The Metals:

Gold gained $8.80 to $1297.50 in London and climbed to as high as $1300.00 in early New York trade before it fell all of the way back $1284.80 just after midday, but it then bounced back higher into the close and ended with a loss of just 0.18%.  Silver rose to as high as $17.296 and ended with a loss of 0.12%.

Euro gold fell back under €1094, platinum gained $5 to $978, and copper climbed 3 cents to about $2.94.

Gold and silver equities climbed roughly 2% higher at the open before they fell to see slight losses in early afternoon trade and then stabilized, but they still ended modestly lower on the day.

The Economy:

Surge in Expectations Drives Gain in U.S. Consumer Sentiment  Bloomberg

Fed's Kaplan Says Immigration Key to U.S. Economy Beating China  Bloomberg

Investors flee stocks for bonds, gold as U.S. tax cut hopes fade  Reuters

Next week’s economic highlights include the FHFA House Price Index on Tuesday, New Home Sales on Wednesday, Initial Jobless Claims and Existing Home Sales on Thursday, and Durable Goods Orders and Fed Chair Yellen’s speech in Jackson Hole on Friday.

The Markets:

Oil gained 3% on signs that the physical market is tightening.

The U.S. dollar index fell and treasuries edged higher on more political uncertainty that dragged the Dow, Nasdaq, and S&P lower by the close.

Among the big names making news in the market Friday were BlackBerry, Foot Locker, SoftBank, Wal-Mart and Amazon, and Uber.

GATA Posts:

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.435 tonnes.

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

Silver Trust (SLV) Total Tonnes in Trust: 10,401.24: -44.09 change from yesterday’s data.

The Miners:

Freeport’s (FCX) redemption of notes and AngloGold’s (AU) possible spinoff plans were among the big stories in the gold and silver mining industry making headlines Friday.

WINNERS

LOSERS

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

- Chris Mullen, Gold Seeker Report

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 -- Published: Friday, 18 August 2017 | E-Mail  | Print  | Source: GoldSeek.com

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