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Gold Seeker Closing Report: Gold Gains While Silver Slips
By: Chris Mullen, Gold Seeker Report

 -- Published: Tuesday, 11 September 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1196.20

+$0.70

Silver

$14.12

-$0.05

XAU

61.92

-0.01%

HUI

134.16

+0.13%

GDM

489.62

-0.21%

JSE Gold

979.34

-30.81

USD

95.19

+0.03

Euro

115.98

+0.01

Yen

89.65

-0.32

Oil

$69.25

+$1.71

10-Year

2.979%

+0.042

T-Bond

142.75

-0.75

Dow

25971.06

+0.44%

Nasdaq

7972.47

+0.61%

S&P

2887.89

+0.37%

 
http://www.goldseek.com/news/2018/2018-09-11_14-01-32.jpg

 

The Metals:

 

Gold edged up to $1197.20 in Asia before it chopped down to $1187.90 in early New York trade, but it then rallied back higher into the close and ended near its late session high of $1197.80 with a gain of 0.06%. Silver slipped to as low as $13.942 before it also bounced back, but it still ended with a loss of 0.35%.

 

Euro gold rose above €1032, platinum gained $6.50 to $788, and copper edged down to $2.60.

 

Gold and silver equities fell over 2% at the open, but they then climbed back higher for most of the rest of trade and ended near unchanged.

 

The Economy:

 

July wholesale inventories revised slightly down  CNBC

U.S. budget deficit widens to fifth-highest ever, CBO reports  MarketWatch

U.S. job openings climb to record 6.9 million  MarketWatch

Small-business owners more optimistic than ever, NFIB credits Trump economic policies  MarketWatch

 

Tomorrow brings PPI and fedspeak.

 

The Markets:

 

Oil rose nearly 3% on worries about Hurricane Florence.

 

The U.S. dollar index remained firm on trade concerns.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose in afternoon trade on renewed strength in tech.

 

Among the big names making news in the market today were Juul, Apple, Sonos, and Ericsson.

 

GATA Posts:

 

 

China seeks advice from Wall Street bankers and Barrick Chairman Thornton

Precious metals derivatives soar, so who ARE those guys?

IMF's former chief economist couldn't be more naive

 

The Statistics:

As of close of business: 9/10/2018

Gold Warehouse Stocks:

8,378,056.516

-707.30

Silver Warehouse Stocks:

295,031,625.719

-1,204,808.24

 

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

745.443

23,966,736

US$28,503m

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$5,300m

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$5,858m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$430m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 263.93: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,377.90: +29.23 change from yesterday’s data.

 

The Miners:

 

IAMGOLD’s (IAG) drill results and Pretivm’s (PVG) amended report were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  NovaGold

NG +2.90% $3.55

2.  Yamana

AUY +2.11% $2.42

3.  Gold Resource

GORO +2.07% $4.94

 

LOSERS

1.  Americas Silver

USAS -2.68% $2.18

2.  Coeur

CDE -2.36% $5.39

3.  Franco-Nevada

FNV -2.10% $58.87

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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 -- Published: Tuesday, 11 September 2018 | E-Mail  | Print  | Source: GoldSeek.com

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