• Gold: 1,292.47 0.57
  • Silver: 16.55 0.00
  • Euro: 1.176 -0.002
  • USDX: 93.609 -0.068
  • Oil: 72.02 -0.05

April 18: Gold Gains and Silver Surges Over 2%

Chris Mullen
|
Wednesday, April 18th

 

Close

Gain/Loss

Gold

$1348.60

+$1.30

Silver

$17.18

+$0.41

XAU

85.21

+1.19%

HUI

184.34

+0.92%

GDM

643.88

+0.60%

JSE Gold

1093.98

+29.74

USD

89.62

+0.12

Euro

123.78

+0.03

Yen

93.36

-0.27

Oil

$68.47

+$1.95

10-Year

2.877%

+0.037

T-Bond

144.84375

-1.1875

Dow

24748.07

-0.16%

Nasdaq

7295.24

+0.19%

S&P

2708.64

+0.08%

 
http://www.goldseek.com/news/2018/2018-04-18_14-03-21.jpg

 

The Metals:

 

Gold fell $5 to $1342.30 in Asia before it climbed up to $1355.60 in late morning New York trade and then drifted back lower into the close, but it still ended with a gain of 0.1%. Silver rose to as high as $17.256 before it also fell back off, but it still ended with a gain of 2.44%.

 

Euro gold rose to about €1090, platinum gained $3 to $934, and copper climbed 8 cents to about $3.17.

 

Gold and silver equities rose roughly 2% at the open before they fell back off in afternoon trade, but they still ended about 1% higher on the day.

 

The Economy:

 

Fed's Beige Book finds widespread concerns about new and proposed trade tariffs  MarketWatch

Investors Are Getting Worried About an Inverted Yield Curve  Bloomberg

Fed's Dudley warns small banks to rethink risks of higher rates  Reuters

Global debt has reached a record high, IMF says, and three countries are to blame  MarketWatch

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Indicators.

 

The Markets:

 

Oil gained almost 3% after the Energy Information Administration reported that crude inventories fell 1.1 million barrels, gasoline inventories fell 3.0 million barrels, and distillates fell 3.1 million barrels.

 

The U.S. dollar index edged higher as the Canadian dollar slipped after the Bank of Canada left rates unchanged and the pound fell on disappointing inflation data.

 

Treasuries dropped as the Dow, Nasdaq, and S&P traded mostly higher on mixed earnings reports.

 

Among the big names making news in the market today were Morgan Stanley, Nike, Tesla, Southwest Airlines, and IBM.

 

GATA Posts:

 

 

IMF sounds alarm on excessive global borrowing

 

The Statistics:

As of close of business: 4/17/2018

Gold Warehouse Stocks:

9,050,946.220

-803.75

Silver Warehouse Stocks:

261,925,682.009

-1,265,331.47

 

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

865.889

27,839,199

US$37,616m

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$6,000m

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$6,632m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$484m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 283.60: +1.35 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,959.22: No change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) drill results, Turquoise Hill’s (TRQ) first quarter production, and Endeavour Silver’s (EXK) management appointments were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +12.41% $1.54

2.  Taseko

TGB +7.50% $1.29

3.  Sibanye

SBGL +6.23% $3.58

 

LOSERS

1.  Seabridge

SA -0.93% $10.60

2.  Newmont

NEM-0.70% $41.09

3.  Paramount

PZG -0.65% $1.54

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

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