• Gold: 1,297.15 0.00
  • Silver: 16.97 -0.01
  • Euro: 1.195 0.000
  • USDX: 92.171 0.172
  • Oil: 50.74 0.03

September 6: Gold and Silver Edge Lower as Dollar Rebounds

Chris Mullen
|
Wednesday, September 6th

 

Close

Gain/Loss

Gold

$1333.90

-$7.10

Silver

$17.86

-$0.03

XAU

91.35

-1.14%

HUI

214.61

-1.45%

GDM

694.75

-1.18%

JSE Gold

1441.18

-4.78

USD

92.29

+0.28

Euro

119.23

+0.05

Yen

91.56

-0.45

Oil

$49.16

+$0.50

10-Year

2.105%

+0.036

T-Bond

157.65625

-0.625

Dow

21807.64

+0.25%

Nasdaq

6393.31

+0.28%

S&P

2465.54

+0.31%

 
http://www.goldseek.com/news/2017/2017-09-06_14-11-24.jpg

 

The Metals:

 

Gold chopped near unchanged in Asia and London before it fell back to $1332 in midafternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.53%.  Silver slipped to as low as $17.809 and ended with a loss of 0.17%.

 

Euro gold fell to about €1120, platinum lost $4 to $1001, and copper climbed a few cents to about $3.15.

 

Gold and silver equities fell about 2% by midafternoon before they rebounded, but they still ended over 1% lower on the day.

 

The Economy:

 

Trump cuts deal with Democrats in Congress to avert immediate budget and debt crisis  LA Times

Fed's Beige Book finds worry about health of U.S. auto industry  MarketWatch

Most U.S. companies turn growth up a notch in August, ISM survey finds  MarketWatch

U.S. trade deficit shows no sign of shrinking  MarketWatch

 

Tomorrow brings Productivity and Initial Jobless Claims.

 

The Markets:

 

Oil gained another 1% on resuming refinery operations.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P edged higher on news that lawmakers were able to reach a deal with President Trump to extend the U.S. debt limit and fund the government into December.

 

Among the big names making news in the market today were Boeing, Roku, Trivago, Landauer, and Nissan.

 

GATA Posts:

 

 

TF Metals Report: A massive surge in GLD 'inventory'

 

The Statistics:

As of close of business: 9/5/2017

Gold Warehouse Stocks:

8,698,622.950

+7,812.45

Silver Warehouse Stocks:

214,831,580.824

-1,780,702.393

 

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

840.080

27,009,415

US$36,121m

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$5,951m

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$6,577m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$479m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.868 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 217.93: -0.65 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,299.95: -4.29 change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) comments today regarding ongoing discussions between the Company and the Government of the Kyrgyz Republic, New Gold’s (NGD) project update, Seabridge Gold’s (SA) drill results, and Excellon’s (EXN.TO) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +3.61% $4.88

2.  Taseko

TGB +3.11% $1.99

3.  Freeport

FCX +1.83% $15.06

 

LOSERS

1.  Harmony

HMY -4.61% $2.07

2.  McEwen

MUX -3.60% $2.68

3.  Silvercorp

SVM -3.53% $3.28

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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