• Gold: 1,259.24 3.44
  • Silver: 16.12 0.08
  • Euro: 1.179 0.004
  • USDX: 93.699 -0.233
  • Oil: 57.58 0.32

October 20: Gold and Silver Fall About 2% on the Week

Chris Mullen
|
Friday, October 20th

 

Close

Gain/Loss

On Week

Gold

$1280.00

-$8.00

-1.81%

Silver

$17.03

-$0.20

-2.07%

XAU

85.01

-0.60%

-2.61%

HUI

197.53

-0.77%

-2.58%

GDM

644.91

-0.86%

-2.59%

JSE Gold

1332.00

+2.56

+2.80%

USD

93.73

+0.52

+0.69%

Euro

117.69

-0.78

-0.42%

Yen

88.18

-0.69

-1.34%

Oil

$51.47

+$0.18

+0.04%

10-Year

2.383%

+0.061

+4.52%

Bond

152.09375

-1.4375

-1.24%

Dow

23328.63

+0.71%

+2.00%

Nasdaq

6629.05

+0.36%

+0.35%

S&P

2575.21

+0.51%

+0.86%

 
http://www.goldseek.com/news/2017/2017-10-20_14-01-02.jpg

 

The Metals:

 

Gold drifted lower throughout most of world trade and ended near its early afternoon New York low of $1278.00 with a loss of 0.62%. Silver slipped to as low as $16.946 and ended with a loss of 1.16%.

 

Euro gold fell to about €1087, platinum remained at $921, ad copper stayed at $3.15.

 

Gold and silver equities fell almost 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

U.S. ends fiscal 2017 with $666 billion budget deficit  MarketWatch

U.S. existing home sales unexpectedly rebound in September  Reuters

Senate Republicans push through budget proposal, clearing path to tax overhaul  MarketWatch

 

Tonight at 7:30PM EST:

 

“Federal Reserve Chair Janet Yellen to deliver a lecture on "Monetary Policy Since the Financial Crisis" at the NEC Herbert Stein Memorial Lecture and Annual Members Dinner in Washington, with audience Q&A.”

 

Next week’s economic highlights include Durable Goods Orders, the FHFA House Price Index, and New Home Sales on Wednesday, Initial Jobless Claims, International Trade in Goods, and Pending Home Sales Index on Thursday, and GDP and Consumer Sentiment on Friday.

 

The Markets:

 

Oil edged higher on lingering geopolitical concerns.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P climbed to new highs after the Senate approved a budget proposal for tax cuts.

 

Among the big names making news in the market Friday were Honeywell, Noble Group, XPO Logistics, P&G, McDonald's, and GE.

 

GATA Posts:

 

 

Barclays sued by fund for $850 million in metals market abuse

 

The Statistics:

Activity from: 10/19/2017

Gold Warehouse Stocks:

8,511,328.736

-514.40

Silver Warehouse Stocks:

221,875,753.221

+1,547,898.212

 

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

853.132

27,429,045

US$35,134m

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$5,689m

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$6,278m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 230.37: +1.50 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,994.39: -29.38 change from yesterday’s data.

 

The Miners:

 

Rio Tinto’s (RIO) talks with Indonesia and Acacia’s (ACA.L) ability to make a $300 million payment to the Tanzanian government were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  New Gold

NGD +2.24% $3.65

2.  Wheaton

WPM +1.26% $20.91

3.  Northern Dynasty

NAK +0.99% $2.05

 

LOSERS

1.  Alexco

AXU -5.04% $1.32

2.  B2GOLD

BTG -4.49% $2.55

3.  Paramount

PZG -3.82% $1.26

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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