• Gold: 1,293.87 0.20
  • Silver: 17.28 0.01
  • Euro: 1.178 -0.001
  • USDX: 93.662 0.049
  • Oil: 56.81 1.33

October 23: Gold and Silver Jump Higher in Late Trade

Chris Mullen
|
Monday, October 23rd

 

Close

Gain/Loss

Gold

$1282.30

+$2.30

Silver

$17.09

+$0.06

XAU

84.17

-0.98%

HUI

194.68

-1.44%

GDM

641.81

-0.49%

JSE Gold

1333.15

+1.15

USD

93.84

+0.11

Euro

117.49

-0.20

Yen

88.29

+0.11

Oil

$51.90

+$0.06

10-Year

2.372%

-0.011

T-Bond

152.4375

+0.25

Dow

23273.96

-0.23%

Nasdaq

6586.83

-0.64%

S&P

2564.98

-0.40%

 
http://www.goldseek.com/news/2017/2017-10-23_14-02-14.jpg

 

The Metals:

 

Gold fell $7.50 to $1272.50 by a little after 9AM EST before it jumped up to $1282.50 in early afternoon action and then drifted back lower, but it then popped back higher again into the close and ended near its last-minute high of $1283.30 with a gain of 0.18%. Silver rose to as high as $17.105 and ended with a gain of 0.35%.

 

Euro gold rose to about €1091, platinum gained $2 to $923, and copper climbed 2 cents to about $2.17.

 

Gold and silver equities fell roughly 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Trump's shiny tax-cut plan has a $1.5 trillion problem  CNBC

Chicago Fed's national activity index claws back to positive in September with a factory boost  MarketWatch

Trump says tax plan will not change 401(k) plans: tweet  Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Oil ended with a small gain on news of supply disruptions in Iraq.

 

The U.S. dollar index rose on speculation over Trump’s pick for the next fed chair.

 

Treasuries edged higher as the Dow, Nasdaq, and S&P mostly fell on mixed earning reports.

 

Among the big names making news in the market today were GE, Merrill Lynch, Cisco and BroadSoft, Halliburton, T-Mobile, State Street, HSBC, Arconic, and Hasbro.

 

GATA Posts:

 

 

Ted Butler: Fear of silver shorting spurs Scotia to sell its metals division

Ron Paul: Trump's picks for Fed chairman are just more of the same

China's trillion-dollar plan for world domination splits Australian politicians

 

The Statistics:

As of close of business: 10/20/2017

Gold Warehouse Stocks:

8,511,328.736

-

Silver Warehouse Stocks:

222,377,652.326

+501,899.105

 

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

853.132

27,429,045

US$34,960m

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$5,658m

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$6,260m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$460m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 231.56: +1.19 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,994.39: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) comments on the Acacia / Barrick-Tanzania settlement, Freeport’s (FCX) unrest in Indonesia, Eldorado’s (EGO) operations update, Gold Fields’ (GFI) operating update, and Randgold’s (GOLD) thoughts on Côte d'Ivoire were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Fortuna

FSM +5.73% $4.61

2.  AngloGold

AU +2.00% $9.69

3.  Paramount

PZG +1.60% $1.28

 

LOSERS

1.  Eldorado

EGO -28.57% $1.55

2.  Tahoe

TAHO -4.21% $4.78

3.  Northern Dynasty

NAK -3.90% $1.97

Winners & Losers tracks NYSE and AMEX 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 2017

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