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Gold Seeker Closing Report: Gold Dips and Silver Slips While Stocks Slide
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 24 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1153.10

-$6.30

Silver

$14.78

-$0.50

XAU

48.08

-7.84%

HUI

116.21

-8.29%

GDM

394.08

-7.48%

JSE Gold

1078.65

+55.72

USD

93.39

-1.55

Euro

115.92

+2.04

Yen

84.28

+2.36

Oil

$38.24

-$2.21

10-Year

1.997%

-0.057

Bond

160.3125

+0.125

Dow

15871.28

-3.58%

Nasdaq

4526.24

-3.82%

S&P

1893.21

-3.94%

 
 

 

The Metals:

 

Gold popped up to $1165.33 at the open of trade last night before it fell back to $1152.36 in Asia and then rose to as high as $1166.94 in early New York trade, but it then dropped back to $1146.13 in afternoon trade and ended with a loss of 0.54%.  Silver slipped to as low as $14.609 and ended with a loss of 3.27%.

 

Euro gold fell to about €995, platinum lost $34 to $987, and copper fell 5 cents to about $2.25.

 

Gold and silver equities dropped as much as 4% at the open before they rallied back to about unchanged by early afternoon, but they then fell back off again in the last few hours of trade and ended with about 8% losses.

 

The Economy:

 

There were no major economic reports today.  Tomorrow brings the Case-Shiller 20-city Index, the FHFA Housing Price Index, New Home Sales, and Consumer Confidence.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell 5.5% and the U.S. dollar dropped about 1.5% as treasuries rose and the Dow, Nasdaq, and S&P closed over 3.5% lower on continued market uncertainty.

 

Stock Rout Spreads Through Europe After China Plunge  Bloomberg

 

Among the big names making news in the market today were Alibaba, Apple, and Southern Co.

 

GATA Posts:

 

 

Dave Kranzler: Gold vs. the U.S. dollar -- the big lie

Deutsche Bank admits that the markets are just rigging by central banks

Koos Jansen: Theory on China's gold strategy

Ben Davies: Another BRIC in the wall

India's imports of gold-silver alloy may almost double, refiner says

China's neighbors step up stock market support

 

The Statistics:

Activity from: 8/21/2015

Gold Warehouse Stocks:

7,310,822.725

-225.05

Silver Warehouse Stocks:

170,209,621.307

-166,674.57

 

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

677.827

21,792,813

US$25,414m

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$5,140m

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$5,688m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$414m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.48

786,914

US$918m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.384 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 161.62: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,107.64: No change from yesterday’s data.

 

The Miners:

 

Eldorado’s (EGO) operations in Greece, AngloGold’s (AU) offer to buy back $810 million of high-yield bonds, and IMPACT Silver’s (IPT.V) second quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  AngloGold

AU +2.09% $8.30

2.  Paramount

PZG +0.79% $1.28

 

LOSERS

1.  Kinross

KGC -12.56% $1.81

2.  Yamana

AUY -10.87% $2.05

3.  Coeur

CDE -10.80% $3.22

Winners & Losers tracks NYSE and AMEX 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 2015

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


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 -- Published: Monday, 24 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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