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Closing Report: Gold Falls Over 1% While Silver Rises With Stocks and the Dollar - April 13th 2016








Chris Mullen | Tuesday, April 13th

 

Close

Gain/Loss

Gold

$1243.20

-$13.20

Silver

$16.23

+$0.06

XAU

78.42

-1.85%

HUI

200.92

-2.99%

GDM

619.74

-2.44%

JSE Gold

2182.17

-38.70

USD

94.77

+0.78

Euro

112.78

-1.09

Yen

91.50

-0.62

Oil

$41.76

-$0.41

10-Year

1.762%

-0.019

T-Bond

165.8125

+0.78125

Dow

17908.28

+1.06%

Nasdaq

4947.42

+1.55%

S&P

2082.42

+1.00%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold dropped down to $1239.94 in London before it bounced back above $1250 in early New York trade, but it then drifted back lower into the close and ended with a loss of 1.05%.  Silver slipped to as low as $15.995 in London, but it then climbed up to as high as $16.306 in New York and ended with a gain of 0.37%.

 

Euro gold fell to about €1102, platinum lost $1 to $997, and copper climbed a couple of cents to about $2.17.

 

Gold and silver equities waffled near unchanged for most of the morning, but they then fell back off into the close and ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Mar

-0.1%

0.3%

-0.2%

Core PPI

Mar

-0.1%

0.2%

0.0%

Retail Sales

Mar

-0.3%

0.1%

0.0%

Retail Sales ex-auto

Mar

0.2%

0.4%

0.0%

Business Inventories

Feb

-0.1%

-0.1%

-0.1%

 

Yellen Repeats Uncertainty Warrants `Cautious Approach' by Fed Bloomberg

Economy in U.S. Delivers Modest Gains in Prices, Wages, Fed Says Bloomberg

U.S. mortgage applications jump as loan rates fall: MBA Reuters

 

Tomorrow brings Initial Jobless Claims and CPI.

 

The Markets:

 

Precious Metals Charts Intraday

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

 

Oil fell 1% after the Energy Information Administration reported that crude inventories rose 6.6 million barrels, gasoline inventories fell 4.2 million barrels, and distillates rose 500,000 barrels.

 

The U.S. dollar index rose along with the Dow, Nasdaq, and S&P after “a stronger-than-expected reading on Chinese exports sparked a global stock rally that brightened broader market sentiment.”

 

Treasuries added on to early gains after today’s $20 billion 10-year note auction sold at yield of1.765% with a bid to cover of 2.75.

 

Among the big names making news in the market today were GoPro, CSX, Peabody, Chipotle, Elm Tree, Volkswagen, and JPMorgan.

 

GATA Posts:

 

GATA

 

China's big four banks, StanChart, ANZ to join yuan gold benchmark

In India broadcast, GATA secretary slams central bank gold rigging and ETFs

China's yuan gold benchmark to launch with 18 members, source tells Reuters

GATA Chairman Murphy interviewed by CrushTheStreet.com

'Systemically important,' derivatives hustler CME Group gets account at Fed

 

The Statistics:

As of close of business: 4/12/2016

Gold Warehouse Stocks:

6,885,421.979

-7,316.80

Silver Warehouse Stocks:

154,709,183.836

+112,638.20

 

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

815.138

26,207,490

US$32,643m

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$5,528m

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$6,109m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.72

1,116,345

US$1,401m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.675 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 188.04: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,455.48: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) operational results and funding, Timmins Gold’s (TGD) preliminary production results, Great Panther’s (GPL) first quarter 2016 production results, and Fortuna Silver’s (FSM) first quarter 2016 production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Turquoise

TRQ +4.12% $2.78

2.  Richmont

RIC +3.82% $7.07

3.  Freeport

FCX +3.74% $10.82

 

LOSERS

1.  Harmony

HMY -5.19% $3.84

2.  Alexco

AXU -4.63% $1.03

3.  Seabridge

SA -4.52% $14.15

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 2016

Published:April 13th, 2016
Source: Gold-Seeker.com







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