Dow, Nasdaq, and S&P traded mostly higher on deal making news and hopes that President Trump will make progress on his trip through Asia.

 

Among the big names making news in the market today were 21st Century and Disney, Amazon, Philip Morris, DBS, Qatar Airways and Cathay Pacific, Goldman Sachs, and Broadcom and Qualcomm.

 

GATA Posts:

 

 

Ronan Manly: Will anyone notice LME's new gold and silver reference prices?

 

The Statistics:

As of close of business: 11/3/2017

Gold Warehouse Stocks:

8,713,815.633

+6,637.91

Silver Warehouse Stocks:

229,983,515.042

+2,837,715.15

 

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

845.747

27,191,603

US$34,444m

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$5,681m

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$6,270m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$460m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.295 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 235.19: +0.90 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.58: No change from yesterday’s data.

 

The Miners:

 

International Tower Hills (THM) third quarter results, Buenaventura’s (BVN) resumed operations, Franco-Nevada’s (FNV) third quarter results, and Alamos Gold’s (AGI) plan of arrangement with Richmont (RIC) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Endeavour Silver

EXK +6.76% $2.21

2.  Franco-Nevada

FNV +6.14% $84.50

3.  First Majestic

AG +5.73% $6.83

 

No “losers” today.

 

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: Monday, 6 November 2017 | E-Mail  | Print  | Source: GoldSeek.com

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