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Gold Seeker Weekly Wrap-Up: Gold and Silver End Slightly Lower on the Week
By: Chris Mullen

 -- Published: Friday, 18 August 2017 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1286.40

-$2.30

-0.38%

Silver

$17.03

-$0.02

-0.47%

XAU

83.90

-0.47%

-0.23%

HUI

196.46

-0.40%

-0.72%

GDM

638.48

-0.38%

-0.50%

JSE Gold

1410.53

+52.67

+2.30%

USD

93.41

-0.27

+0.37%

Euro

117.66

+0.35

-0.03%

Yen

91.73

+0.29

+0.13%

Oil

$48.51

+$1.42

-0.63%

10-Year

2.193%

+0.005

-0.86%

Bond

155.84375

+0.15625

+0.42%

Dow

21674.51

-0.35%

-0.84%

Nasdaq

6216.52

-0.09%

-0.64%

S&P

2425.55

-0.18%

-0.65%

 
http://www.goldseek.com/news/2017/8-18gsr.JPG

 

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:

 

Jan Skoyles: Gold hedges dollar devaluation and price inflation

 

The Statistics:

Activity from: 8/17/2017

Gold Warehouse Stocks:

8,707,110.590

+81,971.208

Silver Warehouse Stocks:

215,596,258.890

-31,236.91

 

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

795.443

25,574,288

US$33,133m

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$5,734m

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$6,338m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$462m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

1.  Harmony

HMY +5.06% $1.87

2.  Gold Fields

GFI +4.35% $4.32

3.  Avino

ASM +3.03% $1.70

 

LOSERS

1.  Northern Dynasty

NAK -6.41% $1.46

2.  Kinross

KGC -2.75% $4.25

3.  Seabridge

SA -2.54% $11.50

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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© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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

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