• 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 26: Gold and Silver Gain on the Week While Stocks Drop Nearly 4%

Chris Mullen
|
Friday, October 26th

 

Close

Gain/Loss

On Week

Gold

$1234.00

+$3.70

+0.62%

Silver

$14.70

+$0.08

+0.48%

XAU

65.17

+0.68%

-7.02%

HUI

144.65

+0.86%

-7.03%

GDM

530.73

+0.31%

-5.03%

JSE Gold

1213.58

+13.07

+1.56%

USD

96.35

-0.28

+0.66%

Euro

114.20

+0.45

-0.78%

Yen

89.42

+0.40

+0.34%

Oil

$67.59

+$0.26

-4.82%

10-Year

3.079%

-0.045

-3.66%

Bond

139.375

+0.65625

+1.11%

Dow

24688.31

-1.19%

-2.97%

Nasdaq

7167.21

-2.07%

-3.78%

S&P

2658.69

-1.73%

-3.94%

 
http://www.goldseek.com/news/2018/2018-10-26_14-03-40.jpg

 

The Metals:

 

Gold gained $8.30 to $1238.60 in Asia before it dropped back towards unchanged in London, but it then shot up to as high as $1243.40 in late morning New York trade and ended with a gain of 0.3%. Silver waffled between $14.734 and $14.576 in Asia and London, but it then rose to as high as $14.766 in New York and ended with a gain of 0.55%.

 

Euro gold stayed at €1082, platinum lost $2 to $823, and copper remained at about $2.75.

 

Gold and silver equities rose roughly 3% by late morning, but they then chopped back lower in afternoon trade and ended a little less than 1% higher on the day.

 

The Economy:

 

GDP ‘impressive,’ but investment is a weak spot, economists say  MarketWatch

Consumer sentiment hits 98.6 in Oct., vs. 99 estimate  CNBC

Mortgage rates rise as housing market cracks appear  MarketWatch

 

The Markets:

 

Oil ended slightly higher in mixed trade on lingering concerns about Iran.

 

The U.S. dollar index saw decent gains around 8AM EST, but it then fell back off into the close and ended with a decent loss as the euro turned around on hopes for Brexit progress next week.

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped roughly 2% more on a new round of disappointing earnings reports.

 

Among the big names making news in the market Friday were Mattel, Snap, GM, Amazon, and Alphabet.

 

GATA Posts:

 

 

Traders acquitted of FX rigging that banks admitted

China and Japan sign three-year FX swap deal amid U.S. trade tension

China likely to slow yuan's slide to 7 per dollar, sources tell Reuters

Treasury official points finger at Turkey over Venezuelan gold trade

 

The Statistics:

Activity from: 10/25/2018

Gold Warehouse Stocks:

8,086,868.222

-

Silver Warehouse Stocks:

290,348,558.386

-582,567.59

 

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$29,730m

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$5,506m

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$6,085m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$443m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,275.83: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) output and Excellon’s (EXN.TO) third quarter 2018 production results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Goldcorp

GG +4.12% $8.84

2.  Americas Silver

USAS +3.79% $2.19

3.  Paramount

PZG +3.70% $1.12

 

LOSERS

1.  Yamana

AUY -4.51% $2.33

2.  Coeur

CDE -2.18% $4.93

3.  Buenaventura

BVN-1.98% $13.87

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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