• Gold: 1,199.43 -2.32
  • Silver: 13.96 -0.03
  • Euro: 1.128 -0.001
  • USDX: 97.304 0.001
  • Oil: 55.65 0.36

February 2: Gold and Silver Fall Over 1% and 4% on the Week

Chris Mullen
|
Friday, February 2nd

 

Close

Gain/Loss

On Week

Gold

$1331.80

-$18.20

-1.32%

Silver

$16.60

-$0.64

-4.65%

XAU

83.88

-4.25%

-7.12%

HUI

188.03

-4.41%

-7.54%

GDM

642.62

-2.88%

-5.89%

JSE Gold

1228.89

-15.95

-6.41%

USD

89.16

+0.57

+0.07%

Euro

124.59

-0.60

+0.28%

Yen

90.85

-0.59

-1.22%

Oil

$65.45

-$0.35

-1.45%

10-Year

2.838%

+0.059

+6.73%

Bond

145.00

-1.5625

-2.58%

Dow

25520.96

-2.54%

-4.12%

Nasdaq

7240.95

-1.96%

-3.53%

S&P

2762.13

-2.12%

-3.85%

 
http://www.goldseek.com/news/2018/2018-02-02_14-36-47.jpg

 

The Metals:

 

Gold fell $22.50 to as low as $1327.50 in late morning New York trade before it bounced back higher in afternoon trade, but it still ended with a loss of 1.35%. Silver slipped to as low as $16.554 and ended with a loss of 3.71%.

 

Euro gold fell to about €1069, platinum lost $16.50 to $988.50, and copper fell a few cents to about $3.19.

 

Gold and silver equities fell roughly 3% in the first 45 minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

U.S. factory orders post fifth straight monthly increase  Reuters

U.S. Consumer Sentiment Tops Estimates on Jobs and Income  Bloomberg

U.S. hiring accelerates; annual wage growth strongest since 2009  Reuters

U.S. adds 200,000 jobs with wage growth fastest in more than 8 years  MarketWatch

U.S. Added 200,000 Jobs in January; Wages Rise Most Since 2009  Bloomberg

 

Next week’s economic highlights include the ISM non-manufacturing index on Monday, International Trade on Tuesday, Consumer Credit on Wednesday, Initial Jobless Claims on Thursday, and Wholesale Trade on Friday.

 

The Markets:

 

Oil fell as the U.S. dollar index jumped higher and treasuries dropped after this morning’s stronger than expected jobs data sent interest higher and the Dow, Nasdaq, and S&P roughly 2% lower.

 

Among the big names making news in the market Friday were Deutsche Bank, Exxon, Dell and VMware, Amazon, Google, and Apple.

 

GATA Posts:

 

 

Is U.S. waging a 'cold war' to weaken the dollar?

All trapped gold miners in S. Africa rescued unhurt

Nearly a thousand gold miners trapped underground in South Africa

Ted Butler: CFTC's long silver investigation missed what the agency just fined

Russian banks increase gold purchases at record pace

 

The Statistics:

Activity from: 2/1/2018

Gold Warehouse Stocks:

9,265,378.582

+7,523.10

Silver Warehouse Stocks:

246,499,496.630

+238,791.66

 

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

841.353

27,050,351

US$36,271m

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$5,912m

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$6,533m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$478m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.31: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,736.88: No change from yesterday’s data.

 

The Miners:

 

Yamana Gold’s (AUY) fatal accident and Banro’s (BAA) consolidated plan of compromise and reorganization were among the big stories in the gold and silver mining industry making headlines Friday.

 

No “winners” today.

LOSERS

1.  Gold Standard

GSV-12.97% $1.61

2.  Alexco

AXU -10.00% $1.35

3.  Freeport

FCX -7.61% $17.97

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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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