• Gold: 1,279.99 -0.17
  • Silver: 17.00 -0.04
  • Euro: 1.177 0.000
  • USDX: 93.701 0.191
  • Oil: 52 0.39

October 10: Gold and Silver Gain but Miners Fall

Chris Mullen
|
Tuesday, October 10th

 

Close

Gain/Loss

Gold

$1288.30

+$3.50

Silver

$17.11

+$0.15

XAU

86.74

-1.05%

HUI

202.04

-1.25%

GDM

655.92

-0.39%

JSE Gold

1353.17

-9.83

USD

93.23

-0.42

Euro

118.16

+0.68

Yen

88.97

+0.11

Oil

$50.92

+$1.34

10-Year

2.349%

-0.010

T-Bond

152.40625

+0.3125

Dow

22830.68

+0.31%

Nasdaq

6587.25

+0.11%

S&P

2550.64

+0.23%

 
http://www.goldseek.com/news/2017/2017-10-10_14-01-11.jpg

 

The Metals:

 

Gold gained $9.40 to $1294.20 in late morning New York trade before it fell back off into the close, but it still ended with a gain of 0.27%. Silver rose to as high as $17.245 and ended with a gain of 0.88%.

 

Euro gold fell to about €1090, platinum gained $15 to $930, and copper climbed 3 cents to about $3.05.

 

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

 

The Economy:

 

How Bonds Will Trade Trump's Fed Pick Based on Volcker, Bernanke  Bloomberg

IMF lifts global forecast but warns of risks  MarketWatch

Small-business sentiment sours as Washington dysfunction drags on  MarketWatch

 

Tomorrow brings FOMC Minutes.

 

The Markets:

 

Oil rose almost 3% after “Saudi Arabia said Monday that it would slash exports by 7% in November.”

 

The U.S. dollar index fell and treasuries climbed higher on geopolitical tensions over North Korea and Spain that held the Dow, Nasdaq, and S&P near unchanged.

 

Among the big names making news in the market today were Alibaba and Amazon, Procter & Gamble, Nvidia, Express Scripts, Tesla, Miramax, Equifax, and Yahoo.

 

GATA Posts:

 

 

Western Australia's Liberal Party to block gold royalty increase

Bloomberg columnist surprised to discover that gold is really a good hedge

 

The Statistics:

As of close of business: 10/9/2017

Gold Warehouse Stocks:

8,771,375.170

-

Silver Warehouse Stocks:

220,100,445.301

+538,334.84

 

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

858.450

27,600,037

US$35,639m

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$5,736m

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$6,341m

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: Change in Total Tonnes from yesterday’s data: SPDR added 4.432 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 228.69: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,167.69: +38.18 change from yesterday’s data.

 

The Miners:

 

McEwen’s (MUX) permitting process, Endeavour Silver’s (EXK) third quarter production, and Fortuna’s (FSM) CEO share purchases were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Tahoe Resources

TAHO +2.87% $5.37

2.  Taseko

TGB +2.86% $2.34

3.  Nevsun

NSU +1.73% $2.35

 

LOSERS

1.  Endeavour Silver

EXK -5.19% $2.56

2.  Coeur

CDE -5.14% $9.04

3.  Alio Gold

ALO -4.72% $4.34

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map