-- Published: Wednesday, 1 August 2018 | Print | Disqus
| Close | Gain/Loss |
Gold | $1216.10 | -$8.50 |
Silver | $15.39 | -$0.14 |
XAU | 75.87 | -1.85% |
HUI | 164.46 | -1.15% |
GDM | 589.15 | -0.71% |
JSE Gold | 1067.54 | +8.62 |
USD | 94.65 | +0.13 |
Euro | 116.62 | -0.35 |
Yen | 89.56 | +0.04 |
Oil | $67.66 | -$1.10 |
10-Year | 3.005% | +0.047 |
T-Bond | 142.125 | -0.84375 |
Dow | 25333.82 | -0.32% |
Nasdaq | 7707.29 | +0.46% |
S&P | 2813.36 | -0.10% |
The Metals:
Gold dropped $4.60 to $1220.00 in Asia before it rallied back to unchanged in London and then fell to a new session low of $1216.70 at about 11AM EST, but it then bounced back higher into midafternoon and ended with a loss of just 0.69%. Silver slipped to as low as $15.39 and ended with a loss of 0.9%.
Euro gold fell to about €1043, platinum lost $22 to $815, and copper dropped 10 cents to about $2.73.
Gold and silver equities fell roughly 1% at the open before they chopped back higher at times, but they ultimately ended near their lows of the session.
The Economy:
Fed signals another hike coming soon as it peppers statement with the word ‘strong’ MarketWatch
Construction spending drops in June after upward revision MarketWatch
U.S. factory activity slows; private payrolls increase Reuters
U.S. Manufacturing Cools as Gauge of Orders at One-Year Low Bloomberg
Debt-laden US government is expanding the size of Treasury bond auctions to fund itself CNBC
Housing demand sees biggest drop in more than 2 years CNBC
Global factory growth slowing; China-U.S. trade war biting Reuters
U.S. companies create 219,000 new jobs in July, ADP says MarketWatch
Tomorrow brings Weekly jobless claims and Factory orders.
The Markets:
Oil fell over 1% after the Energy Information Administration reported that crude inventories rose 3.8 million barrels, gasoline inventories fell 2.5 million barrels, and distillates rose 3.0 million barrels.
The U.S. dollar index traded mostly higher on steady economic data and fedspeak that sent treasuries lower.
The Dow, Nasdaq, and S&P saw decent gains for most of the morning on strong earnings reports, but they then turned mixed on interest rate uncertainty before they fed’s announcement and remained near unchanged after.
Among the big names making news in the market today were Chesapeake Energy, Wells Fargo, Huawei, Pandora, BNP Paribas, BAE, and Apple.
GATA Posts:
Ronan Manly: Spotlight on the HUI and XAU gold stock indexes
The Statistics:
As of close of business: 7/31/2018
Gold Warehouse Stocks: | 8,646,495.244 | -14,693.74 |
Silver Warehouse Stocks: | 283,668,806.163 | -1,111,078.66 |
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 | 800.196 | 25,727,105 | US$31,350m |
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$5,424m |
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$6,007m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$437m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.22: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,246.51: No change from yesterday’s data.
The Miners:
Randgold’s (GOLD) corporate tax reduction, McEwen’s (MUX) new President and COO, and Centerra Gold’s (CG.TO) second quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Avino | ASM +2.61% $1.18 |
2. Sibanye | SBGL +2.38% $2.58 |
3. Alexco | AXU +0.84 $1.20 |
LOSERS
1. Gold Resource | GORO -18.78% $5.32 |
2. Eurasian | EMX -7.25% $1.28 |
3. Eldorado | EGO -6.42% $1.02 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today’s Gold Seeker Report can be found:
© Gold Seeker 2018
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com 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. Gold-Seeker.com 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 Gold-Seeker.com’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.
| Digg This Article
-- Published: Wednesday, 1 August 2018 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall With Bonds
