Gold Seeker Closing Report: Gold and Silver Erase Overnight Gains and End Roughly 1% Lower
| Close | Gain/Loss |
Gold | $1321.70 | -$14.60 |
Silver | $16.60 | -$0.10 |
XAU | 82.10 | -1.17% |
HUI | 181.87 | -2.12% |
GDM | 620.26 | -2.27% |
JSE Gold | 1193.12 | -7.05 |
USD | 89.71 | +0.11 |
Euro | 123.77 | -0.15 |
Yen | 91.34 | -0.03 |
Oil | $63.39 | -$0.76 |
10-Year | 2.802% | +0.071 |
T-Bond | 145.625 | -0.0625 |
Dow | 24912.77 | +2.33% |
Nasdaq | 7115.88 | +2.13% |
S&P | 2695.14 | +1.74% |
The Metals:
Gold gained $9.70 to $1346.00 in early Asian trade and held most of those gains into London, but it then fell back off for most of trade in New York and ended near its late session low of $1320.20 with a loss of 1.09%. Silver slipped to as low as $16.589 and ended with a loss of 0.6%.
Euro gold fell to about EUR1068, platinum lost $1 to $984.50, and copper dropped 2 cents to about $3.20.
Gold and silver equities fell roughly 2% by late morning and remained near that level for the rest of the day.
Job Openings in U.S. Declined to Seven-Month Low in December Bloomberg
Fed's Bullard says job market strength may not augur higher inflation Reuters
U.S. trade deficit in Trump's first year soars to 9-year high of $566 billion MarketWatch
U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008 Bloomberg
Tomorrow brings MBA Mortgage Applications and Consumer Credit.
The Markets:
Oil fell over 1% ahead of tomorrow's expected rise in U.S. crude supplies and production in the EIA's weekly inventory report.
The U.S. dollar index ended slightly higher in mixed trade and treasuries fell as the Dow, Nasdaq, and S&P roughly halved yesterday's historic losses by climbing back about 2%.
Among the big names making news in the market today were Bitcoin, Wells Fargo, GM, and Bristol-Myers.
GATA Posts:
U.S. regulators to back more oversight of virtual currencies
The Statistics:
As of close of business: 2/5/2018
Gold Warehouse Stocks: | 9,329,119.323 | -32,436.833 |
Silver Warehouse Stocks: | 248,788,088.670 | +736,304.80 |
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 | 841.353 | 27,050,351 | US$36,000m |
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$5,905m |
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$6,525m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$475m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.97: +0.72 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: +35.19 change from yesterday's data.
Randgold's (GOLD) comments on working together with countries in Africa, Coeur's (CDE) year-end 2017 contained reserves and resources, and Avino's (ASM) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Americas Silver | USAS +6.58% $3.89 |
2. Freeport | FCX +6.18% $18.74 |
3. Avino | ASM +2.34% $1.31 |
LOSERS
1. Seabridge | SA -5.70% $10.75 |
2. B2Gold | BTG -5.41% $2.80 |
3. Franco-Nevada | FNV -3.75% $71.41 |
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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