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Gold Seeker Closing Report: Gold Gains While Stocks Drop Over 1%
By: Chris Mullen

 -- Published: Thursday, 17 August 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1288.70

+$7.00

Silver

$17.05

-$0.04

XAU

84.30

-0.33%

HUI

197.24

+0.04%

GDM

641.48

-0.18%

JSE Gold

1357.86

+27.58

USD

93.68

+0.17

Euro

117.31

-0.42

Yen

91.44

+0.44

Oil

$47.09

+$0.31

10-Year

2.188%

-0.045

T-Bond

155.84375

+0.78125

Dow

21750.73

-1.24%

Nasdaq

6221.91

-1.94%

S&P

2430.01

-1.54%

 
http://www.goldseek.com/news/2017/8-17gsr.JPG

 

The Metals:

 

Gold gained $8.10 to $1289.80 in Asia before it fell back to $1281.70 in late morning New York trade, but it then rallied back higher into the close and ended with a gain of 0.55%.  Silver rose to $17.159 before it fell back to $16.977 and then also bounced back higher, but it still ended with a loss of 0.23%.

 

Euro gold rose to about €1099, platinum lost $5 to $973, and copper fell 6 cents to about $2.91.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

U.S. Leading Economic Index Rises In Line With Estimates In July  Nasdaq

US industrial production rose 0.2% in July, vs 0.3% increase expected  CNBC

Philly Fed Index Dips Less Than Expected In August  Nasdaq

U.S. Jobless Claims Decrease to Lowest Level Since February  Bloomberg

 

Tomorrow brings Consumer Sentiment.

 

The Markets:

  

Oil ended modestly higher in mixed trade.

 

The U.S. dollar index rose as the euro fell after the release of minutes from the ECB’s last meeting.

 

Treasuries saw decent gains as the Dow, Nasdaq, and S&P dropped over 1% on political uncertainty.

 

Among the big names making news in the market today were Alibaba, Cisco, Target, and Wal-Mart.

 

GATA Posts:

 

Those who most need monetary metals are least interested, Embry says

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

 

The Statistics:

As of close of business: 8/16/2017

Gold Warehouse Stocks:

8,625,139.382

-3,009.62

Silver Warehouse Stocks:

215,627,495.800

-110,139.00

 

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:

 

Kinross Gold’s (KGC) partnership, Gold Fields’ (GFI) first half results, Banro’s (BAA) second quarter results, Harmony’s (HMY) second quarter results, and Fortuna’s (FSM) board appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +4.70% $1.56

2.  Paramount

PZG +4.03% $1.55

3.  Pretivm

PVG +3.50% $8.57

 

LOSERS

1.  Freeport

FCX -3.86% $14.20

2.  Nevsun

NSU -3.72% $2.07

3.  DRDGOLD

DRD -2.75% $3.18

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

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

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 -- Published: Thursday, 17 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

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