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Gold Seeker Closing Report: Gold and Silver Fall With Dollar and Oil
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 3 June 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1185.30

-$8.10

Silver

$16.55

-$0.25

XAU

69.24

-1.82%

HUI

164.80

-2.00%

GDM

538.34

-1.70%

JSE Gold

1076.17

-19.40

USD

95.32

-0.63

Euro

112.71

+1.18

Yen

80.49

-0.07

Oil

$59.64

-$1.62

10-Year

2.366%

+0.100

Bond

151.09375

-2.21875

Dow

18076.27

+0.36%

Nasdaq

5099.23

+0.45%

S&P

2114.07

+0.21%

 
 

 

The Metals:

 

Gold dropped $13.62 to $1179.78 in early afternoon New York trade before it bounced back higher, but it still ended with a loss of 0.68%.  Silver slipped to as low as $16.416 and ended with a loss of 1.49%.

 

Euro gold fell to about €1011, platinum lost $10 to $1101, and copper remained at about $2.72.

 

Gold and silver equities fell over 2% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

May

201K

200K

165K

Trade Balance

April

-$40.9B

-$44.0B

-$50.6B

ISM Services

May

55.7

57.1

57.8

 

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

 

The fed’s Beige Book showed that “U.S. economic activity expanded from early April to late May and growth was expected to continue at a "modest" to "moderate" pace.”

 

Tomorrow brings Initial Jobless Claims and Productivity.

 

The Markets:

 

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

 

Oil fell on expectations for OPEC to maintained its production limit at 30 million barrels a daymaintained its production limit at 30 million barrels a daymaintain its production limit at 30 million barrels a day at its meeting this Friday.

 

The U.S. dollar dropped as the euro rose again “after European Central Bank President Mario Draghi confirmed that the eurozone’s recovery is on track and said the central back is ready to do more to lift the European economy if necessary.”

 

Treasuries “fell with German bunds as a rout in global bonds resumed after Mario Draghi warned of continued volatility and forecast higher inflation in the region.”

 

The Dow, Nasdaq, and S&P rose on decent jobs data and hopes for a deal for Greece.

 

Among the big names making news in the market today were Apple, Boeing, Nestle, and Wendy’s.

 

GATA Posts:

 

 

First Majestic Silver CEO complains to CFTC about market manipulation

Traders may get cash-settled gold and silver futures on Indian commodity exchange

New York Sun: Jeb Bush on the dollar and currency manipulation

 

The Statistics:

Activity from: 6/2/2015

Gold Warehouse Stocks:

7,885,008.557

-2,339.907

Silver Warehouse Stocks:

180,408,194.563

+618,352.808

 

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

709.891

22,823,714

US$27,148m

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$5,286m

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$5,844m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$425m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

28.37

912,230

US$1,088m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 4.176 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.71: +0.11 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,896.37: +34.37 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Kinross

KGC +2.10% $2.43

2.  MAG Silver

MVG +1.24% $7.34

3.  DRDGOLD

DRD +1.20% $1.69

 

LOSERS

1.  Eldorado

EGO -5.15% $4.60

2.  Gold Fields

GFI -4.79% $3.38

3.  Alamos

AGI -4.55% $6.30

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 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, 3 June 2015 | E-Mail  | Print  | Source: GoldSeek.com

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