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Closing Report: Gold and Silver Close Lower in Mixed Trade - May 2nd 2016








Chris Mullen | Monday May 2nd

 

Close

Gain/Loss

Gold

$1290.00

-$2.90

Silver

$17.51

-$0.32

XAU

90.72

-2.28%

HUI

228.61

-2.08%

GDM

705.97

-1.07%

JSE Gold

2140.39

+77.84

USD

92.62

-0.43

Euro

115.22

+0.75

Yen

93.93

-0.10

Oil

$44.78

-$1.14

10-Year

1.865%

+0.046

T-Bond

162.09375

-1.21875

Dow

17891.16

+0.66%

Nasdaq

4817.59

+0.88%

S&P

2081.43

+0.78%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold gained $10.72 to $1303.62 by a little after 8AM EST, but it then chopped back lower in New York and ended with a loss of 0.22%.  Silver slipped to as low as $17.489 and ended with a loss of 1.79%.

 

Euro gold fell to about €1120, platinum gained $4 to $1077, and copper fell a couple of cents to about $2.26.

 

Gold and silver equities drifted lower for most of the day and ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

Apr

50.8

51.4

51.8

Construction Spending

Mar

0.3%

0.6%

1.0%

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Precious Metals Charts Intraday

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

 

Oil fell 2.5% on rising exports out of Iraq.

 

The U.S. dollar index dropped as the euro rose on decent manufacturing data out of Germany.

 

Treasuries fell on an unexpected jump in the prices-paid component of the Institute for Supply Management’s manufacturing index.

 

The Dow, Nasdaq, and S&P bounced back from last week’s losses.

 

Among the big names making news in the market today were Valeant, Baker Hughes, and CME Group.

 

GATA Posts:

 

 

Craig Wright revealed as Bitcoin creator Satoshi Nakamoto

Even the Australian Financial Review warns about paper gold

 

The Statistics:

As of close of business: 4/29/2016

Gold Warehouse Stocks:

7,250,269.882

-

Silver Warehouse Stocks:

151,718,677.668

-60,853.85

 

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

804.140

25,853,916

US$33,228m

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$5,734m

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$6,346m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$463m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.72

1,116,345

US$1,401m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 187.86: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,482.10: +44.38 change from yesterday’s data

 

The Miners:

 

Newmont’s (NEM) anniversary, Vista Gold’s (VGZ) first quarter results, and Santacruz Silver’s (SCZ.V) fourth quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Paramount

PZG +5.19% $1.62

2.  Gold Resource

GORO +3.04% $3.39

3.  DRDGOLD

DRD +0.92% $5.46

 

LOSERS

1.  Great Panther

GPL -14.35% $1.85

2.  Avino

ASM -8.67% $1.37

3.  First Majestic

AG -5.08% $10.10

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:May 2nd, 2016
Source: Gold-Seeker.com







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