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Closing Report|May 23rd: Gold and Silver End Slightly Lower With Stocks, Dollar, and Oil








Chris Mullen | Monday May 23rd

 

Close

Gain/Loss

Gold

$1249.60

-$2.90

Silver

$16.40

-$0.11

XAU

85.09

-0.41%

HUI

214.16

-1.07%

GDM

663.42

-0.40%

JSE Gold

2083.46

+13.68

USD

95.26

-0.06

Euro

112.17

-0.05

Yen

91.51

+0.70

Oil

$48.08

-$0.33

10-Year

1.838%

-0.011

T-Bond

164.5625

+0.3125

Dow

17492.93

-0.05%

Nasdaq

4765.78

-0.08%

S&P

2048.04

-0.21%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold fell $8.92 to $1243.58 at about 9:30AM EST, but it then rallied back higher for most of the rest of trade and ended with a loss of just 0.23%.   Silver slipped to as low as $16.311 in Asia before it also rallied back higher, but it still ended with a loss of 0.67%.

 

Euro gold fell to about €1114, platinum lost $10 to $1009, and copper remained at about $2.06.

 

Gold and silver equities fell as much as 3% at the open before they rose to see about 1% gains by midafternoon, but they then fell back off into the close and ended roughly 1% lower.

 

The Economy:

 

Fed Shouldn't Kid Itself on Rate Risk, Says $200 Billion Manager Bloomberg

Fed's Williams sees U.S. rate hikes despite Brexit risk, more in 2017 Reuters

Fed's Bullard: rates too low for too long could be risky Reuters

 

Tomorrow brings New Home Sales.

 

The Markets:

 

Precious Metals Charts Intraday

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

 

Oil fell after Iran vowed to ramp up output.

 

The U.S. dollar index edged lower as the yen rose after Japan reported a larger than expected trade surplus.

 

Treasuries saw slight gains as The Dow, Nasdaq, and S&P traded mixed and ended modestly lower on interest rate uncertainty.

 

Among the big names making news in the market today were Bank of America, Tribune, and Bayer.

 

GATA Posts:

 

Gold Anti-Trust Action Committee

 

Kinross' Paul Rollinson and after the gold rush

 

The Statistics:

As of close of business: 5/20/2016

Gold Warehouse Stocks:

7,761,370.088

+771.60

Silver Warehouse Stocks:

154,297,387.448

-268,434.756

 

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

869.256

27,947,453

US$34,811m

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$5,542m

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$6,120m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.913 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.43: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,451.53: +29.58 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Avino

ASM +9.38% $1.60

2.  Gold Standard

GSV +9.20% $1.78

3.  Seabridge

SA +5.61% $13.87

 

LOSERS

1.  DRDGOLD

DRD -4.95% $5.18

2.  NovaGold

NG -4.52% $5.71

3.  Paramount

PZG -3.92% $1.47

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 23rd, 2016
Source: Gold-Seeker.com







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