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Gold Seeker Closing Report: Gold and Silver End Slightly Higher While Stocks Dip Again
By: Chris Mullen, Gold Seeker Report

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

 

Close

Gain/Loss

Gold

$1265.40

+$3.20

Silver

$16.18

+$0.05

XAU

83.01

+1.77%

HUI

185.63

+1.74%

GDM

630.29

+1.59%

JSE Gold

1217.37

+1.06

USD

93.31

-0.14

Euro

118.72

+0.30

Yen

88.37

-0.41

Oil

$58.09

+$0.53

10-Year

2.499%

+0.048

T-Bond

150.5625

-0.9375

Dow

24726.65

-0.11%

Nasdaq

6960.96

-0.04%

S&P

2679.25

-0.08%

 
http://www.goldseek.com/news/2017/2017-12-20_15-06-49.jpg

 

The Metals:

 

Gold gained $4.10 to $1266.30 in London before it fell back to $1262.00 in midmorning New York trade, but it then jumped to a new session high of $1267.80 by early afternoon and ended with a gain of 0.25%. Silver rose to as high as $16.246 and ended with a gain of 0.31%.

 

Euro gold fell to about €1065, platinum gained $5 to $917, and copper climbed 4 cents to about $3.17.

 

Gold and silver equities rose nearly 2% by early afternoon and remained near that level into the close.

 

The Economy:

 

U.S. House approves sweeping tax bill in a win for Trump  Reuters

U.S. Sales of Existing Homes Climb to an Almost 11-Year High  Bloomberg

U.S. regulator says bitcoin currently not a threat to banking system  Reuters

U.S. mortgage activity falls to 10-month low - MBA  Reuters

 

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

 

The Markets:

 

Oil remained higher after the Energy Information Administration reported that crude inventories fell 6.5 million barrels, gasoline inventories rose 1.2 million barrels, and distillates rose 769,000 barrels.

 

The U.S. dollar index drifted lower and treasuries fell while the Dow, Nasdaq, and S&P held near unchanged after Congress approved a tax overhaul package and sent it to President Trump’s desk for signature.

 

Among the big names making news in the market today were Subaru, Philip Morris, Stitch Fix, Nike, Uber, Spark Therapeutics, Bitcoin, and Micron.

 

GATA Posts:

 

 

Litecoin founder says he has sold all his holdings in the cryptocurrency

Keith Barron struck it rich in Ecuador and now is looking for the lost cities of gold

Pakistan examines Chinese proposal to replace dollar with yuan

South Korean bitcoin exchange Youbit closes after second hack attack

 

The Statistics:

As of close of business: 12/19/2017

Gold Warehouse Stocks:

9,152,440.023

-6,815.80

Silver Warehouse Stocks:

238,468,101.759

-652,617.326

 

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

836.020

26,878,879

US$33,982m

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$5,620m

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$6,210m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.181 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 244.30: +0.33 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,150.22: No change from yesterday’s data.

 

The Miners:

 

Almaden’s (AAU) assay results, SEMAFO’s (SMF.TO) construction update, and Great Panther’s (GPL) updated Mineral Resource Estimate were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alio Gold

ALO +14.14% $3.47

2.  Great Panther

GPL +8.26% $1.31

3.  Gold Standard

GSV +4.88% $1.72

 

LOSERS

1.  Northern Dynasty

NAK +4.44% $1.72

2.  Avino

ASM -1.49% $1.32

3.  Coeur

CDE -0.67% $7.46

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com 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. 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: Wednesday, 20 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

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