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Gold Seeker Closing Report: Gold Ends Lower While Silver Edges Up
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 21 February 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold dropped $5.20 to $1325.50 in late Asian trade before it rallied up to $1332.90 in midmorning New York trade and jumped up to a new session high of $1336.10 following the release of today’s fed minutes, but it then fell back off into the close and ended near its late low of $1322.60 with a loss of 0.47%. Silver climbed up to $16.764 before it also fell back off, but it still ended with a gain of 0.06%.


Euro gold fell to about €1078, platinum lost $11 to $987, and copper remained at about $3.20.


Gold and silver equities rose over 2% by a little after 2PM EST, but they then fell back off into the close and ended slightly lower on the day.


The Economy:


Fed policymakers show rising confidence on inflation, economic outlook: minutes  Reuters

Fed Minutes Show Confidence Improving on Growth, Price Outlook  Bloomberg

U.S. existing home sales fall for second straight month  Reuters

Markit manufacturing PMI for Feb (Prelim) 55.9 vs. 55.5 expected  forexlive

Mortgage applications tank, as rising rates make homes less affordable  CNBC


Tomorrow brings Initial Jobless Claims and Leading Indicators.


The Markets:


Oil closed slightly lower ahead of tomorrow’s holiday delayed inventory report.


The U.S. dollar index rose and treasuries fell after traders seemed to realize that today’s somewhat dovish fed minutes did not take into account the more hawkish economic data that was released after the conclusion of January’s meeting.


The Dow, Nasdaq, and S&P erased sizeable midday gains and closed notably lower on concerns about rising interest rates.


Among the big names making news in the market today were Apple, Intel, Broadcom, GM, Tesla, and Walmart.


GATA Posts:



FDIC sues 16 banks alleging LIBOR manipulation in Doral Bank collapse

No wonder gold had to be smashed today


The Statistics:

As of close of business: 2/20/2018

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 added 3.246 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.78: No change from yesterday’s data.


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


The Miners:


Newmont’s (NEM) reserves and resources, Alamos Gold’s (AGI) reserves and resources, Avino’s (ASM) updated mineral resource estimate, and Silver Bull’s (SVBL) drill results were among the big stories in the gold and silver mining industry making headlines today.



1.  Silvercorp

SVM +4.02% $2.59

2.  Fortuna

FSM +2.46% $4.58

3.  Taseko

TGB +1.73% $1.76



1.  Alio Gold

ALO -6.12% $2.76

2.  Pan American

PAAS-4.57% $15.03

3.  Sibanye

SBGL -3.90% $4.43

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

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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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