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Gold Seeker Closing Report: Gold and Silver Fall Over 1% and 3%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 26 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1124.10

-$15.40

Silver

$14.18

-$0.46

XAU

43.96

-4.81%

HUI

105.23

-5.35%

GDM

361.97

-4.49%

JSE Gold

886.26

-60.62

USD

95.19

+1.09

Euro

113.35

-1.83

Yen

83.38

-0.71

Oil

$38.60

-$0.71

10-Year

2.172%

+0.039

Bond

155.96875

-1.75

Dow

16285.51

+3.95%

Nasdaq

4697.53

+4.24%

S&P

1940.51

+3.90%

 
 

 

The Metals:

 

Gold fell $21.62 to $1117.88 by late morning in New York before it bounced back higher in the last five and a half hours of trade, but it still ended with a loss of 1.35%.  Silver slipped to as low as $13.981 and ended with a loss of 3.14%.

 

Euro gold remained at about €992, platinum gained $5 to $979, and copper fell 5 cents to about $2.25.

 

Gold and silver equities fell about 5% in the first 45 minutes of trade before they bounced back higher at times, but they still ended near their lows of the session.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods

July

2.0%

-0.6%

4.1%

Durable Goods -ex trans.

July

0.6%

0.4%

1.0%

 

Fed's Dudley: September rate hike looks less compelling  CNBC

Fed's Dudley, mum on market turmoil, talks regional U.S. economy Reuters

Mortgage applications inch up in latest week: MBA Reuters

 

Tomorrow brings Initial Jobless Claims, GDP, and Pending Home Sales.

 

The Markets:

 

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

 

Oil ultimately closed lower after the Energy Information Administration reported that crude inventories fell 5.5 million barrels, gasoline inventories rose 1.7 million barrels, and distillates rose 1.4 million barrels.

 

The U.S. dollar rose and treasuries fell on better than expected economic data and easing worries about China that sent the Dow, Nasdaq, and S&P about 4% higher.

 

Among the big names making news in the market today were Schlumberger, HSBC, and Goldman Sachs.

 

GATA Posts:

 

 

John Crudele: How Washington will try to rig the stock market

 

The Statistics:

Activity from: 8/25/2015

Gold Warehouse Stocks:

7,309,888.134

+13,746.38

Silver Warehouse Stocks:

171,517,105.022

+436,811.705

 

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$24,535m

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$4,994m

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$5,511m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$404m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.59

790,727

US$886m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 162.07: No change from yesterday’s data.

 

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

 

The Miners:

 

Seabridge Gold’s (SA) drill results, Gold Resource’s (GORO) dividend, and Gold Standard’s (GSV) drilling were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Seabridge

SA -10.97% $5.52

2.  IAMGOLD

IAG -10.49% $1.45

3.  B2Gold

BTG -8.55% $1.07

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: Wednesday, 26 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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