• Gold: 1,225.52 0.19
  • Silver: 14.48 0.00
  • Euro: 1.138 -0.000
  • USDX: 96.732 -0.104
  • Oil: 54.49 1.12

October 16: Gold and Silver Close Slightly Lower

Chris Mullen
|
Tuesday, October 16th

 

Close

Gain/Loss

Gold

$1224.90

-$0.50

Silver

$14.66

-$0.03

XAU

70.10

-0.50%

HUI

155.32

-0.36%

GDM

557.73

-0.05%

JSE Gold

1214.12

-37.98

USD

95.06

-0.02

Euro

115.81

UNCH

Yen

89.32

+0.11

Oil

$71.92

+$0.14

10-Year

3.157%

+0.003

T-Bond

138.53125

+0.25

Dow

25798.42

+2.17%

Nasdaq

7645.49

+2.89%

S&P

2809.92

+2.15%

 
http://www.goldseek.com/news/2018/2018-10-16_14-03-52.jpg

 

The Metals:

 

Gold gained $7 to $1232.40 at about 9:30AM EST, but it then drifted back lower for most of the rest of trade and ended with a loss of 0.04%. Silver rose to as high as $14.845 and ended with a loss of 0.2%.

 

Euro gold remained at about €1058, platinum lost $1 to $843, and copper remained at $2.78.

 

Gold and silver equities saw slight gains for most of the morning before they fell to see nearly 2% losses by midafternoon, but they then bounced back higher in the last 90 minutes of trade and ended only modestly lower.

 

The Economy:

 

U.S. industrial output rises, but momentum slowing  Reuters

U.S. Homebuilder Sentiment Unexpectedly Rises With Solid Demand  Bloomberg

U.S. job openings hit record high of 7.14 million  Reuters

 

Tomorrow brings Housing starts, Building permits, and FOMC minutes.

 

The Markets:

 

Oil ended slightly higher on continued tension with Saudi Arabia.

 

The U.S. dollar index held near unchanged along with treasuries while the Dow, Nasdaq, and S&P gained over 2% on upbeat earnings reports.

 

Among the big names making news in the market today were Adobe, Dollar Tree, UnitedHealth, Johnson & Johnson, Goldman Sachs, Morgan Stanley, and Walmart.

 

GATA Posts:

 

 

Ronan Manly: Hungary announces 10-fold increase in gold reserves

 

The Statistics:

As of close of business: 10/15/2018

Gold Warehouse Stocks:

8,101,421.184

-100.00

Silver Warehouse Stocks:

289,313,984.295

+1,136,235.08

 

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

748.759

24,073,355

US$29,622m

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$5,454m

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$6,030m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.12 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.64: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday’s data.

 

The Miners:

 

Comstock’s (LODE) assay results, Gold Resource’s (GORO) third quarter production, and Coeur’s (CDE) project acquisitions were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  DRDGOLD

DRD +4.35% $2.64

2.  Coeur

CDE +3.59% $5.77

3.  Gold Standard

GSV +2.94% $1.75

 

LOSERS

1.  Americas Silver

USAS -6.25% $2.40

2.  Sibanye

SBGL -3.53% $3.28

3.  NovaGold

NG-3.02% $4.17

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

 

- 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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