• Gold: 1,184.64 0.45
  • Silver: 14.74 -0.07
  • Euro: 1.144 -0.001
  • USDX: 96.101 -0.463
  • Oil: 65.91 0.52

June 27: Gold and Silver Drop Further

Chris Mullen
|
Wednesday, June 27th

 

Close

Gain/Loss

Gold

$1251.80

-$7.10

Silver

$16.05

-$0.25

XAU

79.93

-0.69%

HUI

170.45

-1.43%

GDM

607.67

-0.74%

JSE Gold

1032.87

+8.41

USD

95.34

+0.63

Euro

115.56

-0.91

Yen

90.79

-0.16

Oil

$72.76

+$2.23

10-Year

2.828%

-0.052

T-Bond

145.21875

+0.96875

Dow

24117.59

-0.68%

Nasdaq

7445.08

-1.54%

S&P

2699.63

-0.86%

 
http://www.goldseek.com/news/2018/2018-06-27_14-05-00.jpg

 

The Metals:

 

Gold edged up to $1259.90 at about 8AM EST, but it then drifted back lower into the close and ended near its late session low of $1250.90 with a loss of 0.56%. Silver slipped to as low as $15.971 and ended with a loss of 1.53%.

 

Euro gold rose above €1083, platinum lost $12 to $853, and copper dropped 2 cents to about $2.98.

 

Gold and silver equities chopped lower throughout trade and ended with about 1% losses on the day.

 

The Economy:

 

Automakers warn U.S. tariffs will cost hundreds of thousands of jobs, hike prices  Reuters

Pending-home sales slide to a 4-month low as supply dries up  MarketWatch

U.S. business spending on equipment softening; trade gap shrinking  Reuters

 

Tomorrow brings Weekly jobless claims and GDP.

 

The Markets:

 

Oil gained over 3% after the Energy Information Administration reported that crude inventories fell 9.9 million barrels, gasoline inventories rose 1.2 million barrels, and distillates were unchanged.

 

The U.S. dollar index climbed higher as the euro fell on Brexit concerns.

 

Treasuries rose as the Dow, Nasdaq, and S&P erased morning gains and ended notably lower on mixed comments about policy surrounding trade tensions with China.

 

Among the big names making news in the market today were Tesla, GE, Lyft, Disney-Fox, and Conagra and Pinnacle Foods.

 

GATA Posts:

 

 

China think tank warns of potential 'financial panic'

 

The Statistics:

As of close of business: 6/26/2018

Gold Warehouse Stocks:

8,792,733.209

-1,480.152

Silver Warehouse Stocks:

275,290,274.536

-106,913.17

 

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

824.634

26,512,800

US$33,253m

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$5,567m

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$6,154m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.42 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.02: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,933.22: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Americas Silver

USAS +6.40% $3.16

2.  Freeport

FCX +4.00% $16.90

3.  Gold Standard

GSV +3.85% $1.35

 

LOSERS

1.  Sibanye

SBGL-10.36%$2.25

2.  Paramount

PZG -4.69% $1.22

3.  Taseko

TGB -4.46% $1.07

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

 

- 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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