• Gold: 1,214.14 2.20
  • Silver: 14.19 0.05
  • Euro: 1.131 -0.001
  • USDX: 97.073 0.27
  • Oil: 57.26 1.34

August 16: Gold Edges Lower While Silver Bonces Back

Chris Mullen
|
Thursday, August 16th

 

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%

 
http://www.goldseek.com/news/2018/2018-08-16_14-01-42.jpg

 

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 €1032, 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.

 

The Economy:

 

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® Gold Shares

774.591

24,903,885

US$29,391m

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$5,424m

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$6,007m

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.

 

The Miners:

 

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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