Gold Seeker Closing Report: Gold Ends Lower While Silver Edges Up
| Close | Gain/Loss |
Gold | $1324.50 | -$6.20 |
Silver | $16.48 | +$0.01 |
XAU | 80.51 | -0.39% |
HUI | 178.65 | -0.19% |
GDM | 611.03 | -0.78% |
JSE Gold | 1147.05 | -5.55 |
USD | 90.05 | +0.34 |
Euro | 122.92 | -0.45 |
Yen | 93.03 | -0.34 |
Oil | $61.68 | -$0.11 |
10-Year | 2.936% | +0.055 |
T-Bond | 142.6875 | -1.1875 |
Dow | 24797.78 | -0.67% |
Nasdaq | 7218.23 | -0.22% |
S&P | 2701.33 | -0.55% |
The Metals:
Gold dropped $5.20 to $1325.50 in late Asian trade before it rallied up to $1332.90 in midmorning New York trade and jumped up to a new session high of $1336.10 following the release of today's fed minutes, but it then fell back off into the close and ended near its late low of $1322.60 with a loss of 0.47%. Silver climbed up to $16.764 before it also fell back off, but it still ended with a gain of 0.06%.
Euro gold fell to about EUR1078, platinum lost $11 to $987, and copper remained at about $3.20.
Gold and silver equities rose over 2% by a little after 2PM EST, but they then fell back off into the close and ended slightly lower on the day.
Fed policymakers show rising confidence on inflation, economic outlook: minutes Reuters
Fed Minutes Show Confidence Improving on Growth, Price Outlook Bloomberg
U.S. existing home sales fall for second straight month Reuters
Markit manufacturing PMI for Feb (Prelim) 55.9 vs. 55.5 expected forexlive
Mortgage applications tank, as rising rates make homes less affordable CNBC
Tomorrow brings Initial Jobless Claims and Leading Indicators.
The Markets:
Oil closed slightly lower ahead of tomorrow's holiday delayed inventory report.
The U.S. dollar index rose and treasuries fell after traders seemed to realize that today's somewhat dovish fed minutes did not take into account the more hawkish economic data that was released after the conclusion of January's meeting.
The Dow, Nasdaq, and S&P erased sizeable midday gains and closed notably lower on concerns about rising interest rates.
Among the big names making news in the market today were Apple, Intel, Broadcom, GM, Tesla, and Walmart.
GATA Posts:
FDIC sues 16 banks alleging LIBOR manipulation in Doral Bank collapse
No wonder gold had to be smashed today
The Statistics:
As of close of business: 2/20/2018
Gold Warehouse Stocks: | 9,133,839.223 | +31,828.50 |
Silver Warehouse Stocks: | 246,872,981.963 | +469,103.145 |
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 | 827.789 | 26,614,239 | US$35,402m |
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$5,899m |
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$6,521m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$475m |
Note: Change in Total Tonnes from yesterday's data: SPDR added 3.246 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.78: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday's data.
Newmont's (NEM) reserves and resources, Alamos Gold's (AGI) reserves and resources, Avino's (ASM) updated mineral resource estimate, and Silver Bull's (SVBL) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Silvercorp | SVM +4.02% $2.59 |
2. Fortuna | FSM +2.46% $4.58 |
3. Taseko | TGB +1.73% $1.76 |
LOSERS
1. Alio Gold | ALO -6.12% $2.76 |
2. Pan American | PAAS-4.57% $15.03 |
3. Sibanye | SBGL -3.90% $4.43 |
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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