• Gold: 1,185.48 -8.86
  • Silver: 14.78 -0.29
  • Euro: 1.132 -0.003
  • USDX: 96.792 -0.029
  • Oil: 66.38 -0.25

January 24: Gold and Silver Gain Roughly 1% and 3%

Chris Mullen
|
Wednesday, January 24th

 

Close

Gain/Loss

Gold

$1357.70

+$16.70

Silver

$17.56

+$0.51

XAU

92.08

+2.42%

HUI

207.17

+2.19%

GDM

688.77

+2.23%

JSE Gold

1313.95

+48.88

USD

89.25

-0.87

Euro

124.02

+1.04

Yen

91.76

+0.97

Oil

$65.61

$1.14

10-Year

2.652%

+0.006

T-Bond

148.65625

-0.5625

Dow

26252.12

+0.16%

Nasdaq

7415.06

-0.61%

S&P

2837.54

-0.06%

 
http://www.goldseek.com/news/2018/2018-01-24_14-01-11.jpg

 

The Metals:

 

Gold climbed up to $1355.40 in midmorning New York trade before it pared back a bit into midday, but it then jumped to as high as $1361.70 in afternoon trade and ended with a gain of 1.25%. Silver rose to as high as $17.616 and ended with a gain of 2.99%.

 

Euro gold rose to about €1095, platinum gained $9 to $1014, and copper climbed 12 cents to about $3.24.

 

Gold and silver equities rose over 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Existing-home sales fizzle in December as supply hits an 18-year low  MarketWatch

US Nov FHFA house price index 0.4% vs 0.5% expected  forexlive

U.S. mortgage activity hits four-month high despite rising rates: MBA  Reuters

 

Tomorrow brings International Trade in Goods, Initial Jobless Claims, and New Home Sales.

 

The Markets:

 

Oil rose almost 2% more after the Energy Information Administration reported that crude inventories fell 1.1 million barrels, gasoline inventories rose 3.1 million barrels, and distillates rose 600,000 barrels.

 

The U.S. dollar index fell markedly “after Treasury Secretary Steven Mnuchin laid out the benefits of a weaker dollar for the American economy at Davos.”

 

Treasuries dropped on policy uncertainty that also sent the Dow, Nasdaq, and S&P mostly lower.

 

Among the big names making news in the market today were Puma Biotech, Ford, Comcast, Apple, Toys 'R' Us, and GE.

 

GATA Posts:

 

 

Trump team at Davos backs weaker dollar, sharpens trade war talk

Gold-backed cryptocurrency planned by Perth Mint to entice investors back to metals

 

The Statistics:

As of close of business: 1/23/2018

Gold Warehouse Stocks:

9,313,542.543

+96,095.061

Silver Warehouse Stocks:

245,948,894.158

-591,522.251

 

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

849.321

27,306,535

US$36,955m

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$6,006m

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$6,636m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$487m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.656 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 254.44: +0.39 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,736.88: +35.20 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) investment in Royal Road Minerals Limited (RYR.V), IAMGOLD’s (IAG) Scholarship Fund, Nevsun’s (NSU) additions to its operational leadership team, Vista Gold’s (VGZ) updated preliminary feasibility study, and First Majestic’s (AG) offering of convertible senior notes were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  NovaGold

NG +10.25% $4.41

2.  McEwen

MUX +7.73% $2.51

3.  Avino

ASM +6.94% $1.54

 

LOSERS

1.  Gold Resource

GORO-2.41% $4.85

2.  DRDGOLD

DRD -0.62% $3.22

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

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- 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.

Your rating: None Average: 5 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map