• 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 30: Gold Gains While Stocks Drop

Chris Mullen
|
Monday, October 30th

 

Close

Gain/Loss

Gold

$1275.60

+$2.50

Silver

$16.84

UNCH

XAU

82.37

+0.99%

HUI

189.17

+1.14%

GDM

631.95

+1.22%

JSE Gold

1380.45

+8.03

USD

94.44

-0.44

Euro

116.58

+0.58

Yen

88.47

+0.47

Oil

$54.15

+$0.25

10-Year

2.368%

-0.051

T-Bond

152.375

+1.1875

Dow

23348.74

-0.36%

Nasdaq

6698.96

-0.03%

S&P

2572.83

-0.32%

 
http://www.goldseek.com/news/2017/2017-10-30_14-01-46.jpg

 

The Metals:

 

Gold dipped $4.10 to $1269.00 in Asia, but it then jumped up to as high as $1278.80 in early afternoon New York trade and ended with a gain of 0.2%. Silver rose to as high as $16.892 and ended unchanged on the day.

 

Euro gold fell to about €1094, platinum gained 44 to $917, and copper remained at about $3.10.

 

Gold and silver equities rose over 1% by midday and remained near that level for the rest of the day.

 

The Economy:

 

U.S. consumer spending grows at fastest pace since 2009  Reuters

Fed statement may have treats for the hawks and the doves  MarketWatch

U.S. Homes Are Getting Snapped Up at the Fastest Pace in 30 Years  Bloomberg

 

Tomorrow brings the Employment Cost Index, S&P Corelogic Case-Shiller HPI, Chicago PMI, and Consumer Confidence.

 

The Markets:

 

Oil rose again on the outlook for an extension to supply cuts.

 

The U.S. dollar index fell and treasuries found notable gains as the Dow, Nasdaq, and S&P dropped on poor earnings and political uncertainty.

 

Among the big names making news in the market today were Merck, Daimler, Tata Steel, Lennar, CalAtlantic, Kobe Steel, and Akzo Nobel.

 

GATA Posts:

 

 

Royal Canadian Mint-stamped gold wafer appears to be fake

New York Sun: Is America on a gold standard?

Federal prosecutors are investigating Wells Fargo FX business, report says

 

The Statistics:

As of close of business: 10/27/2017

Gold Warehouse Stocks:

8,707,209.874

+259,620.985

Silver Warehouse Stocks:

225,762,493.357

+1,144,337.881

 

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

850.769

27,353,060

US$34,782m

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$5,678m

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$6,271m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.181 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 233.15: No change from yesterday’s data.

 

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

 

The Miners:

 

WINNERS

1.  Eldorado

EGO +5.43% $1.36

2.  Silvercorp

SVM +4.94% $2.55

3.  Nevsun

NSU +4.35% $2.40

 

LOSERS

1.  Alexco

AXU -4.31% $1.11

2.  Gold Standard

GSV -2.86% $1.36

3.  Buenaventura

BVN -2.14% $13.70

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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