• Gold: 1,201.45 -0.01
  • Silver: 14.02 0.01
  • Euro: 1.122 -0.001
  • USDX: 97.642 0.737
  • Oil: 58.82 -1.23

October 25: Gold and Silver Dip While Stocks Bounce Back

Chris Mullen
|
Thursday, October 25th

 

Close

Gain/Loss

Gold

$1230.30

-$2.30

Silver

$14.62

-$0.05

XAU

64.72

-4.86%

HUI

143.41

-6.05%

GDM

529.19

-4.34%

JSE Gold

1200.51

-9.70

USD

96.63

+0.26

Euro

113.75

-0.23

Yen

89.02

+0.02

Oil

$67.33

+$0.51

10-Year

3.124%

+0.020

T-Bond

138.65625

-0.125

Dow

24984.55

+1.63%

Nasdaq

7318.34

+2.95%

S&P

2705.57

+1.86%

 
http://www.goldseek.com/news/2018/2018-10-25_14-07-36.jpg

 

The Metals:

 

Gold gained $6.50 to $1239.10 in Asia before it dropped back to $1230.40 at about 4AM EST and then bounced back to gains in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.19%. Silver slipped to as low as $14.605 and ended with a loss of 0.34%.

 

Euro gold climbed to €1082, platinum lost $3.50 to $825, and copper remained at about $2.75.

 

Gold and silver equities fell roughly 5% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Pending home sales snap back in September after 4-month losing streak  MarketWatch

U.S. business spending on equipment slowing; goods trade deficit rises  Reuters

Jobless claims rise slightly on effects of Hurricane Michael  MarketWatch

 

Tomorrow brings GDP and Consumer sentiment.

 

The Markets:

 

Oil rose almost 1% on relief over the stock market’s bounce back from notable losses.

 

The U.S. dollar index jumped higher as the euro and pound fell after the ECB’s policy update highlighted political risks and failed to emphasize next year’s expected interest rate hike.

 

Treasuries fell as the Dow, Nasdaq, and S&P cut into yesterday’s losses on mostly better than expected earnings reports.

 

Among the big names making news in the market today were AMD, American Airlines, Comcast, Anheuser-Busch, Tesla, and Twitter.

 

GATA Posts:

 

 

Ted Butler: Why the frantic movement of silver at the Comex?

 

The Statistics:

As of close of business: 10/24/2018

Gold Warehouse Stocks:

8,086,868.222

-804.00

Silver Warehouse Stocks:

290,931,125.976

-609,380.509

 

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

749.642

24,101,733

US$29,656m

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$5,464m

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$6,039m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$441m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.58: +1.19 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,275.83: -40.91 change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) dividend, third quarter results from Goldcorp (GG), Newmont (NEM), New Gold (NGD), and Barrick (ABX), and Almaden’s (AAU) assay results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +5.14% $11.25

2.  DRDGOLD

DRD +0.79% $2.54

 

LOSERS

1.  Goldcorp

GG -18.68% $8.49

2.  McEwen

MUX -7.76% $2.14

3.  Paramount

PZG -7.67% $1.08

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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