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Closing Report: Gold and Silver End Slightly Lower As Dollar Bounces on Fedspeak - May 3rd 2016








Chris Mullen | Tuesday May 3rd

 

Close

Gain/Loss

Gold

$1287.10

-$2.90

Silver

$17.43

-$0.08

XAU

87.22

-3.86%

HUI

221.79

-2.99%

GDM

686.47

-2.61%

JSE Gold

2128.32

-12.07

USD

92.95

+0.33

Euro

115.09

-0.23

Yen

93.95

-0.01

Oil

$43.65

-$1.13

10-Year

1.800%

-0.065

T-Bond

163.78125

+1.59375

Dow

17750.91

-0.78%

Nasdaq

4763.22

-1.13%

S&P

2063.37

-0.87%

 
 
Precious Metals Charts

 

The Metals:

 

Gold gained $11.66 to $1301.66 at about 4AM EST before it dropped back down to $1283.54 by late morning in New York, but it then bounced back higher in early afternoon trade and ended with a loss of just 0.22%.  Silver slipped to as low as $17.343 and ended with a loss of 0.46%.

 

Euro gold fell to about €1119, platinum lost $16 to $1061, and copper fell 5 cents to about $2.21.

 

Gold and silver equities fell about 3% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Global factory growth nearly stalled in April: PMI  Reuters

 

Tomorrow brings ADP Employment, Productivity, the Trade Balance, Factory Orders, and ISM Services.

 

The Markets:

 

Markets Charts

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

 

Oil lost 2.5% ahead of tomorrow’s expected increase in inventories.

 

The U.S. dollar index reversed overnight gains and ended higher after Federal Reserve Bank of Atlanta President Dennis Lockhart called a June interest-rate increase “a real option”.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell as much as 1% on renewed worries about global growth.

 

Among the big names making news in the market today were Cummins, Pfizer, Halliburton, Sprint, and New York Times.

 

GATA Posts:

 

 

Robert Appel: The brink of economic collapse -- How did this happen?

 

The Statistics:

As of close of business: 5/2/2016

Gold Warehouse Stocks:

7,331,771.725

+81,501.843

Silver Warehouse Stocks:

152,067,220.436

+348,540.733

 

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

824.943

26,522,735

US$34,309m

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$5,718m

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$6,320m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$462m

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 added 20.803 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 188.31: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,538.31: +56.21 change from yesterday’s data

 

The Miners:

 

WINNER

1.  Fortuna

FSM +0.16% $6.19

 

LOSERS

1.  Freeport

FCX-11.37%$12.01

2.  DRDGOLD

DRD -7.33% $5.06

3.  Nevsun

NSU -6.15% $3.36

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:May 3rd, 2016
Source: Gold-Seeker.com







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