August 30: Gold and Silver Chop Near Unchanged

Chris Mullen
|
Wednesday, August 30th

 

Close

Gain/Loss

Gold

$1308.20

-$0.70

Silver

$17.41

+$0.04

XAU

88.16

-1.36%

HUI

208.47

-0.96%

GDM

673.23

-0.87%

JSE Gold

1428.67

-18.36

USD

92.90

+0.54

Euro

118.87

-0.79

Yen

90.71

-0.48

Oil

$45.96

-$0.48

10-Year

2.138%

+0.014

T-Bond

157.00

+0.0625

Dow

21892.43

+0.12%

Nasdaq

6368.31

+1.05%

S&P

2457.59

+0.46%

 
http://www.goldseek.com/news/2017/8-30gsr.JPG

 

The Metals:

 

Gold traded mostly higher in Asia before it dropped down to $1305.30 at about 8:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.05%.  Silver slipped to as low as $17.315 and ended with a gain of 0.23%.

 

Euro gold rose to about €1100, platinum lost $8.50 to $985.50, and copper fell a couple of cents to about $3.06.

 

Gold and silver equities fell roughly 1% in the first 45 minutes of trade and remained near that level for the rest of the day.

 

The Economy:

 

U.S. Second-Quarter Growth Revised Up to 3%, Signaling Momentum  Bloomberg

U.S. private sector adds 237,000 jobs in August: ADP  Reuters

Will the debt ceiling tank the market?  MarketWatch

 

Tomorrow brings Initial Jobless Claims, Chicago PMI, and Pending Home Sales.

 

The Markets:

 

Oil fell another 1% on refinery outages.

 

The U.S. dollar index rose and treasuries traded mixed on better than expected economic data that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Uber, Fujifilm, Under Armour, and Dycom.

 

GATA Posts:

 

 

Rickards: Repatriation will slow gold leasing; U.S. may revalue gold if debt ceiling isn't raised

 

The Statistics:

As of close of business: 8/29/2017

Gold Warehouse Stocks:

8,696,179.550

+10,037.632

Silver Warehouse Stocks:

217,584,096.977

-69,029.54

 

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

816.432

26,249,111

US$34,336m

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$5,813m

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$6,425m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$469m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.069 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 219.59: +1.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,363.03: No change from yesterday’s data.

 

The Miners:

 

Gold Resource’s (GORO) drill results, Eldorado Gold’s (EGO) fatality, Endeavour Silver’s (EXK) drill results, and Silver Bull’s (SVBL) drill program were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alexco

AXU +3.75% $1.66

2.  Richmont

RIC +3.39% $9.15

3.  Americas Silver

USAS +3.36% $4.00

 

 

LOSERS

1.  Seabridge

SA -5.24% $11.75

2.  Nevsun

NSU -4.95% $2.11

3.  Freeport

FCX -4.27% $14.56

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

 

- 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.