• Gold: 1,293.87 0.20
  • Silver: 17.28 0.01
  • Euro: 1.178 -0.001
  • USDX: 93.662 0.049
  • Oil: 56.81 1.33

Gold Seeker Closing Report: Gold Gains and Silver Surges 2.5%

Chris Mullen
|
Wednesday, November 1st

 

Close

Gain/Loss

Gold

$1275.20

+$4.60

Silver

$17.14

+$0.42

XAU

81.28

+0.10%

HUI

186.28

+0.08%

GDM

624.52

-0.05%

JSE Gold

1407.50

+30.57

USD

94.78

+0.22

Euro

116.18

-0.33

Yen

87.65

-0.37

Oil

$54.30

-0.08$

10-Year

2.369%

-0.007

T-Bond

152.875

+0.40625

Dow

23435.01

+0.25%

Nasdaq

6716.53

-0.17%

S&P

2579.36

+0.16%

 
http://www.goldseek.com/news/2017/2017-11-01_14-04-28.jpg

 

The Metals:

 

Gold gained $10.30 to $1280.90 in London before it chopped back lower at times, but it still ended with a gain of 0.36%. Silver surged to as high as $17.192 and ended with a gain of 2.51%.

 

Euro gold rose to about €1097, platinum gained $14 to $931, and copper climbed 4 cents to about $3.13.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Fed holds rates steady; 'solid' growth keeps December hike in view  Reuters

Fed Signals December Hike On Track a Day Before Trump Announces Next Chair  Bloomberg

Fed more upbeat on economy as it holds rates steady  MarketWatch

Manufacturers still growing like gangbusters, ISM finds  MarketWatch

U.S. construction spending rises in Sept, but August revised lower  Reuters

Growth in U.S. Manufacturing Eased in October From 13-Year High  Bloomberg

U.S. mortgage activity falls to lowest since February: MBA  Reuters

U.S. Companies Add Most Workers in Seven Months, ADP Data Show  Bloomberg

 

Tomorrow brings Initial Jobless Claims and Productivity.

 

The Markets:

 

Oil ended slightly lower after the Energy Information Administration reported that crude inventories fell 2.4 million barrels, gasoline inventories fell 4 million barrels, and distillates dropped 300,000 barrels.

 

The U.S. dollar index remained higher after the fed held rates steady and stayed on track for a hike next month.

 

Treasuries rose after “after the Treasury Department said it would keep auction sizes steady in the coming months.”

 

The Dow, Nasdaq, and S&P traded mostly higher after the fed signaled solid economic growth.

 

Among the big names making news in the market today were Sony, Monsanto, Estee Lauder, Mylan, Ford, and Wal-Mart.

 

GATA Posts:

 

 

Fearing eurozone meltdown, German investors rush to gold

Gold bugs embrace bitcoin, upending retail sellers

Fake gold wasn't ours, Royal Canadian Mint says

 

The Statistics:

As of close of business: 10/31/2017

Gold Warehouse Stocks:

8,690,034.600

-17,143.13

Silver Warehouse Stocks:

225,904,006.422

-

 

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

850.769

27,353,060

US$34,919m

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$5,673m

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$6,265m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 234.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,926.85: No change from yesterday’s data.

 

The Miners:

 

IAMGOLD’s (IAG) project update and Endeavour Silver’s (EXK) new Director of Investor Relations were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +4.05% $1.80

2.  Buenaventura

BVN +3.34% $14.25

3.  Freeport

FCX +2.86% $14.38

 

LOSERS

1.  Endeavour Silver

EXK -4.81% $1.98

2.  Seabridge

SA -3.31% $13.15

3.  Americas Silver

USAS-2.95% $3.95

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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© Gold Seeker 2017

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