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Gold Seeker Closing Report: Gold and Silver Fall About 1% While Stocks Reverse Morning Gains
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 25 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1139.50

-$13.60

Silver

$14.64

-$0.14

XAU

46.18

-3.95%

HUI

111.17

-4.34%

GDM

378.71

-3.98%

JSE Gold

946.88

-131.77

USD

94.10

+0.71

Euro

114.99

-1.05

Yen

84.16

-0.26

Oil

$39.31

+$1.07

10-Year

2.133%

+0.136

Bond

158.40625

-2.50

Dow

15666.44

-1.29%

Nasdaq

4506.48

-0.44%

S&P

1867.62

-1.35%

 
 

 

The Metals:

 

Gold fell $18.43 to $1134.67 at about 10:30AM EST before it bounced back higher into the close, but it still ended with a loss of 1.18%.  Silver slipped to as low as $14.57 and ended with a loss of 0.95%.

 

Euro gold fell to about €992, platinum lost $13 to $974, and copper climbed 5 cents to about $2.30.

 

Gold and silver equities fell over 3% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

June

5.0%

5.1%

5.0%

FHFA Housing Price Index

June

0.2%

-

0.5%

New Home Sales

July

507K

511K

481K

Consumer Confidence

Aug

101.5

93.1

91.0

 

Services sector growth slows in August: Markit  Reuters

CBO sees lower U.S. deficit in 2015 as revenues climb  Reuters

The next debt-ceiling battle may get pushed back to Thanksgiving MarketWatch

 

Tomorrow brings Durable Goods Orders for July expected at -0.6%.

 

The Markets:

 

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

 

Oil rose along with the U.S. dollar and treasuries fell as the Dow, Nasdaq, and S&P climbed about 2% higher for most of the day after “China cut interest rates and banks' reserve requirements in a bid to kick-start its wavering economy,” but stocks then sold off in the last hour of trade and ended roughly 1% lower on uncertainty about what tomorrow may bring.

 

Among the big names making news in the market today were Bank of Montreal, BofA, Exelon, Best Buy, and Boeing.

 

GATA Posts:

 

 

Precious metals trading is probed by EU after U.S. inquiry

 

The Statistics:

Activity from: 8/24/2015

Gold Warehouse Stocks:

7,296,141.754

-14,680.971

Silver Warehouse Stocks:

171,080,293.317

+870,672.01

 

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

681.105

21,898,202

US$24,902m

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$5,050m

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$5,580m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$409m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.48

786,914

US$918m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.278 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.07: +0.45 change from yesterday’s data.

 

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

 

The Miners:

 

Comstock’s (LODE) permit approvals and Paramount’s (PZG) magnetic survey were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +4.12% $1.01

2.  NovaGold

NG +3.28% $3.46

3.  DRDGOLD

DRD +0.83% $1.21

 

LOSERS

1.  Gold Fields

GFI -11.6% $2.82

2.  Paramount

PZG -8.59% $1.17

3.  Yamana

AUY -8.29% $1.88

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: Tuesday, 25 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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