• Gold: 1,226.88 1.46
  • Silver: 14.67 -0.02
  • Euro: 1.158 0.000
  • USDX: 95.069 -0.152
  • Oil: 71.62 0.17

August 2: Gold and Silver Fall Again

Chris Mullen
|
Thursday, August 2nd

 

Close

Gain/Loss

Gold

$1209.10

-$7.00

Silver

$15.33

-$0.06

XAU

75.39

-0.63%

HUI

163.31

-0.69%

GDM

584.49

-0.81%

JSE Gold

1071.50

+3.96

USD

95.15

+0.50

Euro

115.90

-0.72

Yen

89.64

+0.08

Oil

$68.96

+$1.30

10-Year

2.983%

-0.022

T-Bond

142.4375

+0.21875

Dow

25326.16

-0.03%

Nasdaq

7802.69

+1.24%

S&P

2827.22

+0.49%

 
http://www.goldseek.com/news/2018/2018-08-02_14-02-23.jpg

 

The Metals:

 

Gold gained $4.40 to $1220.50 in Asia before it dropped back to $1213.40 in London and then bounced back to gains in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.58%. Silver slipped to as low as $15.288 and ended with a loss of 0.39%.

 

Euro gold remained at about €1043, platinum gained $7 to $822, and copper dropped a penny to about $2.72.

 

Gold and silver equities fell in afternoon trade and ended almost 1% lower on the day.

 

The Economy:

 

Trade-war fears aren’t really rattling investors, going by these gauges  MarketWatch

U.S. factory orders rise for second straight month  Reuters

Jobless claims cling near 45-year low  MarketWatch

 

Tomorrow brings July’s jobs data, the Trade deficit, and ISM nonmanufacturing.

 

The Markets:

 

Oil rose almost 2% on expectations for falling supplies in the near term.

 

The U.S. dollar index rose as the pound fell “after Governor Mark Carney said monetary policy needed to ‘walk not run’ and expressed concern about the risks of a cliff-edge Brexit.”

 

Treasuries edged higher on lingering trade tensions.

 

The Dow, Nasdaq, and S&P turned mostly higher in afternoon trade on earnings optimism.

 

Among the big names making news in the market today were Apple, Sonos, Tesla, Blue Apron, Red Robin, Fitbit, Square, and Cisco.

 

GATA Posts:

 

 

In socialist Venezuela, the U.S. dollar becomes king

 

The Statistics:

As of close of business: 8/1/2018

Gold Warehouse Stocks:

8,646,495.244

-

Silver Warehouse Stocks:

283,608,775.363

-60,030.80

 

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

796.956

25,622,946

US$31,132m

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$434m

Note: Change in Total Tonnes from yesterday’s data: SPDE subtracted 3.24 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 262.22: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,246.51: No change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) partnership with the Project WET Foundation, Vista Gold’s (VGZ) test results, Great Panther’s (GPL) project update, and Coeur’s (CDE) acquisition were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +8.27% $5.76

2.  Tahoe Resources

TAHO +3.47% $4.47

3.  New Gold

NGD +1.60% $1.27

 

LOSERS

1.  Endeavour Silver

EXK -11.85% $2.53

2.  Avino

ASM -7.63% $1.09

3.  Coeur

CDE -4.41% $6.51

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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