• Gold: 1,291.55 -9.00
  • Silver: 16.94 -0.20
  • Euro: 1.192 0.003
  • USDX: 92.311 -0.197
  • Oil: 50.62 -0.09

September 8: Gold and Silver Gain Almost 2% on the Week

Chris Mullen
|
Friday, September 8th

 

Close

Gain/Loss

On Week

Gold

$1346.40

-$1.90

+1.56%

Silver

$18.00

-$0.09

+1.69%

XAU

91.65

-1.73%

+1.23%

HUI

216.70

-1.32%

+1.70%

GDM

702.26

-0.70%

+5.00%

JSE Gold

1441.90

-1.46

+1.84%

USD

91.34

-0.20

-1.59%

Euro

120.35

+0.11

+1.44%

Yen

92.82

+0.59

+2.27%

Oil

$47.48

-$1.61

+0.40%

10-Year

2.056%

+0.007

-4.81%

Bond

158.65625

UNCH

+1.42%

Dow

21797.79

+0.06%

-0.86%

Nasdaq

6360.19

-0.59%

-1.17%

S&P

2461.43

-0.15%

-0.61%

 
http://www.goldseek.com/news/2017/2017-09-08_14-04-43.jpg

 

The Metals:

 

Gold gained $9.10 to $1357.40 in Asia before it fell back to $1342.90 at about 11AM EST and then bounced back higher into the close, but it still ended with a loss of 0.14%.  Silver slipped to as low as $17.898 and ended with a loss of 0.5%.

 

Euro gold fell to about €1119, platinum lost $7 to $1007, and copper dropped 11 cents to about $3.03.

 

Gold and silver equities fell over 2% by late morning before they edged back higher in late trade, but they still ended with roughly 1% losses on the day.

 

The Economy:

 

U.S. wholesale inventories revised higher in July  Reuters

Americans borrow big in July, Fed credit report shows  MarketWatch

 

The Markets:

 

Oil dropped over 3% on reports of slower than expected refinery recoveries from the impacts of Hurricane Harvey.

 

The U.S. dollar index fell and treasuries traded mixed as the Dow, Nasdaq, and S&P chopped back off into close and ended mostly lower on concerns about Hurricane Irma.

 

Among the big names making news in the market Friday were Uber, SpaceX, Monsanto, and Equifax.

 

GATA Posts:

 

 

Venezuela's Maduro says he will shun U.S. dollar in favor of yuan, others

Gold miners take hit as Western Australian government breaks royalties promise

 

The Statistics:

Activity from: 9/7/2017

Gold Warehouse Stocks:

8,694,895.450

-1,991.40

Silver Warehouse Stocks:

216,675,701.764

+1,379,838.77

 

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

836.866

26,906,088

US$36,219m

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$5,981m

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$6,611m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$483m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.35

1,072,201

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.258 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 218.53: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,173.58: -29.39 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Gold Standard

GSV +2.12% $1.93

2.  Pretivm

PVG +2.07% $8.86

3.  Avino

ASM +0.59% $1.70

 

LOSERS

1.  Freeport

FCX -6.38% $14.24

2.  Great Panther

GPL -6.16% $1.37

3.  Almaden

AAU -4.58% $1.25

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2017

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