Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop Roughly 4%
| Close | Gain/Loss |
Gold | $1317.20 | +$1.90 |
Silver | $16.38 | +$0.05 |
XAU | 79.86 | -0.85% |
HUI | 178.39 | -0.81% |
GDM | 606.47 | -0.63% |
JSE Gold | 1142.47 | -32.32 |
USD | 90.33 | -0.02 |
Euro | 122.47 | -0.24 |
Yen | 91.95 | +0.57 |
Oil | $61.15 | -$0.64 |
10-Year | 2.829% | -0.012 |
T-Bond | 144.25 | -0.375 |
Dow | 23860.46 | -4.15% |
Nasdaq | 6777.16 | -3.90% |
S&P | 2581.00 | -3.75% |
The Metals:
Gold dropped $8 to $1307.30 in London before it bounced back to $1316.90 at about 9:30AM EST and then fell back to $1312.70 in the next hour of trade, but it then climbed to a new session high of $1321.90 by early afternoon and ended with a gain of 0.14%. Silver rose to as high as $16.467 and ended with a gain of 0.31%.
Euro gold rose to about EUR1076, platinum lost $9 to $969, and copper fell 2 cents to about $3.08.
Gold and silver equities fell almost 1% in the first hour of trade before they chopped back higher at times, but they then edged back lower into the close and ended near their lows of the day.
U.S. Jobless Claims Decline, Approach an Almost 45-Year Low Bloomberg
Fed is 'a long way away' from having to raise interest rates due to wage pressure: Kashkari MarketWatch
Congress expected to vote on budget to avert government shutdown Reuters
Tomorrow brings Wholesale Trade Inventories.
The Markets:
Oil fell another 1% on news of record high US crude output and the reopening of the North Sea's largest crude pipeline.
The U.S. dollar index ended slightly lower in mixed trade as the yen rose on safe haven buying.
Treasuries turned down after a disappointing 30-year note auction.
The Dow, Nasdaq, and S&P dropped about 4% on renewed concerns about rising interest rates.
Among the big names making news in the market today were Total, Alibaba, Tesla, Twitter, Teva, New York Times, and GrubHub.
GATA Posts:
Dollar will stay weak if China has its way, Morgan Stanley says
U.S. deliberately keeping dollar low, ECB's Nowotny tells newspaper
The Statistics:
As of close of business: 2/7/2018
Gold Warehouse Stocks: | 9,292,170.786 | -2,489.622 |
Silver Warehouse Stocks: | 250,114,195.482 | +599,197.50 |
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 | 826.904 | 26,585,797 | US$34,969m |
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$5,849m |
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$6,453m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$473m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 2.361 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday's data.
WINNERS
1. B2Gold | BTG +2.89% $2.85 |
2. Pretivm | PVG +2.68% $6.89 |
3. Great Panther | GPL +2.52% $1.22 |
LOSERS
1. Northern Dynasty | NAK -5.93% $1.11 |
2. Freeport | FCX -3.92% $17.16 |
3. Sibanye-Stillwater | SBGL -3.76% $4.09 |
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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