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Gold Seeker Closing Report: Gold and Silver Fall With Bonds
By: Chris Mullen

 -- Published: Wednesday, 1 August 2018 | Print  | Disqus 



















JSE Gold






























The Metals:


Gold dropped $4.60 to $1220.00 in Asia before it rallied back to unchanged in London and then fell to a new session low of $1216.70 at about 11AM EST, but it then bounced back higher into midafternoon and ended with a loss of just 0.69%. Silver slipped to as low as $15.39 and ended with a loss of 0.9%.


Euro gold fell to about €1043, platinum lost $22 to $815, and copper dropped 10 cents to about $2.73.


Gold and silver equities fell roughly 1% at the open before they chopped back higher at times, but they ultimately ended near their lows of the session.


The Economy:


Fed signals another hike coming soon as it peppers statement with the word ‘strong’  MarketWatch

Construction spending drops in June after upward revision  MarketWatch

U.S. factory activity slows; private payrolls increase  Reuters

U.S. Manufacturing Cools as Gauge of Orders at One-Year Low  Bloomberg

Debt-laden US government is expanding the size of Treasury bond auctions to fund itself  CNBC

Housing demand sees biggest drop in more than 2 years  CNBC

Global factory growth slowing; China-U.S. trade war biting  Reuters

U.S. companies create 219,000 new jobs in July, ADP says  MarketWatch


Tomorrow brings Weekly jobless claims and Factory orders.


The Markets:


Oil fell over 1% after the Energy Information Administration reported that crude inventories rose 3.8 million barrels, gasoline inventories fell 2.5 million barrels, and distillates rose 3.0 million barrels.


The U.S. dollar index traded mostly higher on steady economic data and fedspeak that sent treasuries lower.


The Dow, Nasdaq, and S&P saw decent gains for most of the morning on strong earnings reports, but they then turned mixed on interest rate uncertainty before they fed’s announcement and remained near unchanged after.


Among the big names making news in the market today were Chesapeake Energy, Wells Fargo, Huawei, Pandora, BNP Paribas, BAE, and Apple.


GATA Posts:



Ronan Manly: Spotlight on the HUI and XAU gold stock indexes


The Statistics:

As of close of business: 7/31/2018

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: 262.22: No change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,246.51: No change from yesterday’s data.


The Miners:


Randgold’s (GOLD) corporate tax reduction, McEwen’s (MUX) new President and COO, and Centerra Gold’s (CG.TO) second quarter results were among the big stories in the gold and silver mining industry making headlines today.



1.  Avino

ASM +2.61% $1.18

2.  Sibanye

SBGL +2.38% $2.58

3.  Alexco

AXU +0.84 $1.20



1.  Gold Resource

GORO -18.78% $5.32

2.  Eurasian

EMX -7.25% $1.28

3.  Eldorado

EGO -6.42% $1.02

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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