• Gold: 1,523.55 7.48
  • Silver: 18.66 0.71
  • Euro: 1.100 -0.002
  • USDX: 98.6 0.087
  • Oil: 58.41 -0.04

December 17: Gold and Silver Gain Almost 1% While Stocks Drop Over 2%

Chris Mullen
|
Monday, December 17th

 

Close

Gain/Loss

Gold

$1246.30

+$8.00

Silver

$14.67

+$0.09

XAU

69.19

+2.37%

HUI

156.72

+2.66%

GDM

570.75

+1.84%

JSE Gold

1302.25

+3.60

USD

97.14

-0.32

Euro

113.47

+0.42

Yen

88.54

+0.31

Oil

$49.88

-$1.32

10-Year

2.858%

-0.035

T-Bond

143.75

+0.46875

Dow

23592.98

-2.11%

Nasdaq

6753.73

-2.27%

S&P

2545.94

-2.08%

 
http://www.goldseek.com/news/2018/2018-12-17_14-01-50.jpg

 

The Metals:

 

Gold saw slight losses in Asia, but it then climbed steadily higher in London and New York and ended near its early afternoon high of $1248.10 with a gain of 0.65%. Silver rose to as high as $14.70 and ended with a gain of 0.62%.

 

Euro gold rose above €1098, platinum gained $5 to $791, and copper edged down to $2.75.

 

Gold and silver equities climbed roughly 2% higher by midday and remained near that level for the rest of the day.

 

The Economy:

 

Trump Today: President makes last-ditch effort to sway Fed with ‘take the victory’ tweet  MarketWatch

Home builder confidence hits 3½ year low as housing crunch worsens  MarketWatch

Empire State manufacturing index slumps in December to 19-month low  MarketWatch

Treasury yields slip amid lingering growth slowdown fears; Fed meeting in focus  CNBC

Standoff over Trump border wall puts U.S. Congress in budget 'pickle'  Reuters

 

Tomorrow brings Housing starts and Building permits.

 

The Markets:

 

Oil fell almost 3%, the U.S. dollar index dropped, and treasuries rose while the Dow, Nasdaq, and S&P lost over 2% on continued concerns about slowing global growth and an overly aggressive fed when it comes to further interest rate hikes.

 

Among the big names making news in the market today were Huawei, ZTE, Johnson & Johnson, and Netflix.

 

GATA Posts:

 

 

Von Greyerz, at KWN, notes collapse of European bank stocks

The view from Nome: The world changes when you see gold under water

Ritesh Jain: It's the liquidity, Stupid! That's what is causing all the turmoil

Ambrose Evans-Pritchard: BIS warns of seizure at heart of financial clearing system

J.P. Koning: An early attempt at standardizing money using international gold coins

Here come the class-action lawsuits against JPM for rigging gold and silver futures

BMG Group's Brandon White: Governments less able to hide intervention against gold

 

The Statistics:

As of close of business: 12/14/2018

Gold Warehouse Stocks:

8,338,854.476

-160.755

Silver Warehouse Stocks:

298,087,512.483

+144,286.134

 

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

763.556

24,549,098

US$30,476m

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$5,521m

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$6,102m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$447m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 274.66: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,913.79: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) production increase, Golden Star’s (GSS) drill results, and Avino’s (ASM) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Coeur

CDE +14.4% $4.37

2.  Pretivm

PVG +10.51% $8.20

3.  Yamana

AUY +8.49% $2.30

 

LOSERS

1.  Sibanye

SBGL -6.79% $2.61

2.  Turquoise

TRQ -4.17% $1.61

3.  Golden Star

GSS -2.68% $2.90

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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