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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain With Dollar and Oil on the Week While Stocks and Bonds Fall
By: Chris Mullen, Gold Seeker Report

 -- Published: Friday, 5 October 2018 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1203.10

+$3.80

+0.96%

Silver

$14.63

+$0.05

+0.07%

XAU

65.49

-0.66%

+0.48%

HUI

143.43

-0.56%

+1.67%

GDM

518.86

-0.58%

+0.64%

JSE Gold

1043.80

-2.55

+4.77%

USD

95.62

-0.14

+0.49%

Euro

115.25

+0.11

-0.75%

Yen

87.92

+0.06

-0.27%

Oil

$74.34

+$0.01

+1.49%

10-Year

3.239%

+0.049

+6.02%

Bond

137.1875

-0.71875

-2.40%

Dow

26447.05

-0.68%

-0.04%

Nasdaq

7788.44

-1.16%

-3.21%

S&P

2885.57

-0.55%

-0.97%

 
http://www.goldseek.com/news/2018/2018-10-05_14-01-05.jpg

 

The Metals:

 

Gold dipped $2 to $1197.30 in Asia before it climbed up to $1205.80 at about 10AM EST and then drifted back lower into midday, but it then edged back higher in late trade and ended with a gain of 0.32%. Silver chopped between $14.516 and $14.712 and ended with a gain of 0.34%.

 

Euro gold rose above €1044, platinum lost $1 to $821, and copper lost 2 cents to about $2.75.

 

Gold and silver equities jumped roughly 1% higher at the open, but they then fell back off for most of the rest of trade and ended modestly lower on the day.

 

The Economy:

 

Consumer Credit in U.S. Increased More Than Forecast in August  Bloomberg

U.S. job growth cools; unemployment rate falls to 3.7 percent  Reuters

US trade deficit keeps going up despite tariffs  CNBC

 

The Markets:

 

Oil edged higher on continued concerns about Iran.

 

The U.S. dollar index fell after this morning’s disappointing headline jobs number.

 

Treasuries fell on rising inflation fears that sent interest rates higher and the Dow, Nasdaq, and S&P roughly 1% lower.

 

Among the big names making news in the market Friday were Tesla, JP Morgan, Danske, Orchard Therapeutics, and Costco.

 

GATA Posts:

 

 

Gold cascades out of Singapore to poor Cambodia, probably for smuggling into Vietnam

 

The Statistics:

Activity from: 10/4/2018

Gold Warehouse Stocks:

8,160,889.574

-160,750.00

Silver Warehouse Stocks:

288,201,485.709

+1,019,539.848

 

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

731.637

23,522,860

US$28,306m

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$5,337m

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$5,898m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$431m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.82: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,372.26: -40.92 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  NovaGold

NG +2.02% $4.04

2.  Gold Standard

GSV +1.74% $1.75

3.  DRDGOLD

DRD +1.63% $2.49

 

LOSERS

1.  EMX Royalty

EMX -5.67% $1.33

2.  Silvercorp

SVM -3.36% $2.30

3.  Pretivm

PVG -3.21% $8.15

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

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.

 


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 -- Published: Friday, 5 October 2018 | E-Mail  | Print  | Source: GoldSeek.com

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