• 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 26: Gold and Silver Fall Almost 1%

Chris Mullen
|
Thursday, October 26th

 

Close

Gain/Loss

Gold

$1267.30

-$10.10

Silver

$16.78

-$0.16

XAU

81.09

-1.84%

HUI

185.19

-2.31%

GDM

621.20

-1.68%

JSE Gold

1403.10

+56.73

USD

94.68

+0.96

Euro

116.46

-1.57

Yen

87.83

-0.17

Oil

$52.64

+$0.46

10-Year

2.462%

+0.028

T-Bond

150.65625

-0.25

Dow

23400.86

+0.31%

Nasdaq

6556.77

-0.11%

S&P

2560.40

+0.13%

 
http://www.goldseek.com/news/2017/2017-10-26_14-01-57.jpg

 

The Metals:

 

Gold gained $5.10 to $1282.50 in Asia and held near unchanged in London, but then fell back off in New York and ended near its last-minute low of $1265.90 with a loss of 0.79%. Silver slipped to as low as $16.744 and ended with a loss of 0.94%.

 

Euro gold rose to about €1088, platinum lost $6 to $915, and copper remained at about $3.17.

 

Gold and silver equities drifted lower for most of trade and ended roughly 2% lower on the day.

 

The Economy:

 

U.S. Pending Home Sales Weaker Than Forecast, Held Back by Irma  Bloomberg

U.S. Goods-Trade Gap Widens to Four-Month High  Bloomberg

U.S. jobless claims climb 10,000 to 233,000 a week after hitting 44-year low  MarketWatch

U.S. House to vote on budget plan amid Republican fight on taxes  Reuters

 

Tomorrow brings GDP and Consumer Sentiment.

 

The Markets:

 

Oil rose almost 1% on continued talk about a potential extension to OPEC-led production cuts.

 

The U.S. dollar index found notable gains as the euro fell after the ECB extended asset purchases by nine months.

 

Treasuries fell as the Dow, Nasdaq, and S&P flirted with new highs on decent earnings reports and hopes for tax cuts.

 

Among the big names making news in the market today were DowDuPont, Barclays, Deutsche Bank, Twitter, UPS, Celgene, Ford, Altria, Microsoft, Exxon, Caterpillar, and American Airlines.

 

GATA Posts:

 

 

Alasdair Macleod: America's stagflation

 

The Statistics:

As of close of business: 10/25/2017

Gold Warehouse Stocks:

8,447,588.889

-63,739.847

Silver Warehouse Stocks:

226,794,829.556

+603,958.69

 

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$34,928m

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$5,655m

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$6,249m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 233.15: +1.26 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,962.09: No change from yesterday’s data.

 

The Miners:

 

Randgold Resources' (GOLD) operations in Mali, Newmont’s (NEM) third quarter results, Gold Resource’s (GORO) dividend, and SilverCrest’s (SIL.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Agnico Eagle

AEM +3.41% $45.45

2.  Harmony

HMY +2.41% $1.70

3.  B2Gold

BTG +0.82% $2.45

 

LOSERS

1.  Coeur

CDE -9.83% $7.52

2.  Barrick

ABX -7.87% $14.51

3.  Gold Standard

GSV -6.25% $1.35

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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