-- Published: Friday, 26 August 2016 | Print | Disqus
| Close | Gain/Loss | On Week |
Gold | $1321.10 | -$1.40 | -1.48% |
Silver | $18.64 | +$0.08 | -3.52% |
XAU | 95.80 | -0.74% | -11.03% |
HUI | 237.74 | -0.80% | -11.47% |
GDM | 754.22 | -0.49% | -9.65% |
JSE Gold | 2535.73 | +5.55 | -2.38% |
USD | 95.49 | +0.74 | +1.08% |
Euro | 111.96 | -0.88 | -1.14% |
Yen | 98.21 | -1.25 | -1.65% |
Oil | $47.64 | +$0.31 | -1.81% |
10-Year | 1.635% | +0.058 | +4.14% |
Bond | 170.5625 | -1.15625 | -0.29% |
Dow | 18395.40 | -0.29% | -0.85% |
Nasdaq | 5218.92 | +0.13% | -0.37% |
S&P | 2169.04 | -0.16% | -0.68% |
The Metals:
Gold gained $10.41 to $1332.91 at about 9AM EST before it dropped down to $1319.39 just after the release of Yellen’s Jackson Hole speech and then jumped to a new session high of $1341.96 in the next fifteen minutes of trade, but it then fell back off again in late morning trade and ended with a loss of 0.11%. Silver rose to as high as $19.049 before it fell back to $18.58, but it still ended with a gain of 0.43%.
Euro gold rose to about €1180, platinum lost $10 to $1062, and copper remained at about $2.09.
Gold and silver equities rose over 2% at the open before they fell to see almost 2% losses shortly after 8AM EST and then climbed to new highs for the day by midmorning, but they then drifted back lower into the close and ended with modest losses.
The Economy:
Report | For | Reading | Expected | Previous |
GDP | Q2 | 1.1% | 1.1% | 1.2% |
GDP Deflator | Q2 | 2.3% | 2.2% | 2.2% |
International Trade in Goods | Jul | -$59.3B | - | -$64.5B |
Michigan Sentiment | Aug | 89.8 | 90.6 | 90.4 |
Yellen Says Rate-Hike Case ‘Has Strengthened in Recent Months’ Bloomberg
Fed's Yellen says case for another interest-rate hike has strengthened MarketWatch
Fed's Fischer: Economy has strengthened, job report will weigh in on hike decision CNBC
All of this week’s other economic reports:
Next week’s economic highlights include Personal Income and Spending on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, ADP Employment, Chicago PMI, and Pending Home Sales on Wednesday, Initial Jobless Claims, Productivity, Construction Spending, and the ISM Index on Thursday, and August’s jobs data, the Trade Balance, and Factory Orders on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil edged higher on geopolitical concerns in Saudi Arabia.
The U.S. dollar index rose and treasuries fell after Federal Reserve Vice Chairman Stanley Fischer commented that two rate hikes were still possible this year.
The Dow, Nasdaq, and S&P erased early gains and ended mixed on interest rate uncertainty.
Among the big names making news in the market Friday were Tesla, Mazda, AB InBev, Prada, Saudi Aramco, and Herbalife.
GATA Posts:
Former Fed Governor Warsh admits that the central bank manipulates markets
The Statistics:
Activity from: 8/25/2016
Gold Warehouse Stocks: | 10,991,993.527 | -4,854.701 |
Silver Warehouse Stocks: | 160,828,637.287 | +517,750.32 |
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 | 956.588 | 30,755,253 | US$40,547m |
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$5,916m |
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$6,498m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$474m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 38.56 | 1,239,670 | US$1,656m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.781 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 224.90: +0.30 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 11,100.66: -59.14 change from yesterday’s data.
The Miners:
WINNERS
1. Great Panther | GPL +4.03% $1.29 |
2. Vista Gold | VGZ +3.05% $1.01 |
3. Coeur | CDE +2.55% $13.68 |
LOSERS
1. Almaden | AAU -4.23% $1.36 |
2. Paramount | PZG -2.86% $1.70 |
3. B2Gold | BTG -2.68% $2.90 |
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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-- Published: Friday, 26 August 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Over 1% and 3% on the Week
