August 16: Gold and Silver Gain About 1%

Chris Mullen

Thursday, August 16th

	Close	Gain/Loss
Gold	$1614.00	+$9.90
Silver	$28.19	+$0.38
XAU	160.65	+3.23%
HUI	438.74	+3.40%
GDM	1261.00	+3.38%
JSE Gold	2491.06	+54.06
USD	82.38	-0.28
Euro	123.57	+0.68
Yen	126.08	-0.57
Oil	$95.60	+$1.27
10-Year	1.836%	+0.031
T-Bond	145.59375	-0.53125
Dow	13250.11	+0.65%
Nasdaq	3062.39	+1.04%
S&P	1415.51	+0.71%

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The Metals:

Gold saw slight losses in Asia and waffled near unchanged in London, but it then climbed to as high as $1617.76 in New York and ended with a gain of 0.62%. Silver surged to as high as $28.275 and ended with a gain of 1.37%.

Euro gold remained at about €1306, platinum jumped $46.70 to $1437.50, and copper rose 3 cents to about $3.38.

Gold and silver equities rose about 3% by late morning and remained near that level for the rest of the day.

Gold’s performance reflects continued challenging economic climate World Gold Council

World Gold Council: Central Bank Gold Demand Doubles in Second Quarter Fox Business

Gold Runs Out in Lisbon as Price Drop Compounds Money Misery Bloomberg

The Economy:

Report	For	Reading	Expected	Previous
Initial Claims	8/11	366K	368K	364K
Housing Starts	July	746K	763K	754K
Building Permits	July	812K	770K	760K
Philadelphia Fed	Aug	-7.1	-5.0	-12.9

Tomorrow at 9:55AM EST brings Michigan Sentiment for August expected at 72.2 and at 10AM is the Leading Economic Indicators report for July expected at 0.2%.

The Markets:

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

Oil rose and the U.S. dollar index fell as the euro jumped higher on comments from German Chancellor Angela Merkel that raised expectations of new action from the European Central Bank.

Treasuries fell as the Dow, Nasdaq, and S&P climbed higher on this morning’s unexpected jump in Building Permits.

Among the big names making news in the market today were Ford, Wal-Mart, Facebook, Cisco, Verizon, Comcast, and Applied Materials.

GATA Posts:

Chris Martenson: What to do when every market is manipulated

J.S. Kim on manipulation and disinformation in monetary metals markets

Chinese companies seen bidding for African Barrick Gold

The Statistics:

As of close of business: 8/15/2012

Gold Warehouse Stocks:	10,844,664.915	-14,917.60
Silver Warehouse Stocks:	138,490,802.714	+566,677.05

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)	SPDR® Gold Shares	1258.148	40,450,726	US$64,889m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)	Gold Bullion Securities	127.61	4,102,729	US$6,626m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam	ETFS Physical Gold	148.93	4,788,132	US$7,808m
Australian Stock Exchange (ASX)	Gold Bullion Securities	11.16	358,789	US$580m
Johannesburg Securities Exchange (JSE)	New Gold Debentures	41.26	1,326,494	US$2,121m

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 184.54: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 9,733.39: +42.21 change from yesterday’s data.

The Miners:

Midway’s (MDW) project progress, ITH’s (THM) management appointments, Barrick’s (ABX) preliminary discussions with China National Gold Group Corporation, Bear Creek’s (BCM.V) update on its development and exploration programs in Peru, Mines Management’s (MGN) second quarter results, and First Majestic’s (AG) awards were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1. Midway	MDW +10.81% $1.23
2. Great Panther	GPL +8.13% $1.73
3. Pan American	PAAS +6.71% $16.38

LOSERS

1. Jaguar	JAG -2.75% $1.06
2. Eurasian	EMXX-1.61%$1.83
3. Loncor	LON -0.95% $1.05

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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