August 25: Gold and Silver End Slightly Higher on the Week

Chris Mullen
|
Friday, August 25th

 

Close

Gain/Loss

On Week

Gold

$1291.10

+$4.90

+0.37%

Silver

$17.04

+$0.09

+0.06%

XAU

85.82

-0.36%

+2.29%

HUI

201.14

+0.51%

+2.38%

GDM

651.34

+0.36%

+2.01%

JSE Gold

1330.95

-1.60

-5.64%

USD

92.52

-0.77

-0.95%

Euro

119.20

1.17

+1.31%

Yen

91.57

+0.20

-0.17%

Oil

$47.87

+$0.44

-1.32%

10-Year

2.171%

-0.021

-1.00%

Bond

156.59375

+0.50

+0.48%

Dow

21813.67

+0.14%

+0.64%

Nasdaq

6265.64

-0.09%

+0.79%

S&P

2443.05

+0.17%

+0.72%

 
http://www.goldseek.com/news/2017/8-25gsr.JPG

 

The Metals:

 

Gold waffled between $1288.40 and $1285.60 in London before it jumped up to $1293.20 in early New York trade and then spiked down to $1276.50 shortly before 10AM EST, but it quickly rebounded to a new session high at $1294.00 by late morning and ended with a gain of 0.38%.  Silver rose to as high as $17.167 and ended with a gain of 0.53%.

 

Euro gold fell to about €1083, platinum lost $7 to $970, and copper remained at about $3.04.

 

Gold and silver equities traded mostly slightly higher and ended mixed.

 

The Economy:

 

Draghi Says Protectionism Is a Threat to Global Economic Growth  Bloomberg

Yellen defends post-crisis bank rules under assault from Trump, Dimon  MarketWatch

Yellen Says Any Changes to Financial Rules Should Be `Modest'  Bloomberg

Fed's Kaplan counsels patience on rates, speed on balance sheet  Reuters

Orders for durable goods sink 6.8% in July, the most in nearly three years  MarketWatch

 

Next week’s economic highlights include International Trade in Goods on Monday, the S&P Corelogic Case-Shiller HPI and Consumer Confidence on Tuesday, GDP and ADP Employment on Wednesday, Initial Jobless Claims, Chicago PMI, and Pending Home Sales on Thursday, and August's jobs data, the PMI Manufacturing Index, the ISM Manufacturing Index, Construction Spending, and Consumer Sentiment on Friday.

 

The Markets:

 

Oil rose almost 1% on uncertainty about the impacts of Hurricane Harvey.

 

The U.S. dollar index saw notable losses “after Federal Reserve Chairwoman Janet Yellen did not comment on monetary policy in her remarks at a high-profile gathering of central bankers in Jackson Hole.”

 

Treasuries rose as the Dow, Nasdaq, and S&P traded mixed after Yellen’s comments offered little insight on future fed actions.

 

Among the big names making news in the market Friday were VW, Goldman Sachs, Sears, Tesla, and Amazon and Whole Foods.

 

GATA Posts:

 

 

MarketSlant's Lanci remains suspicious about Fed's still holding German gold

 

The Statistics:

Activity from: 8/24/2017

Gold Warehouse Stocks:

8,697,497.700

-225.05

Silver Warehouse Stocks:

216,514,572.643

-23,125.867

 

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

799.286

25,697,857

US$33,021m

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$5,733m

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$6,342m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$464m

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: 215.91: +0.44 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,363.03: -38.21 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Americas Silver

USAS +7.12% $3.61

2.  Sandstorm

SAND +5.00% $4.62

3.  Endeavour Silver

EXK +2.69% $2.29

 

LOSERS

1.  Tahoe Resources

TAHO -18.43% $4.47

2.  Avino

ASM -4.02% $1.67

3.  Almaden

AAU -2.65% $1.10

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

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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

© Gold Seeker 2017

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

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.