• Gold: 1,229.70 4.28
  • Silver: 14.77 0.09
  • Euro: 1.158 0.000
  • USDX: 95.064 0.03
  • Oil: 71.14 -0.48

August 22: Gold and Silver Hold Steady

Chris Mullen
|
Wednesday, August 22nd

 

Close

Gain/Loss

Gold

$1196.60

+$2.60

Silver

$14.76

UNCH

XAU

67.42

+0.96%

HUI

145.94

+1.03%

GDM

530.84

+0.67%

JSE Gold

933.82

-0.58

USD

95.04

-0.22

Euro

116.04

+0.31

Yen

90.64

-0.09

Oil

$67.86

+$2.02

10-Year

2.816%

-0.028

T-Bond

145.50

+0.375

Dow

25733.60

-0.34%

Nasdaq

7889.10

+0.38%

S&P

2861.82

-0.04%

 
http://www.goldseek.com/news/2018/2018-08-22_14-04-01.jpg

 

The Metals:

 

Gold dipped $1.10 to $1192.90 in Asia before it rallied to as high as $1201.50 in early New York trade and then fell back off into the close, but it still ended with a gain of 0.22%. Silver rose to as high as $14.873 and ended unchanged on the day.

 

Euro gold fell to about €1031, platinum remained at $792, and copper fell a couple of cents to about $2.67.

 

Gold and silver equities rose roughly 1% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Fed officials worry that trade war poses the biggest threat to 'strong' economy  CNBC

Fed suggests interest rate hike could come soon  Reuters

Existing-home sales tumble to a two-year low as buyers give up  MarketWatch

What Dr. Copper ordered: Trade war gives China metal a shot in the arm  Reuters

Fed chairman Powell assured senator he's not swayed by Trump's criticism  CNBC

 

Tomorrow brings Weekly jobless claims, Markit data, and New home sales.

 

The Markets:

 

Oil gained over 3% after the Energy Information Administration reported that crude inventories fell 5.8 million barrels, gasoline inventories rose 1.2 million barrels, and distillates rose 1.8 million barrels.

 

The U.S. dollar index remained weak on fed uncertainty.

 

Treasuries saw slight gains as the Dow, Nasdaq, and S&P traded mixed on political unrest.

 

Among the big names making news in the market today were Aramco, Lowe’s, Target, and Facebook.

 

GATA Posts:

 

 

Russian central bank buys more gold in face of tougher sanctions

Wall Street doesn't rule out a move by Trump to weaken dollar

Bank currency strategists offer 5 ways U.S. could reverse strong dollar trend

Germany calls for global payments system free of U.S.

 

The Statistics:

As of close of business: 8/21/2018

Gold Warehouse Stocks:

8,476,117.084

-

Silver Warehouse Stocks:

289,395,999.379

-94,587.915

 

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

768.702

24,714,543

US$29,567m

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$429m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.534 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 261.37: No change from yesterday’s data.

 

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

 

The Miners:

 

Royal Gold’s (RGLD) dividend and Avino’s (ASM) shelf registration statement were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +4.46% $1.64

2.  EMX Royalty

EMX +3.54% $1.17

3.  Turquoise

TRQ +3.31% $2.50

 

LOSERS

1.  Gold Fields

GFI -2.36% $2.48

2.  Seabridge

SA -1.81% $10.85

3.  Gold Resource

GORO-1.34% $5.15

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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