• Gold: 1,298.52 -1.59
  • Silver: 16.47 -0.03
  • Euro: 1.168 0.002
  • USDX: 94.164 -0.024
  • Oil: 66.81 -0.88

February 14: Gold and Silver Gain Almost 2%

Chris Mullen
|
Wednesday, February 14th

 

Close

Gain/Loss

Gold

$1352.10

+$22.80

Silver

$16.87

+$0.30

XAU

85.50

+5.49%

HUI

189.40

+4.96%

GDM

641.91

+4.24%

JSE Gold

1173.26

+2.95

USD

88.95

-0.74

Euro

124.58

+1.07

Yen

93.49

+0.71

Oil

$60.60

+$1.41

10-Year

2.911%

+0.082

T-Bond

143.50

-1.0625

Dow

24893.49

+1.03%

Nasdaq

7143.62

+1.86%

S&P

2698.63

+1.34%

 
http://www.goldseek.com/news/2018/2018-02-14_14-02-54.jpg

 

The Metals:

 

Gold gained $7.60 to $1336.90 in Asia before it dropped back down to $1318.50 just after this morning’s inflation data was released, but it then soared back higher for most of the rest of trade and ended near its early afternoon high of $1355.50 with a gain of 1.72%. Silver rose to as high as $16.929 and ended with a gain of 1.81%.

 

Euro gold rose to about €1085, platinum gained $23 to $995, and copper climbed another 7 cents to about $3.24.

 

Gold and silver equities rose roughly 5% by midafternoon and remained near that level into the close.

 

The Economy:

 

CPI, Retail Data Not Pretty But May Overstate U.S. Economic Pain  Bloomberg

Inflation pickup a challenge for Fed chief Powell  Reuters

U.S. business inventories rise more than expected in December  Reuters

CPI surges 0.5% in January, but yearly rate of inflation unchanged  MarketWatch

January retail sales post biggest decline in 11 months  CNBC

U.S. Consumer Prices Rise More Than Forecast on Apparel Costs  Bloomberg

U.S. mortgage applications fall as home loan rates hit four-year high: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, PPI, Empire State Manufacturing, Industrial Production, and the Housing Market Index.

 

The Markets:

 

Oil gained over 2% after the Energy Information Administration reported that crude inventories rose 1.8 million barrels, gasoline inventories rose 3.6 million barrels, and distillates rose 500,000 barrels.

 

The U.S. dollar index fell along with treasuries as the Dow, Nasdaq, and S&P erased opening losses and ended over 1% higher on expectations for the fed to continue to take a gradual approach towards raising interest rates.

 

Among the big names making news in the market today were Fannie Mae, Amazon, Uber, and Bitcoin.

 

GATA Posts:

 

 

Idaho House votes not to tax income from gold and silver sales

 

The Statistics:

As of close of business: 2/13/2018

Gold Warehouse Stocks:

9,108,277.178

-17,079.045

Silver Warehouse Stocks:

252,730,704.512

+1,139,525.85

 

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

823.658

26,481,433

US$35,380m

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$5,989m

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$6,619m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$486m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.951 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.90: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) drill results, Gold Fields’ (GFI) 2017 earnings, and Silvercorp’s (SVM) exploration results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  NOVAGOLD

NG +11.86% $4.15

2.  Harmony

HMY +11.83% $2.08

3.  Alexco

AXU +11.24% $1.44

 

LOSER

1.  Gold Standard

GSV -0.56% $1.76

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

 

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

© Gold Seeker 2018

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