• Gold: 1,279.41 -0.35
  • Silver: 16.96 0.01
  • Euro: 1.174 0.000
  • USDX: 93.952 -0.078
  • Oil: 57.69 0.53

August 24: Gold and Silver Edge Lower Before Jackson Hole

Chris Mullen
|
Thursday, August 24th

 

Close

Gain/Loss

Gold

$1286.20

-$4.00

Silver

$16.95

-$0.13

XAU

86.13

+0.56%

HUI

200.12

+0.20%

GDM

648.91

+0.43%

JSE Gold

1332.55

-21.23

USD

93.29

+0.14

Euro

118.03

-0.16

Yen

91.37

-0.50

Oil

$47.43

-$0.98

10-Year

2.192%

+0.025

T-Bond

156.0625

-0.4375

Dow

21783.40

-0.13%

Nasdaq

6271.33

-0.11%

S&P

2438.97

-0.21%

 
http://www.goldseek.com/news/2017/8-24gsr.JPG

 

The Metals:

 

Gold ticked up to $1291.10 in Asia before it fell back to $1284.70 in London and then bounced back higher in morning New York trade, but it still ended with a loss of 0.31%.  Silver slipped to as low as $16.828 and with a loss of 0.76%.

 

Euro gold fell to about €1090, platinum gained $2 to $977, and copper climbed 5 cents to about $3.04.

 

Gold and silver equities waffled near unchanged and ended with modest gains.

 

The Economy:

 

Fearful of awakening market bears, Yellen and Draghi to tread softly at Jackson Hole  MarketWatch

Trump says U.S. debt ceiling 'mess' could have been avoided  Reuters

Existing-home sales tumble to 2017 low as supply crunch bites  MarketWatch

Below-Forecast U.S. Jobless Claims Signal Tight Labor Market  Bloomberg

 

Tomorrow brings Durable Goods Orders and Fed Chair Yellen’s speech in Jackson Hole.

 

The Markets:

 

Oil dropped 2% on persistent oversupply concerns.

 

The U.S. dollar index traded mostly slightly higher and treasuries fell while the Dow, Nasdaq, and S&P held near unchanged ahead of central bank speeches in Jackson Hole this weekend.

 

Among the big names making news in the market today were Abercrombie & Fitch, Perry Ellis, First Bitcoin Capital, and Sears.

 

GATA Posts:

 

 

Jim Rickards: The truth about the Fort Knox gold

Embry to KWN: Sure, there's gold in the vaults, but who claims ownership?

Ronan Manly: Mnuchin's PR visit to Fort Knox proved nothing about U.S. gold reserves

Gold researcher Ronan Manly interviewed by newsletter writer Jay Taylor

 

The Statistics:

As of close of business: 8/23/2017

Gold Warehouse Stocks:

8,697,722.750

-

Silver Warehouse Stocks:

216,537,698.510

+599,873.00

 

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

799.286

25,697,857

US$33,116m

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$5,719m

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$6,322m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$461m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 215.47: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,401.24: No change from yesterday’s data.

 

The Miners:

 

Sandstorm’s (SAND) early warning report, Royal Gold’s (RGLD) dividend, Prospero’s (PSL.V) drilling with Fortuna (FSM), and Silvercorp’s (SVM) exploration results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +8.02% $1.75

2.  Nevsun

NSU +8.02% $2.29

3.  IAMGOLD

IAG +3.86% $6.19

 

 

LOSERS

1.  Gold Fields

GFI -3.29% $4.12

2.  Taseko

TGB -2.16% $1.81

3.  Gold Standard

GSV -1.96% $1.75

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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