• Gold: 1,275.54 0.00
  • Silver: 14.99 0.00
  • Euro: 1.124 -0.000
  • USDX: 97.474 0.07
  • Oil: 64.06 0.19

January 17: Gold and Silver Edge Lower While Stocks Rise on Trade Talk

Chris Mullen
|
Thursday, January 17th

 

Close

Gain/Loss

Gold

$1291.80

-$1.50

Silver

$15.53

-$0.06

XAU

69.53

-0.01%

HUI

153.79

+0.06%

GDM

578.47

+0.31%

JSE Gold

1353.59

+32.94

USD

96.05

-0.02

Euro

113.91

-0.05

Yen

91.77

-0.17

Oil

$52.07

-$0.24

10-Year

2.746%

+0.025

T-Bond

145.1875

-0.28125

Dow

24370.10

+0.67%

Nasdaq

7084.46

+0.71%

S&P

2635.96

+0.76%

 
http://www.goldseek.com/news/2019/2019-01-17_14-07-07.jpg

 

The Metals:

 

Gold chopped between $1291.40 and $1295.00 in Asia before it dipped to $1288.90 by midmorning in New York, but it then bounced back higher into the close and ended with a loss of just 0.12%. Silver slipped to as low as $15.457 and ended with a loss of 0.38%.

 

Euro gold edged down to €1134, platinum gained $5 to $809, and copper climbed 3 cents to abut $2.70.

 

Gold and silver equities traded mostly lower and ended mixed.

 

The Economy:

 

Philadelphia Fed manufacturing index rebounds in January  MarketWatch

Gloomy forecast for Davos: crises aplenty, but few world leaders  Reuters

Trump tariffs force tough choices at U.S. auto suppliers  Reuters

US weekly jobless claims total 213,000, vs 220,000 expected  CNBC

 

Tomorrow brings Industrial production, Capacity utilization, and Consumer sentiment.

 

The Markets:

 

Oil fell 0.5% on concerns over slowing demand.

 

The U.S. dollar index held near unchanged and treasuries fell while the Dow, Nasdaq, and S&P erased early losses and ended nicely higher on speculation over progress in trade talks with China.

 

Among the big names making news in the market today were Deutsche Bank, Signet, Huawei, Morgan Stanley, and Facebook.

 

GATA Posts:

 

 

J.P. Koning: How California stayed with gold when the rest of the U.S. adopted fiat money

 

The Statistics:

As of close of business: 1/16/2019

Gold Warehouse Stocks:

8,408,064.737

-160.75

 

Silver Warehouse Stocks:

292,725,932.695

-432,401.708

 

 

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

797.706

25,647,044

US$33,097m

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$5,737m

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$6,340m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$464m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.49: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,673.34: No change from yesterday’s data.

 

The Miners:

 

Asanko Gold’s (AKG) production results, Paramount’s (PZG) application for a Conditional Use Permit, Great Panther’s (GPL) production and unit cost guidance, Avino’s (ASM) production results, and Fortuna’s (FSM) production results and guidance were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +8.06% $2.95

2.  Gold Fields

GFI +3.62% $3.72

3.  Pretivm

PVG +2.08% $6.86

 

LOSERS

1.  IAMGOLD

IAG -6.23% $3.01

2.  Gold Standard

GSV -5.51% $1.20

3.  DRDGOLD

DRD -3.72% $2.07

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 2019

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