Gold Seeker Closing Report: Gold Gains While Stocks Fall Markedly
| Close | Gain/Loss |
Gold | $1225.10 | +$1.30 |
Silver | $14.57 | -$0.06 |
XAU | 70.05 | +0.28% |
HUI | 155.48 | +0.16% |
GDM | 556.39 | +0.27% |
JSE Gold | 1198.81 | +8.42 |
USD | 95.97 | +0.39 |
Euro | 114.59 | -0.46 |
Yen | 89.37 | +0.02 |
Oil | $68.65 | -$1.10 |
10-Year | 3.182% | -0.009 |
T-Bond | 138.00 | +0.09375 |
Dow | 25379.45 | -1.27% |
Nasdaq | 7485.14 | -2.06% |
S&P | 2768.78 | -1.44% |
The Metals:
Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and ended not far from its early afternoon high of $1230.10 with a gain of 0.11%. Silver slipped to $14.455 before it climbed to as high as $14.651 by late morning in New York, but it then drifted back lower in afternoon trade and ended with a loss of 0.41%.
Euro gold rose above EUR1069, platinum lost $15 to $821, and copper fell 5 cents to about $2.73.
Gold and silver equities traded mostly higher and ended with modest gains.
U.S. economy still on a strong growth path, leading indicator find, though dangers lurk MarketWatch
Philly Fed manufacturing index signals steady growth in October MarketWatch
Fed's monetary policy 'about right,' no more hikes needed: Bullard Reuters
Jobless claims drop 5,000 to 210,000 in mid-October, stick near 50-year low MarketWatch
Tomorrow brings Existing home sales.
The Markets:
Oil fell nearly 2% more in continued reaction to yesterday's crude inventory build.
The U.S. dollar index rose as the euro fell after "the European Commission said Italy's spending plans are excessive and asked for an explanation, the first step in what threatens to become a full-blown standoff between Brussels and Rome."
Treasuries rose as the Dow, Nasdaq, and S&P dropped roughly 2% on "worries about the U.S.-China trade war, rising interest rates and lingering worries about possible overvalued U.S. tech stocks."
Among the big names making news in the market today were Blackstone, Amgen, Campbell Soup, and Takeda.
GATA Posts:
Zero Hedge: Yuan's correlation with gold price suddenly snaps
Gold price steadies and rises as BIS intervention diminishes
Ex-Deutsche Bank traders guilty in U.S. Libor-rigging trial
The Statistics:
As of close of business: 10/17/2018
Gold Warehouse Stocks: | 8,101,421.184 | - |
Silver Warehouse Stocks: | 287,839,833.780 | -694,741.007 |
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$29,436m |
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$5,460m |
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$6,029m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$440m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.19: +1.55 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday's data.
Alio Gold's (ALO) updated Mineral Resource Estimate, Golden Star's (GSS) 5:1 consolidation of common shares, and IAMGOLD's (IAG) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG +4.35% $1.20 |
2. Harmony | HMY +3.94% $2.11 |
3. Barrick | ABX +3.46% $13.16 |
LOSERS
1. Americas Silver | USAS -6.20% $2.27 |
2. Alamos | AGI -6.17% $4.56 |
3. Hecla | HL -4.93% $2.89 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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