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Closing Report|May 9th: Gold and Silver Fall Almost 2% and 3%








Chris Mullen | Monday May 9th

 

Close

Gain/Loss

Gold

$1263.10

-$25.10

Silver

$16.97

-$0.48

XAU

82.47

-6.83%

HUI

210.58

-6.88%

GDM

657.83

-5.38%

JSE Gold

2104.64

-169.47

USD

94.15

+0.32

Euro

113.80

-0.24

Yen

92.27

-1.10

Oil

$43.44

-$1.22

10-Year

1.760%

-0.019

T-Bond

165.6875

+0.65625

Dow

17705.91

-0.20%

Nasdaq

4750.20

+0.30%

S&P

2058.69

+0.08%

 
 
precious Metals Charts Intraday

 

The Metals:

 

Gold fell $26 to $1262.20 by early afternoon in New York before it bounced back higher at times, but it still ended with a loss of 1.95%.  Silver slipped to as low as $16.93 and ended with a loss of 2.75%.

 

Euro gold fell to about €1110, platinum lost $35 to $1040, and copper fell 5 cents to about $3.10.

 

Gold and silver equities dropped about 6% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Tomorrow brings Wholesale Inventories for March expected at 0.2%.

 

The Markets:

 

precious Metals Charts Intraday

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

 

Oil fell almost 3% on easing worries about the impact of wildfires on Canada's oil output.

 

The U.S. dollar index rose as the yen fell after Japan's finance minister said Tokyo was ready to intervene in the currency market if needed.

 

Treasuries saw modest gains as the Dow, Nasdaq, and S&P traded mixed on worries about China and oil.

 

Among the big names making news in the market today were Valeant, Krispy Kreme, and LendingClub.

 

GATA Posts:

 

 

Paul Mylchreest: The death of the gold market -- reforming the LBMA and the true price of physical gold

 

The Statistics:

As of close of business: 5/06/2016

Gold Warehouse Stocks:

7,407,157.204

+184,003.719

Silver Warehouse Stocks:

152,461,287.778

-84,578.34

 

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

834.194

26,820,182

US$33,931m

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$5,616m

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$6,209m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

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 4.754 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.43: +1.05 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,454.50: No change from yesterday’s data.

 

The Miners:

 

Endeavour Mining’s (EDV.TO) governance changes, Golden Star’s (GSS) offering, Freeport’s (FCX) sale, AngloGold’s (AU) first quarter results, Eldorado’s (EGO) approval of the updated Technical Study, Silver Wheaton’s (SLW) first quarter results and dividend, and Endeavour Silver’s (EXK) acquisition were among the big stories in the gold and silver mining industry making headlines today.

 

WINNER

1.  Eldorado

EGO +2.19% $4.20

 

LOSERS

1.  AngloGold

AU -13.81% $14.11

2.  Gold Standard

GSV -12.73% $1.44

3.  Freeport

FCX-10.86%$10.52

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 9th, 2016
Source: Gold-Seeker.com







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