• Gold: 1,221.47 -4.92
  • Silver: 14.56 -0.07
  • Euro: 1.147 -0.004
  • USDX: 96.021 0.308
  • Oil: 69.23 -0.4

February 20: Gold and Silver Fall Over 1% With Dow

Chris Mullen
|
Tuesday, February 20th

 

Close

Gain/Loss

Gold

$1330.70

-$18.00

Silver

$16.47

-$0.21

XAU

80.83

-2.89%

HUI

178.98

-3.23%

GDM

614.69

-2.70%

JSE Gold

1152.60

-41.04

USD

89.71

+0.56

Euro

123.37

-0.75

Yen

93.37

-0.63

Oil

$61.79

+$0.24

10-Year

2.881%

+0.010

T-Bond

143.9375

-0.0625

Dow

24964.75

-1.01%

Nasdaq

7234.31

-0.07%

S&P

2716.26

-0.58%

 
http://www.goldseek.com/news/2018/2018-02-20_14-17-48.jpg

 

The Metals:

 

Gold waffled near unchanged in holiday thinned trade yesterday before it fell $13.20 to as low as $1335.50 at about 9AM EST today and then bounced back to $1342.90 by midmorning, but it then dropped to a new session low of $1328.40 by early afternoon and ended with a loss of 1.33%. Silver slipped to as low as $16.426 and ended with a loss of 1.26%.

 

Euro gold fell to about €1079, platinum lost $6 to $998, and copper dropped 5 cents to about $3.20.

 

Gold and silver equities drifted lower for most of the day and ended with about 3% losses.

 

The Economy:

 

Fed Minutes May Give Clues to 2018 Interest Rate Word Puzzle  Bloomberg

Treasury $258 Billion Bond Auction Is Hogging All the Attention  Bloomberg

Student loan borrowers with high debts aren't making progress repaying them  MarketWatch

 

Tomorrow brings Existing Home Sales and FOMC Minutes.

 

The Markets:

 

Oil edged higher on signs of inventory declines at the key Cushing, Oklahoma delivery point.

 

The U.S. dollar index rose along with treasury yields ahead of this week’s large government debt auctions.

 

The Dow, Nasdaq, and S&P fell on poor earnings reports and concerns about debt issuance.

 

Among the big names making news in the market today were Bitcoin, Medtronic, GM, Home Depot, Albertsons, Walmart, and Qualcomm.

 

GATA Posts:

 

 

Incredible 19th-century daguerrotypes show the faces of the Gold Rush

 

The Statistics:

As of close of business: 2/16/2018

Gold Warehouse Stocks:

9,102,010.723

-

Silver Warehouse Stocks:

246,403,878.818

-227,727.90

 

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

824.543

26,509,892

US$35,511m

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$5,909m

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$6,537m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$477m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.245 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.78: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.

 

The Miners:

 

NOVAGOLD’s (NG) drill results, Seabridge Gold’s (SA) commenced drilling, Randgold’s (GOLD) quest to diversify, Paramount’s (PZG) exercised option, Newmont’s (NEM) dividend, Comstock’s (LODE) 2017 results, AngloGold’s (AU) reviving asset in Ghana, and Endeavour Silver’s (EXK) update on development progress were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +0.93% $1.08

2.  DRDGOLD

DRD +0.33% $3.00

3.  EMX Royalty

EMX +0.20% $0.9148

 

LOSERS

1.  Hecla

HL -5.78% $3.75

2.  Pretivm

PVG -5.44% $6.61

3.  Sandstorm

SAND -5.38% $4.57

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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© Gold Seeker 2018

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