• Gold: 1,174.20 0.53
  • Silver: 14.63 -0.01
  • Euro: 1.137 0.000
  • USDX: 96.584 0.045
  • Oil: 65.5 0.52

August 1: Gold and Silver Fall With Bonds

Chris Mullen
|
Wednesday, August 1st
 

Close

Gain/Loss

Gold

$1216.10

-$8.50

Silver

$15.39

-$0.14

XAU

75.87

-1.85%

HUI

164.46

-1.15%

GDM

589.15

-0.71%

JSE Gold

1067.54

+8.62

USD

94.65

+0.13

Euro

116.62

-0.35

Yen

89.56

+0.04

Oil

$67.66

-$1.10

10-Year

3.005%

+0.047

T-Bond

142.125

-0.84375

Dow

25333.82

-0.32%

Nasdaq

7707.29

+0.46%

S&P

2813.36

-0.10%

 
http://www.goldseek.com/news/2018/8-1.JPG
 

The Metals:

 

Gold dropped $4.60 to $1220.00 in Asia before it rallied back to unchanged in London and then fell to a new session low of $1216.70 at about 11AM EST, but it then bounced back higher into midafternoon and ended with a loss of just 0.69%. Silver slipped to as low as $15.39 and ended with a loss of 0.9%.

 

Euro gold fell to about €1043, platinum lost $22 to $815, and copper dropped 10 cents to about $2.73.

 

Gold and silver equities fell roughly 1% at the open before they chopped back higher at times, but they ultimately ended near their lows of the session.

 

The Economy:

 

Fed signals another hike coming soon as it peppers statement with the word ‘strong’ MarketWatch

Construction spending drops in June after upward revision MarketWatch

U.S. factory activity slows; private payrolls increase Reuters

U.S. Manufacturing Cools as Gauge of Orders at One-Year Low Bloomberg

Debt-laden US government is expanding the size of Treasury bond auctions to fund itself CNBC

Housing demand sees biggest drop in more than 2 years CNBC

Global factory growth slowing; China-U.S. trade war biting Reuters

U.S. companies create 219,000 new jobs in July, ADP says MarketWatch

 

Tomorrow brings Weekly jobless claims and Factory orders.

 

 

The Markets:

 

Oil fell over 1% after the Energy Information Administration reported that crude inventories rose 3.8 million barrels, gasoline inventories fell 2.5 million barrels, and distillates rose 3.0 million barrels.

 

The U.S. dollar index traded mostly higher on steady economic data and fedspeak that sent treasuries lower.

 

The Dow, Nasdaq, and S&P saw decent gains for most of the morning on strong earnings reports, but they then turned mixed on interest rate uncertainty before they fed’s announcement and remained near unchanged after.

 

Among the big names making news in the market today were Chesapeake Energy, Wells Fargo, Huawei, Pandora, BNP Paribas, BAE, and Apple.

 

GATA Posts:

 

 

Ronan Manly: Spotlight on the HUI and XAU gold stock indexes

 

The Statistics:

As of close of business: 7/31/2018

Gold Warehouse Stocks:

8,646,495.244

-14,693.74

Silver Warehouse Stocks:

283,668,806.163

-1,111,078.66

 

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

800.196

25,727,105

US$31,350m

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$5,424m

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$6,007m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$437m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.22: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,246.51: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) corporate tax reduction, McEwen’s (MUX) new President and COO, and Centerra Gold’s (CG.TO) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Avino

ASM +2.61% $1.18

2. Sibanye

SBGL +2.38% $2.58

3. Alexco

AXU +0.84 $1.20

 

 

LOSERS

1. Gold Resource

GORO -18.78% $5.32

2. Eurasian

EMX -7.25% $1.28

3. Eldorado

EGO -6.42% $1.02

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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