• Gold: 1,293.87 0.20
  • Silver: 17.28 0.01
  • Euro: 1.178 -0.001
  • USDX: 93.662 0.049
  • Oil: 56.81 1.33

September 7: Gold and Silver Gain Over 1% Again

Chris Mullen
|
Thursday, September 7th

 

Close

Gain/Loss

Gold

$1348.30

+$14.40

Silver

$18.09

+$0.23

XAU

93.26

+2.10%

HUI

219.61

+2.33%

GDM

707.45

+1.85%

JSE Gold

1443.36

+2.18

USD

91.54

-0.75

Euro

120.24

+1.01

Yen

92.23

+0.67

Oil

$49.09

-$0.07

10-Year

2.049%

-0.056

T-Bond

158.9375

+1.3125

Dow

21784.78

-0.10%

Nasdaq

6397.87

+0.07%

S&P

2465.10

-0.02%

 

The Metals:

 

Gold gained throughout most of world trade and ended just off its last-minute high of $1349.40 with a gain of 1.08%.  Silver surged to as high as $18.124 and ended with a gain of 1.29%.

 

Euro gold rose to about €1122, platinum gained $13 to $1014, and copper fell slightly to about $3.14.

 

Gold and silver equities rose roughly 2% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Mortgage rates follow bond yields down to a 10-month low  MarketWatch

American workers labored harder in second quarter, revised productivity figures show  MarketWatch

Hurricane Harvey lifts U.S. jobless claims to more than two-year high  Reuters

Mnuchin says tax overhaul still in sight for 2017  Reuters

 

Tomorrow brings Wholesale Trade and Consumer Credit.

 

The Markets:

 

Oil traded mixed and ended slightly lower after the Energy Information Administration reported that crude inventories rose 4.6 million barrels, gasoline inventories fell 3.2 million barrels, and distillates fell 1.4 million barrels.

 

The U.S. dollar index dropped as the euro jumped higher after the ECB “broadly stuck to its outlook for growth and inflation while outlining concerns about the single currency’s strength.”

 

Treasuries rose on political and economic uncertainty that held the Dow, Nasdaq, and S&P near unchanged.

 

Among the big names making news in the market today were GoPro, Lyft, BMW, Barnes & Noble, Tesla, Fitbit, and Amazon.

 

GATA Posts:

 

 

Events converging against gold and silver suppression, GATA chairman says

CFTC sues California gold dealer Monex in fraud scheme

 

The Statistics:

As of close of business: 9/6/2017

Gold Warehouse Stocks:

8,696,886.850

-1,736.10

Silver Warehouse Stocks:

215,295,862.994

+464,099.53

 

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

837.124

26,914,381

US$36,146m

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$5,983m

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$6,612m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$483m

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 subtracted 2.956 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 218.53: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,202.97: -96.98 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) leadership in sustainability, Alamos Gold’s (AGI) construction schedule, Paramount’s (PZG) drill results, and Golden Minerals’ (AUMN) drill program were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  McEwen

MUX +5.60% $2.83

2.  AngloGold

AU +4.86% $10.78

3.  Alexco

AXU +4.60% $1.82

 

LOSERS

1.  Avino

ASM -1.74% $1.69

2.  Tahoe Resources

TAHO -1.45% $4.76

3.  Turquoise

TRQ -0.60% $3.30

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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