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Gold Seeker Closing Report: Gold and Silver Fall but Miners Bounce Back to Gains
By: Chris Mullen, Gold Seeker Report

 -- Published: Monday, 8 October 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold fell $19.40 to $1183.70 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.18%. Silver slipped to as low as $14.269 and ended with a loss of 1.64%.


Euro gold fell to about €1034, platinum lost $3 to $818, and copper climbed a penny to about $2.76.


Gold and silver equities fell over 2% in the first 75 minutes of trade, but they then climbed back higher throughout the rest of the day and ended with modest gains on the day.


The Economy:


UK, EU play game of chicken in Brexit countdown  Reuters

Third-quarter earnings from the big banks may not light a fire under stocks  MarketWatch

China says it's not afraid of a trade war with the US — its actions show otherwise  CNBC


Tomorrow brings the NFIB small-business index and fedspeak.


The Markets:


Oil edged lower on talk of some leeway with regard to upcoming Iranian sanctions.


The U.S. dollar index saw modest gains on the continued outlook for rising rates that held the Dow, Nasdaq, and S&P lower for most of the day. The bond market was closed for Columbus Day.


Among the big names making news in the market today were Square, Microsoft, Conagra, and Google.


GATA Posts:



John D. Mueller: To bring back U.S. manufacturing, get the world to dump the dollar

South Africa's 3 largest gold miners lost $543 million altogether last year ...

New member of Mexican central bank's board wants transparency

There's gold in them Yukon hills, mineral exploration companies say

In Perth, Eric Sprott scorns gold forecasters and paper gold and silver

India considers barter for oil and currency swaps for China trade


The Statistics:

As of close of business: 10/5/2018

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 1.472 tonnes.


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: No change from yesterday’s data.


The Miners:


Randgold’s (GOLD) Malian government approval and Acacia’s (ACA.L) third-quarter production were among the big stories in the gold and silver mining industry making headlines today.



1.  Silvercorp

SVM +4.78% $2.41

2.  Harmony

HMY +3.59% $1.73

3.  Gold Standard

GSV +3.43% $1.81



1.  EMX Royalty

EMX -5.26% $1.26


DRD -3.61% $2.40

3.  NovaGold

NG -1.50% $3.94

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

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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