Gold Seeker Closing Report: Gold Erases Early Losses to End Unchanged
| Close | Gain/Loss |
Gold | $1227.80 | UNCH |
Silver | $15.55 | -$0.03 |
XAU | 80.17 | +0.17% |
HUI | 172.16 | -0.45% |
GDM | 607.93 | -0.04% |
JSE Gold | 1010.31 | -13.85 |
USD | 95.09 | +0.14 |
Euro | 116.49 | -0.16 |
Yen | 88.74 | -0.01 |
Oil | $68.76 | +$0.68 |
10-Year | 2.873% | +0.010 |
T-Bond | 144.8125 | -0.21875 |
Dow | 25199.29 | +0.32% |
Nasdaq | 7854.44 | -0.01% |
S&P | 2815.62 | +0.22% |
The Metals:
Gold fell $6.50 to $1221.30 in late Asian trade before it bounced back higher in London and New York, but it was unable to close with a gain. Silver slipped to as low as $15.394 and ended with a loss of 0.19%.
Euro gold climbed above EUR1054, platinum lost $1 to $815, and copper climbed a couple of cents to about $2.76.
Gold and silver equities fell nearly 1% in the first hour of trade before they rallied back to about unchanged by early afternoon, but they still ended mixed on the day.
Worker shortages, rising costs hemming in a U.S. economy bursting at the seams, Fed's Beige Book finds MarketWatch
Fed's Powell quizzed again on trade risks by U.S. House Reuters
U.S. housing starts hit nine-month low; permits drop Reuters
Wages aren't growing when adjusted for inflation, new data finds MarketWatch
Bernanke, Geithner, Paulson warn U.S. has weaker tools for dealing with crisis MarketWatch
Tomorrow brings Weekly jobless claims, the Philly Fed, and Leading economic indicators.
The Markets:
Oil gained 1% after the Energy Information Administration reported that crude inventories rose 5.8 million barrels, gasoline inventories fell 3.2 million barrels, and distillates fell 400,000 barrels.
The U.S. dollar index erased notable early gains but still managed to close higher on lingering Brexit concerns.
Treasuries traded mixed along with the Dow, Nasdaq, and S&P as weak housing data was offset by strong earnings reports.
Among the big names making news in the market today were Morgan Stanley, United, Amazon, Microsoft, Sinclair, Target, and Google.
GATA Posts:
Jim Rickards: How the U.S. controls the world financial system to coerce everyone
Palisade Research: Leveraged bullish gold share fund saw 14x spike in volume yesterday
Race for sunk Russian warship's '5,500 boxes of gold'
Russia again dumps U.S. Treasuries amid sanctions
The Statistics:
As of close of business: 7/17/2018
Gold Warehouse Stocks: | 8,658,102.481 | - |
Silver Warehouse Stocks: | 280,016,045.616 | -2,041.742 |
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 | 794.010 | 25,528,228 | US$31,253m |
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$5,445m |
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$6,017m |
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: 263.38: -0.96 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,164.59: -33.65 change from yesterday's data.
Gold Resource's (GORO) drill results and Avino's (ASM) second quarter production results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Eurasian | EMX +9.30% $1.12 |
2. McEwen | MUX +4.95% $2.33 |
3. Taseko | TGB +4.58% $1.01 |
LOSERS
1. Sibanye | SBGL -5.88% $2.24 |
2. Alamos Gold | AGI -3.02% $5.45 |
3. Paramount | PZG -2.14% $1.18 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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