• Gold: 1,292.07 1.13
  • Silver: 17.11 0.03
  • Euro: 1.185 -0.000
  • USDX: 93.22 0.013
  • Oil: 58.43 -0.08

August 31: Gold and Silver Gain Over 1%

Chris Mullen
|
Thursday, August 31st

 

Close

Gain/Loss

Gold

$1323.40

+$15.20

Silver

$17.61

+$0.20

XAU

90.12

+2.23%

HUI

212.54

+1.95%

GDM

684.19

+1.61%

JSE Gold

1434.81

+6.14

USD

92.65

-0.25

Euro

119.06

+0.19

Yen

91.03

+0.32

Oil

$47.23

+$1.27

10-Year

2.121%

-0.017

T-Bond

157.375

+0.46875

Dow

21948.10

+0.25%

Nasdaq

6428.66

+0.95%

S&P

2471.65

+0.57%

 
http://www.goldseek.com/news/2017/8-31gsr.JPG

 

The Metals:

 

Gold fell $7.60 to $1300.60 in Asia and saw slight losses for most of trade in London, but it then steadily rose during all of the session in New York and ended at its last-minute high of $1323.40 and ended with a gain of 1.16%.  Silver climbed to as high as $17.619 and ended with a gain of 1.15%.

 

Euro gold rose to about €1112, platinum gained $10.50 to $996, and copper climbed a couple of cents to about $3.08.

 

Gold and silver equities climbed higher throughout most of trade and ended with about 2% gains.

 

The Economy:

 

Mortgage rates fall to fresh 2017 low as Trump trade continues to reverse  MarketWatch

Pending home sales slip in July for fourth time in five months  MarketWatch

Chicago PMI holds steady at 58.9 in August  MarketWatch

U.S. jobless claims rise marginally as labor market tightens  Reuters

U.S. Consumer Spending, Incomes Signal Stable Second-Half Start  Bloomberg

 

Tomorrow brings August's jobs data, the PMI Manufacturing Index, the ISM Manufacturing Index, Construction Spending, and Consumer Sentiment.

 

The Markets:

 

Oil rose almost 3% on reduced refining capacity.

 

The U.S. dollar index erased early gains and ended lower “after Treasury Secretary Steven Mnuchin didn’t promote a strong-dollar policy as is traditional for Treasury officials, suggesting a weaker buck may be good for trade.”

 

Treasuries saw slight gains on mixed economic data that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Campbell, Disney, Wells Fargo, Novartis, Bitcoin, and GE.

 

GATA Posts:

 

 

Six global banks join forces to create digital currency

Bitcoin exchange sees complaints soar

 

The Statistics:

As of close of business: 8/30/2017

Gold Warehouse Stocks:

8,693,639.700

-2,539.85

Silver Warehouse Stocks:

217,741,011.327

+156,914.35

 

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$34,421m

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$5,855m

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$6,465m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 216.96: -2.63 change from yesterday’s data.

 

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

 

The Miners:

 

Eldorado Gold’s (EGO) arbitration process with Greece and Harmony’s (HMY) recovered miners were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +9.06% $4.36

2.  Endeavour Silver

EXK +7.33% $2.49

3.  First Majestic

AG +6.48% $7.07

 

 

LOSERS

1.  Buenaventura

BVN-1.97% $13.43

2.  Almaden

AAU -0.84% $1.18

3.  Gold Standard

GSV -0.56% $1.78

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

 

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© Gold Seeker 2017

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