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Gold Seeker Closing Report: Gold and Silver Close Higher on Yellen-Speak
By: Chris Mullen,

 -- Published: Monday, 6 June 2016 | Print  | Disqus 



















JSE Gold
































The Metals:


Gold dipped $3.77 to $1240.13 in London before it bounced back to $1247.30 in late morning New York trade and then chopped back towards $1240.00 in early afternoon trade, but it then edged back higher into the close and ended with a gain of 0.1%.  Silver jumped up to $16.528 before it dropped back to $16.364, but it still ended with a gain of 0.65%.


Euro gold rose to about €1096, platinum gained $13 to $993, and copper remained at about $2.12.


Gold and silver equities waffled near unchanged for much of the day, but they then climbed steadily higher in the last two hours of trade and ended with roughly 1% gains.


The Economy:


Yellen Sees Rates Rising Gradually Without Giving Precise Timing Bloomberg

Fed's Yellen sees rate hikes, mostly good economic picture Reuters

Yellen says U.S. remains on track for more interest-rate hikes MarketWatch


Tomorrow brings Productivity and Consumer Credit.


The Markets:


Charts Courtesy of


Oil rose over 2% on worries about ongoing supply disruptions in Canada and Nigeria.


The U.S. dollar index erased early gains and treasuries pared early losses after Yellen did not mention an exact time frame for the fed’s next rate hike.


The Dow, Nasdaq, and S&P followed the oil market higher.


Among the big names making news in the market today were Google, Best Buy, and Michelin.


GATA Posts:



Von Greyerz mocks U.S. employment reports


The Statistics:

As of close of business: 6/3/2016

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




Johannesburg Securities Exchange (JSE)

New Gold Debentures




Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.238 tonnes.


COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.90: -0.90 change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,491.18: No change from yesterday’s data.


The Miners:


Goldcorp’s (GG) dividend, Centerra’s (CG.TO) legal update, Solitario’s (XPL) purchased royalty, Avino’s (ASM) commercial production declaration of its second mine, and Excellon’s (EXN.TO) finalized sale were among the big stories in the gold and silver mining industry making headlines today.



1.  Avino

ASM +7.43% $1.59

2.  Primero

PPP +6.95% $2.00

3.  Paramount

PZG +6.77% $1.52



1.  Gold Fields

GFI -2.14% $4.12

2.  Buenaventura

BVN-1.98% $10.89

3.  B2Gold

BTG -1.97% $1.99

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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© Gold Seeker 2016

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