• Gold: 1,196.16 -11.09
  • Silver: 14.26 -0.05
  • Euro: 1.174 -0.003
  • USDX: 94.253 0.341
  • Oil: 70.85 0.6

February 9: Gold and Silver Fall Over 1% on the Week While Stocks Drop Over 5%

Chris Mullen
|
Friday, February 9th

 

Close

Gain/Loss

On Week

Gold

$1314.80

-$2.40

-1.28%

Silver

$16.32

-$0.06

-1.69%

XAU

78.35

-1.90%

-6.59%

HUI

174.55

-2.15%

-7.17%

GDM

596.91

-1.61%

-7.11%

JSE Gold

1131.89

-10.58

-7.89%

USD

90.43

+0.10

+1.42%

Euro

122.38

-0.09

-1.77%

Yen

92.09

+0.14

+1.36%

Oil

$59.20

-$1.95

-9.55%

10-Year

2.855%

+0.026

+0.60%

Bond

143.71875

-0.75

-0.88%

Dow

24190.90

+1.38%

-5.21%

Nasdaq

6874.49

+1.44%

-5.06%

S&P

2619.55

+1.49%

-5.16%

 
http://www.goldseek.com/news/2018/2018-02-09_14-02-05.jpg

 

The Metals:

 

Gold gained $3.20 to $1320.40 in Asia before it chopped back to $1311.50 in late morning New York trade and then bounced back higher at times, but it still ended with a loss of 0.18%. Silver slipped to as low as $16.19 and ended with a loss of 0.37%.

 

Euro gold fell to about €1075, platinum lost $8 to $961, and copper dropped 4 cents to about $3.04.

 

Gold and silver equities fell over 4% by early afternoon, but they then rallied back higher into the close and ended with only about 2% losses on the day.

 

The Economy:

 

U.S. wholesale inventories for December revised higher  Reuters

Trump signs deal to end brief government shutdown, increase U.S. spending  Reuter

The ‘markets stop panicking when the Fed starts panicking’: Bank of America Merrill Lynch  MarketWatch

 

Next week’s economic highlights include the Treasury Budget on Monday, the NFIB Small Business Optimism Index on Tuesday, CPI, Retail Sales, and Business Inventories on Wednesday, Initial Jobless Claims, the Philadelphia Fed, PPI, Empire State Manufacturing, Industrial Production, and the Housing Market Index on Thursday, and Housing Starts, Import and Export Prices, and Consumer Sentiment on Friday.

 

The Markets:

 

Oil fell over 3% after Baker Hughes reported that the number of active U.S. rigs drilling for oil jumped by 26 to 791 this week.

 

The U.S. dollar index edged higher and treasuries closed modestly lower while the Dow, Nasdaq, and S&P swung in a wide range and ended over 1% higher on hopes for more stability next week.

 

Among the big names making news in the market Friday were GE, Qualcomm, CBOE, Expedia, FireEye, Amazon, FedEx, UPS, and Nvidia.

 

The Statistics:

Activity from: 2/8/2018

Gold Warehouse Stocks:

9,281,457.005

-10,713.781

Silver Warehouse Stocks:

250,269,462.412

+155,266.93

 

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

826.314

26,566,822

US$34,944m

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$5,844m

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$6,458m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$473m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.59 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Nevsun

NSU +2.84% $2.17

2.  Freeport

FCX +2.39% $17.57

3.  Newmont

NEM +0.41% $36.76

 

LOSERS

1.  Eldorado

EGO -7.32% $1.14

2.  New Gold

NGD -7.22% $2.57

3.  Great Panther

GPL -6.56% $1.14

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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