-- Published: Friday, 2 September 2016 | Print | Disqus
Please Note: US Markets are closed on Monday for Labor Day.
| Close | Gain/Loss | On Week |
Gold | $1325.60 | +$12.30 | +0.34% |
Silver | $19.39 | +$0.52 | +4.02% |
XAU | 96.63 | +3.55% | +0.87% |
HUI | 239.48 | +3.55% | +0.73% |
GDM | 756.49 | +3.60% | +0.30% |
JSE Gold | 2370.37 | -1.35 | -6.52% |
USD | 95.87 | +0.25 | +0.40% |
Euro | 111.58 | -0.40 | -0.34% |
Yen | 96.18 | -0.66 | -2.07% |
Oil | $44.44 | +$1.28 | -6.72% |
10-Year | 1.596% | +0.026 | -2.39% |
Bond | 170.9375 | -1.00 | +0.22% |
Dow | 18491.96 | +0.39% | +0.52% |
Nasdaq | 5249.90 | +0.43% | +0.59% |
S&P | 2179.98 | +0.42% | +0.50% |
The Metals:
Gold dipped $3.47 to $1309.83 in Asia before it jumped up to $1327.70 after the release of this morning’s jobs data and then fell back off into midday, but it then rallied back higher in afternoon trade and ended with a gain of 0.94%. Silver surged to as high as $19.405 and ended with a gain of 2.76%.
Euro gold rose to about €1188, platinum gained $18 to $1062, and copper remained at about $2.09.
Gold and silver equities rose over 4% at the open before they chopped back lower at times, but they still ended over 3.5% higher on the day.
The Economy:
Report | For | Reading | Expected | Previous |
Nonfarm Payrolls | Aug | 151K | 180K | 275K |
Unemployment Rate | Aug | 4.9% | 4.8% | 4.9% |
Hourly Earnings | Aug | 0.1% | 0.2% | 0.3% |
Average Workweek | Aug | 34.3 | 34.5 | 34.4 |
Trade Balance | July | -$39.5B | -$43.0B | -$44.7B |
Factory Orders | July | 1.9% | 2.0% | -1.8% |
The BLS net birth/death adjustment added 106,000 payrolls to August’s data. Private Payrolls rose 126,000.
Traders trim bets on Fed rate hike as U.S. job gains slow Reuters
All of this week’s other economic reports:
Next week’s economic highlights include ISM Services on Tuesday, the Fed's Beige Book on Wednesday, Initial Jobless Claims and Consumer Credit on Thursday, and Wholesale Inventories on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose 3% after Putin renewed talks about a possible production freeze.
The U.S. dollar index initially spiked lower after this morning’s jobs data reduced expectations for a fed rate hike in September, but it then climbed back higher as treasuries fell on speculation that the data is strong enough to support a hike in December.
The Dow, Nasdaq, and S&P traded mostly higher on hopes for continued easy monetary policy in the near future.
Among the big names making news in the market Friday were Petrobras, Apple, Louis Vuitton, UPS, and Samsung.
GATA Posts:
Zero Hedge: Deutsche Bank tries to explain why it failed to deliver gold as promised
GATA board member Ed Steer interviewed about gold market manipulation
The Statistics:
Activity from: 9/1/2016
Gold Warehouse Stocks: | 10,933,828.789 | +956.21 |
Silver Warehouse Stocks: | 162,231,816.247 | -689,185.05 |
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 | 937.890 | 30,154,105 | US$39,930m |
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$5,859m |
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$6,475m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$475m |
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 5.342 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: No change from yesterday’s data.
The Miners:
Goldcorp’s (GG) dividend, Tanzanian Royalty’s (TRX) financing, and Primero’s (PPP) new CFO were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Vista Gold | VGZ +11.7% $1.08 |
2. Paramount | PZG +11.11% $1.90 |
3. Exeter | XRA +10.26% $1.29 |
LOSERS
1. Eurasian | EMXX -2.75% $1.06 |
2. Primero | PPP -0.61% $1.62 |
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, 2 September 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Weekly Wrap-Up: Gold Gains and Silver Rises Over 4% on the Week
