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Gold Seeker Closing Report: Gold and Silver Gain Before Jobs Day
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 1 September 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1313.30

+$5.00

Silver

$18.87

+$0.22

XAU

93.32

+3.49%

HUI

231.26

+4.32%

GDM

730.21

+3.07%

JSE Gold

2371.72

+41.77

USD

95.62

-0.41

Euro

112.01

+0.43

Yen

96.90

+0.20

Oil

$43.16

-$1.54

10-Year

1.570%

+0.002

T-Bond

171.96875

+0.125

Dow

18419.30

+0.10%

Nasdaq

5227.21

+0.27%

S&P

2170.86

-0.00%

 
 

 

Don’t miss today’s news from Brazil Resources - Brazil Resources completes acquisition of Titiribi Gold-Copper Project from NovaCopper

 

Amir Adnani, Chairman of Brazil Resources, commented: "We are very pleased to complete the acquisition of the Titiribi Project, which we anticipate will deliver significant value accretion to our shareholders. The Company continues to execute on its stated mandate to uncover opportunities and acquire quality gold assets."

 

The Metals:

 

Gold saw slight gains in Asia before it dropped down to $1302.62 at about 9AM EST, but it then jumped to $1314.88 in the next four hours of trade and ended with a gain of 0.38%.  Silver rose to as high as $18.928 and ended with a gain of 1.18%.

 

Euro gold remained at about €1173, platinum lost $3 to $1044, and copper remained at about $2.09.

 

Gold and silver equities fell over 1% at the open, but they then climbed back higher for most of the rest of trade and ended over 3% higher on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

8/27

263K

265K

261K

Productivity

Q2

-0.6%

-0.6%

-0.5%

Unit Labor Costs

Q2

4.3%

2.1%

2.0%

Construction Spending

July

0.0%

0.6%

0.9%

ISM Index

Aug

49.4

52.2

52.6

 

Tomorrow brings August’s jobs data, the Trade Balance, and Factory Orders.

 

The Markets:

 

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

 

Oil extended over 3% lower after yesterday’s stockpile build elevated supply concerns.

 

The U.S. dollar index fell and treasuries rose after today’s disappointing manufacturing data reduced expectations for an interest rate hike by the fed.

 

The Dow, Nasdaq, and S&P traded mixed and ended near unchanged on worries about the economy.

 

Among the big names making news in the market today were Samsung, GM, Ford, and Campbell.

 

GATA Posts:

 

 

Asia loosens London’s grip on FX trading

Ted Butler: How prices get set

 

The Statistics:

As of close of business: 8/31/2016

Gold Warehouse Stocks:

10,932,872.579

+417.95

Silver Warehouse Stocks:

162,921,001.297

+181,745.05

 

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

943.232

30,325,860

US$39,697m

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$5,835m

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$6,447m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$471m

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 12.169 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 225.44: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 11,189.28: +59.08 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) appointment of a new executive to lead the Argentine side of its mothballed Pascua-Lama project in South America and Aurcana’s (AUN.V) updated Preliminary Economic Assessment in Texas were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +11.05% $3.92

2.  Alexco

AXU +9.52% $1.84

3.  Primero

PPP +8.67% $1.63

 

LOSERS

1.  Paramount

PZG -2.29% $1.71

2.  First Majestic

AG -1.91% $11.79

3.  DRDGOLD

DRD -0.58% $5.18

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 2016

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: Thursday, 1 September 2016 | E-Mail  | Print  | Source: GoldSeek.com

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