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February 17: Gold and Silver Gain With Stocks and Oil








Chris Mullen | Wednesday, February 17th
 

Close

Gain/Loss

Gold

$1208.20

+$8.60

Silver

$15.27

+$0.05

XAU

58.44

+2.11%

HUI

152.89

+1.14%

GDM

492.16

+0.28%

JSE Gold

1796.63

-50.07

USD

96.84

-0.04

Euro

111.31

-0.12

Yen

87.81

+0.14

Oil

$30.66

+$1.62

10-Year

1.819%

+0.041

T-Bond

164.59375

-1.125

Dow

16453.83

+1.59%

Nasdaq

4534.06

+2.21%

S&P

1926.82

+1.65%

 
 
 
Silver, Gold, US Dollar,Platinum Intraday Chart

The Metals:

 

Gold erased early Asian gains in London before it rallied to a new session high of $1213.40 by midday in New York and then chopped back lower into the close, but it still ended with a gain of 0.72%. Silver climbed to as high as $15.374 and ended with a gain of 0.33%.

 

Euro gold rose above €1085, platinum gained $15 to $941, and copper climbed a couple of cents to about $2.08.

 

Gold and silver equities traded mostly slightly higher and ended with roughly 1% gains.





The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Jan

0.1%

-0.2%

-0.2%

Core PPI

Jan

0.4%

0.0%

0.2%

Building Permits

Jan

1202K

1200K

1204K

Housing Starts

Jan

1099K

1171K

1143K

Industrial Production

Jan

0.9%

0.3%

-0.7%

Capacity Utilization

Jan

77.1%

76.6%

76.4%

 

Fed policymakers discussed changing interest rate path: minutes Reuters

 

Tomorrow brings Initial Jobless Claims and the Philadelphia Fed.

 

The Markets:

 

DJIA, Nasdaq, 10-Year US Bond, USD = 1 Euro, Yen = 1 USD, HUI, XAU, GDM, Gold ETF, Silver ETF, GDX ETF Chart


Charts Courtesy of http://finance.yahoo.com/

 

Oil

Oil gained almost 6% after Iran's oil minister said he supported efforts to calm oil markets.

The U.S. dollar index edged lower in late trade on dovish fed minutes.

Treasuries fell as the Dow, Nasdaq, and S&P rose roughly 2% on relief over oil’s recovery.

Among the big names making news in the market today were Nike, Amex, and Wal-Mart.





GATA Posts:

 

GATA

 

China is likely capping Comex gold to facilitate metal's eastward flow

 

The Statistics:

As of close of business: 2/16/2016

Gold Warehouse Stocks:

6,667,087.022

+100,450.00

Silver Warehouse Stocks:

157,109,214.442

-256,301.421

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

ExchancheTradedGold.com

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

710.954

22,857,891

US$27,653m

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$5,381m

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$5,949m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.16

937,355

US$1,136m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 179.19: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,710.19: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) updated cost estimate and project update, Newmont’s (NEM) 2015 operating and financial results and new COO, Barrick’s (ABX) board appointment and dividend, Sandstorm’s (SAND) asset updates, Nevsun’s (NSU) updated mineral resource estimate, and Great Panther’s (GPL) option payment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Freeport

FCX +12.4% $7.16

2. DRDGOLD

DRD +7.91% $3.41

3. Turquoise

TRQ +7.54% $2.14

LOSERS

1. Paramount

PZG -4.31% $1.06

2. Avino

ASM -1.48% $1.00

3. Eldorado

EGO -1.41% $2.79

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

© Gold Seeker 2016

Published:February 17th, 2016
Source: Gold-Seeker.com







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