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Closing Report: Gold and Silver Fall With Stocks - May 4th 2016








Chris Mullen | Wednesday May 4th

 

Close

Gain/Loss

Gold

$1279.20

-$7.90

Silver

$17.34

-$0.09

XAU

83.26

-4.54%

HUI

210.00

-5.31%

GDM

653.27

-4.85%

JSE Gold

2124.66

-3.66

USD

93.22

+0.17

Euro

114.93

-0.06

Yen

93.52

-0.28

Oil

$43.78

+$0.13

10-Year

1.784%

-0.016

T-Bond

164.40625

+0.5625

Dow

17651.26

-0.56%

Nasdaq

4725.63

-0.79%

S&P

2051.12

-0.59%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold dropped almost 1% in London before it bounced back to $1289.33 at about 8:30AM EST and then fell to a new session low of $1272.11 by early afternoon in New York, but then rallied back higher in late trade and ended with a loss of just 0.61%.  Silver slipped to as low as $17.174 and ended with a loss of 0.52%.

 

Euro gold fell to about €1113, platinum lost $6 to $1055, and copper fell a couple of cents to about $2.19.

 

Gold and silver equities fell about 5% by midafternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Apr

156K

196K

194K

Trade Balance

Mar

-$40.4B

-$41.4B

-$47.0B

Productivity

Q1

-1.0%

-1.4%

-1.7%

Unit Labor Costs

Q1

4.1%

2.6%

2.7%

ISM Services

Apr

55.7

54.5

54.4

Factory Orders

Mar

1.1%

0.5%

-1.9%

 

Tomorrow brings Initial Jobless Claims.

 

The Markets:

 

Markets Charts Intraday

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

 

Oil pared early gains after the Energy Information Administration reported that crude inventories rose 2.8 million barrels, gasoline inventories rose 536,000 barrels, and distillates fell 1.3 million barrels.

 

The U.S. dollar index ended with modest gains on mixed economic data and weakness in the yen.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell again on continued concerns about global growth.

 

Among the big names making news in the market today were Credit Suisse, Target, Time Warner, and Takata.

 

GATA Posts:

 

 

Central banks conspire to harvest bitcoin's revolutionary technology

 

The Statistics:

As of close of business: 5/3/2016

Gold Warehouse Stocks:

7,386,271.420

+54,499.695

Silver Warehouse Stocks:

152,056,471.098

-10,750.888

 

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$34,017m

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$5,674m

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$6,271m

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: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.31: +3.00 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,538.31: No change from yesterday’s data

 

The Miners:

 

Primero’s (PPP) first quarter results, Randgold’s (GOLD) first quarter results, and Santacruz Silver’s (SCZ.V) optioned claims were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +4.92% $1.28

2.  Almaden

AAU +3.81% $1.09

 

LOSERS

1.  Primero

PPP -11.17% $1.67

2.  Randgold

GOLD-10.84% $85.29

3.  Great Panther

GPL -10.29% $1.57

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 4th, 2016
Source: Gold-Seeker.com







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