• Gold: 1,287.41 -4.35
  • Silver: 16.49 0.06
  • Euro: 1.177 -0.000
  • USDX: 93.736 0.099
  • Oil: 71.51 0.12

January 16: Gold Ends Higher While Stocks Reverse Lower

Chris Mullen
|
Tuesday, January 16th

 

Close

Gain/Loss

Gold

$1339.30

+$1.30

Silver

$17.21

-$0.03

XAU

90.27

+1.30%

HUI

204.39

+1.52%

GDM

682.72

+1.92%

JSE Gold

1316.17

-51.24

USD

90.43

-0.52

Euro

122.65

+0.59

Yen

90.81

+0.78

Oil

$63.73

-$0.57

10-Year

2.543%

-0.005

T-Bond

150.90625

+0.53125

Dow

25792.86

-0.04%

Nasdaq

7223.69

-0.51%

S&P

2776.42

-0.35%

 
http://www.goldseek.com/news/2018/2018-01-16_14-02-15.jpg

 

The Metals:

 

Gold saw modest gains in holiday thinned trade yesterday before it fell back to $1331.80 in London today, but it then jumped back higher in afternoon New York trade and ended with a gain of 0.1%. Silver slipped to as low as $16.791 and ended with a loss of just 0.17%.

 

Euro gold fell to about €1092, platinum gained $5 to $997, and copper remained at about $3.21.

 

Gold and silver equities waffled near unchanged for most of the morning, but then they climbed steadily higher in the last few hours of trade and ended almost 2% higher on the day.

 

The Economy:

 

U.S. Consumers See Higher Wage Growth, Inflation in Fed Survey  Bloomberg

US January Empire Fed manufacturing index 17.7 vs 19.0 expected  forexlive
Empire State factory gauge declines for third straight month in January  MarketWatch

‘Explosion’ in U.S. Bond Supply Endangers Global Market Rally  Bloomberg

 

Tomorrow brings Industrial Production, the Housing Market Index, and the fed’s Beige Book.

 

 

The Markets:

 

Oil fell almost 1% ahead of this week’s supply data.

 

The U.S. dollar index ended with a notable loss and treasuries rose as the Dow, Nasdaq, and S&P completely erased sizeable gains sees this morning and ended lower on concerns about ongoing Congressional talks to avert a government shutdown Friday.

 

Among the big names making news in the market today were Goldman Sachs, Citigroup, GE, GM, Hugo Boss, BP, Qualcomm, and Merck.

 

GATA Posts:

 

 

China escalates crackdown on cryptocurrency trading

Nine banks accused of rigging key Canada lending rate

Comex's 'exchange for physicals' mystify gold market, Sprott says

Bundesbank will add China's yuan to currency reserves

With real rates staying negative, this may be gold's year, Turk tells KWN

Brandon White: Gold is getting top bank asset status in Canada

Big crypto exchange goes dark and users are getting nervous

Treasury's Mnuchin says there's no need for a digital dollar

 

The Statistics:

As of close of business: 1/12/2018

Gold Warehouse Stocks:

9,228,969.526

-

Silver Warehouse Stocks:

246,485,524.191

-70,301.03

 

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

828.956

26,651,766

US$35,543m

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$5,926m

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$6,549m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$479m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 249.03: +0.69 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,839.55: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) preliminary gold production for the fourth quarter and full year 2017, First Majestic’s (AG) fourth quarter and full year 2017 production results, and Avino’s (ASM) fourth quarter 2017 and full year 2017 production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  First Majestic

AG +8.25% $7.35

2.  Gold Resource

GORO +7.30% $5.00

3.  Goldcorp

GG +7.25% $15.39

 

LOSERS

1.  Tahoe Resources

TAHO-5.48% $4.66

2.  Taseko

TGB +4.90% $1.94

3.  Harmony

HMY -3.28% $1.77

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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