• Gold: 1,221.19 -0.69
  • Silver: 14.37 -0.04
  • Euro: 1.141 -0.001
  • USDX: 96.465 -0.521
  • Oil: 57.08 0.29

August 29: Gold and Silver Gain with Stocks and Oil

Chris Mullen
|
Wednesday, August 29th

 

Close

Gain/Loss

Gold

$1206.30

+$5.00

Silver

$14.76

+$0.04

XAU

67.60

-0.23%

HUI

146.30

-0.04%

GDM

529.11

-0.12%

JSE Gold

978.12

+13.81

USD

94.57

-0.16

Euro

117.09

+0.13

Yen

89.63

-0.42

Oil

$69.51

+$0.98

10-Year

2.879%

-0.001

T-Bond

144.53125

+0.09375

Dow

26124.57

-0.23%

Nasdaq

8109.69

-0.99%

S&P

2914.04

-0.57%

 
http://www.goldseek.com/news/2018/2018-08-29_14-03-12.jpg

 

The Metals:

 

Gold saw slight gains in Asia and rose to as high as $1206.70 at about 9:15AM EST before it dropped towards unchanged by late morning in New York, but it then bounced back higher into the close and ended with a gain of 0.42%. Silver chopped between $14.66 and $14.789 and ended with a gain of 0.27%.

 

Euro gold rose to about €1031, platinum gained $6.50 to $793.50, and copper fell a couple of cents to about $2.71.

 

Gold and silver equities chopped near unchanged and ended mostly higher.

 

The Economy:

 

Pending home sales stumble as housing market momentum wanes  MarketWatch

Canada, U.S. set for second day of NAFTA talks amid growing optimism  Reuters

U.S. second-quarter GDP growth raised to 4.2 percent; consumer spending cut  Reuters

 

Tomorrow brings Weekly jobless claims, Personal income and spending, and CPI.

 

The Markets:

 

Oil rose over 1% after the Energy Information Administration reported that crude inventories fell 2.6 million barrels, gasoline inventories fell 1.6 million barrels, and distillates fell 800,000 barrels.

 

The U.S. dollar reversed early gains as the pound jumped higher “after an official from the European Union indicated that progress has been made in the Brexit negotiations.”

 

Treasuries held near unchanged while the Dow, Nasdaq, and S&P rose on hopes for progress over trade talks with Canada.

 

Among the big names making news in the market today were Square, Aston Martin, Dick's Sporting Goods, Sears, and Tilray.

 

GATA Posts:

 

 

BBC video tour of London silver vaults fails to produce the queen

Venezuela proclaims the solution for hyperinflation: paper gold

 

The Statistics:

As of close of business: 8/28/2018

Gold Warehouse Stocks:

8,430,566.702

-2,175.034

Silver Warehouse Stocks:

292,239,371.685

+14,558.85

 

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

759.869

24,430,550

US$29,410m

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 4.711 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.70: No change from yesterday’s data.

 

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

 

The Miners:

 

Taseko’s (TGB) court decision and Endeavour Silver’s (EXK) Company-wide initiative were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +3.73% $2.50

2.  Harmony

HMY +2.99% $1.72

3.  Coeur

CDE +2.50% $5.74

 

LOSERS

1.  EMX Royalty

EMX -4.17% $1.15

2.  Pretivm

PVG -2.21% $8.83

3.  New Gold

NGD -1.96% $1.00

Winners & Losers tracks NYSE 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 2018

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.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map