• Gold: 1,339.62 -1.00
  • Silver: 15.97 -0.03
  • Euro: 1.134 0.000
  • USDX: 96.52 -0.356
  • Oil: 56.42 -0.02

January 16: Gold and Silver Rise with Stocks

Chris Mullen
|
Wednesday, January 16th

 

Close

Gain/Loss

Gold

$1293.30

+$4.10

Silver

$15.59

+$0.02

XAU

69.54

+0.24%

HUI

153.70

+0.41%

GDM

576.19

-0.14

JSE Gold

1320.65

-24.40

USD

96.07

+0.14

Euro

113.96

-0.16

Yen

91.94

-0.42

Oil

$52.31

+$0.20

10-Year

2.721%

+0.003

T-Bond

145.46875

+0.125

Dow

24207.16

+0.59%

Nasdaq

7034.69

+0.15%

S&P

2616.10

+0.22%

 
http://www.goldseek.com/news/2019/2019-01-16_17-25-42.jpg

 

The Metals:

 

Gold edged up to $1292.70 in Asia before it pared back to $1288.00 in London, but it then climbed to a new 6-month high at $1294.90 in New York and ended with a gain of 0.32%. Silver chopped between $15.494 and $15.642 and ended with a gain of 0.13%.

 

Euro gold rose to about €1035, platinum gained $8 to $804, and copper climbed 2 cents to about $2.67.

 

Gold and silver equities saw decent gains by midday, but they then tailed back off into the close and ended mixed.

 

The Economy:

 

Theresa May’s government survives a no-confidence vote after its crushing Brexit defeat  CNBC

U.S. labor market tightens, wages grow moderately: Fed Beige Book  Reuters

Home-builder confidence rebounds as housing market catches a break  MarketWatch

Mortgage applications surge as borrowers take advantage of lower rates  CNBC

U.S. import prices fall; year-on-year drop largest since 2016  Reuters

Search on for Brexit consensus after May's crushing defeat  Reuters

 

Tomorrow brings Weekly jobless claims and the Philly Fed index.

 

The Markets:

 

Oil reversed early losses and ended slightly higher “as a U.S. government report revealed a second straight weekly decline in U.S. crude supplies.”

 

The U.S. dollar index bumped higher and treasuries traded mixed while the Dow, Nasdaq, and S&P rose on positive earnings reports.

 

Among the big names making news in the market today were Airbus, Sears, Snap, Goldman Sachs, Bank of America, and Fiserv.

 

GATA Posts:

 

 

Newmont CEO is unenthusiastic about prospects for gold price

Wary investors drawn to gold's allure

 

The Statistics:

As of close of business: 1/15/2019

Gold Warehouse Stocks:

8,408,225.487

-3,624.24

Silver Warehouse Stocks:

293,158,334.403

+2,050.30

 

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

797.706

25,647,044

US$33,138m

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$5,744m

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$6,351m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$464m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.49: +2.39 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,673.34: -81.73 change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) preliminary production results, B2Gold’s (BTG) record annual gold production, Northern Dynast’s (NAK) preliminary short form base shelf prospectus, and Alio Gold’s (ALO) 2018 gold production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alamos

AGI +4.59% $4.10

2.  Golden Star

GSS +3.44% $3.31

3.  Freeport

FCX +2.77% $11.89

 

LOSERS

1.  IAMGOLD

IAG -10.34% $3.21

2.  Endeavour Silver

EXK -2.88% $2.02

3.  Silvercorp

SVM -2.78% $2.10

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

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2019

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