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Closing Report|May 12th: Gold and Silver Fall Almost 1% and 2%








Chris Mullen | Thursday May 12th

 

Close

Gain/Loss

Gold

$1268.50

-$9.20

Silver

$17.07

-$0.32

XAU

86.48

-1.99%

HUI

218.46

-2.69%

GDM

683.80

-1.44%

JSE Gold

2142.41

-7.40

USD

94.17

+0.32

Euro

113.73

-0.55

Yen

91.66

-0.60

Oil

$46.70

+$0.47

10-Year

1.757%

+0.020

T-Bond

165.6875

-0.50

Dow

17720.50

+0.05%

Nasdaq

4737.33

-0.49%

S&P

2064.11

-0.02%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold drifted down to $1265.93 at about 8:30AM EST before it popped back to $1280.71 in the next 90 minutes of trade, but it then fell back off again into midday and ended with a loss of 0.72%.  Silver slipped to as low as $17.021 and ended with a loss of 1.84%.

 

Euro gold fell to about €1115, platinum lost $13 to $1048, and copper dropped 3 cents to about $2.08.

 

Gold and silver equities fell about 3% by late morning before they chopped back higher into the close, but they still ended with modest losses on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

5/07

294K

270K

274K

Import Prices

Apr

0.3%

-

0.3%

Import Prices ex-oil

Apr

0.1%

-

-0.1%

Export Prices

Apr

0.5%

-

0.0%

Export Prices ex-ag.

Apr

0.5%

-

0.3%

 

Tomorrow brings PPI, Retail Sales, Business Inventories, and Michigan Sentiment.

 

The Markets:

 

Markets Charts Intraday

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

 

Oil rose 1% after the IEA released a report “which said global oil inventories will experience a “dramatic reduction” in the second half of the year.”

 

The U.S. dollar index edged higher as the yen fell on thoughts that the Bank of Japan may ease monetary policy as soon as next month.

 

Treasuries saw modest losses as the Dow, Nasdaq, and S&P traded mixed on concerns over slowing demand for iPhones.

 

Among the big names making news in the market today were Apple, Ralph Lauren, Nissan, and Bayer.

 

The Statistics:

As of close of business: 5/11/2016

Gold Warehouse Stocks:

7,562,214.055

+98,992.135

Silver Warehouse Stocks:

152,822,230.052

-203,615.388

 

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

841.920

27,068,579

US$34,623m

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$5,632m

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$6,225m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$456m

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 2.674 tonnes

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.78: No change from yesterday’s data.

 

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

 

The Miners:

 

Richmont’s (RIC) election of directors and first quarter results, Alamos Gold’s (AGI) first quarter results, B2Gold’s (BTG) first quarter results, Timmins Gold’s (TGD) project sale, Goldcorp’s (GG) Acquisition of Kaminak (KAM.V), and Pan American’s (PAAS) annual general and special meeting results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Silver Standard

SSRI +5.70% $9.27

2.  DRDGOLD

DRD +4.68% $5.81

3.  Richmont

RIC +3.95% $8.15

 

LOSERS

1.  Harmony

HMY -7.25% $3.20

2.  Gold Resource

GORO-5.14% $3.32

3.  Gold Fields

GFI -5.05% $4.14

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 12th, 2016
Source: Gold-Seeker.com







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