• Gold: 1,194.52 4.38
  • Silver: 14.80 0.04
  • Euro: 1.152 0.005
  • USDX: 95.543 0.005
  • Oil: 65.51 0.14

February 5: Gold and Silver Gain While Dow Suffers Worst Daily Point Plunge in History

Chris Mullen
|
Monday, February 5th

 

Close

Gain/Loss

Gold

$1336.30

+$4.50

Silver

$16.70

+$0.10

XAU

83.07

-0.96%

HUI

185.80

-1.19%

GDM

633.83

-1.41%

JSE Gold

1200.17

-28.72

USD

89.60

+0.44

Euro

123.92

-0.67

Yen

91.37

+0.52

Oil

$64.15

-$1.30

10-Year

2.731%

-0.107

T-Bond

146.53125

+1.75

Dow

24345.75

-4.60%

Nasdaq

6967.53

-3.78%

S&P

2648.94

-4.10%

 
http://www.goldseek.com/news/2018/2018-02-05_14-05-19.jpg

 

The Metals:

 

Gold gained $6.80 to $1338.60 in London before it drifted back towards unchanged in New York, but it then jumped to a new session high of $1341.50 in the last hour of trade and ended with a gain of 0.34%. Silver rose to as high as $16.904 and ended with a gain of 0.6%.

 

Euro gold rose to about €1079, platinum lost $3 to $985.50, and copper climbed 3 cents to about $3.22.

 

Gold and silver equities fell roughly 2% by midafternoon before they rallied back higher into the close, but they still ended about 1% lower on the day.

 

The Economy:

 

U.S. Service Industries Grow Most in at Least 10 Years  Bloomberg

Jerome Powell sworn in as Fed chairman  MarketWatch

 

Tomorrow brings International Trade data.

 

The Markets:

 

Oil fell 2% and the U.S. dollar index rose with treasuries as the Dow, Nasdaq, and S&P dropped roughly 4% in wild late session action.

 

Wall St. plunges as stocks selloff continues

 

U.S. Stocks Plummet, Erasing Gains for the Year

S&P 500 off more than 5% from its all-time peak as global equity selloff continues

 

Among the big names making news in the market today were Lloyds, Amazon, Wells Fargo, and Broadcom.

 

GATA Posts:

 

 

Fines against bullion banks for market rigging vindicate GATA, Sprott says

Sudanese pound is on the way to becoming an ounce

Bitcoin ban expands across credit cards as big U.S. banks recoil

Robert Lambourne: BIS gold derivatives fall in December but remain hefty

 

The Statistics:

As of close of business: 2/2/2018

Gold Warehouse Stocks:

9,361,556.156

+96,177.574

Silver Warehouse Stocks:

248,051,783.870

+1,552,287.24

 

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

841.353

27,050,351

US$36,060m

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$5,928m

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$6,553m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$480m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.25: -0.06 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,732.72: -4.16 change from yesterday’s data.

 

The Miners:

 

Entrée’s (EGI) board changes and Randgold’s (GOLD) dividend, fourth quarter results and updates, and talks with the government of the Democratic Republic of Congo were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +19.89% $1.03

2.  Gold Standard

GSV +4.97% $1.69

3.  Harmony

HMY +4.79% $1.75

 

LOSERS

1.  Randgold

GOLD-6.65%$92.63

2.  Paramount

PZG -4.55% $1.26

3.  Avino

ASM -4.48% $1.28

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

© Gold Seeker 2018

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