• Gold: 1,184.26 0.07
  • Silver: 14.79 -0.02
  • Euro: 1.144 -0.001
  • USDX: 96.101 -0.463
  • Oil: 65.11 -0.8

July 19: Gold and Silver Fall with Stocks

Chris Mullen
|
Thursday, July 19th

 

Close

Gain/Loss

Gold

$1222.90

-$4.90

Silver

$15.32

-$0.23

XAU

79.00

-1.46%

HUI

170.63

-0.89%

GDM

601.61

-0.96%

JSE Gold

1001.98

-8.33

USD

95.22

+0.13

Euro

116.41

-0.08

Yen

89.00

+0.26

Oil

$69.46

+$0.70

10-Year

2.839%

-0.044

T-Bond

145.34375

+0.625

Dow

25064.50

-0.53%

Nasdaq

7825.30

-0.37%

S&P

2804.49

-0.40%

 
http://www.goldseek.com/news/2018/2018-07-19_14-10-05.jpg

 

The Metals:

 

Gold dropped $16 to $1211.80 in London before it spiked up to $1228.70 in early afternoon New York trade after Trump said he’s “not happy” about the Fed raising interest rates, but it then chopped back lower into the close and ended with a loss of 0.4%. Silver slipped to as low as $15.177 and ended with a loss of 1.48%.

 

Euro gold fell back under €1051, platinum lost $10.50 to $804.50, and copper dropped 6 cents to about $2.70.

 

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

 

The Economy:

 

Trump says he’s ‘not happy’ with Fed raising interest rates  MarketWatch

Trump lays into the Fed, says he's 'not thrilled' about interest rate hikes  CNBC

Leading indicators up slightly more than expected in June  CNBC

Mortgage rates tick down, but can borrowers seize the opportunity?  MarketWatch

Philly Fed Index Rebounds More Than Expected In July  Nasdaq

U.S. weekly jobless claims drop to more than 48-and-a-half-year low  Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Oil gained 1% “on the heels of news that Saudi Arabia’s OPEC governor expects the kingdom’s crude exports to fall next month in an effort to avoid oversupplying the market.”

 

The U.S. dollar index initially erased all of its significant early advance after Trump’s fed comments, but it then bounced back higher into the close and ended slightly higher on the day.

 

Treasuries jumped higher on Trump’s dovish fed thoughts.

 

The Dow, Nasdaq, and S&P fell on disappointing earnings reports and trade concerns.

 

Among the big names making news in the market today were Wells Fargo, IBM, eBay, Tilray, Comcast, and AbbVie.

 

GATA Posts:

 

 

Venezuela refining gold in Turkey to avoid sanctions

Moscow mystery: Where did all its Treasuries go?

 

The Statistics:

As of close of business: 7/18/2018

Gold Warehouse Stocks:

8,661,381.883

+3,279.402

Silver Warehouse Stocks:

279,954,224.592

-61,821.024

 

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$31,075m

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$5,405m

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$5,973m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 263.38: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,164.59: No change from yesterday’s data.

 

The Miners:

 

Comstock’s (LODE) resource development and Paramount Gold’s (PZG) approval were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  NovaGold

NG +4.14% $4.53

2.  Gold Standard

GSV +3.25% $1.59

3.  Seabridge

SA +2.56% $12.00

 

LOSERS

1.  Freeport

FCX -7.49% $15.80

2.  Hecla

HL -6.09% $3.24

3.  Americas Silver

USAS -4.69% $2.64

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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