• Gold: 1,291.43 -2.24
  • Silver: 17.19 -0.08
  • Euro: 1.174 -0.006
  • USDX: 93.981 0.319
  • Oil: 56.77 -0.04

October 16: Gold and Silver Fall Back Off in Late Trade

Chris Mullen
|
Monday, October 16th

 

Close

Gain/Loss

Gold

$1294.50

-$9.10

Silver

$17.22

-$0.17

XAU

86.14

-1.31%

HUI

199.71

-1.51%

GDM

651.44

-1.60%

JSE Gold

1336.18

+40.50

USD

93.30

+0.21

Euro

118.21

+0.02

Yen

89.39

+0.01

Oil

$51.87

+$0.42

10-Year

2.275%

-0.005

T-Bond

153.90625

-0.09375

Dow

22956.96

+0.37%

Nasdaq

6624.00

+0.28%

S&P

2557.64

+0.18%

 
http://www.goldseek.com/news/2017/2017-10-16_14-07-15.jpg

 

The Metals:

 

Gold gained $2.40 to $1306 in early New York trade, but it then fell back off into the close and ended near its late session low of $1291.80 with a loss of 0.7%. Silver slipped to as low as $17.137 and ended with a loss of 0.98%.

 

Euro gold fell to about €1098, platinum lost $16.50 to $928, and copper climbed 10 cents to about $3.22.

 

Gold and silver equities saw slight gains at the open, but they then fell back off for most of the rest of trade and ended with over 1% losses on the day.

 

The Economy:

 

As the quartet breaks up, central banking leadership flux looms  Reuters

Roubini: Global economy appears to be in a sweet spot  MarketWatch

Empire State index jumps to three-year high in October  MarketWatch

Credit card data shows delinquencies rose in September  Reuters

 

Tomorrow brings Import and Export Prices, Industrial Production, the Housing Market Index, and Treasury International Capital.

 

The Markets:

 

Oil rose almost 1% on renewed tensions in the Middle East.

 

The U.S. dollar index closed higher and treasuries edged lower on decent economic data that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Sears, T-Mobile, Sprint, Nordstrom, Colony Capital, and Goldman Sachs.

 

GATA Posts:

 

 

China proposes to buy 5 percent of Saudi Aramco directly, sources tell Reuters

Russia's 'cryptorubles' won't be very crypto at all

GATA Chairman Murphy interviewed by GoldSeek Radio

 

The Statistics:

As of close of business: 10/13/2017

Gold Warehouse Stocks:

8,511,650.656

-

Silver Warehouse Stocks:

219,445,859.601

-221,510.34

 

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

853.132

27,429,045

US$35,742m

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$5,789m

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$6,398m

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: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.318 tonnes.

 

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:

 

Randgold’s (GOLD) production target, Yamana’s (AUY) preliminary operational results, Gold Resource’s (GORO) preliminary production results, Avino’s (ASM) production results, Excellon’s (EXN.TO) production results, and Fortuna’s (FSM) production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +3.53% $15.27

2.  Nevsun

NSU +2.08% $2.45

3.  Buenaventura

BVN +1.93% $14.78

 

LOSERS

1.  Alexco

AXU -5.41% $1.40

2.  Gold Standard

GSV -5.26% $1.53

3.  Seabridge

SA -5.22% $12.70

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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