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Gold Seeker Closing Report: Gold Gains With Oil
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 20 May 2015 | Print  | Disqus 

Please Note: This will be the last Gold Seeker Closing Report until next Tuesday.

 

 

Close

Gain/Loss

Gold

$1210.20

+$2.00

Silver

$17.12

UNCH

XAU

72.06 

+0.13%

HUI

 173.40

+0.13%

GDM

 556.25

+0.21%

JSE Gold

1129.04

-29.62

USD

95.49

+0.18

Euro

111.08

-0.41

Yen

82.51

-0.34

Oil

$58.98

+$0.99

10-Year

2.251%

-0.011

Bond

152.59375

-0.40625

Dow

 18285.40

-0.15%

Nasdaq

 5071.74

+0.03%

S&P

 2125.85

-0.09%

 

The Metals:

 

Gold dipped $3.45 to $1204.75 in Asia before it bounced back to $1212.68 at about 10AM EST and then drifted back towards unchanged in the next four hours of trade, but it then rose to a new session high of $1213.10 after the release of today’s fed minutes and ended with a gain of 0.17%.  Silver slipped to $16.978 before it climbed back to $17.289, but it then drifted back lower into the close and ended unchanged on the day.

 

Euro gold rose to about €1090, platinum gained $6 to $1153, and copper fell slightly to about $2.83.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

The Economy:

 

Rate hike not appropriate until early 2016: Fed's Evans Reuters

U.S. mortgage applications fall in latest week: MBA Reuters

 

FOMC Minutes from the fed’s April 29th meeting showed the fed officials “believed it would be premature to raise interest rates in June and that a bump in inflation was being offset by a weaker labor market and softer data”.

 

Tomorrow brings Initial Jobless Claims, Existing Home Sales, the Philadelphia Fed, and Leading Economic Indicators.

 

The Markets:

 

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

 

Oil remained higher after the Energy Information Administration reported that crude inventories fell 2.7 million barrels, gasoline inventories fell 2.8 million barrels, and distillates fell 500,000 barrels.

 

The U.S. dollar pared early gains and treasuries traded mixed along with the Dow, Nasdaq, and S&P after the release of today’s fed minutes.

 

Among the big names making news in the market today were Lowe’s Staples, Altice, Burberry, Target, UBS, and Etsy.

 

GATA Posts:

 

 

Bloomberg imagines a wild price for gold if it ever formally backed Chinese yuan

Indian banks doubt that gold paperization scheme will do much

Big banks plead guilty to currency market-rigging conspiracy, will pay $5.8 billion

Goodbye, zinc rally: CME Group creates futures contract, engages JPM to rig price

Why India's latest gold paperization scheme will fail like the last one

 

The Statistics:

Activity from: 5/19/2015

Gold Warehouse Stocks:

7,831,817.010

+4,500.75

Silver Warehouse Stocks:

178,909,326.920

+777,513.20

 

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

718.243

23,092,236

US$27,945m

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$5,367m

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$5,944m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

28.37

911,971

US$1,107m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.14: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,888.76: No change from yesterday’s data.

 

The Miners:

 

Banro’s (BAA) board of directors, Rubicon’s (RBY) Industrial Electricity Incentive Stream 3 Program, and B2Gold’s (BTG) credit facility were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  B2Gold

BTG +7.19% $1.79

2.  Coeur

CDE +3.56% $5.53

3.  Alamos

AGI +3.09% $7.01

 

LOSERS

1.  New Gold

NGD -2.74% $3.19

2.  Gold Resource

GORO-2.52% $3.09

3.  DRDGOLD

DRD -2.19% $1.79

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2015

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


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 -- Published: Wednesday, 20 May 2015 | E-Mail  | Print  | Source: GoldSeek.com

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