• Gold: 1,224.01 0.78
  • Silver: 14.43 0.01
  • Euro: 1.145 0.000
  • USDX: 96.174 -0.291
  • Oil: 57.39 0.31

October 18: Gold Gains While Stocks Fall Markedly

Chris Mullen
|
Thursday, October 18th

 

Close

Gain/Loss

Gold

$1225.10

+$1.30

Silver

$14.57

-$0.06

XAU

70.05

+0.28%

HUI

155.48

+0.16%

GDM

556.39

+0.27%

JSE Gold

1198.81

+8.42

USD

95.97

+0.39

Euro

114.59

-0.46

Yen

89.37

+0.02

Oil

$68.65

-$1.10

10-Year

3.182%

-0.009

T-Bond

138.00

+0.09375

Dow

25379.45

-1.27%

Nasdaq

7485.14

-2.06%

S&P

2768.78

-1.44%

 
http://www.goldseek.com/news/2018/2018-10-18_14-02-15.jpg

 

The Metals:

 

Gold dipped $5.10 to $1218.70 in Asia, but it then chopped back higher in London and New York and ended not far from its early afternoon high of $1230.10 with a gain of 0.11%. Silver slipped to $14.455 before it climbed to as high as $14.651 by late morning in New York, but it then drifted back lower in afternoon trade and ended with a loss of 0.41%.

 

Euro gold rose above €1069, platinum lost $15 to $821, and copper fell 5 cents to about $2.73.

 

Gold and silver equities traded mostly higher and ended with modest gains.

 

The Economy:

 

U.S. economy still on a strong growth path, leading indicator find, though dangers lurk  MarketWatch

Philly Fed manufacturing index signals steady growth in October  MarketWatch

Fed's monetary policy 'about right,' no more hikes needed: Bullard  Reuters

Jobless claims drop 5,000 to 210,000 in mid-October, stick near 50-year low  MarketWatch

 

Tomorrow brings Existing home sales.

 

The Markets:

 

Oil fell nearly 2% more in continued reaction to yesterday’s crude inventory build.

 

The U.S. dollar index rose as the euro fell after “the European Commission said Italy’s spending plans are excessive and asked for an explanation, the first step in what threatens to become a full-blown standoff between Brussels and Rome.”

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped roughly 2% on “worries about the U.S.-China trade war, rising interest rates and lingering worries about possible overvalued U.S. tech stocks.”

 

Among the big names making news in the market today were Blackstone, Amgen, Campbell Soup, and Takeda.

 

GATA Posts:

 

 

Zero Hedge: Yuan's correlation with gold price suddenly snaps

Gold price steadies and rises as BIS intervention diminishes

Ex-Deutsche Bank traders guilty in U.S. Libor-rigging trial

 

The Statistics:

As of close of business: 10/17/2018

Gold Warehouse Stocks:

8,101,421.184

-

Silver Warehouse Stocks:

287,839,833.780

-694,741.007

 

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

748.759

24,073,355

US$29,436m

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$5,460m

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$6,029m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.19: +1.55 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday’s data.

 

The Miners:

 

Alio Gold’s (ALO) updated Mineral Resource Estimate, Golden Star’s (GSS) 5:1 consolidation of common shares, and IAMGOLD’s (IAG) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +4.35% $1.20

2.  Harmony

HMY +3.94% $2.11

3.  Barrick

ABX +3.46% $13.16

 

LOSERS

1.  Americas Silver

USAS-6.20% $2.27

2.  Alamos

AGI -6.17% $4.56

3.  Hecla

HL -4.93% $2.89

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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