• Gold: 1,198.87 -0.10
  • Silver: 14.24 -0.06
  • Euro: 1.174 -0.001
  • USDX: 94.22 0.304
  • Oil: 70.79 0.54

August 24: Gold and Silver Jump 2% to Close Out the Week

Chris Mullen
|
Friday, August 24th

 

Close

Gain/Loss

On Week

Gold

$1205.60

+$20.10

+1.81%

Silver

$14.81

+$0.31

UNCH

XAU

67.68

+3.65%

+2.67%

HUI

146.81

+3.67%

+3.08%

GDM

527.96

+2.22%

+1.64%

JSE Gold

951.11

+17.15

+2.11%

USD

95.13

-0.50

-1.03%

Euro

116.23

+0.81

+1.58%

Yen

90.03

+0.04

-0.60%

Oil

$68.72

+$0.89

+4.26%

10-Year

2.813%

-0.010

-1.71%

Bond

145.84375

+0.1875

+0.80%

Dow

25790.35

+0.52%

+0.47%

Nasdaq

7945.98

+0.86%

+1.66%

S&P

2874.69

+0.62%

+0.86%

 
http://www.goldseek.com/news/2018/2018-08-24_14-07-43.jpg

 

The Metals:

 

Gold soared $22.90 to as high as $1208.40 by midday in New York before it edged back lower in afternoon trade, but it still ended with a gain of 1.7%. Silver surged to as high as $14.87 and ended with a gain of 2.14%.

 

Euro gold rose above €1037, platinum gained $13 to $788, and copper climbed 6 cents to about $2.70.

 

Gold and silver equities gained roughly 4% by midday before they drifted back lower into the close, but they still ended about 3% higher on the day.

 

The Economy:

 

Powell sees 'further, gradual' rate hikes ahead as economy continues to hum  CNBC

Fed Chair Powell: further rate hikes best way to protect recovery  Reuters

Durable goods orders drop 1.7% in July, vs 0.5% decline expected  CNBC

Fed's Bullard wants to pause rate hikes, Mester does not  Reuters

Fed should stand pat, Bullard says  MarketWatch

Fed’s George backs two more interest-rate hikes this year, ‘several more’ in 2019  MarketWatch

 

The Markets:

 

Oil rose over 1% and the U.S. dollar index fell markedly while treasuries rose along with the Dow, Nasdaq, and S&P on Powell’s mostly dovish remarks in Jackson Hole.

 

Among the big names making news in the market Friday were Gap, AMD, T-Mobile, Maersk, Victoria's Secret, Williams-Sonoma, and Ross Stores.

 

The Statistics:

Activity from: 8/23/2018

Gold Warehouse Stocks:

8,432,741.736

-1,929.00

Silver Warehouse Stocks:

291,098,484.409

+593,343.20

 

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

767.230

24,667,210

US$29,536m

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$433m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.472 tonnes.

 

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:

 

WINNERS

1.  Gold Standard

GSV +10.67% $1.66

2.  Pretivm

PVG +9.78% $9.09

3.  NovaGold

NG +8.41% $3.74

 

LOSERS

1.  EMX Royalty

EMX -0.86% $1.15

2.  Turquoise

TRQ -0.82% $2.43

3.  Sibanye

SBGL -0.43% $2.31

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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