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Gold Seeker Closing Report: Gold Gains While Silver Slips With Stocks
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 16 August 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1346.10

+$6.70

Silver

$19.80

-$0.01

XAU

110.83

-0.57%

HUI

275.08

-0.73%

GDM

856.15

-0.11%

JSE Gold

2624.51

-99.17

USD

94.77

-0.83

Euro

112.79

+0.95

Yen

99.73

+0.98

Oil

$46.58

+$0.84

10-Year

1.576%

+0.023

T-Bond

171.40625

-0.34375

Dow

18552.02

-0.45%

Nasdaq

5227.11

-0.66%

S&P

2178.15

-0.55%

 
 

 

The Metals:

 

Gold gained $15.57 to $1354.97 in London before it fell back to almost unchanged at $1341.93 at about 10AM EST, but it then chopped back higher in the next few hours of trade and ended with a gain of 0.5%.  Silver climbed up to $20.097 before it dropped back to $19.729 and then also bounced back higher, but it still ended with a loss of 0.05%.

 

Euro gold fell to about €1193, platinum gained $6 to $1115, and copper climbed a couple of cents to about $2.17.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

July

0.0%

0.0%

0.2%

Core CPI

July

0.1%

0.2%

0.2%

Housing Starts

July

1211K

1167K

1186K

Building Permits

July

1152K

1153K

1153K

Industrial Production

July

0.7%

0.3%

0.4%

Capacity Utilization

July

75.9%

75.7%

75.4%

 

U.S. inflation tame as economy gains momentum  Reuters

World seeing ‘greatest monetary policy experiment in history’ - Rothschild RT Business

Fed's Lockhart open to at least one rate hike this year  MarketWatch

Dudley Says September Hike Possible, Markets Too Complacent  Bloomberg

Fed's Dudley says 'possible' to hike rates next month: FBN  Reuters

 

Tomorrow brings FOMC Minutes.

 

The Markets:

 

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

 

Oil rose almost 2% as the U.S. dollar index fell notably after the pound jumped higher on rising inflation data in the UK.

 

Treasuries saw slight losses on hawkish fed commentary and decent housing and industrial output data that sent the Dow, Nasdaq, and S&P lower on concerns that an interest rate hike by the fed may be coming sooner than previously expected.

 

Among the big names making news in the market today were MGM Resorts, Dick’s Sporting Goods, BHP Billiton, and Rosneft.

 

GATA Posts:

 

 

Peter Grandich: Why the mother of all gold bull markets has begun

Silver is 'kryptonite' to central bankers suppressing gold, Murphy tells USAWatchdog

 

The Statistics:

As of close of business: 8/15/2016

Gold Warehouse Stocks:

11,002,688.455

-3,467.702

Silver Warehouse Stocks:

156,349,688.146

-85,417.23

 

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

960.447

30,879,318

US$41,494m

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$5,995m

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$6,612m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$484m

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: 222.89: No change from yesterday’s data.

 

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

 

The Miners:

 

IAMGOLD’s (IAG) closed financing and Osisko Gold’s (OSK.TO) streamlined operations were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +10.64% $1.04

2.  Eurasian

EMXX +10.49% $1.37

3.  Almaden

AAU +5.52% $1.72

 

LOSERS

1.  Avino

ASM -6.50% $2.59

2.  Paramount

PZG -4.46% $2.14

3.  Harmony

HMY -3.36% $4.31

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: Tuesday, 16 August 2016 | E-Mail  | Print  | Source: GoldSeek.com

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