• Gold: 1,310.75 -0.39
  • Silver: 17.27 -0.03
  • Euro: 1.199 -0.001
  • USDX: 91.831 -0.216
  • Oil: 50.27 -0.03

September 13: Gold and Silver Fall Nearly 1%

Chris Mullen
|
Wednesday, September 13th

 

Close

Gain/Loss

Gold

$1321.60

-$9.90

Silver

$17.75

-$0.12

XAU

88.42

-1.98%

HUI

206.47

-1.47%

GDM

673.01

-1.73%

JSE Gold

1384.47

+4.39

USD

92.45

+0.53

Euro

118.85

-0.81

Yen

90.44

-0.33

Oil

$49.30

+$1.07

10-Year

2.195%

+0.024

T-Bond

156.09375

-0.4375

Dow

22158.18

+0.18%

Nasdaq

6460.19

+0.09%

S&P

2498.37

+0.08%

 

Join me in Aspen for the Nexus Conference September 21st-23rd!

 

http://www.goldseek.com/news/2017/2017-09-13_14-02-32.jpg

 

The Metals:

 

Gold edged up to $1334.60 in London, but it then fell to as low as $1320.90 in late morning New York trade and ended with a loss of 0.74%. Silver slipped to as low as $17.668 and ended with a loss of 0.67%.

 

Euro gold fell to about €1112, platinum lost $8 to $978, and copper fell 5 cents to about $2.98.

 

Gold and silver equities drifted lower for most of the day and ended with almost 2% losses.

 

The Economy:

 

Wholesale Prices in U.S. Increase on Jump in Energy Costs  Bloomberg

U.S. government posts $108 billion deficit in August  Reuters

 

Tomorrow brings CPI and Initial Jobless Claims.

 

The Markets:

 

Oil added onto early gains and ended over 2% higher after The Energy Information Administration reported that crude inventories rose 5.9 million barrels, gasoline inventories fell 8.4 million barrels, and distillates fell 3.2 million barrels.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P advanced to new highs on hopes for favorable tax and interest rate policy moves.

 

Among the big names making news in the market today were Amazon, Target, Pirelli, Airbus, and Bitcoin.

 

GATA Posts:

 

 

'No evidence' of gold market manipulation, CPM Group's Christian insists

Treasury secretary invites China to move from dollars to gold

JPMorgan CEO Jamie Dimon says bitcoin is a 'fraud' that will blow up

Hugo Salinas Price: A primer on the Mexican 'Libertad' silver ounce as a savings vehicle

 

The Statistics:

As of close of business: 9/12/2017

Gold Warehouse Stocks:

8,696,919.037

-

Silver Warehouse Stocks:

217,702,332.804

+68,985.666

 

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

838.640

26,963,102

US$35,790m

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$5,874m

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$6,490m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.956 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 220.33: +0.75 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,173.58: No change from yesterday’s data.

 

The Miners:

 

Eldorado Gold’s (EGO) update on Greece was the only big story in the gold and silver mining industry making headlines today.

WINNERS

1.  Eldorado Gold

EGO +16.24% $2.29

2.  Richmont

RIC +2.53% $10.15

3.  Alamos Gold

AGI +1.80% $7.36

 

LOSERS

1.  Taseko

TGB -5.88% $1.92

2.  Silvercorp

SVM -5.25% $3.07

3.  Tahoe Resources

TAHO -4.37% $5.91

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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