Gold Seeker Closing Report: Gold and Silver End Slightly Lower
| Close | Gain/Loss |
Gold | $1314.90 | -$3.30 |
Silver | $17.14 | -$0.03 |
XAU | 87.08 | -1.19% |
HUI | 197.35 | -0.63% |
GDM | 660.98 | -0.75% |
JSE Gold | 1338.73 | +21.37 |
USD | 92.18 | +0.32 |
Euro | 120.12 | -0.53 |
Yen | 88.97 | -0.15 |
Oil | $61.63 | +$1.26 |
10-Year | 2.440% | -0.018 |
T-Bond | 152.28125 | +0.53125 |
Dow | 24922.68 | +0.40% |
Nasdaq | 7065.53 | +0.84% |
S&P | 2713.06 | +0.64% |
The Metals:
Gold dropped $6.40 to $1311.80 in Asia before it rallied to $1317.80 in London and then fell back to a new session low of $1307.50 after the release of fed minutes in New York, but it then jumped back higher in late trade and ended with a loss of just 0.25%. Silver slipped to as low as $17.032 and ended with a loss of 0.17%.
Euro gold rose to about EUR1095, platinum gained $9.50 to $952.50, and copper fell a couple of cents to about $3.24.
Gold and silver equities fell roughly 1% at the open and saw about 2% losses in midafternoon trade, but they then bounced back higher into the close and ended only modestly lower on the day.
Fed policymakers see future rate rises guided by inflation, fiscal stimulus Reuters
Most Fed Officials Backed Continued Gradual Rate Increases Bloomberg
Fed minutes show divide over its own forecast of three rate hikes this year MarketWatch
Manufacturing in the U.S. Just Accelerated to Its Best Year Since 2004 Bloomberg
U.S. construction spending rises to record high in November Reuters
Tomorrow brings ADP Employment, Initial Jobless Claims, and PMI Services.
The Markets:
Oil rose over 2% on concerns about rising tensions Iran.
The U.S. dollar index rebounded from notable recent losses on decent economic data.
Treasuries rose after the fed's minutes showed altering opinions about the appropriate number of rate hikes this year.
The Dow, Nasdaq, and S&P climbed to new highs on the overall outlook for the continuation of gradual interest rate increases from the fed.
Among the big names making news in the market today were BlackBerry, Baidu, Ford, GM, Petrobras, Spotify, and Scana.
GATA Posts:
Who the hell does the grand mufti think he is -- a central banker?
China said to be preparing to limit bitcoin mining
The Statistics:
As of close of business: 1/2/2018
Gold Warehouse Stocks: | 9,190,925.256 | +48,226.50 |
Silver Warehouse Stocks: | 245,303,791.557 | +579,307.28 |
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 | 836.315 | 26,888,376 | US$35,343m |
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$5,848m |
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$6,463m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$472m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 1.181 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 243.49: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,972.70: No change from yesterday's data.
Banro's (BAA) mine update and SilverCrest's (SIL.V) President appointment and private placement/granted options were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Avino | ASM +2.97% $1.49 |
2. DRDGOLD | DRD +1.53% $3.32 |
3. New Gold | NGD +1.17% $3.45 |
LOSERS
1. Taseko | TGB -9.81% $1.93 |
2. Coeur | CDE -5.77% $7.51 |
3. McEwen | MUX -5.28% $2.33 |
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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