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Gold Seeker Closing Report: Gold and Silver End Lower In Mixed Trade While Stocks Climb To Record Highs
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 11 August 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1337.90

-$8.80

Silver

$19.95

-$0.22

XAU

112.29

-0.39%

HUI

279.33

-0.82%

GDM

865.45

-0.56%

JSE Gold

2810.33

+17.92

USD

95.89

+0.23

Euro

111.39

-0.40

Yen

98.13

-0.76

Oil

$43.49

+$1.78

10-Year

1.573%

+0.064

T-Bond

171.75

-1.71875

Dow

18638.34

+0.64%

Nasdaq

5235.29

+0.46%

S&P

2188.45

+0.47%

 
 
http://goldseek.com/news/GoldSeeker/2016/8-11gsr/1.jpg

 

The Metals:

 

Gold dropped $6.14 to $1340.56 in Asia before it climbed up to $1352.40 in late morning New York trade, but it then fell back off into the close and ended with a loss of 0.65%.  Silver slipped to as low as $19.897 and ended with a loss of 1.09%.

 

Euro gold fell to about €1201, platinum lost $40 to $1135, and copper climbed a couple of cents to about $2.19.

 

Gold and silver equities rose roughly 1.5% in the first hour and a half of trade, but they then drifted back lower into the close and ended with modest losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

July

0.2%

-

0.8%

Export Prices ex-ag.

July

0.3%

-

0.5%

Import Prices

July

0.1%

-

0.6%

Import Prices ex-oil

July

0.5%

-

-0.3%

Initial Claims

8/06

266K

266K

267K

 

Tomorrow brings PPI, Retail Sales, Michigan Sentiment, and Business Inventories.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/8-11gsr/1.png

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

 

Oil jumped over 4% higher after “comments from Saudi Arabia’s energy minister raised the possibility that major producers will take action to stabilize the market at a meeting planned for next month.”

 

The U.S. dollar index bounced back from this week’s interest rate driven losses.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose on oil’s rebound and mostly better than expected earnings reports.

 

Among the big names making news in the market today were Zurich Insurance, Valeant, Alibaba, and Macy’s.

 

GATA Posts:

 

 

Investment surpasses jewelry as source of most demand for gold

Benn Steil: Adopt a gold-backed dollar? This is what happened the last time we tried

 

The Statistics:

As of close of business: 8/10/2016

Gold Warehouse Stocks:

11,249,766.127

-98,376.49

Silver Warehouse Stocks:

154,594,864.006

+1,718,798.57

 

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

972.618

31,270,627

US$42,367m

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$5,991m

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$6,618m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$483m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.88

1,121,361

US$1,417m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 221.84: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,941.12: No change from yesterday’s data.

 

The Miners:

 

Almaden’s (AAU) director change, Comstock’s (LODE) safety award, Silvercorp’s (SVM.TO) first quarter results, Endeavor Silver’s (EXK) management change, Golden Minerals (AUMN) second quarter results and exploration update, and Tahoe’s (TAHO) dividend reinvestment plan were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +15.54% $2.90

2.  Silver Standard

SSRI +11.65% $15.43

3.  Alamos

AGI +2.99% $8.95

 

LOSERS

1.  Almaden

AAU -7.18% $1.68

2.  Vista Gold

VGZ -4.20% $1.14

3.  New Gold

NGD -3.87% $5.71

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 2016

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 -- Published: Thursday, 11 August 2016 | E-Mail  | Print  | Source: GoldSeek.com

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