• Gold: 1,265.55 9.57
  • Silver: 17.26 0.10
  • Euro: 1.122 0.001
  • USDX: 97.079 -0.169
  • Oil: 49.21 0.45

April 19: Gold and Silver Fall Almost 1%

Chris Mullen
|
Wednesday, April 19th
 

Close

Gain/Loss

Gold

$1279.20

-$10.90

Silver

$18.14

-$0.18

XAU

86.30

-3.21%

HUI

204.35

-3.66%

GDM

655.62

-3.07%

JSE Gold

1573.33

-37.71

USD

99.77

+0.28

Euro

107.14

-0.18

Yen

91.87

-0.29

Oil

$50.44

-$1.97

10-Year

2.214%

+0.033

T-Bond

154.625

-0.53125

Dow

20404.49

-0.56%

Nasdaq

5863.03

+0.23%

S&P

2338.17

-0.17%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-19gsr/1.jpg

The Metals:

 

Gold dropped $14.60 to $1275.50 in midmorning New York trade before it edged back higher at times, but it still ended with a loss of 0.84%. Silver slipped to as low as $18.099 and ended with a loss of 0.98%.

 

Euro gold fell to about €1195, platinum lost $10 to $964, and copper remained at about $2.54.

 

Gold and silver equities fell roughly 4% by midafternoon before they bounced back higher into the close, but they still ended with over 3% losses on the day.

The Economy:

 

U.S. economy shows only modest signs of inflation pressures: Fed Reuters

IMF warns of dangers of enacting fiscal stimulus as credit cycle worsens MarketWatch

Mortgage applications drop 1.8%, despite lowest interest rates since November CNBC

Fed June Hike Odds Below 50% After Inflation Expectations Tumble Bloomberg

 

Tomorrow brings Initial Claims, the Philadelphia Fed, and Leading Indicators.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-19gsr/1.png

Charts Courtesy of http://finance.yahoo.com/

 

Oil dropped almost 4% after the Energy Information Administration reported that crude inventories fell 1.0 million barrels, gasoline inventories rose 1.5 million barrels, and distillates fell 2.0 million barrels.

 

The U.S. dollar index rose and treasuries fell while the Dow, Nasdaq, and S&P traded mixed as mostly positive earnings reports were offset by concerns about oil’s drop.

 

Among the big names making news in the market today were GNC, BlackRock, Morgan Stanley, Abbott, and IBM.

 

GATA Posts:

 

 

Trump 'absolutely not' trying to talk down dollar, Treasury's Mnuchin says

 

The Statistics:

As of close of business: 4/18/2017

Gold Warehouse Stocks:

8,953,326.674

-15,975.065

Silver Warehouse Stocks:

193,278,118.080

-

 

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® Gold Shares

848.921

27,293,664

US$34,903m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,680m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,276m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 203.46: +0.59 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,178.76: -29.45 change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) discharge permit, Seabridge Gold’s (SA) bought deal public offering, AuRico’s (AMI.TO) corporate update, and McEwen’s (MUX) production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Paramount

PZG +3.63% $1.71

2. Seabridge

SA +3.08% $11.70

LOSERS

1. Alexco

AXU -7.74% $1.43

2. Almaden

AAU -7.50% $1.48

3. Taseko

TGB -7.34% $1.00

Winners & Losers tracks NYSE and AMEX 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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

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