• Gold: 1,222.17 -0.67
  • Silver: 14.56 -0.01
  • Euro: 1.146 -0.000
  • USDX: 96.013 0.302
  • Oil: 69.43 -0.2

September 18: Gold and Silver Edge Lower

Chris Mullen
|
Tuesday, September 18th

 

Close

Gain/Loss

Gold

$1198.40

-$2.10

Silver

$14.15

-$0.02

XAU

65.40

+0.70%

HUI

141.20

+0.45%

GDM

511.68

+0.31%

JSE Gold

1045.58

+15.79

USD

94.62

+0.12

Euro

116.68

-0.20

Yen

89.18

-0.16

Oil

$69.85

+$0.94

10-Year

3.054%

+0.061

T-Bond

141.40625

-1.00

Dow

26246.96

+0.71%

Nasdaq

7956.11

+0.76%

S&P

2904.31

+0.54%

 
http://www.goldseek.com/news/2018/2018-09-18_14-08-50.jpg

 

The Metals:

 

Gold dipped $4.60 to $1195.90 in Asia before it climbed up to $1203.50 in early New York trade and then drifted back lower into the close, but it ended with a loss of just 0.17%. Silver chopped between $14.072 and $14.229 and ended with a loss of 0.14%.

 

Euro gold remained at €1027, platinum gained $14 to $811, and copper climbed 7 cents to about $2.71.

 

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

 

The Economy:

 

Home builder confidence stalls as tariffs bite  MarketWatch

China says Trump forces its hand, will retaliate against new U.S. tariffs  Reuters

Mortgage lenders may again lower standards as applications drop, former CitiMortgage CEO says  MarketWatch

 

Tomorrow brings Housing starts, Building permits, and the Current account deficit.

 

The Markets:

 

Oil gained over 1% on talk that Saudi Arabia is now comfortable with Brent oil prices rising above $80 a barrel.

 

The U.S. dollar index ended slightly higher in mixed trade on trade uncertainty.

 

Treasuries fell on increased confidence in rising interest rates.

 

The Dow, Nasdaq, and S&P rose on thoughts that trade disruptions will not impact world economic growth.

 

Among the big names making news in the market today were Audi, Oracle, Visa, Mastercard, and Viking Therapeutics.

 

GATA Posts:

 

 

South African unions sign three-year contract with AngloGold

 

The Statistics:

As of close of business: 9/17/2018

Gold Warehouse Stocks:

8,270,816.984

-60,956.706

Silver Warehouse Stocks:

293,784,832.882

+447,080.145

 

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

742.527

23,872,975

US$28,647m

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$5,328m

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$5,886m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$430m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.72: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,418.84: No change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) drill results, Alamos Gold’s (AGI) VP appointment, Golden Star’s (GSS) Special Meeting results, Eldorado Gold’s (EGO) Application for Payment, Silver Bear’s (SBR.TO) amended facilities agreement, and Excellon’s (EXN.TO) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +6.79% $1.73

2.  Buenaventura

BVN +2.35% $12.61

3.  Freeport

FCX +2.11% $14.01

 

LOSERS

1.  IAMGOLD

IAG -2.58% $3.77

2.  New Gold

NGD -1.83% $1.07

3.  Fortuna

FSM -1.82% $4.32

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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