• Gold: 1,201.54 0.08
  • Silver: 14.02 0.01
  • Euro: 1.122 -0.001
  • USDX: 97.642 0.737
  • Oil: 58.82 -1.23

October 30: Gold Dips While Silver Gains

Chris Mullen
|
Tuesday, October 30th

 

Close

Gain/Loss

Gold

$1223.60

-$5.50

Silver

$14.48

+$0.03

XAU

65.44

+1.14%

HUI

145.23

+0.84%

GDM

532.62

+0.49%

JSE Gold

1170.50

+4.49

USD

96.99

+0.38

Euro

113.45

-0.40

Yen

88.65

-0.41

Oil

$66.18

-$0.86

10-Year

3.119%

+0.031

T-Bond

138.84375

-0.50

Dow

24874.64

+1.77%

Nasdaq

7161.65

+1.58%

S&P

2682.63

+1.57%

 
http://www.goldseek.com/news/2018/2018-10-30_14-05-31.jpg

 

The Metals:

 

Gold dropped $9.10 to $1220.00 in London before it chopped back higher in early New York trade, but it still ended with a loss of 0.45%. Silver slipped to as low as $14.375 in London, but it then climbed back higher in New York and ended with a gain of 0.21%.

 

Euro gold fell under €1079, platinum gained $0.50 to $835, and copper lost 5 cents to about $2.67.

 

Gold and silver equities rose roughly 1% at the open before they fell back to about unchanged by midday, but they then rallied back higher in the last two hours of trade and ended near their opening highs.

 

The Economy:

 

Mortgage Rates Are Pushing U.S. Homes Out of Reach  Bloomberg

Americans are the most confident in the economy in 18 years despite stock slump  MarketWatch

Home Price Growth Slows To Lowest Level In A Year: Case Shiller  inman

 

Tomorrow brings ADP employment, the Employment cost index, and Chicago PMI.

 

The Markets:

 

Oil fell over 1% ahead of tomorrow’s supply data.

 

The U.S. dollar index rose as the euro dropped again after worse than expected eurozone GDP numbers.

 

Treasuries edged lower as the Dow, Nasdaq, and S&P gained nearly 2% on decent earnings reports and easing trade tensions.

 

Among the big names making news in the market today were Under Armour, BP, Chesapeake Energy, General Electric, Pfizer, Coca-Cola, and Mastercard.

 

GATA Posts:

 

 

Ronan Manly: LBMA initiative will prevent transparency in London gold market

Divers searching for 'extremely rare' gold coins in 1840 shipwreck off South Carolina

Resource-rich, brains-poor Zimbabwe just can't seem to smarten up

 

The Statistics:

As of close of business: 10/29/2018

Gold Warehouse Stocks:

8,086,667.862

-100.36

Silver Warehouse Stocks:

288,988,735.429

-624,645.137

 

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

754.938

24,272,010

US$29,733m

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$5,433m

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$6,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 5.296 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,217.39: -58.44 change from yesterday’s data.

 

The Miners:

 

Seabridge Gold’s (SA) drill results, Comstock’s (LODE) third quarter results, and Excellon’s (EXN.TO) increased land position were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Yamana

AUY +4.91% $2.35

2.  Harmony

HMY +3.09% $2.00

3.  Freeport

FCX +2.89% $11.41

 

LOSERS

1.  Americas Silver

USAS-4.11% $2.10

2.  Silvercorp

SVM -3.40% $2.27

3.  DRDGOLD

DRD -2.67% $2.55

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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