• Gold: 1,184.48 0.29
  • Silver: 14.78 -0.03
  • Euro: 1.143 -0.001
  • USDX: 96.101 -0.463
  • Oil: 65.04 -0.87

January 29: Gold and Silver Fall Roughly 1%

Chris Mullen
|
Monday, January 29th

 

Close

Gain/Loss

Gold

$1342.00

-$7.60

Silver

$17.18

-$0.23

XAU

87.47

-3.15%

HUI

195.77

-3.73%

GDM

663.35

-2.82%

JSE Gold

1300.17

-12.92

USD

89.36

+0.26

Euro

123.83

-0.41

Yen

91.91

-0.06

Oil

$65.56

-$0.58

10-Year

2.691%

+0.032

T-Bond

148.15625

-0.59375

Dow

26439.48

-0.67%

Nasdaq

7466.51

-0.52%

S&P

2853.53

-0.67%

 
http://www.goldseek.com/news/2018/2018-01-29_14-02-59.jpg

 

The Metals:

 

Gold fell $11.70 to $1337.90 in late morning New York trade before it bounced back higher in the next few hours, but it still ended with a loss of 0.56%. Silver slipped to as low as $17.116 and ended with a loss of 1.32%.

 

Euro gold fell to about €1084, platinum lost $4 to $1006, and copper remained at about $3.20.

 

Gold and silver equities fell about 3% by midday and remained near that level for the rest of the day.

 

The Economy:

 

NAFTA negotiators still divided, but cite progress in talks  Reuters

Fed to take a step toward a March interest-rate hike  MarketWatch

U.S. Consumer Spending Rose in December, Saving Rate Dipped  Bloomberg

 

Tomorrow brings S&P Corelogic Case-Shiller HPI and Consumer Confidence.

 

The Markets:

 

Oil dropped almost 1% on concerns about rising production in the US.

 

The U.S. dollar index rose and treasuries fell on hawkish ECB commentary that drove interest rates higher and the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were McDonald's, VMware, Apple, and Dr Pepper Snapple and Keurig Green Mountain.

 

GATA Posts:

 

 

Brandon White: Canada's bank regulator already considers gold the ultimate asset

GATA's Ed Steer interviewed in Vancouver on silver price suppression

In reversal, EPA deals setback to controversial gold mining proposal in Alaska

Divers find stash of rare gold coins at site of 1800s wreck off NC coast

Sprott comments on doubletalking U.S. dollar policy, teetering bond market

Coincheck says it lost $400 million in crypto coins

CFTC to fine UBS, Deutsche, HSBC for futures spoofing, manipulation, sources tell Reuters

 

The Statistics:

As of close of business: 1/26/2018

Gold Warehouse Stocks:

9,291,179.101

-22,041.942

Silver Warehouse Stocks:

248,007,937.505

+2,011,090.627

 

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

848.141

27,268,580

US$36,633m

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$5,949m

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$6,570m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$482m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.18 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 257.95: +1.15 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,763.28: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) production guidance, Northern Dynasty’s (NAK) permitting, and First Majestic’s (AG) completed offering were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +0.46% $19.63

 

LOSERS

1.  Northern Dynasty

NAK -21.57% $1.20

2.  Avino

ASM -7.28% $1.40

3.  Hecla

HL -7.26% $3.83

Winners & Losers tracks NYSE 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 2018

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