September 12: Gold and Silver Gain Almost 1%

Chris Mullen
|
Wednesday, September 12th
 

Close

Gain/Loss

Gold

$1206.00

+$9.80

Silver

$14.24

+$0.12

XAU

64.06

+3.46%

HUI

138.94

+3.56%

GDM

502.32

+2.71%

JSE Gold

997.71

+18.37

USD

94.83

-0.36

Euro

116.28

+0.30

Yen

89.93

+0.28

Oil

$70.37

+$1.12

10-Year

2.965%

-0.014

T-Bond

143.00

+0.25

Dow

25998.92

+0.11%

Nasdaq

7954.23

-0.23%

S&P

2888.92

+0.04%

 
http://www.goldseek.com/news/2018/9-12gsra.jpg

The Metals:

 

Gold chopped between $1192.80 and $1197.50 in Asia, but it then jumped to as high as $1208.50 in New York and ended with a gain of 0.82%. Silver rose to as high as $14.276 and ended with a gain of 0.85%.

 

Euro gold rose above €1037, platinum gained $11 to $799, and copper climbed 6 cents to about $2.66.

 

Gold and silver equities rose roughly 3% by midday and remained near that level into the close.

The Economy:

 

U.S. home refinancing falls to lowest since December 2000: MBA Reuters

Fed's Bullard says labor market has 'some room to run' Reuters

The Fed is trying to finally get back to 'normal' after the crisis CNBC

As Trump embraces more tariffs, U.S. business readies public fight Reuters

 

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

 

The Markets:

 

Oil rose nearly 2% after the Energy Information Administration reported that crude inventories fell 5.3 million barrels, gasoline inventories rose 1.3 million barrels, and distillates rose 6.2 million barrels.

 

The U.S. dollar index fell after signs of progress in trade talks.

 

Treasuries saw slight gains as the Dow, Nasdaq, and S&P traded mixed on concerns about regulatory risks.

 

Among the big names making news in the market today were Discovery, Macy’s, Snap, and Bausch Health.

 

GATA Posts:

 

 

Juncker vows to turn euro into reserve currency to rival dollar

U.S. securities law covers cryptocurrencies, judge rules

Putin says Russia and China will reduce use of dollar in trade

 

The Statistics:

As of close of business: 9/11/2018

Gold Warehouse Stocks:

8,326,629.530

-51,426.986

Silver Warehouse Stocks:

293,226,966.199

-1,804,659.52

 

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

745.176

23,958,156

US$28,641m

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$5,338m

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$5,903m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$432m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.267 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.61: +0.68 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,377.90: No change from yesterday’s data.

 

The Miners:

 

Yamana Gold’s (AUY) foreign exchange hedging program and New Gold’s (NGD) new President and Chief Executive Officer were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Hecla

HL +8.89% $2.94

2. Alamos

AGI +8.10% $4.54

3. Franco-Nevada

FNV +6.5% $62.44

LOSERS

1. DRDGOLD

DRD -3.76% $2.05

2. Americas Silver

USAS -1.38% $2.15

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.