Gold and Silver Fall While Stocks Bounce Back

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 — Published: Tuesday, 31 October 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1270.60

-$5.00

Silver

$16.72

-$0.12

XAU

81.20

-1.42%

HUI

186.14

-1.60%

GDM

624.70

-1.11%

JSE Gold

1376.93

-3.52

USD

94.56

+0.12

Euro

116.51

-0.07

Yen

88.02

-0.45

Oil

$54.38

+$0.23

10-Year

2.376%

+0.008

T-Bond

152.4375

+0.0625

Dow

23377.24

+0.12%

Nasdaq

6727.67

+0.43%

S&P

2575.26

+0.09%

 

http://www.goldseek.com/news/2017/2017-10-31_14-02-52.jpg

 

The Metals:

 

Gold fell $7.70 to $1267.90 in midmorning New York trade before it edged back higher into the close, but it still ended with a loss of 0.39%. Silver slipped to as low as $16.643 and ended with a loss of 0.71%.

 

Euro gold fell to about €1091, platinum remained at $917, and copper dropped a penny to about $3.09.

 

Gold and silver equities fell a little over 1% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Consumer confidence climbs to a nearly 17-year high in October  MarketWatch

Chicago PMI jumps to six-and-a-half-year high in October  MarketWatch

Home-Price Gains in 20 U.S. Cities Showed Acceleration in August  Bloomberg

U.S. employment costs hit nine-year high  MarketWatch

 

Tomorrow brings ADP Employment, PMI Manufacturing, ISM Manufacturing, Construction Spending, and a FOMC Meeting Announcement.

 

The Markets:

 

Oil remained strong on the outlook for an extension to supply cuts.

 

The U.S. dollar index traded mostly slightly higher on mixed economic data that held treasuries near unchanged.

 

The Dow, Nasdaq, and S&P rose on hopes for tax cuts.

 

Among the big names making news in the market today were Under Armour, BP, Mastercard, Pfizer, and Kellogg.

 

GATA Posts:

 

 

So long, cryptos: CME Group plans bitcoin futures

Elaborate fake gold bar sparks investigation by RBC and police

Gold market is moving from West to East, Shanghai exchange chief says

 

The Statistics:

As of close of business: 10/30/2017

Gold Warehouse Stocks:

8,707,177.723

-32.151

Silver Warehouse Stocks:

225,904,006.422

+141,513.065

 

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

850.769

27,353,060

US$34,731m

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$5,639m

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$6,232m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$456m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 234.34: +1.19 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,926.85: +0.76 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Alexco

AXU +10.81% $1.23

2.  Taseko

TGB +4.23% $2.22

3.  Seabridge

SA +2.64% $13.60

 

LOSERS

1.  Eldorado

EGO -8.09% $1.25

2.  New Gold

NGD -6.80% $3.29

3.  Endeavour Silver

EXK -4.15% $2.08

Winners & Losers tracks NYSE and AMEX 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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 — Published: Tuesday, 31 October 2017 | E-Mail  | Print  | Source: GoldSeek.com

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