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Gold Seeker Closing Report: Gold and Silver Erase Notable Early Gains on Brexit Doubts
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 16 June 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1281.70

-$12.60

Silver

$17.17

-$0.37

XAU

89.86

-2.77%

HUI

226.59

-3.16%

GDM

713.02

-1.70%

JSE Gold

2155.25

-36.72

USD

94.56

-0.10

Euro

112.39

-0.22

Yen

95.81

+1.47

Oil

$46.21

-$1.80

10-Year

1.564%

-0.032

T-Bond

171.5625

+0.90625

Dow

17733.10

+0.53%

Nasdaq

4844.91

+0.21%

S&P

2077.99

+0.31%

 
 

 

The Metals:

 

Gold gained $21.27 to $1315.57 at about 10:45AM EST, but it then tumbled lower into the close and ended with a loss of 0.97% after tragic news in Britain reduced the odds of Britain leaving the EU.  Silver slipped to as low as $17.157 and ended with a loss of 2.11%.

 

Euro gold fell to about €1140, platinum lost $8 to $967, and copper dropped 4 cents to about $2.05.

 

Gold and silver equities saw decent gains for most of the morning, but they then fell back off in afternoon trade and ended roughly 2% lower on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

May

0.2%

0.3%

0.4%

Core CPI

May

0.2%

0.2%

0.2%

Initial Claims

6/11

277K

269K

264K

Philadelphia Fed

June

4.7

0.7

-1.8

Current Account Balance

Q1

-$124.7B

-$125.4B

-$113.4B

NAHB Housing Market Index

June

60

59

58

 

Fed's Yellen to speak before U.S. House committee on Wednesday  Reuters

 

Tomorrow brings Building Permits and Housing Starts.

 

The Markets:

 

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

 

Oil fell almost 4% on continued concerns about the impacts of next week’s Brexit vote, no matter the outcome.

 

The U.S. dollar index erased notable early gains and ended slightly lower while treasuries remained higher and the Dow, Nasdaq, and S&P turned losses into gains after the suspension of both sides of the Brexit campaigns spurred speculation that it may favor the pro-EU "Remain" camp.

 

Among the big names making news in the market today were VW, Wal-Mart, Macy’s, and Disney.

 

GATA Posts:

 

 

Canada experiments with digital dollar on blockchain

China dumping more than Treasuries as U.S. stocks join fire sale

GATA Chairman Murphy interviewed on volatility in monetary metals

Saville has no time to answer challenging questions

 

The Statistics:

As of close of business: 6/15/2016

Gold Warehouse Stocks:

8,812,135.971

-

Silver Warehouse Stocks:

150,053,819.652

-358,881.246

 

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

900.750

28,960,023

US$37,953m

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$5,813m

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$6,425m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$460m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.88

1,121,361

US$1,417m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.079 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.65: +0.75 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,661.21: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Vista Gold

VGZ +11.11% $1.20

2.  Alexco

AXU +6.98% $1.38

3.  Avino

ASM +5.11% $2.47

 

LOSERS

1.  Harmony

HMY -6.04% $3.42

2.  AngloGold

AU -5.66% $15.82

3.  Gold Fields

GFI -4.49% $4.25

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: Thursday, 16 June 2016 | E-Mail  | Print  | Source: GoldSeek.com

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