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Gold Seeker Closing Report: Gold Gains While Stocks Struggle Higher
By: Chris Mullen, Gold Seeker Report

 -- Published: Tuesday, 18 December 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold erased early Asian gains and dipped to $1245.10 at about 2AM EST before it rallied up to $1250.30 in London and then fell to see slight losses by midmorning in New York, but it then climbed back higher into the close and ended with a gain of 0.24%. Silver chopped between $14.721 and $14.613 and ended with a loss of 0.2%.


Euro gold rose above €1099, platinum lost $2 to $789, and copper dropped 9 cents to about $2.66.


Gold and silver equities rose over 2% by late morning and remained near that level for the rest of the day.


The Economy:


Trump and Congress barrel toward government shutdown over border wall  CNBC

Chance of recession rises to the highest level of the Trump presidency: CNBC Fed Survey  CNBC

British government to activate full 'no-deal' Brexit preparations  Reuters

U.S. housing starts rise; single-family segment remains weak  Reuters

How the idea of the Fed ‘stockpiling ammunition’ could blow up the economy  MarketWatch

Trump Today: President pushes back on Mueller probe as he lines up new Fed attack  MarketWatch


Tomorrow brings the Current account, Existing home sales, the FOMC’s statement & projections, and Jerome Powell’s press conference.


The Markets:


Oil fell over 7% on renewed concerns about a global supply glut after it was reported that Russia is increasing their output to a new record high.


The U.S. dollar index traded mostly lower and treasuries found decent gains ahead of tomorrow’s potentially pivotal fed announcement.


The Dow, Nasdaq, and S&P rose roughly 1% throughout the morning on upbeat earnings reports, but they then fell back off into the close and only modestly higher on worries about a government shutdown.


Among the big names making news in the market today were Amazon, Nike, Oracle, Darden Restaurants, and Tilray.


GATA Posts:



Will gold and silver miners join the lawsuits against JPMorganChase?


The Statistics:

As of close of business: 12/17/2018

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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 274.66: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 9,884.59: -29.20 change from yesterday’s data.


The Miners:


Seabridge Gold’s (SA) new porphyry target, Eldorado Gold (EGO) 5:1 share consolidation, Barrick’s (ABX) dividend, and Endeavour Silver’s (EXK) mine plan were among the big stories in the gold and silver mining industry making headlines today.



1.  Alamos

AGI +7.84% $3.44

2.  First Majestic

AG +4.77% $5.71

3.  Fortuna

FSM +4.50% $3.48



1.  Americas Silver

USAS -2.90% $1.34

2.  Turquoise

TRQ -1.86% $1.58


DRD -0.96% $2.06

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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