• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.933 0.444
  • Oil: 57.26 0.11

October 2: Gold and Silver Fall But Miners Gain

Chris Mullen
|
Monday, October 2nd

 

Close

Gain/Loss

Gold

$1271.40

-$8.60

Silver

$16.59

-$0.06

XAU

85.03

+0.44%

HUI

196.83

+0.17%

GDM

639.51

+0.21%

JSE Gold

1311.78

-12.86

USD

93.62

+0.56

Euro

117.37

-0.83

Yen

88.79

-0.18

Oil

$50.58

-$1.09

10-Year

2.341%

+0.009

T-Bond

152.50

-0.3125

Dow

22557.60

+0.68%

Nasdaq

6516.72

+0.32%

S&P

2529.12

+0.39%

 
http://www.goldseek.com/news/2017/2017-10-02_14-03-04.jpg

 

The Metals:

 

Gold dipped $8.80 to $1271.20 in Asia before it bounced back to $1277.10 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.67%. Silver slipped to as low as $16.549 and ended with a loss of 0.36%.

 

Euro gold remained at about €1083, platinum gained $3.50 to $911, and copper stayed at $2.95.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

The Economy:

 

Fed's rate hikes causing low inflation, Kashkari says  Reuters

US construction spending rebounded 0.5 percent in August  ABC News

Manufacturing in U.S. Expands at Fastest Pace in 13 Years  Bloomberg

US manufacturing activity picks up in September - IHS Markit  London South East

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Oil dropped over 2% as the U.S. dollar index rose and treasuries edged lower on strong manufacturing data that sent the Dow, Nasdaq, and S&P higher on the first day of the fourth quarter.

 

Among the big names making news in the market today were Equifax, Roku, Goldman Sachs, Macy's, J.C. Penney, and Nordstrom.

 

GATA Posts:

 

 

China says its in-ground gold reserves stand at 12,100 tonnes

Incredible images from 1890s capture life for prospectors chasing Yukon gold

Ted Butler: Why won't anyone dispute silver market manipulation?

Russia's rush for gold sees record reserves for Putin era

Cryptocurrency flash crash draws scrutiny from watchdog

Great speakers join GATA at New Orleans conference Oct. 25-28

 

The Statistics:

As of close of business: 9/29/2017

Gold Warehouse Stocks:

8,761,405.917

+23,630.25

Silver Warehouse Stocks:

218,121,336.056

-1,674,579.86

 

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

864.647

27,799,256

US$35,395m

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$5,659m

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$6,254m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$457m

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: 228.56: +1.19 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,163.29: No change from yesterday’s data.

 

The Miners:

 

Richmont’s (RIC) assets sale and acquisition of shares in Monarques, Imperial’s (III.TO) financing plan, and Silvercorp’s (SVM) AGM results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +3.24% $1.91

2.  Turquoise

TRQ +3.23% $3.20

3.  McEwen

MUX -3.08% $2.01

 

LOSERS

1.  Northern Dynasty

NAK -3.33% $1.74

2.  Avino

ASM -3.23% $1.50

3.  Tahoe Resources

TAHO -2.47% $5.14

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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