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Closing Report: Gold Gains and Silver Rises Almost 2% - April 12th 2016








Chris Mullen | Tuesday, April 12th

 

Close

Gain/Loss

Gold

$1256.40

+$0.30

Silver

$16.17

+$0.27

XAU

79.90

+1.63%

HUI

207.11

+0.50%

GDM

635.34

+1.05%

JSE Gold

2220.87

+25.89

USD

93.99

-0.01

Euro

113.89

-0.21

Yen

92.16

-0.48

Oil

$42.17

+$1.81

10-Year

1.781%

+0.057

T-Bond

165.1875

-0.90625

Dow

17721.25

+0.94%

Nasdaq

4872.09

+0.80%

S&P

2061.72

+0.97%

 
 
Precious Metals Chart Intraday

 

The Metals:

 

Gold gained $6.35 to $1262.45 in Asia before it fell back to $1251.17 by midmorning in New York, but it then bounced back higher into the close and ended with a gain of 0.02%.  Silver rose to as high as $16.207 and ended with a gain of 1.7%. 

 

Euro gold rose to about €1103, platinum gained $11 to $998, and copper climbed 6 cents to about $2.15.

 

Gold and silver equities rose about 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

Mar

0.0%

-

-0.5%

Export Prices ex-ag.

Mar

0.3%

-

-0.5%

Import Prices

Mar

0.2%

-

-0.4%

Import Prices ex-oil

Mar

-0.1%

-

-0.1%

Treasury Budget

Mar

$108.0B

-

$52.9B

 

IMF says 'very real' Brexit risk could deal blow to world economy  Reuters

IMF Warns of Global Stagnation as Growth Outlook Cut Again  Bloomberg

 

Tomorrow brings PPI, Retail Sales, Business Inventories, and the Fed's Beige Book.

 

The Markets:

 

Precious Metals Chart Intraday

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

 

Oil climbed over 4% higher on reports that Saudi Arabia and Russia have reached a deal to freeze oil production.

 

The U.S. dollar index rose in early trade after Japan Finance Minister Taro Aso talked the yen lower, but it then fell back off into the close and ended near unchanged as the pound rose on quickening inflation data.

 

Treasuries fell as the Dow, Nasdaq, and S&P gained almost 1% on relief over oil’s rise.

 

Among the big names making news in the market today were Alibaba, Starbucks, and Uber.

 

GATA Posts:

 

 

Former Yellen adviser proposes sweeping reform of Fed system

 

The Statistics:

As of close of business: 4/11/2016

Gold Warehouse Stocks:

6,892,738.779

+78,523.74

Silver Warehouse Stocks:

154,596,542.716

-671,015.883

 

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

817.813

26,293,499

US$32,984m

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$5,580m

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$6,167m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$451m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

33.42

1,074,449

US$1,304m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 187.74: +0.48 change from yesterday’s data.

 

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

 

The Miners:

 

Buenaventura’s (BVN) preliminary 1Q16 production results and 2016 operating guidance, Jaguar’s (JAG.V) operating results, and Richmont’s (RIC) operational results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +6.76% $10.43

2.  Kinross

KGC +5.69% $4.46

3.  Richmont

RIC +4.77% $6.81

 

LOSERS

1.  Seabridge

SA -2.88% $14.82

2.  Harmony

HMY -2.88% $4.05

3.  Gold Fields

GFI -2.52% $4.25

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 12th, 2016
Source: Gold-Seeker.com







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