• Gold: 1,184.35 0.16
  • Silver: 14.80 -0.02
  • Euro: 1.144 -0.000
  • USDX: 96.101 -0.463
  • Oil: 65.11 -0.8

July 18: Gold Erases Early Losses to End Unchanged

Chris Mullen
|
Wednesday, July 18th

 

Close

Gain/Loss

Gold

$1227.80

UNCH

Silver

$15.55

-$0.03

XAU

80.17

+0.17%

HUI

172.16

-0.45%

GDM

607.93

-0.04%

JSE Gold

1010.31

-13.85

USD

95.09

+0.14

Euro

116.49

-0.16

Yen

88.74

-0.01

Oil

$68.76

+$0.68

10-Year

2.873%

+0.010

T-Bond

144.8125

-0.21875

Dow

25199.29

+0.32%

Nasdaq

7854.44

-0.01%

S&P

2815.62

+0.22%

 
http://www.goldseek.com/news/2018/2018-07-18_15-13-40.jpg

 

The Metals:

 

Gold fell $6.50 to $1221.30 in late Asian trade before it bounced back higher in London and New York, but it was unable to close with a gain. Silver slipped to as low as $15.394 and ended with a loss of 0.19%.

 

Euro gold climbed above €1054, platinum lost $1 to $815, and copper climbed a couple of cents to about $2.76.

 

Gold and silver equities fell nearly 1% in the first hour of trade before they rallied back to about unchanged by early afternoon, but they still ended mixed on the day.

 

The Economy:

 

Worker shortages, rising costs hemming in a U.S. economy bursting at the seams, Fed's Beige Book finds  MarketWatch

Fed's Powell quizzed again on trade risks by U.S. House  Reuters

U.S. housing starts hit nine-month low; permits drop  Reuters

Wages aren’t growing when adjusted for inflation, new data finds  MarketWatch

Bernanke, Geithner, Paulson warn U.S. has weaker tools for dealing with crisis  MarketWatch

 

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

 

The Markets:

 

Oil gained 1% after the Energy Information Administration reported that crude inventories rose 5.8 million barrels, gasoline inventories fell 3.2 million barrels, and distillates fell 400,000 barrels.

 

The U.S. dollar index erased notable early gains but still managed to close higher on lingering Brexit concerns.

 

Treasuries traded mixed along with the Dow, Nasdaq, and S&P as weak housing data was offset by strong earnings reports.

 

Among the big names making news in the market today were Morgan Stanley, United, Amazon, Microsoft, Sinclair, Target, and Google.

 

GATA Posts:

 

 

Jim Rickards: How the U.S. controls the world financial system to coerce everyone

Palisade Research: Leveraged bullish gold share fund saw 14x spike in volume yesterday

Race for sunk Russian warship's '5,500 boxes of gold'

Russia again dumps U.S. Treasuries amid sanctions

 

The Statistics:

As of close of business: 7/17/2018

Gold Warehouse Stocks:

8,658,102.481

-

Silver Warehouse Stocks:

280,016,045.616

-2,041.742

 

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

794.010

25,528,228

US$31,253m

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$5,445m

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$6,017m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 263.38: -0.96 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,164.59: -33.65 change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) drill results and Avino’s (ASM) second quarter production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eurasian

EMX +9.30% $1.12

2.  McEwen

MUX +4.95% $2.33

3.  Taseko

TGB +4.58% $1.01

 

LOSERS

1.  Sibanye

SBGL -5.88% $2.24

2.  Alamos Gold

AGI -3.02% $5.45

3.  Paramount

PZG -2.14% $1.18

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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