• Gold: 1,249.23 0.82
  • Silver: 14.59 -0.04
  • Euro: 1.143 0.002
  • USDX: 96.514 -0.268
  • Oil: 52.55 0.42

July 23: Gold and Silver Fall with Oil

Chris Mullen
|
Monday, July 23rd

 

Close

Gain/Loss

Gold

$1225.00

-$5.80

Silver

$15.38

-$0.13

XAU

78.11

-1.82%

HUI

168.71

-1.92%

GDM

595.67

-1.58%

JSE Gold

1015.69

+5.26

USD

94.63

+0.20

Euro

116.95

-0.31

Yen

89.82

+0.04

Oil

$67.89

-$0.37

10-Year

2.964%

+0.068

T-Bond

142.90625

-1.28125

Dow

25044.29

-0.06%

Nasdaq

7841.87

+0.28%

S&P

2806.98

+0.18%

 
http://www.goldseek.com/news/2018/2018-07-23_14-11-06.jpg

 

The Metals:

 

Gold fell $8.40 to $1222.40 in early afternoon New York trade before it bounced back higher at times, but it still ended with a loss of 0.47%. Silver slipped to as low as $15.355 and ended with a loss of 0.84%.

 

Euro gold fell under €1048, platinum gained $5 to $831, and copper dropped 2 cents to about $2.73.

 

Gold and silver equities fell roughly 1.5% by midday and remained near that level for the rest of the day.

 

The Economy:

 

U.S. existing home sales fall for third straight month  Reuters

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

Chicago Fed national economic indicator helped by factory-sector snapback  MarketWatch

 

Tomorrow brings Markit data.

 

The Markets:

 

Oil ended lower in mixed trade as traders brushed off renewed rhetoric from President Trump about Iran.

 

The U.S. dollar index rose and treasuries fell “following reports late last week that the Bank of Japan could adjust its monetary policy to make the program more sustainable.”

 

The Dow, Nasdaq, and S&P waffled near unchanged as interest rate concerns were offset by earnings optimism.

 

Among the big names making news in the market today were Papa John’s, Tesla, Halliburton, Fiat Chrysler, and Starbucks.

 

GATA Posts:

 

 

Russian financial analyst expects gold price suppression

New York Sun: Will Trump take on the Fed?

Dollar isn't rising, isn't causing gold's fall, Murphy tells GoldSeek Radio

Venezuelan gold doesn't seem to be returning from Turkey

Barrick is Paulson's bidder for Detour Gold, sources tell Bloomberg

 

The Statistics:

As of close of business: 7/20/2018

Gold Warehouse Stocks:

8,661,381.883

-

Silver Warehouse Stocks:

280,532,785.305

+2,087.25

 

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

798.134

25,660,814

US$31,425m

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$5,442m

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$6,015m

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: 262.22: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,231.89: +43.89 change from yesterday’s data.

 

The Miners:

 

AngloGold’s (AU) comments on South Africa’s gold industry and incoming CEO and Hecla’s (HL) completed acquisition of Klondex were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +7.21% $1.19

2.  Hecla

HL +5.28% $3.39

3.  Americas Silver

USAS +3.53% $2.75

 

LOSERS

1.  Gold Standard

GSV -5.03% $1.51

2.  New Gold

NGD -4.74% $1.81

3.  Barrick

ABX -4.53% $11.81

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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