• Gold: 1,229.70 4.28
  • Silver: 14.73 0.05
  • Euro: 1.158 0.001
  • USDX: 95.01 -0.024
  • Oil: 71.26 -0.36

October 8: Gold and Silver Fall but Miners Bounce Back to Gains

Chris Mullen
|
Monday, October 8th

 

Close

Gain/Loss

Gold

$1188.90

-$14.20

Silver

$14.39

-$0.24

XAU

65.93

+0.67%

HUI

143.84

+0.28%

GDM

520.67

+0.32%

JSE Gold

1032.62

-11.18

USD

95.72

+0.10

Euro

114.94

-0.31

Yen

88.50

+0.58

Oil

$74.29

-$0.05

10-Year

3.230%

-0.009

T-Bond

136.9375

-0.34375

Dow

26486.78

+0.15%

Nasdaq

7735.95

-0.67%

S&P

2884.43

-0.04%

 
http://www.goldseek.com/news/2018/2018-10-08_14-04-34.jpg

 

The Metals:

 

Gold fell $19.40 to $1183.70 by late morning in New York before it bounced back higher in afternoon trade, but it still ended with a loss of 1.18%. Silver slipped to as low as $14.269 and ended with a loss of 1.64%.

 

Euro gold fell to about €1034, platinum lost $3 to $818, and copper climbed a penny to about $2.76.

 

Gold and silver equities fell over 2% in the first 75 minutes of trade, but they then climbed back higher throughout the rest of the day and ended with modest gains on the day.

 

The Economy:

 

UK, EU play game of chicken in Brexit countdown  Reuters

Third-quarter earnings from the big banks may not light a fire under stocks  MarketWatch

China says it's not afraid of a trade war with the US — its actions show otherwise  CNBC

 

Tomorrow brings the NFIB small-business index and fedspeak.

 

The Markets:

 

Oil edged lower on talk of some leeway with regard to upcoming Iranian sanctions.

 

The U.S. dollar index saw modest gains on the continued outlook for rising rates that held the Dow, Nasdaq, and S&P lower for most of the day. The bond market was closed for Columbus Day.

 

Among the big names making news in the market today were Square, Microsoft, Conagra, and Google.

 

GATA Posts:

 

 

John D. Mueller: To bring back U.S. manufacturing, get the world to dump the dollar

South Africa's 3 largest gold miners lost $543 million altogether last year ...

New member of Mexican central bank's board wants transparency

There's gold in them Yukon hills, mineral exploration companies say

In Perth, Eric Sprott scorns gold forecasters and paper gold and silver

India considers barter for oil and currency swaps for China trade

 

The Statistics:

As of close of business: 10/5/2018

Gold Warehouse Stocks:

8,160,889.574

-

Silver Warehouse Stocks:

288,373,698.220

+172,212.511

 

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

730.165

23,475,549

US$27,852m

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$5,266m

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$5,815m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$426m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.472 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.82: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,372.26: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) Malian government approval and Acacia’s (ACA.L) third-quarter production were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Silvercorp

SVM +4.78% $2.41

2.  Harmony

HMY +3.59% $1.73

3.  Gold Standard

GSV +3.43% $1.81

 

LOSERS

1.  EMX Royalty

EMX -5.26% $1.26

2.  DRDGOLD

DRD -3.61% $2.40

3.  NovaGold

NG -1.50% $3.94

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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