Gold Seeker Closing Report: Gold and Miners Gain While Stocks Plummet
| Close | Gain/Loss |
Gold | $1193.10 | +$3.00 |
Silver | $14.30 | -$0.10 |
XAU | 65.51 | +0.98% |
HUI | 143.57 | +1.57% |
GDM | 516.73 | +0.93% |
JSE Gold | 1048.55 | -17.34 |
USD | 95.54 | -0.12 |
Euro | 115.23 | +0.27 |
Yen | 88.94 | +0.38 |
Oil | $73.17 | -$1.79 |
10-Year | 3.194% | -0.009 |
T-Bond | 137.50 | -0.21875 |
Dow | 25598.74 | -3.15% |
Nasdaq | 7422.05 | -4.06% |
S&P | 2785.68 | -3.29% |
The Metals:
Gold dipped $4.60 to $1185.50 at about 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its last-minute high of $1193.60 with a gain of 0.25%. Silver dipped to $14.247 before it also bounced back into the close, but it still ended with a loss of 0.69%.
Euro gold climbed to EUR1036, platinum gained $1 to $822, and copper dropped 5 cents to about $2.75.
Gold and silver equities fell nearly 2% in the first 45 minutes of trade, but they then rose to see over 1% gains by midafternoon and remained near that level for the rest of the day.
U.S. producer prices rebound, wholesale inventories rise Reuters
Fed's Evans sees more rate hikes but said Trump's questioning of tightening is 'fair' MarketWatch
Tomorrow brings Weekly jobless claims, CPI, and the Federal budget.
The Markets:
Oil fell over 2% after it became clearer that Hurricane Michael will have little impact on energy infrastructure in the Gulf of Mexico.
The U.S. dollar index dropped as the euro and pound rose on renewed optimism about a Brexit deal.
Treasuries traded mixed while the Dow, Nasdaq, and S&P plunged roughly 4% on concerns that interest rates are rising too rapidly.
Among the big names making news in the market today were CVS, Aetna, Exxon, Sears, and Softbank.
GATA Posts:
Crypto theft hits nearly $1 billion in first nine months, report says
The Statistics:
As of close of business: 10/9/2018
Gold Warehouse Stocks: | 8,135,692.974 | -25,196.60 |
Silver Warehouse Stocks: | 287,921,855.186 | -1,049,728.678 |
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 | 730.165 | 23,475,549 | US$27,891m |
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$5,281m |
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$5,836m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$428m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 269.54: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday's data.
Newmont's (NEM) collaborative agreement and Coeur's (CDE) third quarter 2018 production and sales results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Pretivm | PVG +5.37% $7.65 |
2. Gold Fields | GFI +4.78% $2.63 |
3. AngloGold | AU +3.89% $8.82 |
LOSERS
1. DRDGOLD | DRD -6.30% $2.23 |
2. Silvercorp | SVM -3.48% $2.22 |
3. Freeport | FCX -3.11% $12.77 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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