• Gold: 1,204.79 3.33
  • Silver: 14.09 0.08
  • Euro: 1.124 0.001
  • USDX: 97.542 0.565
  • Oil: 59.18 0.36

August 23: Gold and Silver Fall Almost 1% and 2%

Chris Mullen
|
Thursday, August 23rd

 

Close

Gain/Loss

Gold

$1185.50

-$11.10

Silver

$14.50

-$0.26

XAU

65.30

-3.15%

HUI

141.62

-2.97%

GDM

516.04

-2.76%

JSE Gold

933.96

+0.14

USD

95.63

+0.59

Euro

115.42

-0.62

Yen

89.99

-0.65

Oil

$67.83

-$0.03

10-Year

2.823%

+0.007

T-Bond

145.65625

+0.1875

Dow

25656.98

-0.30%

Nasdaq

7878.46

-0.13%

S&P

2856.98

-0.17%

 
http://www.goldseek.com/news/2018/2018-08-23_14-06-56.jpg

 

The Metals:

 

Gold dropped $10.10 to $1186.50 in Asia before it bounced back towards unchanged in London, but it then fell back off again in New York and ended near its late session low of $1184.00 with a loss of 0.93%. Silver slipped to as low as $14.482 and ended with a loss of 1.76%.

 

Euro gold fell to about €1027, platinum lost $17 to $775, and copper fell a few cents to about $2.64.

 

Gold and silver equities drifted lower throughout the day and ended with about 3% losses.

 

The Economy:

 

U.S. New-Home Sales Fall to Nine-Month Low While Supply Rises  Bloomberg

Is the economy slowing? IHS Markit indexes signal softer growth in August in potential hint  MarketWatch

U.S. jobless claims fall, point to labor market strength  Reuters

Mortgage rates hit a four-month low as housing market stagnates  MarketWatch

 

Tomorrow brings Durable goods orders and a speech from Jerome Powell.

 

The Markets:

 

Oil held near unchanged while the U.S. dollar index bounced back from six days of losses.

 

Treasuries edged up as the Dow, Nasdaq, and S&P traded mostly lower on trade concerns.

 

Among the big names making news in the market today were Eventbrite, Morgan Stanley, Monsanto, and Alibaba.

 

GATA Posts:

 

 

Tocqueville's Hathaway marvels at gold's depression but declines to explain it

 

The Statistics:

As of close of business: 8/22/2018

Gold Warehouse Stocks:

8,434,670.736

-41,446.348

Silver Warehouse Stocks:

290,505,141.209

+1,109,141.83

 

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

768.702

24,714,543

US$29,461m

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$5,424m

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$6,007m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$425m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.37: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,236.28: No change from yesterday’s data.

 

The Miners:

 

A new Mining Promotion Initiative in the Democratic Republic of Congo and Silver Bear’s (SBR.TO) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNER

1.  Sibanye

SBGL +0.87% $2.32

 

LOSERS

1.  IAMGOLD

IAG -6.86% $3.94

2.  NovaGold

NG -6.25% $3.45

3.  Tahoe Resources

TAHO -6.25% $3.60

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

 

- Chris Mullen, Gold Seeker Report

 

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

© Gold Seeker 2018

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