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Gold Seeker Closing Report: Gold and Silver End Mixed While Oil Jumps
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 28 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1322.90

-$4.30

Silver

$19.16

+$0.02

XAU

95.67

+2.89%

HUI

235.01

+2.49%

GDM

746.52

+1.73%

JSE Gold

2058.93

-12.02

USD

95.43

UNCH

Euro

112.16

-0.02

Yen

99.32

-0.29

Oil

$47.05

+$2.38

10-Year

1.567%

+0.011

T-Bond

169.1875

-0.25

Dow

18339.24

+0.61%

Nasdaq

5318.55

+0.24%

S&P

2171.37

+0.53%

 
 
http://goldseek.com/news/GoldSeeker/2016/9-28gsr/1.jpg

 

The Metals:

 

Gold dipped $4.46 to $1322.74 in Asia before it edged back to $1326.89 in London and then fell to a new session low of $1318.20 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.32%.  Silver slipped to as low as $18.916 at one point, but it then rallied back higher into the close and ended with a gain of 0.1%.

 

Euro gold dropped to about €1180, platinum lost $2 to $1022, and copper climbed a few cents to about $2.20.

 

Gold and silver equities climbed higher in afternoon trade and ended with about 2% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Orders

Aug

0.0%

-1.9%

3.6%

Durable Orders, Ex-Trans.

Aug

-0.4%

-0.4%

1.1%

 

Fed's Yellen: Big U.S. bank conditions have improved 'considerably' since crisis MarketWatch

Yellen Sees Solid Job Growth, No Fixed Timetable for Rate Rise Bloomberg

Fed's Kashkari, echoing Yellen, says U.S. economy has room to run  Reuters

Fed's Evans says low interest rates likely here for some time  Reuters

 

Tomorrow brings GDP, Initial Jobless Claims, International Trade in Goods, and Pending Home Sales.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/9-28gsr/1.png

Charts Courtesy of http://finance.yahoo.com/

 

Oil jumped over 5% higher on reports that OPEC reached a deal to freeze oil output.

 

The U.S. dollar index held near unchanged on tame Fedspeak.

 

Treasuries erased early gains after the Dow, Nasdaq, and S&P followed the oil market higher in afternoon trade.  Today’s $28 billion 7-year note auction sold at a yield of 1.389% with a bid to cover of 2.47.

 

Among the big names making news in the market today were Anavex, BlackBerry, Chesapeake Energy, Deutsche Bank, and Wells Fargo.

 

GATA Posts:

 

 

Gold miner Petropavlovsk turns first profit since 2012

Shandong Gold said to be top bidder for $2 billion Glencore mine

First up: a gold depository in Texas. And then?

'Debt binge' will implode world financial system, Embry says

Randgold chief sees gold supply problem

 

The Statistics:

As of close of business: 9/27/2016

Gold Warehouse Stocks:

10,575,923.641

-33,649.165

Silver Warehouse Stocks:

173,396,824.398

+1,182,720.88

 

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

949.139

30,515,760

US$40,345m

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$5,873m

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$6,483m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$475m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.56

1,239,670

US$1,656m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.077 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 226.68: +0.39 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,337.95: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  McEwen

MUX +8.24% $3.81

2.  Freeport

FCX +6.86% $10.91

3.  B2Gold

BTG +5.49% $2.69

 

LOSERS

1.  Gold Standard

GSV -1.63% $2.41

2.  New Gold

NGD -1.33% $4.46

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

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, 28 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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