• Gold: 1,226.20 -0.19
  • Silver: 14.58 -0.05
  • Euro: 1.151 0.000
  • USDX: 95.713 -0.243
  • Oil: 69.63 0.88

Gold Seeker Closing Report: Gold and Silver Gain Over 1%

Chris Mullen
|
Tuesday, October 2nd

 

Close

Gain/Loss

Gold

$1203.20

+$13.60

Silver

$14.67

+$0.18

XAU

66.98

+2.82%

HUI

146.35

+3.58%

GDM

528.82

+2.46%

JSE Gold

1045.92

+49.63

USD

95.46

+0.18

Euro

115.55

-0.23

Yen

87.98

+0.12

Oil

$75.23

-$0.07

10-Year

3.056%

-0.037

T-Bond

140.46875

+0.50

Dow

26773.94

+0.46%

Nasdaq

7999.55

-0.47%

S&P

2923.43

-0.04%

 
http://www.goldseek.com/news/2018/2018-10-02_14-02-38.jpg

 

The Metals:

 

Gold saw modest gains in Asia before it dipped back to $1189.20 in London, but it then jumped to as high as $1208.30 in late morning New York trade and ended with a gain of 1.14%. Silver rose to as high as $14.908 and ended with a gain of 1.24%.

 

Euro gold climbed above €1041, platinum gained $10 to $829, and copper climbed 2 cents to about $2.80.

 

Gold and silver equities rose roughly 3% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Fed's Jerome Powell doesn't expect low unemployment rate to cause inflation spike  MarketWatch

U.S. believes it has the upper hand in China trade negotiations with Nafta deal done  MarketWatch

Defiant Italy says no turning back on budget despite EU 'threats'  Reuters

Hurricanes batter September U.S. new car sales  Reuters

 

Tomorrow brings ADP employment, ISM nonmanufacturing, and more fedspeak.

 

The Markets:

 

Oil ended slightly lower ahead of tomorrow’s inventory data.

 

The U.S. dollar index rose along with treasuries on renewed concerns about Italy.

 

The Dow, Nasdaq, and S&P waffled near unchanged on mixed company news and fed comments.

 

Among the big names making news in the market today were Stitch Fix, Facebook, Amazon, and PepsiCo.

 

GATA Posts:

 

 

Don't take our word for it, GATA secretary says -- Examine the documentation yourself

Ronan Manly: LBMA clearing and vaulting data reveal the absurdity of London 'gold' market

 

The Statistics:

As of close of business: 10/1/2018

Gold Warehouse Stocks:

8,330,689.966

-

Silver Warehouse Stocks:

289,660,424.064

-64,552.00

 

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

740.172

23,797,272

US$28,659m

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$5,354m

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$5,919m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$432m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.06 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 267.59: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,358.91: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) completed strategic investment by La Mancha, Paramount’s (PZG) exploration program, Excellon’s (EXN.TO) exploration results, Hecla’s (HL) increased holdings in Dolly Varden, and Newmont’s (NEM) award were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +7.09% $2.72

2.  Pretivm

PVG +5.61% $8.09

3.  Gold Standard

GSV +5.49% $1.73

 

LOSERS

1.  Silvercorp

SVM -2.49% $2.35

2.  DRDGOLD

DRD -1.22% $2.43

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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