• Gold: 1,511.49 -2.75
  • Silver: 17.11 -0.00
  • Euro: 1.109 -0.000
  • USDX: 98.142 -0.094
  • Oil: 54.91 0.14

August 21: Gold and Silver Fall With the Dollar

Chris Mullen
|
Thursday, August 21st
 

Close

Gain/Loss

Gold

$1277.30

-$13.80

Silver

$19.47

-$0.03

XAU

99.17

-2.15%

HUI

238.83

-1.99%

GDM

722.16

-2.25%

JSE Gold

1489.41

-16.97

USD

82.16

-0.09

Euro

132.80

+0.20

Yen

96.32

-0.07

Oil

$93.96

+$0.51

10-Year

2.407%

-0.019

Bond

140.09375

+0.40625

Dow

17039.56

+0.36%

Nasdaq

4532.10

+0.12%

S&P

1992.38

+0.30%

 
 

The Metals:

 

Gold dropped $17.85 to $1273.25 by early afternoon in New York before it bounced back higher in the last few hours of trade, but it still ended with a loss of 1.07%. Silver slipped to as low as $19.32 in late Asian trade, but it then rallied back higher into the close and ended with a loss of just 0.15%.

 

Euro gold fell to about €962, platinum lost $7 to $1416, and copper remained at about $3.18.

 

Gold and silver equities fell about 2.5% by midday before they edged back higher in late trade, but they still ended with about 2% losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

8/16

298K

308K

312K

Existing Home Sales

July

5.15M

5.00M

5.03M

Philadelphia Fed

Aug

28.0

15.5

23.9

Leading Indicators

July

0.9%

0.7%

0.6%

 

Fed's George says U.S. economy is ready for a rate hike: CNBC Yahoo

U.S. factory activity expands at fastest pace in over four years in Aug: Markit Reuters

 

There are no major economic reports due out tomorrow, but there will likely be some news coming out of the fed’s meeting in Jackson Hole.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose on better than expected economic data that raised demand expectations.

 

The U.S. dollar fell and treasuries rose ahead of Yellen’s speech in Jackson Hole tomorrow.

 

The Dow, Nasdaq, and S&P traded mostly higher on optimism about the economy.

 

Among the big names making news in the market today were BofA, Dollar Tree, Sears, Family Dollar, Dollar General, Ford, and UPS.

 

GATA Posts:

 

 

New York Sun: The mystery of Jackson Hole

GATA Chairman Murphy to speak at Toronto conference Sept. 25-26

TF Metals Report: Just a coincidence

 

The Statistics:

Activity from: 8/20/2014

Gold Warehouse Stocks:

9,808,740.429

-46,279.894

Silver Warehouse Stocks:

177,079,389.824

-255,440.43

 

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

800.085

25,723,530

US$32,792m

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$5,671m

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$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.52

1,334,858

US$1,729m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.898 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.41: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,272.89: +44.77 change from yesterday’s data.

 

The Miners:

 

Franco Nevada’s (FNV) closed bought deal financing, Gold Fields (GFI) quarterly results, Alexco’s (AXU) closed bought deal financing, and Endeavour Silver’s (EXK) acquired property were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Midway

MDW +5.10% $1.03

2. Revett

RVM +5.00% $1.26

3. Rubicon

RBY +3.01% $1.37

LOSERS

1. Richmont

RIC -6.02% $2.35

2. Great Panther

GPL -4.96% $1.15

3. Royal Gold

RGLD -4.93% $75.79

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 2014

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