-- Published: Tuesday, 1 September 2015 | Print | Disqus
| Close | Gain/Loss |
Gold | $1139.80 | +$4.30 |
Silver | $14.60 | -$0.04 |
XAU | 47.98 | -0.97% |
HUI | 112.61 | -2.10% |
GDM | 388.06 | -0.11% |
JSE Gold | 961.98 | -22.04 |
USD | 95.39 | -0.55 |
Euro | 113.03 | +0.92 |
Yen | 83.54 | +1.07 |
Oil | $45.41 | -$3.79 |
10-Year | 2.172% | -0.028 |
Bond | 156.53125 | +0.40625 |
Dow | 16058.35 | -2.84% |
Nasdaq | 4636.10 | -2.94% |
S&P | 1913.85 | -2.96% |
The Metals:
Gold gained $12.10 to $1147.60 by a little after 9AM EST before it fell back to $1137.69 in the next hour of trade, but it then bounced back higher in afternoon trade and ended with a gain of 0.38%. Silver rose to as high as $14.767 and ended with a loss of 0.27%.
Euro gold fell to about €1009, platinum lost $10 to $998, and copper fell 4 cents to about $2.30.
Gold and silver equities waffled near unchanged and ended roughly 1% lower.
The Economy:
Report | For | Reading | Expected | Previous |
ISM Index | Aug | 51.1 | 52.6 | 52.7 |
Construction Spending | July | 0.7% | 0.5% | 0.7% |
U.S. factory activity slows; construction spending up solidly Reuters
IMF’s Lagarde sees weaker than expected global economic growth Reuters
Global factory growth at two-year low – PMI Reuters
Tomorrow brings ADP Employment, Productivity, Factory Orders, and the fed’s Beige Book.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell almost 8%, the U.S. dollar dropped, and treasuries climbed higher as the Dow, Nasdaq, and S&P fell almost 3% on renewed concerns about China.
Among the big names making news in the market today were GE, GM, and Fiat Chrysler.
GATA Posts:
New York Sun: Gold standard isn't as crazy as today's central banking
The Commentary:
VIX ETFs Are In Crisis Mode
"That's what happens when there are 64 million shares short and only 52.3 million shares outstanding..."
Bill Holter's comment:
Briefly and in plain English I would like to explain this to you. The "VIX" index, otherwise known as the fear "index" has been a major tool of the PPT and Associates in supporting the stock market. A "low" number is indicative of little fear while a high number shows more fear. In an effort to support equities, this index has clearly been suppressed in price by selling more shares short than even exist. (Does this sound familiar to gold and silver investors?). This now poses a VERY BIG PROBLEM!
Plain and simple, with more shares short than exist, a short squeeze for the ages has been set up. Knowing a big move upward in the VIX is also synonymous with lower stock prices, one can extrapolate (along with many other technical and fundamental weaknesses) a market crash of epic proportions will happen whenever this short squeeze is actually covered. The "squeeze" has already begun with the VIX running up to 31.8 as of this writing. The "crash" has also started worldwide if you have been paying attention. In my opinion, the "short covering" has the potential to push the VIX index to all time high prices. Greater than 2001, 2008 and even 1987. Can you guess what this will mean to averages like the Dow Jones, S+P 500 or the NASDAQ???
Standing watch,
Bill Holter,
Holter-Sinclair collaboration
Comments welcome! bholter@hotmail.com
The Statistics:
Activity from: 8/31/2015
Gold Warehouse Stocks: | 7,219,747.871 | -1,376.431 |
Silver Warehouse Stocks: | 168,613,754.345 | -1,948,479.835 |
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$25,060m |
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$5,060m |
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$5,588m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$409m |
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: 161.17: -0.90 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,137.33: No change from yesterday’s data.
The Miners:
Pretivm’s (PVG) permits, First Mining’s (FF.V) business combination with Gold Canyon (GCU.V) and PC Gold (PKL.V), and Northern Dynasty’s (NAK) definitive arrangement agreement with Cannon Point Resources Ltd. were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. DRDGOLD | DRD +18.03% $1.44 |
2. Alamos | AGI +7.32% $4.40 |
3. Richmont | RIC +1.19% $2.56 |
LOSERS
1. Freeport | FCX -8.18% $9.77 |
2. Gold Fields | GFI -7.43% $2.99 |
3. Nevsun | NSU -6.98% $2.80 |
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
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
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.
| Digg This Article
-- Published: Tuesday, 1 September 2015 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Gains While Stocks Drop Nearly 3%
