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Gold Seeker Closing Report: Gold and Silver Gain While Stocks Fall 1%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 31 August 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1135.50

+$1.10

Silver

$14.64

+$0.05

XAU

48.42

-0.82%

HUI

115.03

-0.94%

GDM

388.98

-1.06%

JSE Gold

984.02

+15.28

USD

95.94

-0.13

Euro

112.14

+0.34

Yen

82.47

+0.32

Oil

$49.20

+$3.98

10-Year

2.200%

+0.014

Bond

155.625

-1.09375

Dow

16528.03

-0.69%

Nasdaq

4776.50

-1.07%

S&P

1972.18

-0.84%

 
 

 

The Metals:

 

Gold fell $7.69 to $1126.71 at about 9AM EST before it rallied back to $1135.38 in the next few hours of trade and then chopped back lower in early afternoon trade, but it then jumped back up to $1136.55 in the last minutes of the day and ended with a gain of 0.1%.  Silver rose to as high as $14.675 and ended with a gain of 0.34%.

 

Euro gold fell to about €1012, platinum lost $9 to $1008, and copper remained at about $2.34.

 

Gold and silver equities fell about 4% in the first 15 minutes of trade before they rallied back higher for most of the rest of the morning and then edged back lower in early afternoon trade, but they then bounced back higher again in the last half hour of trade and ended with only about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Chicago PMI

Aug

54.4

54.7

54.7

 

Tomorrow brings the ISM Index and Construction Spending.

 

The Markets:

 

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

 

Oil jumped almost 9% higher “after U.S. oil production data showed output falling and OPEC said it would talk with other producers about low prices.”

 

The U.S. dollar fell as the yen and euro rose on unwinding of carry trades.

 

Treasuries traded mostly lower along with the Dow, Nasdaq, and S&P on uncertainty about interest rate policy.

 

Among the big names making news in the market today were Toshiba, Wal-Mart, Google, and Samsung.

 

GATA Posts:

 

 

Dubai gold retailer defaults on $136 million

Zero Hedge: More foreign gold withdrawn from NY Fed in July

ISIS advertises its new gold coins but still pays its gunmen in U.S. dollars

App for that? BitGold looks to take gold savings mainstream

Reuters: South Africa to promote platinum as central bank reserve asset

 

The Statistics:

Activity from: 8/28/2015

Gold Warehouse Stocks:

7,221,124.302

+792.40

Silver Warehouse Stocks:

170,562,234.180

-599,207.882

 

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

682.595

21,946,103

US$24,900m

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$5,022m

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$5,568m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$407m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

24.83

798,370

US$906m

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: 10,137.33: +29.69 change from yesterday’s data.

 

The Miners:

 

Northern Dynasty’s (NAK) closed financing, AuRico’s (AUQ) private placement with Alamos Gold (AGI), and Barrick’s (ABX) strategic joint venture with Zijin Mining Group were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Nevsun

NSU +3.08% $3.01

2.  Pan American

PAAS +2.97% $6.93

3.  New Gold

NGD +2.68% $2.30

 

LOSERS

1.  DRDGOLD

DRD -6.15% $1.22

2.  Fortuna

FSM -5.45% $2.43

3.  Tahoe Resources

TAHO -4.56% $8.37

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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© 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, 31 August 2015 | E-Mail  | Print  | Source: GoldSeek.com

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