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Closing Report|May 16th: Gold and Silver Erase Notable Early Gains But Still End Slightly Higher








Chris Mullen | Monday May 16th

 

Close

Gain/Loss

Gold

$1274.40

+$0.70

Silver

$17.14

+$0.04

XAU

89.20

+2.55%

HUI

227.4

+2.71%

GDM

700.85

+2.01%

JSE Gold

2215.91

+13.53

USD

94.56

-0.01

Euro

113.20

+0.12

Yen

91.77

-0.28

Oil

$47.72

+$1.51

10-Year

1.753%

+0.048

T-Bond

165.65625

-1.0625

Dow

17710.71

+1.00%

Nasdaq

4775.45

+1.22%

S&P

2066.66

+0.98%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold gained $14.63 to $1288.33 in London before it chopped back down to $1271.08 by early afternoon in New York, but it then bounced back higher into the close and ended with a gain of 0.05%.  Silver climbed up to $17.39 before it fell back to $17.097, but it still ended with a gain of 0.23%.

 

Euro gold remained at about €1126, platinum lost $1 to $1048, and copper climbed a couple of cents to about $2.10.

 

Gold and silver equities rose over 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Empire Manufacturing

May

-9.0

6.2

9.6

NAHB Housing Market Index

May

58

59

58

Net Long-Term TIC Flows

Mar

$78.1B

-

$72.0B

 

Tomorrow brings CPI, Housing Starts, Building Permits, Industrial Production, and Capacity Utilization.

 

The Markets:

 

Markets Charts Intraday

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

 

Oil rose over 3% on worries about global supply outages.

 

The U.S. dollar index traded mostly lower on poor economic data.

 

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

 

Among the big names making news in the market today were Freeport, Urbancorp, Pfizer, and Apple.

 

GATA Posts:

 

 

Libya's central bank needs gold stashed in safe but code is in dispute

China's ICBC buys 2,000-ton London gold vault from Barclays

Gold depository could soon be on its way to Texas

Central bankers' wisdom faulted as gold holdings surge 25%

There's a world war against gold, economist Fekete says

 

The Statistics:

As of close of business: 5/13/2016

Gold Warehouse Stocks:

7,595,686.896

+33,576.94

Silver Warehouse Stocks:

153,461,709.112

+354,187.821

 

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

851.132

27,364,735

US$35,178m

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$5,664m

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$6,259m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$457m

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 5.943 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.38: +0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,421.95: No change from yesterday’s data.

 

The Miners:

 

NovaGold’s (NG) AGM results, Alamos Gold’s (AGI) AGM results, and Eldorado Gold’s (EGO) mine sales were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +12.00% $1.68

2.  Primero

PPP +9.19% $2.02

3.  Gold Resource

GORO +7.25% $3.70

 

LOSERS

1.  Coeur

CDE -2.83% $8.25

2.  Nevsun

NSU -0.85% $3.50

3.  Turquoise

TRQ -0.35% $2.81

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 16th, 2016
Source: Gold-Seeker.com







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