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Weekly Wrap-Up|June 3rd: Gold and Silver Soar Higher After Jobs Report








Chris Mullen | Tursday June 3rd

 

Close

Gain/Loss

On Week

Gold

$1243.90

+$33.20

+2.78%

Silver

$16.39

+$0.40

+1.17%

XAU

89.06

+10.44%

+12.17%

HUI

226.61

+11.57%

+13.95%

GDM

694.55

+9.75%

+11.90%

JSE Gold

2124.93

+138.84

+8.42%

USD

93.98

-1.54

-1.06%

Euro

113.55

+2.02

+2.17%

Yen

93.78

+1.92

+3.51%

Oil

$48.62

-$0.55

-1.44%

10-Year

1.704%

-0.107

-7.94%

Bond

168.09375

+2.03125

+2.50%

Dow

17807.06

-0.18%

-0.37%

Nasdaq

4942.51

-0.58%

+0.18%

S&P

2099.13

-0.29%

+0.00%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold jumped about $30 higher after the release of this morning’s jobs data and remained near that level for the rest of the day.  Silver surged to as high as $16.441 and ended with a gain of 2.5%.

 

Euro gold rose to about €1095, platinum gained $25 to $980, and copper climbed 5 cents to about $2.12.

 

Gold and silver equities gained nearly 10% in the first 40 minutes of trade before they pared back a bit into midday, but they then rallied back higher again in afternoon trade and ended roughly 11% higher the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

May

38K

155K

123K

Unemployment Rate

May

4.7%

4.9%

5.0%

Hourly Earnings

May

0.2%

0.2%

0.4%

Average Workweek

May

34.4

34.5

34.4

Trade Balance

Apr

-$37.4B

-$41.6B

-$35.5B

Factory Orders

Apr

1.9%

1.6%

1.7%

ISM Services

May

52.9

55.4

55.7

 

The BLS net birth/death adjustment added 224,000 payrolls to May’s data.  Private Payrolls rose 25,000.

 

All of this week’s other economic reports:

 

Initial Claims - 5/28

267K v. 268K

 

ADP Employment - May

173K v. 166K

 

ISM Index - May

51.3 v. 50.8

 

Construction Spending - April

-1.8% v. 1.5%

 

Consumer Confidence - May

92.6 v. 94.7

 

Chicago PMI - May

49.3 v. 50.4

 

Case-Shiller 20-city Index - March

5.4% v. 5.4%

 

Personal Income - April

0.4% v. 0.4%

 

Personal Spending - April

1.0% v. 0.0%

 

PCE Prices - Core - April

0.2% v. 0.1%

 

Next week’s economic highlights include Productivity and Consumer Credit on Tuesday, Initial Jobless Claims and Wholesale Inventories on Thursday, and Michigan Sentiment and the Treasury Budget on Friday.

 

The Markets:

 

Market Charts Intraday

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

 

Oil fell over 1%, the U.S. dollar index tumbled lower, and treasuries soared higher after this morning’s dismal jobs report sent the Dow, Nasdaq, and S&P nearly 1% lower at the open, but stocks then climbed back higher into the close and ended with only modest losses.

 

Among the big names making news in the market Friday were Citigroup, Epson, and BMW.

 

GATA Posts:

 

Gold Anti-Trust Action Committee

 

Negative-yield debt breaks $10 trillion level for first time

 

The Statistics:

Activity from: 6/2/2016

Gold Warehouse Stocks:

8,658,317.910

+48,268.023

Silver Warehouse Stocks:

154,041,487.292

-60,002.36

 

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

875.198

28,138,477

US$34,893m

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$5,507m

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$6,083m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.457 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.80: -0.04 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,491.18: +48.52 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) dividend and Primero’s (PPP) investment dispute were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  IAMGOLD

IAG +15.69% $3.76

2.  Fortuna

FSM +15.19% $6.22

3.  Alamos

AGI +14.99% $7.21

 

No “losers” today.

 

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 3rd, 2016
Source: Gold-Seeker.com







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