• Gold: 1,219.39 -2.49
  • Silver: 14.39 -0.02
  • Euro: 1.140 -0.001
  • USDX: 96.5 0.035
  • Oil: 57.44 0.36

October 31: Gold and Silver Fall Roughly 1% While Stocks Bounce Back Further

Chris Mullen
|
Wednesday, October 31st

 

Close

Gain/Loss

Gold

$1216.90

-$6.70

Silver

$14.28

-$0.20

XAU

64.28

-1.77%

HUI

142.82

-1.66%

GDM

525.44

-1.36%

JSE Gold

1163.80

-6.70

USD

97.01

+0.02

Euro

113.25

-0.20

Yen

88.62

-0.03

Oil

$65.31

-$0.87

10-Year

3.147%

+0.028

T-Bond

138.25

-0.65625

Dow

25115.76

+0.97%

Nasdaq

7305.90

+2.01%

S&P

2711.74

+1.09%

 
http://www.goldseek.com/news/2018/2018-10-31_14-02-18.jpg

 

The Metals:

 

Gold fell $11.50 to $1212.10 by midmorning in New York before it bounced back higher at times, but it still ended with a loss of 0.55%. Silver slipped to as low as $14.249 and ended with a loss of 1.38%.

 

Euro gold fell to about €1074, platinum remained at $835, and copper stayed at $2.67.

 

Gold and silver equities dropped over 2% in the first 45 minutes of trade before they chopped back higher at times, but they still ended about 1.5% lower on the day.

 

The Economy:

 

Fed sets new rules to ease regulations on smaller banks  CNBC

Yellen says rising US deficit unsustainable: 'If I had a magic wand, I would raise taxes'  CNBC

U.S. mortgage applications slip, rates mixed: MBA  Reuters

Chicago PMI falls in October to six-month low  MarketWatch

US: Employment cost index rises 0.8% in Q3 to beat market estimate of 0.7%  fxstreet

Private payrolls rise in October; wages surge in third quarter  Reuters

 

Tomorrow brings Weekly jobless claims, Productivity, Unit labor costs, Markit manufacturing PMI, ISM manufacturing, and Construction spending.

 

The Markets:

 

Oil fell over 1% after the Energy Information Administration reported that crude inventories rose 3.2 million barrels, gasoline inventories fell 3.2 million barrels, and distillates fell 4.1 million barrels.

 

The U.S. dollar index waffled near unchanged and ended slightly higher ahead of the closing days of a heavy economic week.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose as much as 2% on strong earnings reports.

 

Among the big names making news in the market today were Sprint, Hess, Facebook, and GM.

 

GATA Posts:

 

 

Dollars declined as India plans to pay in rubles for Russian air-defense system

GATA board member Steer explains how futures control monetary metals prices

 

The Statistics:

As of close of business: 10/30/2018

Gold Warehouse Stocks:

8,066,489.712

-20,178.15

Silver Warehouse Stocks:

290,258,453.115

+1,269,717.686

 

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

754.938

24,272,010

US$29,733m

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$5,390m

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$5,964m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$436m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,217.39: No change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) permitting update, Centerra Gold’s (CG.TO) third quarter results, Silver Bull’s (SVBL) updated resource, Endeavour Silver’s (EXK) third quarter results, and Golden Minerals’ (AUMN) assay results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  EMX Royalty

EMX +5.51% $1.34

2.  Turquoise

TRQ $4.27% $1.71

3.  Paramount

PZG +2.88% $1.07

 

LOSERS

1.  Gold Resource

GORO-17.52% $4.33

2.  Harmony

HMY -8.00% $1.84

3.  McEwen

MUX -7.98% $1.96

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