• Gold: 1,238.37 0.08
  • Silver: 14.57 -0.01
  • Euro: 1.131 0.000
  • USDX: 97.452 0.308
  • Oil: 51.13 -1.85

October 10: Gold and Miners Gain While Stocks Plummet

Chris Mullen
|
Wednesday, October 10th

 

Close

Gain/Loss

Gold

$1193.10

+$3.00

Silver

$14.30

-$0.10

XAU

65.51

+0.98%

HUI

143.57

+1.57%

GDM

516.73

+0.93%

JSE Gold

1048.55

-17.34

USD

95.54

-0.12

Euro

115.23

+0.27

Yen

88.94

+0.38

Oil

$73.17

-$1.79

10-Year

3.194%

-0.009

T-Bond

137.50

-0.21875

Dow

25598.74

-3.15%

Nasdaq

7422.05

-4.06%

S&P

2785.68

-3.29%

 
http://www.goldseek.com/news/2018/2018-10-10_14-03-48.jpg

 

The Metals:

 

Gold dipped $4.60 to $1185.50 at about 8:30AM EST, but it then rallied back higher for most of the rest of trade and ended near its last-minute high of $1193.60 with a gain of 0.25%. Silver dipped to $14.247 before it also bounced back into the close, but it still ended with a loss of 0.69%.

 

Euro gold climbed to €1036, platinum gained $1 to $822, and copper dropped 5 cents to about $2.75.

 

Gold and silver equities fell nearly 2% in the first 45 minutes of trade, but they then rose to see over 1% gains by midafternoon and remained near that level for the rest of the day.

 

The Economy:

 

U.S. producer prices rebound, wholesale inventories rise  Reuters

Fed's Evans sees more rate hikes but said Trump's questioning of tightening is 'fair'  MarketWatch

 

Tomorrow brings Weekly jobless claims, CPI, and the Federal budget.

 

The Markets:

 

Oil fell over 2% after it became clearer that Hurricane Michael will have little impact on energy infrastructure in the Gulf of Mexico.

 

The U.S. dollar index dropped as the euro and pound rose on renewed optimism about a Brexit deal.

 

Treasuries traded mixed while the Dow, Nasdaq, and S&P plunged roughly 4% on concerns that interest rates are rising too rapidly.

 

Among the big names making news in the market today were CVS, Aetna, Exxon, Sears, and Softbank.

 

GATA Posts:

 

 

Crypto theft hits nearly $1 billion in first nine months, report says

 

The Statistics:

As of close of business: 10/9/2018

Gold Warehouse Stocks:

8,135,692.974

-25,196.60

Silver Warehouse Stocks:

287,921,855.186

-1,049,728.678

 

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$27,891m

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$5,281m

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$5,836m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$428m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 269.54: No change from yesterday’s data.

 

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

 

The Miners:

 

Newmont’s (NEM) collaborative agreement and Coeur’s (CDE) third quarter 2018 production and sales results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Pretivm

PVG +5.37% $7.65

2.  Gold Fields

GFI +4.78% $2.63

3.  AngloGold

AU +3.89% $8.82

 

LOSERS

1.  DRDGOLD

DRD -6.30% $2.23

2.  Silvercorp

SVM -3.48% $2.22

3.  Freeport

FCX -3.11% $12.77

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