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Gold Seeker Closing Report: Gold and Silver Edge Lower Again
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 17 October 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1223.80

-$1.10

Silver

$14.63

-$0.03

XAU

69.86

-0.35%

HUI

155.23

-0.06%

GDM

554.76

-0.52%

JSE Gold

1190.39

-23.73

USD

95.58

+0.52

Euro

115.05

-0.76

Yen

89.35

-0.03

Oil

$69.75

-$2.17

10-Year

3.191%

+0.034

T-Bond

137.90625

-0.59375

Dow

25706.68

-0.36%

Nasdaq

7642.70

-0.04%

S&P

2809.21

-0.03%

 
http://www.goldseek.com/news/2018/2018-10-17_14-01-43.jpg

 

The Metals:

 

Gold dipped $4.20 to $1220.70 in Asia before it climbed up to $1229.50 by late morning in New York, but it then fell back off into the close and ended with a loss of 0.09%. Silver slipped to as low as $14.597 and ended with a loss of 0.2%.

 

Euro gold rose above €1063, platinum lost $7 to $836, and copper remained at $2.78.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Every Fed policymaker was on board for September rate hike: minutes  Reuters

Federal Reserve minutes indicate interest rates will have to rise high enough to slow down the economy  MarketWatch

Federal Reserve points to more rate hikes in meeting notes amid criticism from Trump  CNBC

U.S. housing starts, building permits fall in September  Reuters

The Midwest economy is about to get pummeled again  MarketWatch

 

Tomorrow brings Weekly jobless claims, Philly Fed manufacturing, and Leading economic indicators.

 

The Markets:

 

Oil fell 3% after the Energy Information Administration reported that crude inventories rose 6.5 million barrels, gasoline inventories fell 2.0 million barrels, and distillates fell 800,000 barrels.

 

The U.S. dollar index added onto early gains and treasuries fell after the fed’s minutes indicated more rate hikes until economic conditions change.

 

The Dow, Nasdaq, and S&P traded mostly lower on wariness over the fed’s restrictive stance.

 

Among the big names making news in the market today were Danske Bank, Pfizer, Tesla, and Netflix.

 

GATA Posts:

 

 

Hungary boosts gold reserves 10-fold, citing safety concerns

 

The Statistics:

As of close of business: 10/16/2018

Gold Warehouse Stocks:

8,101,421.184

-

Silver Warehouse Stocks:

288,534,574.787

-779,409.508

 

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

748.759

24,073,355

US$29,582m

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$5,449m

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$6,023m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.64: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday’s data.

 

The Miners:

 

Excellon’s (EXN.TO) optioned project and Golden Minerals’ (AUMN) PEA filing were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Silvercorp

SVM +2.17% $2.35

2.  IAMGOLD

IAG +2.06% $3.97

3.  NovaGold

NG +1.92% $4.25

 

LOSERS

1.  Gold Standard

GSV -3.43% $1.69

2.  DRDGOLD

DRD -3.41% $2.55

3.  Gold Resource

GORO-3.08% $5.98

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: Wednesday, 17 October 2018 | E-Mail  | Print  | Source: GoldSeek.com

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