Gold Seeker Closing Report: Gold Edges Lower While Silver Bonces Back
| Close | Gain/Loss |
Gold | $1173.60 | -$1.20 |
Silver | $14.64 | +$0.22 |
XAU | 64.27 | -2.70% |
HUI | 138.98 | -2.98% |
GDM | 508.94 | -2.22% |
JSE Gold | 946.50 | -4.57 |
USD | 96.62 | -0.09 |
Euro | 113.74 | +0.21 |
Yen | 90.35 | -0.20 |
Oil | $65.46 | +$0.45 |
10-Year | 2.862% | +0.002 |
T-Bond | 144.53125 | -0.21875 |
Dow | 25558.73 | +1.58% |
Nasdaq | 7806.52 | +0.42% |
S&P | 2840.69 | +0.79% |
The Metals:
Gold dropped $14.40 to $1160.40 in early Asian trade before it rose to see a gain of $7.10 at $1181.90 at about 5AM EST, but it then drifted back lower in London and New York and ended with a loss of 0.1%. Silver rose to as high as $14.829 and ended with a gain of 1.53%.
Euro gold fell to about EUR1032, platinum gained $12 to $777, and copper climbed a couple of cents to about $2.60.
Gold and silver equities saw slight gains for most of the morning, but they then fell back off into the close and ended over 2% lower on the day.
Housing starts inch up in July, miss forecast MarketWatch
Philly Fed index sinks in August to lowest reading in 21 months MarketWatch
U.S. jobless claims fall for second straight week Reuters
Mortgage rates tumble as housing starts to drag down the economy MarketWatch
Tomorrow brings Consumer sentiment and Leading economic indicators.
The Markets:
Oil rose almost 1% while the U.S. dollar index traded mostly lower along with treasuries as the Dow, Nasdaq, and S&P jumped roughly 1% higher on renewed optimism that a resolution to a trade dispute with China could be achieved when a fresh round of talks happens later this month.
Among the big names making news in the market today were Tesla, Cisco, Macy's, and Walmart.
GATA Posts:
Dave Kranzler: Metals bashed as in 2008 to hide dangerous weaknesses
The Statistics:
As of close of business: 8/15/2018
Gold Warehouse Stocks: | 8,488,660.477 | -88,457.03 |
Silver Warehouse Stocks: | 287,352,167.875 | +1,149,839.67 |
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(R) Gold Shares | 774.591 | 24,903,885 | US$29,391m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,424m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,007m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$421m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 2.062 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.37: -0.33 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,177.78: No change from yesterday's data.
Gold Field's (GFI) first half results and Gold Reserve's (GDRZF) received payment in Venezuelan government bonds were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Freeport | FCX +0.81% $13.77 |
LOSERS
1. NovaGold | NG -13.71% $3.65 |
2. DRDGOLD | DRD -7.76% $2.02 |
3. Gold Fields | GFI -7.46% $2.48 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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