Gold Seeker Closing Report: Gold and Silver Fall with Stocks, Bonds, and Oil
| Close | Gain/Loss |
Gold | $1315.30 | -$6.40 |
Silver | $16.33 | -$0.27 |
XAU | 80.54 | -1.90% |
HUI | 179.84 | -1.11% |
GDM | 609.88 | -1.60% |
JSE Gold | 1174.79 | -18.33 |
USD | 90.35 | +0.64 |
Euro | 122.71 | -1.06 |
Yen | 91.38 | +0.04 |
Oil | $61.79 | -$1.60 |
10-Year | 2.841% | +0.039 |
T-Bond | 144.59375 | -1.4375 |
Dow | 24893.35 | -0.08% |
Nasdaq | 7051.98 | -0.90% |
S&P | 2681.66 | -0.50% |
The Metals:
Gold gained $10.60 to $1332.30 in Asia, but it then fell back off in London and New York and ended near its midafternoon low of $1311.90 with a loss of 0.48%. Silver climbed up to $16.775 before it dropped back to $16.297 and then bounced back higher in late trade, but it still ended with a loss of 1.63%.
Euro gold rose to about EUR1073, platinum lost $6.50 to $978, and copper fell 10 cents to about $3.10.
Gold and silver equities lost roughly 1% by midday and remained near that level into the close.
U.S. Consumer Credit Outstanding Cools After November Surge Bloomberg
Fed's Evans says no rate hikes needed before mid-2018 Reuters
Fed's Kaplan says market correction healthy, sees no economic impact Reuters
Fed's Dudley Says Equity Rout Hasn't Yet Changed His Outlook Bloomberg
Mortgage volume stalls as rates rise to the highest level in four years CNBC
Senate leaders reach $300 billion federal spending deal Reuters
Tomorrow brings Initial Jobless Claims.
The Markets:
Oil dropped 2.5% after the Energy Information Administration reported that crude inventories rose 1.9 million barrels, gasoline inventories rose 3.4 million barrels, and distillates rose 3.9 million barrels.
The U.S. dollar index saw notable gains and treasuries fell "as lawmakers in Washington agreed to a two-year budget deal that will avoid a government shutdown this week."
The Dow, Nasdaq, and S&P attempted to stabilize on lingering worries about the outlook for tighter monetary policy heading forward.
Among the big names making news in the market today were Riot Blockchain, Snap, Wynn Resorts, and Tronc.
GATA Posts:
Bears Ears is open for mining but no one bothered to show up
John Crudele: Washington's 'plunge' team may have halted Dow spiral
Miner Barrick to take $429 million charge at stalled Chilean gold project
China's love affair with gold heats up on property boom riches
The Statistics:
As of close of business: 2/6/2018
Gold Warehouse Stocks: | 9,294,660.408 | -34,458.915 |
Silver Warehouse Stocks: | 249,515,019.982 | +726,931.07 |
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 | 829.265 | 26,661,696 | US$35,315m |
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$5,854m |
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$6,470m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$472m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 12.088 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: +0.93 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday's data.
Sibanye-Stillwater's (SBGL) mine collapse and fatal injuries, Endeavour Silver's (EXK) updated Mineral Reserve and Resource Estimates, and Hecla's (HL) record reserves were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Northern Dynasty | NAK +13.46% $1.18 |
2. Gold Standard | GSV +2.98% $1.73 |
3. Eldorado | EGO +1.68% $1.21 |
LOSERS
1. Americas Silver | USAS -5.91% $3.66 |
2. McEwen | MUX -5.12% $2.04 |
3. Freeport | FCX -4.70% $17.86 |
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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