• Gold: 1,174.13 0.46
  • Silver: 14.65 0.01
  • Euro: 1.138 0.000
  • USDX: 96.608 -0.136
  • Oil: 65.48 0.5

July 17: Gold and Silver Fall Over 1%

Chris Mullen
|
Tuesday, July 17th

 

Close

Gain/Loss

Gold

$1227.80

-$13.40

Silver

$15.58

-$0.21

XAU

80.03

-0.14%

HUI

172.93

-0.07%

GDM

608.11

-0.19%

JSE Gold

1024.16

+9.15

USD

94.95

+0.43

Euro

116.65

-0.47

Yen

88.75

-0.16

Oil

$68.08

+$0.02

10-Year

2.863%

+0.010

T-Bond

145.0625

-0.625

Dow

25119.89

+0.22%

Nasdaq

7855.12

+0.63%

S&P

2809.55

+0.40%

 
http://www.goldseek.com/news/2018/2018-07-17_14-01-13.jpg

 

The Metals:

 

Gold edged up to $1245.00 in Asia before it dropped back to $1226.10 in late morning New York trade and then bounced back higher into the close, but it still ended with a loss of 1.08%. Silver slipped to as low as $15.548 and ended with a loss of 1.33%.

 

Euro gold fell under €1053, platinum lost $6 to $816, and copper dropped 2 cents to about $2.74.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Powell says the ‘best path’ is continued, gradual interest-rate hikes  MarketWatch

Home builder confidence holds up as buyer demand offsets trade war costs  MarketWatch

Manufacturing Output in U.S. Rises by Most in Four Months  Bloomberg

 

Tomorrow brings Housing starts, Building permits, Jerome Powell testimony, and the fed’s Beige book.

 

The Markets:

 

Oil steadied after yesterday’s notable loss.

 

The U.S. dollar index rose and treasuries fell on Powell’s upbeat economic outlook that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Fox, Goldman Sachs, Adidas, Johnson & Johnson, and Netflix.

 

GATA Posts:

 

 

Robert Lambourne: June shows no change in BIS intervention in gold

 

The Statistics:

As of close of business: 7/16/2018

Gold Warehouse Stocks:

8,658,102.481

-

Silver Warehouse Stocks:

280,018,087.358

-319,950.849

 

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

794.010

25,528,228

US$31,465m

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$5,460m

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$6,031m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$441m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.179 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,198.24: +35.12 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) Exodus project and Impact Silver’s (IPT.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Nevsun

NSU +11.21% $3.57

2.  Gold Standard

GSV +6.21% $1.54

3.  Buenaventura

BVN +5.18% $13.19

 

LOSERS

1.  First Majestic

AG -8.75% $6.78

2.  Americas Silver

USAS -3.86% $2.74

3.  Great Panther

GPL -3.54% $1.09

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

 

- Chris Mullen, Gold Seeker Report

 

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