Gold Seeker Closing Report: Gold and Silver Fall Roughly 1%
| Close | Gain/Loss |
Gold | $1348.00 | -$9.70 |
Silver | $17.30 | -$0.26 |
XAU | 89.91 | -2.36% |
HUI | 202.24 | -2.38% |
GDM | 678.63 | -1.46% |
JSE Gold | 1327.01 | +13.06 |
USD | 89.28 | +0.03 |
Euro | 124.17 | +0.15 |
Yen | 91.65 | -0.11 |
Oil | $65.51 | -$0.10 |
10-Year | 2.618% | -0.034 |
T-Bond | 149.40625 | +0.9375 |
Dow | 26392.79 | +0.54% |
Nasdaq | 7411.16 | -0.05% |
S&P | 2839.25 | +0.06% |
The Metals:
Gold gained $8.30 to $1366.00 in Asia before it dipped back under unchanged in London and then climbed back towards its earlier high by about 1:30PM EST, but it then dove back lower into the close and ended near its late session low of $134290 with a loss of 0.71%. Silver slipped to as low as $17.148 and ended with a loss of 1.48%.
Euro gold fell to about EUR1087, platinum lost $1 to $1013, and copper dropped 2 cents to about $3.22.
Gold and silver equities fell roughly 2% by midafternoon and remained near that level for the rest of the day.
U.S. new home sales post largest drop in 16 months; jobless claims up Reuters
U.S. economy primed for fast start to 2018, leading indicators show MarketWatch
Tomorrow brings International Trade in Goods, GDP, and Durable Goods Orders.
The Markets:
Oil erased early gains and edged lower by the close as the U.S. dollar index jumped back higher in late trade after "President Donald Trump told CNBC on Thursday the dollar will strengthen over time under his leadership and that recent remarks made by Treasury Secretary Steven Mnuchin about the greenback were misinterpreted."
Treasuries rose after Trump's comments raised further questions and uncertainty about what policies his administration will actually be pursuing.
The Dow, Nasdaq, and S&P waffled near unchanged on mixed earnings reports.
Among the big names making news in the market today were GE, Home Depot, Microsoft, and Ford.
GATA Posts:
Alex Pollock: Confiscation of gold by the federal government -- a lesson
Mnuchin comment surprises markets, turns dollar decline into 'one-way bet'
Myanmar legalizes gold imports and exports
Commerce secretary says U.S. isn't abandoning 'strong dollar' policy
The Statistics:
As of close of business: 1/24/2018
Gold Warehouse Stocks: | 9,313,221.043 | -321.50 |
Silver Warehouse Stocks: | 247,148,650.168 | +1,199,756.01 |
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 | 849.321 | 27,306,535 | US$36,989m |
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$6,043m |
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$6,679m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$484m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 254.94: +0.50 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,736.88: No change from yesterday's data.
Freeport's (FCX) fourth-quarter and year-end results, NOVAGOLD's (NG) fourth-quarter and year-end financial results, IAMGOLD's (IAG) exploration rights, Great Panther's (GPL) updated Mineral Resource Estimate, First Majestic's (AG) priced offering, and Endeavour Silver's (EXK) 2018 production and cost guidance were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Avino | ASM +1.95% $1.57 |
2. Freeport | FCX +1.12% $19.82 |
3. Paramount | PZG +0.74% $1.36 |
LOSERS
1. NOVAGOLD | NG -11.56% $3.90 |
2. Pretivm | PVG-10.56% $7.45 |
3. First Majestic | AG -8.31% $6.51 |
Winners & Losers tracks NYSE 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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