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Gold Seeker Closing Report: Gold Gains Almost 1.5% and Silver Surges Nearly 4%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 8 June 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1262.00

+$18.10

Silver

$17.04

+$0.64

XAU

91.61

+3.36%

HUI

231.38

+3.30%

GDM

717.40

+2.58%

JSE Gold

2219.47

+72.14

USD

93.60

-0.29

Euro

113.94

+0.36

Yen

93.41

+0.25

Oil

$51.23

+$0.87

10-Year

1.706%

-0.007

T-Bond

168.28125

+0.375

Dow

18005.05

+0.37%

Nasdaq

4974.64

+0.26%

S&P

2119.12

+0.33%

 
 
 

The Metals:

 

Gold gained $20.19 to $1264.09 at about 10AM EST before it chopped back lower at times, but it still ended with a gain of 1.46%.  Silver jumped to as high as $17.088 and ended with a gain of 3.9%.

 

Euro gold rose to above €1007, platinum gained $10 to $1007, and copper climbed a penny to about $2.07.

 

Gold and silver equities rose roughly 5% in the first half hour of trade before they drifted back lower into the close, but they still ended about 3% higher on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

MBA Mortgage Index

6/04

9.3%

-

-4.1%

JOLTS - Job Openings

Apr

5.788M

-

5.670M

 

Tomorrow brings Initial Jobless Claims and Wholesale Inventories.

 

The Markets:

 

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

 

Oil remained higher after the Energy Information Administration reported that crude inventories fell 3.2 million barrels, gasoline inventories rose 1 million barrels, and distillates rose 1.8 million barrels.

 

The U.S. dollar index fell and treasuries rose along with the Dow, Nasdaq, and S&P on doubts that the fed will raise interest rates anytime soon.

 

Among the big names making news in the market today were Janus, Morgan Stanley, and Target.

 

GATA Posts:

 

 

Commerzbank may hoard billions to avoid ECB charges, Reuters says

UK's Royal Mint will sell pension investors gold they can never see

 

The Statistics:

As of close of business: 6/07/2016

Gold Warehouse Stocks:

8,762,934.967

+96,703.15

Silver Warehouse Stocks:

153,023,339.647

-141,068.16

 

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

881.145

28,329,699

US$35,777m

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$5,604m

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$6,193m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$452m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.90: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,535.54: +44.36 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Avino

ASM +14.79% $1.94

2.  Almaden

AAU +12.28% $1.28

3.  Alexco

AXU +10.08% $1.31

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

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 -- Published: Wednesday, 8 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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