• Gold: 1,291.66 -2.01
  • Silver: 17.19 -0.08
  • Euro: 1.173 -0.006
  • USDX: 93.985 0.323
  • Oil: 56.78 -0.03

October 17: Gold and Silver Fall Roughly 1% But Miners Barely Budge

Chris Mullen
|
Tuesday, October 17th

 

Close

Gain/Loss

Gold

$1285.60

-$8.90

Silver

$17.04

-$0.18

XAU

85.76

-0.44%

HUI

199.63

-0.04%

GDM

651.10

-0.06%

JSE Gold

1312.33

-23.85

USD

93.51

+0.21

Euro

117.68

-0.53

Yen

89.23

-0.16

Oil

$51.88

+$0.01

10-Year

2.304%

+0.029

T-Bond

154.03125

+0.3125

Dow

22997.44

+0.18%

Nasdaq

6623.66

-0.01%

S&P

2559.36

+0.07%

 
http://www.goldseek.com/news/2017/2017-10-17_14-02-05.jpg

 

The Metals:

 

Gold fell $12.70 to $1281.80 in late morning New York trade before it bounced back higher in the next few hours, but it still ended with a loss of 0.69%. Silver slipped to as low as $16.969 and ended with a loss of 1.05%.

 

Euro gold fell to about €1092, platinum gained $4.50 to $932.50, and copper fell 4 cents to about $3.18.

 

Gold and silver equities fell over 1% by midmorning, but they then rallied back higher into the close and ended only slightly lower on the day.

 

The Economy:

 

Homebuilder confidence jumps to 6-month high in October  CNBC

Powell likely next Fed chief, though Yellen best suited: economists  Reuters

U.S. Manufacturing Output Rises as Impact From Hurricanes Fades  Bloomberg

U.S. import prices surge 0.7% in September  MarketWatch

 

Tomorrow brings Housing Starts and the fed’s Beige Book.

 

The Markets:

 

Oil ended a penny higher in mixed trade on easing geopolitical tensions.

 

The U.S. dollar index rose on decent economic data and talk about possible changes in leadership at the fed.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P waffled near new highs on policy uncertainty.

 

Among the big names making news in the market today were Google, Airbus, Gorman, Harley, Netflix, Goldman Sachs, and Johnson & Johnson.

 

GATA Posts:

 

 

Leonid Bershidsky: Authoritarian cryptocurrencies are coming

Gold options trading begins in India

Time to sell? Goldman Sachs says gold is better than bitcoin as money

 

The Statistics:

As of close of business: 10/16/2017

Gold Warehouse Stocks:

8,510,364.656

-1,286.00

Silver Warehouse Stocks:

220,372,876.249

+927,016.648

 

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$35,233m

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$5,696m

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$6,306m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$462m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 228.87: +0.18 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,023.77: -108.67 change from yesterday’s data.

 

The Miners:

 

McEwen’s (MUX) updated Preliminary Economic Assessment, Turquoise Hill’s (TRQ) third quarter production, and First Majestic’s (AG) third quarter production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +3.60% $1.31

2.  Yamana

AUY +3.04% $2.71

3.  Seabridge

SA +2.36% $13.00

 

LOSERS

1.  IAMGOLD

IAG -5.51% $5.66

2.  Nevsun

NSU -3.67% $2.36

3.  Almaden

AAU -3.42% $1.13

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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