• Gold: 1,240.97 -1.97
  • Silver: 14.69 -0.08
  • Euro: 1.136 -0.000
  • USDX: 97.121 -0.023
  • Oil: 52.39 -0.59

July 26: Gold and Silver Fall Roughly 1%

Chris Mullen
|
Thursday, July 26th

 

Close

Gain/Loss

Gold

$1222.80

-$9.20

Silver

$15.40

-$0.20

XAU

76.96

-2.94%

HUI

166.16

-3.20%

GDM

595.58

-1.38%

JSE Gold

1035.11

+22.22

USD

94.77

+0.58

Euro

116.46

-0.78

Yen

90.04

-0.23

Oil

$69.61

+$0.31

10-Year

2.975%

+0.015

T-Bond

142.65625

-0.75

Dow

25527.07

+0.44%

Nasdaq

7852.18

-1.01%

S&P

2837.44

-0.30%

 
http://www.goldseek.com/news/2018/2018-07-26_14-06-20.jpg

 

The Metals:

 

Gold drifted lower throughout most of world trade and ended near its late session low of $1222.50 with a loss of 0.75%. Silver slipped to as low as $15.389 and ended with a loss of 1.28%.

 

Euro gold remained at about €1050, platinum lost $19 to $823, and copper fell 5 cents to about $2.79.

 

Gold and silver equities dropped throughout trade and ended roughly 3% lower on the day.

 

The Economy:

 

U.S. business spending on equipment strong; trade deficit widens  Reuters

Durable-goods orders fall in May as auto demand slump  MarketWatch

U.S. jobless claims rebound from more than 48-and-a-half-year low  Reuters

 

Tomorrow brings GDP and Consumer sentiment.

 

The Markets:

 

Oil found modest gains after “Saudi Arabia halted crude shipments through a Red Sea waterway after accusing Iran-allied rebels of attacking a pair of tankers.”

 

The U.S. dollar index rose and treasuries fell after “the European Central Bank clung to its easy money policy and signaled no change in its timetable to move away from ultra low rates or end its bond purchase program.”

 

The Dow, Nasdaq, and S&P traded mixed on mostly disappointing earnings reports.

 

Among the big names making news in the market today were Qualcomm, Starbucks, Pinduodauo, SuperValu, Ford, and Facebook.

 

GATA Posts:

 

 

Victor Sperandeo: The rules of the bond game

Alasdair Macleod: Valuing gold in a world awash with dollars

Jim Rickards: Prepare for a Chinese maxi-devaluation

Ex-Deutsche Bank traders charged in expanding spoofing probe

 

The Statistics:

As of close of business: 7/25/2018

Gold Warehouse Stocks:

8,661,381.883

-

Silver Warehouse Stocks:

281,953,795.412

+1,212,046.807

 

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

800.196

25,727,105

US$31,590m

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$5,451m

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$6,025m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.356 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.22: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,211.41: -20.48 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) second quarter results and acquired stake in the Galore Creek Partnership from NovaGold (NG), New Gold’s (NGD) second quarter results, and Coeur’s (CDE) exploration update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eurasian

EMX +2.46% $1.25

2.  Nevsun

NSU +2.20% $3.71

3.  Gold Standard

GSV +1.84% $1.66

 

LOSERS

1.  New Gold

NGD-19.89% $1.45

2.  Coeur

CDE -8.84% $7.32

3.  Hecla

HL -8.22% $3.24

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map