• Gold: 1,199.16 -1.26
  • Silver: 14.13 -0.04
  • Euro: 1.170 0.002
  • USDX: 94.404 -0.138
  • Oil: 70.15 1.28

September 5: Gold and Silver Edge Higher

Chris Mullen
|
Wednesday, September 5th

 

Close

Gain/Loss

Gold

$1197.00

+$3.60

Silver

$14.19

+$0.03

XAU

63.07

-0.58%

HUI

136.24

-0.79%

GDM

498.82

-1.02%

JSE Gold

1020.68

+11.44

USD

95.13

-0.27

Euro

116.32

+0.44

Yen

89.74

-0.05

Oil

$68.72

-$1.15

10-Year

2.900%

+0.008

T-Bond

143.15625

+0.03125

Dow

25974.99

+0.09%

Nasdaq

7995.17

-1.19%

S&P

2888.60

-0.28%

 
http://www.goldseek.com/news/2018/2018-09-05_14-01-25.jpg

 

The Metals:

 

Gold held near unchanged in Asia before it climbed up to $1198.00 in morning New York trade and then drifted back lower at times, but it still ended with a gain of 0.3%. Silver rose to as high as $14.231 and ended with a gain of 0.21%.

 

Euro gold dropped to about €1029, platinum gained $11 to $777, and copper climbed 2 cents to about $2.61.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Fed's Bullard makes case again for halting interest rate rises  Reuters

U.S. Trade Gap Widens Most Since 2015; China Deficit Hits Record  Bloomberg

Weekly mortgage applications are stuck in a rut as rates rise  CNBC

 

Tomorrow brings ADP employment, Weekly jobless claims, Productivity, Unit labor costs, Markit services PMI, ISM nonmanufacturing, and Factory orders.

 

The Markets:

 

Oil fell almost 2% after tropical storm Gordon had little impact on operations in the Gulf of Mexico.

 

The U.S. dollar index fell as the euro and pound rose “after the British and German governments were said to have abandoned key Brexit demands to potentially ease the path for the U.K. to strike a deal with the European Union.”

 

Treasuries saw decent gains as the Dow, Nasdaq, and S&P traded mostly lower “on concerns stemming from U.S. lawmakers grilling Twitter and Facebook executives over foreign efforts to tilt U.S. politics.”

 

Among the big names making news in the market today were GE, Fox, and Bayer.

 

GATA Posts:

 

 

GoldMoney's Macleod, interviewed on 'Keiser Report,' envisions a gold-backed yuan

 

The Statistics:

As of close of business: 9/4/2018

Gold Warehouse Stocks:

8,388,696.107

-44,045.629

Silver Warehouse Stocks:

295,357,407.659

+660,875.644

 

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

746.915

24,014,062

US$28,726m

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$5,317m

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$5,875m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$429m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 8.243 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 264.25: +0.73 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,259.67: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) lifted lock-out, Zijin’s take-over bid for Nevsun (NSU), Great Panther’s (GPL) project update, and Golden Minerals’ (AUMN) positive Preliminary Economic Assessment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Nevsun

NSU +17.91% $4.41

2.  Harmony

HMY +4.73% $1.77

3.  Sibanye

SBGL +4.45% $2.58

 

LOSERS

1.  Yamana

AUY -3.83% $2.51

2.  Pretivm

PVG -3.62% $7.71

3.  IAMGOLD

IAG -3.06% $3.80

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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