• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.932 0.443
  • Oil: 57.26 0.11

October 6: Gold and Silver End Mixed on the Week

Chris Mullen
|
Friday, October 6th

Please Note: Canada is closed on Monday for their Thanksgiving Day. Columbus Day is also observed in the U.S. and banks are closed as well as the bond market, but the stock market will trade as normal.

 

 

Close

Gain/Loss

On Week

Gold

$1274.90

+$6.20

-0.40%

Silver

$16.78

+$0.17

+0.78%

XAU

86.90

+0.98%

+2.66%

HUI

202.10

+1.35%

+2.85%

GDM

653.10

+1.04%

+2.33%

JSE Gold

1346.46

+0.91

+1.65%

USD

93.81

-0.14

+0.81%

Euro

117.33

+0.26

-0.74%

Yen

88.78

+0.13

-0.21%

Oil

$49.29

-$1.50

-4.61%

10-Year

2.368%

+0.021

+1.54%

Bond

151.90625

-0.34375

-0.49%

Dow

22773.67

-0.01%

+1.65%

Nasdaq

6590.18

+0.07%

+1.45%

S&P

2549.33

-0.11%

+1.19%

 
http://www.goldseek.com/news/2017/2017-10-06_14-03-48.jpg

 

The Metals:

 

Gold edged up to $1270.20 in London before it fell back to $1260.80 in midmorning New York trade, but it then climbed to as high as $1275.30 by midday and ended with a gain of 0.49%. Silver rose to as high as $16.841 and ended with a gain of 1.02%.

 

Euro gold rose to about €1087, platinum remained at $911, and copper fell 2 cents to about $3.02.

 

Gold and silver equities gained roughly 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

U.S. Treasury outlines sweeping blueprint for reforming capital markets  Reuters

U.S. wholesale inventories post biggest gain in nine months  Reuters

US lost 33,000 jobs in Sept, vs 90,000 jobs increase expected  CNBC

U.S. Payrolls Fall 33,000 on Storms; Jobless Rate Drops to 4.2%  Bloomberg

 

Next week’s economic highlights include FOMC Minutes on Wednesday, PPI, Initial Jobless Claims, and the Treasury Budget on Thursday, and Business Inventories and Consumer Sentiment on Friday.

 

The Markets:

 

Oil dropped almost 3% after Tropical Storm Nate prompted evacuations of offshore oil and gas platforms and pointed to slowing production.

 

The U.S. dollar index ultimately fell along with treasuries and the Dow and S&P as traders weighed this morning’s mixed jobs report against renewed tensions on the Korean peninsula.

 

Among the big names making news in the market Friday were New York Times, Bombardier, Netflix, Apple, Costco, and Switch.

 

GATA Posts:

 

 

Hugo Salinas Price: The gold worm on the yuan hook

HSBC traders used code word to trigger front-running, prosecutor says

Saudi Arabia will start buying military equipment from Russia

 

The Statistics:

Activity from: 10/5/2017

Gold Warehouse Stocks:

8,771,375.170

+3,761.55

Silver Warehouse Stocks:

218,993,860.484

+494,418.82

 

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

851.063

27,362,535

US$34,524m

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$5,664m

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$6,256m

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: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.241 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 229.59: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,129.51: -29.37 change from yesterday’s data.

 

The Miners:

 

Primero’s (PPP) closed sale of the Black Fox mine to McEwen Mining (MUX), New Gold’s (NGD) first gold pour at the Rainy River mine, Royal Gold’s (RGLD) fiscal update, Northern Dynasty’s (NAK) presentation, and Coeur’s (CDE) third quarter production and sales results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Endeavour Silver

EXK +4.02% $2.59

2.  McEwen

MUX +3.96% $2.10

3.  New Gold

NGD +3.41% $3.94

 

LOSERS

1.  Gold Standard

GSV -1.20% $1.64

2.  B2Gold

BTG -0.70% $2.83

3.  Gold Fields

GFI -0.47% $4.23

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2017

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