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Closing Report|May 31st: Gold Gains While Silver Slips With Stocks








Chris Mullen | Tuesday May 31st

 

Close

Gain/Loss

Gold

$1215.10

+$4.80

Silver

$15.98

-$0.22

XAU

80.57

+1.47%

HUI

201.32

+1.23%

GDM

627.03

+1.02%

JSE Gold

1911.04

-21.84

USD

95.86

+0.10

Euro

111.29

+0.18

Yen

90.32

-0.40

Oil

$49.10

-$0.23

10-Year

1.834%

-0.017

T-Bond

164.46875

+0.53125

Dow

17787.13

-0.48%

Nasdaq

4948.05

+0.29%

S&P

2096.95

-0.10%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold fell almost 1% to $1200.31 in Asia on Monday, but it then bounced back to as high as $1218.21 in New York today and ended with a gain of 0.40% from Friday’s close.  Silver dropped to as low as $15.871 in holiday thinned trade yesterday before it climbed back towards unchanged in Asia today, but it then drifted back lower in London and New York and ended with a loss of 1.36%.

 

Euro gold rose to about €1092, platinum lost $1 to $974, and copper fell a few cents to about $2.09.

 

Gold and silver equities rose over 3% by midafternoon before they fell back off into the close, but they still ended with over 1% gains on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Apr

0.4%

0.4%

0.4%

Personal Spending

Apr

1.0%

0.7%

0.0%

PCE Prices – Core

Apr

0.2%

0.2%

0.1%

Case-Shiller 20-city Index

Mar

5.4%

5.1%

5.4%

Chicago PMI

May

49.3

50.9

50.4

Consumer Confidence

May

92.6

96.2

94.7

 

Tomorrow brings Construction Spending, the ISM Index, and the Fed's Beige Book.

 

The Markets:

 

Market Charts Intraday

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

 

Oil erased early gains and ended 0.5% lower after UAE Oil Minister Suhail bin Mohammed al-Mazroui made comments that indicated little action from OPEC at their meeting this Thursday.

 

The U.S. dollar index traded mixed and treasuries edged higher on uncertain economic data that sent the Dow and S&P lower ahead of this Friday’s jobs data.

 

Among the big names making news in the market today were VW, Allergan, and Verizon.

 

GATA Posts:

 

Gold Anti-Trust Action Committee

 

Brandon White: Investing is about being moral as well as right

New York Sun: Libertarians without gold

 

The Statistics:

As of close of business: 5/27/2016

Gold Warehouse Stocks:

8,452,707.900

-7,233.75

Silver Warehouse Stocks:

153,897,742.173

+300,649.37

 

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

868.662

27,928,350

US$33,840m

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$5,390m

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$5,957m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$437m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.29: -0.60 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10, 10,442.66: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) drill results, Freeport’s (FCX) completed sale, Gold Standard’s (GSV) drilling, Centerra’s (CG.TO) notice of arbitration, and IMPACT Silver’s (IPT.V) first quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +6.57% $1.46

2.  Richmont

RIC +5.83% $7.81

3.  NovaGold

NG +5.49% $5.38

 

LOSERS

1.  Gold Standard

GSV -3.70% $1.56

2.  Great Panther

GPL -2.78% $1.40

3.  Alexco

AXU -1.83% $1.07

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 31st, 2016
Source: Gold-Seeker.com







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