• Gold: 1,211.84 -0.10
  • Silver: 14.17 0.02
  • Euro: 1.130 -0.002
  • USDX: 97.262 0.459
  • Oil: 56.7 0.78

July 11: Gold and Silver Fall Over 1% as Dollar Jumps

Chris Mullen
|
Wednesday, July 11th

 

Close

Gain/Loss

Gold

$1242.20

-$13.30

Silver

$15.80

-$0.26

XAU

80.98

-3.06%

HUI

174.53

-2.88%

GDM

613.40

-2.55%

JSE Gold

1072.36

-5.43

USD

94.74

+0.60

Euro

116.75

-0.72

Yen

89.27

-0.65

Oil

$70.38

-$3.73

10-Year

2.840%

-0.023

T-Bond

145.46875

+0.46875

Dow

24700.45

-0.88%

Nasdaq

7716.61

-0.55%

S&P

2774.02

-0.71%

 
http://www.goldseek.com/news/2018/2018-07-11_14-01-54.jpg

 

The Metals:

 

Gold dropped throughout most of world trade and ended near its last-minute low of $1242.00 with a loss of 1.06%. Silver slipped to as low as $15.78 and ended with a loss of 1.62%.

 

Euro gold fell to about €1064, platinum lost $18 to $827, and copper dropped 8 cents to about $2.74.

 

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

 

The Economy:

 

U.S. May wholesale inventories revised higher  Reuters

Maybe the labor market isn't so tight after all  MarketWatch

Services, motor vehicles lift U.S. producer prices in June  Reuters

 

Tomorrow brings Weekly jobless claims and CPI.

 

The Markets:

 

Oil fell over 5% as the U.S. dollar index rose along with treasuries on renewed trade tensions that sent the Dow, Nasdaq, and S&P almost 1% lower.

 

Among the big names making news in the market today were Papa John’s, Fox, Uber, Credit Suisse, Pfizer, and Tilray.

 

GATA Posts:

 

 

Most South African gold mines are unprofitable but owners, unions, government don't care why

Ed Steer: Dollar 'rally' appeared in nick of time Monday

 

The Statistics:

As of close of business: 7/10/2018

Gold Warehouse Stocks:

8,754,555.481

-

Silver Warehouse Stocks:

279,532,844.187

-12,084.117

 

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

799.018

25,689,236

US$32,144m

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$5,538m

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$6,119m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$446m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.752 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 266.37: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,113.38: No change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) second quarter gold production, Eldorado’s (EGO) Executive Vice President and Chief Financial Officer appointment, and Avino’s (ASM) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  McEwen

MUX +0.90% $2.24

2.  Paramount

PZG +0.82% $1.23


LOSERS

1.  Taseko

TGB -6.36% $1.03

2.  Pan American

PAAS-5.90% $16.76

3.  Hecla

HL -5.79% $3.42

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 2018

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