Gold Seeker Closing Report: Gold and Silver Fall Roughly 2%
| Close | Gain/Loss |
Gold | $1193.40 | -$18.00 |
Silver | $14.99 | -$0.33 |
XAU | 25187.70 | -0.50% |
HUI | 7819.71 | -0.25% |
GDM | 2821.93 | -0.40% |
JSE Gold | 1098.98 | -2.12 |
USD | 96.36 | +0.01 |
Euro | 114.00 | -0.13 |
Yen | 90.24 | +0.01 |
Oil | $67.20 | -$0.43 |
10-Year | 2.874% | +0.003 |
T-Bond | 144.28125 | -0.375 |
Dow | 71.62 | -3.05% |
Nasdaq | 154.52 | -3.38% |
S&P | 558.03 | -2.73% |
The Metals:
Gold dropped $16.10 to $1195.30 in London before it bounced back above $1200 in early New York trade, but it then fell back off into the close and ended near its early afternoon low of $1191.80 with a loss of 1.49%. Silver slipped to as low as $14.974 and ended with a loss of 2.15%.
Euro gold fell to about EUR1047, platinum lost $28 to $799, and copper dropped a penny to about $2.73.
Gold and silver equities fell about 3% by early afternoon and remained near that level for the rest of the day.
Goldman Sachs warns about US companies' emerging market exposure CNBC
Rumors of the death of the housing market may be exaggerated MarketWatch
Treasury yields trade near 3-week lows as Turkish currency woes linger MarketWatch
Tomorrow brings Import prices and Household debt.
The Markets:
Oil pared early losses but still ended nearly 1% lower on continued concerns about Turkey's currency crisis that held the U.S. dollar index steady and left treasuries with most of last week's notable gains.
The Dow, Nasdaq, and S&P turned lower in late morning trade and ended with modest losses on uncertainty about what markets could be impacted next.
Among the big names making news in the market today were Foxconn, Netflix, Tesla, and Bayer.
GATA Posts:
Mystery safe discovered by construction workers in Dawson City
Russia says it will ditch U.S. securities amid sanctions
China pledges not to do what it's doing in FX market
The Statistics:
As of close of business: 8/10/2018
Gold Warehouse Stocks: | 8,577,117.507 | -64,302.00 |
Silver Warehouse Stocks: | 286,033,492.746 | -1,158,381.128 |
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 | 786.076 | 25,273,124 | US$30,332m |
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$5,424m |
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$6,007m |
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: 261.70: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,177.78: -38.03 change from yesterday's data.
McEwen's (MUX) dividend and closed loan facility and First Majestic's (AG) second quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Seabridge | SA +4.92% $12.80 |
2. DRDGOLD | DRD +3.80% $2.46 |
3. Silvercorp | SVM +0.74% $2.74 |
LOSERS
1. First Majestic | AG -15.28% $5.49 |
2. Endeavour Silver | EXK -8.33% $2.31 |
3. Alexco | AXU -6.84% $1.09 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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