• Gold: 1,246.96 0.70
  • Silver: 14.66 -0.02
  • Euro: 1.136 0.002
  • USDX: 97.047 -0.031
  • Oil: 47.97 -1.41

October 9: Gold and Silver Edge Higher

Chris Mullen
|
Tuesday, October 9th

 

Close

Gain/Loss

Gold

$1190.10

+$1.20

Silver

$14.40

+$0.01

XAU

64.88

-1.59%

HUI

141.35

-1.73%

GDM

512.32

-1.57%

JSE Gold

1065.89

+33.27

USD

95.66

-0.06

Euro

114.96

+0.02

Yen

88.56

+0.06

Oil

$74.96

+$0.67

10-Year

3.203%

-0.027

T-Bond

137.75

+0.71875

Dow

26430.57

-0.21%

Nasdaq

7738.02

+0.03%

S&P

2880.34

-0.14%

 
http://www.goldseek.com/news/2018/2018-10-09_14-03-57.jpg

 

The Metals:

 

Gold edged up to $1191.80 in Asia before it dropped back to $1183.50 at about 9:45AM EST, but it then chopped back higher into the close and ended with a gain of 0.1%. Silver sloshed between $14.436 and $14.269 and ended with a gain of 0.07%.

 

Euro gold rose above €1035, platinum gained $3 to $821, and copper climbed 4 cents to about $2.80.

 

Gold and silver equities fell over 2% in the first 20 minutes of trade before they rebounded at times, but they still ended roughly 1.5% lower on the day.

 

The Economy:

 

Rising yields suggests 'conflicting factors' over U.S. growth: Fed's Kaplan  Reuters

10-year U.S. Treasury yield pushes back above 3.25% for first time since 2011  MarketWatch

IMF cuts world economic growth forecasts on tariff war, emerging market strains  Reuters

Small-business sentiment retreats from 45-year high, NFIB says  MarketWatch

 

Tomorrow brings PPI and Wholesale inventories.

 

The Markets:

 

Oil rose almost 1% on infrastructure concerns over Hurricane Michael.

 

The U.S. dollar index erased notable early gains and ended lower as the yen edged higher on safe haven demand.

 

Treasuries found decent gains on signs of economic weakness that held the Dow, Nasdaq, and S&P mixed and near unchanged.

 

Among the big names making news in the market today were Google, Microsoft, Chevron, and Affimed.

 

GATA Posts:

 

 

Join GATA in New Orleans in November and you can't lose

Mary Anastasia O'Grady: Why Central America stays poor

 

The Statistics:

As of close of business: 10/8/2018

Gold Warehouse Stocks:

8,160,889.574

-

Silver Warehouse Stocks:

288,971,583.864

+597,885.644

 

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

730.165

23,475,549

US$27,819m

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$5,283m

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$5,840m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$427m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 269.54: +0.72 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: -17.53 change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) production update, Royal Gold’s (RGLD) fiscal update, Buenaventura’s (BVN) third quarter production, and Sandstorm’s (SAND) asset update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +3.60% $2.30

2.  NovaGold

NG +1.27% $3.99

3.  Tahoe Resources

TAHO +0.70% $2.86

 

LOSERS

1.  Pretivm

PVG -9.93% $7.26

2.  Fortuna

FSM -4.74% $4.22

3.  Silvercorp

SVM -4.56% $2.30

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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