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Closing Report: Gold and Silver Gain Roughly 1% While Stocks Fall Back Off - April 7th 2016








Chris Mullen | Thursday April 7th

 

Close

Gain/Loss

Gold

$1240.30

+$17.00

Silver

$15.21

+$0.14

XAU

71.08

+1.72%

HUI

186.31

+2.85%

GDM

574.29

+2.57%

JSE Gold

2131.81

+69.12

USD

94.54

+0.07

Euro

113.69

-0.27

Yen

92.21

+1.11

Oil

$37.26

-$0.49

10-Year

1.691%

-0.064

T-Bond

167.09375

+1.75

Dow

17541.96

-0.98%

Nasdaq

4848.36

-1.47%

S&P

2041.91

-1.20%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold gained $19.87 to $1243.17 by midmorning in New York before it drifted back lower into midday, but it still ended with a gain of 1.39%.  Silver rose to as high as $15.357 and ended with a gain of 0.93%.

 

Euro gold rose to about €1091, platinum gained $13.50 to $954, and copper fell 7 cents to about $2.09.

 

Gold and silver equities rose about 3% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

4/02

267K

270K

276K

Consumer Credit

Feb

$17.3B

$14.4B

$14.8B

 

Tomorrow brings Wholesale Inventories for February expected at -0.2%.

 

The Markets:

 

Marketss Charts Intraday

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

 

Oil pared yesterday’s notable gains on speculation that supplies will resume building next week.

 

The U.S. dollar index held near unchanged as more strength in the yen was offset by Brexit driven weakness in the pound.

 

Treasuries rose markedly as the Dow, Nasdaq, and S&P fell roughly 1% “amid renewed concern that central bank policies have failed to revitalize growth.”

 

Among the big names making news in the market today were Boeing, Pacific Sunwear, and Tesla.

 

GATA Posts:

 

GATA

 

Puerto Rico passes bill allowing halt to debt payments

The gold miner excavating nothing but 13 years of red tape

 

The Statistics:

As of close of business: 4/6/2016

Gold Warehouse Stocks:

6,835,208.989

-

Silver Warehouse Stocks:

155,300,973.069

-145,672.732

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 exchange Traded Gold

 

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

819.596

26,350,841

US$32,728m

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$5,508m

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$6,089m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.42

1,074,449

US$1,304m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.161 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 186.96: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,411.09: No change from yesterday’s data.

 

The Miners:

 

Centamin’s (CEE.TO) production results, Silver Wheaton’s (SLW) closed financing, Tahoe’s (TAHO) dividend, and Coeur’s (CDE) production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Endeavour Silver

EXK +6.80% $2.67

2.  Kinross

KGC +5.87% $3.79

3.  Yamana

AUY +5.79% $3.29

 

LOSERS

1.  Freeport

FCX -7.91% $8.85

2.  Nevsun

NSU -4.17% $2.99

3.  Turquoise

TRQ -2.38% $2.46

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

Published:April 7th, 2016
Source: Gold-Seeker.com







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