Gold Seeker Closing Report: Gold and Silver Edge Lower Again
| Close | Gain/Loss |
Gold | $1223.80 | -$1.10 |
Silver | $14.63 | -$0.03 |
XAU | 69.86 | -0.35% |
HUI | 155.23 | -0.06% |
GDM | 554.76 | -0.52% |
JSE Gold | 1190.39 | -23.73 |
USD | 95.58 | +0.52 |
Euro | 115.05 | -0.76 |
Yen | 89.35 | -0.03 |
Oil | $69.75 | -$2.17 |
10-Year | 3.191% | +0.034 |
T-Bond | 137.90625 | -0.59375 |
Dow | 25706.68 | -0.36% |
Nasdaq | 7642.70 | -0.04% |
S&P | 2809.21 | -0.03% |
The Metals:
Gold dipped $4.20 to $1220.70 in Asia before it climbed up to $1229.50 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.09%. Silver slipped to as low as $14.597 and ended with a loss of 0.2%.
Euro gold rose above EUR1063, platinum lost $7 to $836, and copper remained at $2.78.
Gold and silver equities waffled near unchanged and ended slightly lower.
Every Fed policymaker was on board for September rate hike: minutes Reuters
Federal Reserve minutes indicate interest rates will have to rise high enough to slow down the economy MarketWatch
Federal Reserve points to more rate hikes in meeting notes amid criticism from Trump CNBC
U.S. housing starts, building permits fall in September Reuters
The Midwest economy is about to get pummeled again MarketWatch
Tomorrow brings Weekly jobless claims, Philly Fed manufacturing, and Leading economic indicators.
The Markets:
Oil fell 3% after the Energy Information Administration reported that crude inventories rose 6.5 million barrels, gasoline inventories fell 2.0 million barrels, and distillates fell 800,000 barrels.
The U.S. dollar index added onto early gains and treasuries fell after the fed's minutes indicated more rate hikes until economic conditions change.
The Dow, Nasdaq, and S&P traded mostly lower on wariness over the fed's restrictive stance.
Among the big names making news in the market today were Danske Bank, Pfizer, Tesla, and Netflix.
GATA Posts:
Hungary boosts gold reserves 10-fold, citing safety concerns
The Statistics:
As of close of business: 10/16/2018
Gold Warehouse Stocks: | 8,101,421.184 | - |
Silver Warehouse Stocks: | 288,534,574.787 | -779,409.508 |
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(R) Gold Shares | 748.759 | 24,073,355 | US$29,582m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,449m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,023m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$439m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.64: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday's data.
Excellon's (EXN.TO) optioned project and Golden Minerals' (AUMN) PEA filing were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Silvercorp | SVM +2.17% $2.35 |
2. IAMGOLD | IAG +2.06% $3.97 |
3. NovaGold | NG +1.92% $4.25 |
LOSERS
1. Gold Standard | GSV -3.43% $1.69 |
2. DRDGOLD | DRD -3.41% $2.55 |
3. Gold Resource | GORO-3.08% $5.98 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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