Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 1% on the Week While Stocks Drop Over 5%
| Close | Gain/Loss | On Week |
Gold | $1314.80 | -$2.40 | -1.28% |
Silver | $16.32 | -$0.06 | -1.69% |
XAU | 78.35 | -1.90% | -6.59% |
HUI | 174.55 | -2.15% | -7.17% |
GDM | 596.91 | -1.61% | -7.11% |
JSE Gold | 1131.89 | -10.58 | -7.89% |
USD | 90.43 | +0.10 | +1.42% |
Euro | 122.38 | -0.09 | -1.77% |
Yen | 92.09 | +0.14 | +1.36% |
Oil | $59.20 | -$1.95 | -9.55% |
10-Year | 2.855% | +0.026 | +0.60% |
Bond | 143.71875 | -0.75 | -0.88% |
Dow | 24190.90 | +1.38% | -5.21% |
Nasdaq | 6874.49 | +1.44% | -5.06% |
S&P | 2619.55 | +1.49% | -5.16% |
The Metals:
Gold gained $3.20 to $1320.40 in Asia before it chopped back to $1311.50 in late morning New York trade and then bounced back higher at times, but it still ended with a loss of 0.18%. Silver slipped to as low as $16.19 and ended with a loss of 0.37%.
Euro gold fell to about EUR1075, platinum lost $8 to $961, and copper dropped 4 cents to about $3.04.
Gold and silver equities fell over 4% by early afternoon, but they then rallied back higher into the close and ended with only about 2% losses on the day.
U.S. wholesale inventories for December revised higher Reuters
Trump signs deal to end brief government shutdown, increase U.S. spending Reuter
The 'markets stop panicking when the Fed starts panicking': Bank of America Merrill Lynch MarketWatch
Next week's economic highlights include the Treasury Budget on Monday, the NFIB Small Business Optimism Index on Tuesday, CPI, Retail Sales, and Business Inventories on Wednesday, Initial Jobless Claims, the Philadelphia Fed, PPI, Empire State Manufacturing, Industrial Production, and the Housing Market Index on Thursday, and Housing Starts, Import and Export Prices, and Consumer Sentiment on Friday.
The Markets:
Oil fell over 3% after Baker Hughes reported that the number of active U.S. rigs drilling for oil jumped by 26 to 791 this week.
The U.S. dollar index edged higher and treasuries closed modestly lower while the Dow, Nasdaq, and S&P swung in a wide range and ended over 1% higher on hopes for more stability next week.
Among the big names making news in the market Friday were GE, Qualcomm, CBOE, Expedia, FireEye, Amazon, FedEx, UPS, and Nvidia.
The Statistics:
Activity from: 2/8/2018
Gold Warehouse Stocks: | 9,281,457.005 | -10,713.781 |
Silver Warehouse Stocks: | 250,269,462.412 | +155,266.93 |
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 | 826.314 | 26,566,822 | US$34,944m |
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$5,844m |
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$6,458m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$473m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 0.59 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. Nevsun | NSU +2.84% $2.17 |
2. Freeport | FCX +2.39% $17.57 |
3. Newmont | NEM +0.41% $36.76 |
LOSERS
1. Eldorado | EGO -7.32% $1.14 |
2. New Gold | NGD -7.22% $2.57 |
3. Great Panther | GPL -6.56% $1.14 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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