• Gold: 1,285.22 11.36
  • Silver: 14.61 0.17
  • Euro: 1.118 0.003
  • USDX: 97.863 -0.226
  • Oil: 57.87 -3.46

January 3: Gold and Silver Gain About 1% While Stocks Drop Roughly 3%

Chris Mullen
|
Thursday, January 3rd

 

Close

Gain/Loss

Gold

$1294.60

+$11.60

Silver

$15.73

+$0.22

XAU

72.17

+1.73%

HUI

163.37

+1.65%

GDM

597.67

+1.98%

JSE Gold

1445.45

+47.57

USD

96.25

-0.54

Euro

113.99

+0.55

Yen

93.40

+1.71

Oil

$47.09

+$0.55

10-Year

2.560%

-0.095

T-Bond

148.4375

+1.6875

Dow

22686.22

-2.83%

Nasdaq

6463.50

-3.04%

S&P

2447.89

-2.48%

 
http://www.goldseek.com/news/2019/2019-01-03_14-01-57.jpg

 

The Metals:

 

Gold gained $9.30 to $1292.30 in Asia before it dropped back to $1284.80 just after 8:15AM EST, but it then climbed back higher in New York and ended near its new 6-1/2 month high of $1294.70 with a gain of 0.9%. Silver rose to as high as $15.751 and ended with a gain of 1.42%.

 

Euro gold rose to about €1136, platinum gained $6.50 to $796, and copper dropped 3 cents to about $2.58.

 

Gold and silver equities rose over 1% at the open before they fell back towards unchanged by late morning, but they then climbed to new highs in afternoon trade and closed nearly 2% higher on the day.

 

The Economy:

 

Dallas Fed's Kaplan Favors Rate Hike Pause Amid Uncertainty  Bloomberg

ISM manufacturing index falls to lowest level since November 2016  CNBC

U.S. private payrolls surge in December; weekly jobless claims rise  Reuters

December private payrolls rise 271K vs. 178K est.: ADP/Moody's  CNBC

 

Tomorrow brings Nonfarm payrolls, the Unemployment rate, Average hourly earnings, and Markit services PMI.

 

The Markets:

 

Oil rose over 1% on continued indications that suppliers are adhering to output cuts.

 

The U.S. dollar index dropped as the yen jumped up on safe haven buying that sent treasuries higher and sent the Dow, Nasdaq, and S&P over 2% lower on additional fears about slowing economic growth.

 

Among the big names making news in the market today were Tesla, Delta, Apple, Cargill, Bristol-Myers and Celgene, and GM.

 

GATA Posts:

 

 

Forget Fed hikes, as traders now are pricing a cut by April 2020

Ambrose Evans-Pritchard: The euro has failed, threatens democracy, and should be abolished

 

The Statistics:

As of close of business: 1/2/2019

Gold Warehouse Stocks:

8,434,261.646

-

Silver Warehouse Stocks:

293,746,405.781

+496,121.433

 

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

795.313

25,570,122

US$32,985m

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$5,730m

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$6,331m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$464m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 7.644 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 280.23: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,867.07: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Alio Gold

ALO +10.22% $1.025

2.  Eldorado

EGO +9.15% $3.46

3.  Americas Silver

USAS +8.88% $1.84

 

LOSERS

1.  Freeport

FCX -2.80% $10.07

2.  Turquoise

TRQ -2.44% $1.60

3.  EMX Royalty

EMX -1.74% $1.13

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 2019

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