• Gold: 1,203.23 -0.31
  • Silver: 14.23 -0.01
  • Euro: 1.170 0.003
  • USDX: 94.395 -0.142
  • Oil: 71.14 0.16

February 21: Gold Ends Lower While Silver Edges Up

Chris Mullen
|
Wednesday, February 21st

 

Close

Gain/Loss

Gold

$1324.50

-$6.20

Silver

$16.48

+$0.01

XAU

80.51

-0.39%

HUI

178.65

-0.19%

GDM

611.03

-0.78%

JSE Gold

1147.05

-5.55

USD

90.05

+0.34

Euro

122.92

-0.45

Yen

93.03

-0.34

Oil

$61.68

-$0.11

10-Year

2.936%

+0.055

T-Bond

142.6875

-1.1875

Dow

24797.78

-0.67%

Nasdaq

7218.23

-0.22%

S&P

2701.33

-0.55%

 
http://www.goldseek.com/news/2018/2018-02-21_14-00-47.jpg

 

The Metals:

 

Gold dropped $5.20 to $1325.50 in late Asian trade before it rallied up to $1332.90 in midmorning New York trade and jumped up to a new session high of $1336.10 following the release of today’s fed minutes, but it then fell back off into the close and ended near its late low of $1322.60 with a loss of 0.47%. Silver climbed up to $16.764 before it also fell back off, but it still ended with a gain of 0.06%.

 

Euro gold fell to about €1078, platinum lost $11 to $987, and copper remained at about $3.20.

 

Gold and silver equities rose over 2% by a little after 2PM EST, but they then fell back off into the close and ended slightly lower on the day.

 

The Economy:

 

Fed policymakers show rising confidence on inflation, economic outlook: minutes  Reuters

Fed Minutes Show Confidence Improving on Growth, Price Outlook  Bloomberg

U.S. existing home sales fall for second straight month  Reuters

Markit manufacturing PMI for Feb (Prelim) 55.9 vs. 55.5 expected  forexlive

Mortgage applications tank, as rising rates make homes less affordable  CNBC

 

Tomorrow brings Initial Jobless Claims and Leading Indicators.

 

The Markets:

 

Oil closed slightly lower ahead of tomorrow’s holiday delayed inventory report.

 

The U.S. dollar index rose and treasuries fell after traders seemed to realize that today’s somewhat dovish fed minutes did not take into account the more hawkish economic data that was released after the conclusion of January’s meeting.

 

The Dow, Nasdaq, and S&P erased sizeable midday gains and closed notably lower on concerns about rising interest rates.

 

Among the big names making news in the market today were Apple, Intel, Broadcom, GM, Tesla, and Walmart.

 

GATA Posts:

 

 

FDIC sues 16 banks alleging LIBOR manipulation in Doral Bank collapse

No wonder gold had to be smashed today

 

The Statistics:

As of close of business: 2/20/2018

Gold Warehouse Stocks:

9,133,839.223

+31,828.50

Silver Warehouse Stocks:

246,872,981.963

+469,103.145

 

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

827.789

26,614,239

US$35,402m

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$5,899m

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$6,521m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$475m

 Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.246 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.78: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,767.91: No change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) reserves and resources, Alamos Gold’s (AGI) reserves and resources, Avino’s (ASM) updated mineral resource estimate, and Silver Bull’s (SVBL) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Silvercorp

SVM +4.02% $2.59

2.  Fortuna

FSM +2.46% $4.58

3.  Taseko

TGB +1.73% $1.76

 

LOSERS

1.  Alio Gold

ALO -6.12% $2.76

2.  Pan American

PAAS-4.57% $15.03

3.  Sibanye

SBGL -3.90% $4.43

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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