• Gold: 1,333.04 -1.58
  • Silver: 16.98 -0.02
  • Euro: 1.226 -0.000
  • USDX: 90.401 -0.223
  • Oil: 63.82 0.41

January 3: Gold and Silver End Slightly Lower

Chris Mullen
|
Wednesday, January 3rd

 

Close

Gain/Loss

Gold

$1314.90

-$3.30

Silver

$17.14

-$0.03

XAU

87.08

-1.19%

HUI

197.35

-0.63%

GDM

660.98

-0.75%

JSE Gold

1338.73

+21.37

USD

92.18

+0.32

Euro

120.12

-0.53

Yen

88.97

-0.15

Oil

$61.63

+$1.26

10-Year

2.440%

-0.018

T-Bond

152.28125

+0.53125

Dow

24922.68

+0.40%

Nasdaq

7065.53

+0.84%

S&P

2713.06

+0.64%

 
http://www.goldseek.com/news/2017/2018-01-03_14-01-14.jpg

 

The Metals:

 

Gold dropped $6.40 to $1311.80 in Asia before it rallied to $1317.80 in London and then fell back to a new session low of $1307.50 after the release of fed minutes in New York, but it then jumped back higher in late trade and ended with a loss of just 0.25%. Silver slipped to as low as $17.032 and ended with a loss of 0.17%.

 

Euro gold rose to about €1095, platinum gained $9.50 to $952.50, and copper fell a couple of cents to about $3.24.

 

Gold and silver equities fell roughly 1% at the open and saw about 2% losses in midafternoon trade, but they then bounced back higher into the close and ended only modestly lower on the day.

 

The Economy:

 

Fed policymakers see future rate rises guided by inflation, fiscal stimulus  Reuters

Most Fed Officials Backed Continued Gradual Rate Increases  Bloomberg

Fed minutes show divide over its own forecast of three rate hikes this year  MarketWatch

Manufacturing in the U.S. Just Accelerated to Its Best Year Since 2004  Bloomberg

U.S. construction spending rises to record high in November  Reuters

 

Tomorrow brings ADP Employment, Initial Jobless Claims, and PMI Services.

 

The Markets:

 

Oil rose over 2% on concerns about rising tensions Iran.

 

The U.S. dollar index rebounded from notable recent losses on decent economic data.

 

Treasuries rose after the fed’s minutes showed altering opinions about the appropriate number of rate hikes this year.

 

The Dow, Nasdaq, and S&P climbed to new highs on the overall outlook for the continuation of gradual interest rate increases from the fed.

 

Among the big names making news in the market today were BlackBerry, Baidu, Ford, GM, Petrobras, Spotify, and Scana.

 

GATA Posts:

 

 

Who the hell does the grand mufti think he is -- a central banker?

China said to be preparing to limit bitcoin mining

 

The Statistics:

As of close of business: 1/2/2018

Gold Warehouse Stocks:

9,190,925.256

+48,226.50

Silver Warehouse Stocks:

245,303,791.557

+579,307.28

 

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

836.315

26,888,376

US$35,343m

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$5,848m

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$6,463m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$472m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.181 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 243.49: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,972.70: No change from yesterday’s data.

 

The Miners:

 

Banro’s (BAA) mine update and SilverCrest’s (SIL.V) President appointment and private placement/granted options were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +2.97% $1.49

2.  DRDGOLD

DRD +1.53% $3.32

3.  New Gold

NGD +1.17% $3.45

 

LOSERS

1.  Taseko

TGB -9.81% $1.93

2.  Coeur

CDE -5.77% $7.51

3.  McEwen

MUX -5.28% $2.33

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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