• Gold: 1,222.66 -1.25
  • Silver: 14.53 -0.10
  • Euro: 1.151 0.001
  • USDX: 95.602 -0.059
  • Oil: 69.69 -0.3

September 4: Gold and Silver Fall with Stocks

Chris Mullen
|
Tuesday, September 4th

 

Close

Gain/Loss

Gold

$1193.40

-$5.70

Silver

$14.16

-$0.35

XAU

63.43

-4.25%

HUI

137.32

-4.13%

GDM

503.99

-2.70%

JSE Gold

1009.24

+6.23

USD

95.40

+0.31

Euro

115.88

-0.18

Yen

89.79

-0.30

Oil

$69.87

+$0.07

10-Year

2.892%

+0.030

T-Bond

144.03125

-0.65625

Dow

25952.48

-0.05%

Nasdaq

8091.25

-0.23%

S&P

2896.72

-0.17%

 
http://www.goldseek.com/news/2018/2018-09-04_14-02-01.jpg

 

The Metals:

 

Gold traded mostly slightly higher in holiday-thinned trade yesterday before it chopped down to as low as $1189.80 by midmorning in New York today and then bounced back higher into midday, but it still ended with a loss of 0.48% from last Friday’s close. Silver slipped to as low as $14.007 and ended with a loss of 2.41%.

 

Euro gold dropped to about €1030, platinum lost $17 to $766, and copper fell 5 cents to about $2.59.

 

Gold and silver equities fell roughly 4% in the first hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

American manufacturers growing at fastest pace in 14 years, ISM finds  MarketWatch

U.S. construction spending rises slightly in July  Reuters

Trump's trade war with China is 'the biggest risk to the global economy,' BlackRock exec says  CNBC

U.S. SUV sales surge again in August  Reuters

 

Tomorrow brings the Trade deficit and fed speakers.

 

The Markets:

 

Oil edged up on concerns about tropical storm Gordon in the Gulf of Mexico.

 

The U.S. dollar index rose on fears over trade wars that sent treasuries lower along with the Dow, Nasdaq, and S&P.

 

Among the big names making news in the market today were Verizon, Facebook, Transocean, and Nike.

 

GATA Posts:

 

 

Japan braces for gold smuggling rush in shadow of tax hike

Venezuela's Maduro spends $6 on gold certificate as pensioners queue for their money

Alasdair Macleod: The dollar, commodities, and inflation

India's central bank sells Treasuries and buys gold for first time in nearly a decade

Smart Investor magazine in Germany features GATA's work

Come to the New Orleans conference with GATA and enjoy a money-back guarantee

Cash ban only taught Indians not to trust the banking system

Amid Iran's currency crash, renting apartment requires two gold coins

 

The Statistics:

As of close of business: 8/31/2018

Gold Warehouse Stocks:

8,432,741.736

+2,175.034

Silver Warehouse Stocks:

294,696,532.015

+489,080.05

 

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

755.158

24,279,095

US$29,184m

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$5,288m

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$5,844m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$427m

Note: Change in Total Tonnes from Friday’s data: SPDR subtracted 2.65 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 263.52: No change from yesterday’s data.

 

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

 

The Miners:

 

Northern Dynasty’s (NAK) permitting update and Golden Minerals’ (AUMN) closed property sale were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +4.66% $2.47

2.  Harmony

HMY +1.81% $1.69

3.  EMX Royalty

EMX +0.88% $1.15

 

LOSERS

1.  Tahoe Resources

TAHO -19.48% $2.77

2.  Americas Silver

USAS -15.29% $2.05

3.  Yamana

AUY -6.12% $2.61

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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