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Gold Seeker Closing Report: Gold and Silver Gain While Stocks Drop Roughly 4%
By: Chris Mullen, Gold Seeker Report

 -- Published: Thursday, 8 February 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold dropped $8 to $1307.30 in London before it bounced back to $1316.90 at about 9:30AM EST and then fell back to $1312.70 in the next hour of trade, but it then climbed to a new session high of $1321.90 by early afternoon and ended with a gain of 0.14%. Silver rose to as high as $16.467 and ended with a gain of 0.31%.


Euro gold rose to about €1076, platinum lost $9 to $969, and copper fell 2 cents to about $3.08.


Gold and silver equities fell almost 1% in the first hour of trade before they chopped back higher at times, but they then edged back lower into the close and ended near their lows of the day.


The Economy:


U.S. Jobless Claims Decline, Approach an Almost 45-Year Low  Bloomberg

Fed is 'a long way away' from having to raise interest rates due to wage pressure: Kashkari  MarketWatch

Congress expected to vote on budget to avert government shutdown  Reuters


Tomorrow brings Wholesale Trade Inventories.


The Markets:


Oil fell another 1% on news of record high US crude output and the reopening of the North Sea’s largest crude pipeline.


The U.S. dollar index ended slightly lower in mixed trade as the yen rose on safe haven buying.


Treasuries turned down after a disappointing 30-year note auction.


The Dow, Nasdaq, and S&P dropped about 4% on renewed concerns about rising interest rates.


Among the big names making news in the market today were Total, Alibaba, Tesla, Twitter, Teva, New York Times, and GrubHub.


GATA Posts:



Dollar will stay weak if China has its way, Morgan Stanley says

U.S. deliberately keeping dollar low, ECB's Nowotny tells newspaper


The Statistics:

As of close of business: 2/7/2018

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.361 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.


The Miners:



1.  B2Gold

BTG +2.89% $2.85

2.  Pretivm

PVG +2.68% $6.89

3.  Great Panther

GPL +2.52% $1.22



1.  Northern Dynasty

NAK -5.93% $1.11

2.  Freeport

FCX -3.92% $17.16

3.  Sibanye-Stillwater

SBGL -3.76% $4.09

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.


Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.


- 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 is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.


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