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Gold Seeker Closing Report: Gold and Silver Reverse Morning Losses And End Higher
By: Chris Mullen

 -- Published: Wednesday, 16 August 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1281.70

+$9.20

Silver

$17.09

+$0.44

XAU

84.58

+2.90%

HUI

197.17

+2.41%

GDM

639.76

+2.12%

JSE Gold

1330.28

-4.88

USD

93.51

-0.30

Euro

117.73

+0.36

Yen

91.00

+1.00

Oil

$46.78

-$0.77

10-Year

2.233%

-0.043

T-Bond

154.90625

+0.50

Dow

22024.87

+0.12%

Nasdaq

6345.10

+0.19%

S&P

2468.11

+0.14%

 
http://www.goldseek.com/news/2017/8-16gsr.JPG

 

The Metals:

 

Gold dipped to $1267.60 by a little after 9AM EST, but it then jumped to as high as $1283.80 in afternoon trade and ended with a gain of 0.72%.  Silver slipped to $16.634 in Asia, but it then climbed to as high as $17.112 in late trade and ended with a gain of 2.64%.

 

Euro gold rose to about €1089, platinum gained $16 to $978, and copper climbed 8 cents to about $2.97.

 

Gold and silver equities rose throughout most of the day and ended with over 2% gains.

 

The Economy:

 

Fed policymakers grow more worried about weak inflation: minutes  Reuters

Fed Sees Balance-Sheet Move Soon as Inflation Debate Heats Up  Bloomberg

U.S. Housing Starts Fell in July on Apartment Building Slowdown  Bloomberg

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed survey, Industrial Production, and Leading Economic Indicators.

 

The Markets:

  

Oil erased early gains after the Energy Information Administration reported that crude inventories fell 8.9 million barrels, gasoline inventories were unchanged, and distillates rose 700,000 barrels.  “Crude production jumped by 79,000 barrels a day to 9.5 million a day.”

 

The U.S. dollar index “turned lower against most major currencies on Wednesday following an exodus from and eventual disbanding of U.S. President Donald Trump's manufacturing council and strategic policy forum.”

 

Treasuries rose as the Dow, Nasdaq, and S&P pared early gains on political and interest rate uncertainty.

 

Among the big names making news in the market today were Target, Dick’s Sporting Goods, Urban Outfitters, Fiat Chrysler, and Maersk.

 

GATA Posts:

 

Brien Lundin: If government doesn't want you to own gold, you probably should

 

The Statistics:

As of close of business: 8/15/2017

Gold Warehouse Stocks:

8,628,149.002

-4,018.75

Silver Warehouse Stocks:

215,737,584.800

-284,367.19

 

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

791.008

25,431,705

US$32,363m

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$5,654m

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$6,253m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$460m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 213.28: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,445.33: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Northern Dynasty

NAK +7.19% $1.49

2.  DRDGOLD

DRD +6.51% $3.27

3.  McEwen

MUX +6.17% $2.42

 

LOSERS

1.  Harmony

HMY -1.71% $1.72

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 2017

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 -- Published: Wednesday, 16 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

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