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Closing Report|June 2nd: Gold and Silver End Mixed Before Jobs Day








Chris Mullen | Tursday June 2nd

 

Close

Gain/Loss

Gold

$1210.70

-$2.50

Silver

$15.99

+$0.02

XAU

80.64

+0.26%

HUI

203.11

+0.29%

GDM

632.82

+0.14%

JSE Gold

1986.09

+29.78

USD

95.52

+0.11

Euro

111.51

-0.38

Yen

91.84

+0.54

Oil

$49.17

+$0.16

10-Year

1.811%

-0.035

T-Bond

166.15625

+1.21875

Dow

17838.56

+0.27%

Nasdaq

4971.36

+0.39%

S&P

2105.26

+0.28%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold edged up to $1217.62 in Asia before it chopped back down to $1209.83 by late morning in New York and then rebounded, but it still ended with a loss of 0.21%.  Silver slipped to $15.936 in early New York trade, but it then bounced back higher into the close and ended with a gain of 0.13%.

 

Euro gold rose to about €1086, platinum lost $13.50 to $955, and copper remained at about $2.07.

 

Gold and silver equities rose about 1% by early afternoon before they fell back off into the close, but they still ended with small gains on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

May

173K

180K

166K

Initial Claims

5/28

267K

268K

268K

 

Tomorrow brings May’s jobs data, the Trade Balance, Factory Orders, and ISM Services.

 

The Markets:

 

Market Charts Intraday

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

 

Oil reversed early losses and closed slightly higher after bullish inventory data overcame disappointment over OPEC’s inability to come to a deal to set a ceiling for its production.

 

The U.S. dollar index ended modestly higher as the euro fell after the ECB’s growth and inflation projections left the door open for more stimulus measures at future meetings.

 

Treasuries rose ahead of tomorrow’s jobs data.

 

The Dow, Nasdaq, and S&P followed the oil market and turned morning losses into afternoon gains.

 

Among the big names making news in the market today were Vogue, Wal-Mart, and Petrobras.

 

GATA Posts:

 

Gold Anti-Trust Action Committee

 

Alasdair Macleod: Gold -- a reasonable correction?

 

The Statistics:

As of close of business: 6/1/2016

Gold Warehouse Stocks:

8,610,049.887

+86,111.535

Silver Warehouse Stocks:

154,101,489.652

+1,104,947.148

 

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

870.741

27,995,209

US$33,929m

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$5,381m

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$5,947m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.84.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,442.66.

 

The Miners:

 

WINNERS

1.  Gold Standard

GSV +5.96% $1.60

2.  Nevsun

NSU +4.01% $3.37

3.  Primero

PPP +3.57% $1.74

 

LOSERS

1.  Paramount

PZG -6.71% $1.39

2.  Almaden

AAU -3.74% $1.03

3.  Gold Resource

GORO-2.91% $3.00

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:June 2nd, 2016
Source: Gold-Seeker.com







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