• Gold: 1,221.19 -0.69
  • Silver: 14.37 -0.04
  • Euro: 1.141 -0.001
  • USDX: 96.465 -0.521
  • Oil: 57.08 0.29

October 11: Gold and Silver Jump 2% Higher While Stocks Fall Further

Chris Mullen
|
Thursday, October 11th

 

Close

Gain/Loss

Gold

$1222.70

+$29.60

Silver

$14.55

+$0.25

XAU

69.97

+6.80%

HUI

154.20

+7.40%

GDM

550.29

+6.40%

JSE Gold

1155.96

+107.41

USD

95.02

-0.52

Euro

115.98

+0.75

Yen

89.21

+0.27

Oil

$70.97

-$2.20

10-Year

3.144%

-0.050

T-Bond

138.71875

+1.46875

Dow

25052.83

-2.13%

Nasdaq

7329.06

-1.25%

S&P

2728.37

-2.06%

 
http://www.goldseek.com/news/2018/2018-10-11_14-05-40.jpg

 

The Metals:

 

Gold held near unchanged for most of the day in Asia, but it then began a steady advance in London, accelerated higher in New York, and ended near its late session high of $1226.10 with a gain of 2.48%. Silver surged to as high as $14.621 and ended with a gain of 1.75%.

 

Euro gold rose above €1054, platinum lost $2 to $820, and copper climbed 2 cents to about $2.77.

 

Gold and silver equities rose throughout the day and ended roughly 7% higher.

 

The Economy:

 

Trump says the Federal Reserve caused the stock market correction, but he won't fire Chair Powell  CNBC

White House adviser Kudlow says Fed remains independent: CNBC  Reuters

Trump calls 'loco' Federal Reserve 'too aggressive': Fox interview  Reuters

U.S. inflation slows in September, weekly jobless claims rise  Reuters

 

Tomorrow brings Import prices and Consumer sentiment.

 

The Markets:

 

Oil lost 3%, the U.S. dollar index dropped, and treasuries rose while the Dow, Nasdaq, and S&P fell markedly at times on an acceleration of yesterday’s risk-off trade.

 

Among the big names making news in the market today were Square, Bayer, Walgreens, and Tesla.

 

GATA Posts:

 

 

Signs suggest China may tolerate yuan's weakening past 7 per dollar

 

The Statistics:

As of close of business: 10/10/2018

Gold Warehouse Stocks:

8,139,361.735

+3,668.761

Silver Warehouse Stocks:

288,075,010.122

+153,154.936

 

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

738.994

23,759,400

US$28,630m

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$5,420m

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$5,974m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.829 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.64: -0.90 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,354.73: No change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) third quarter production, Barrick’s (ABX) third quarter production, Fortuna’s (FSM) third quarter production and rainfall event, and Endeavour Silver’s (EXK) third quarter production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +15.91% $2.04

2.  Sibanye

SBGL +13.67% $3.16

3.  AngloGold

AU +9.75% $9.68

 

LOSER

1.  Fortuna

FSM -2.58% $4.15

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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