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Gold Seeker Closing Report: Gold and Silver Fall While Stocks Edge Higher
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 3 August 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1358.10

-$6.40

Silver

$20.41

-$0.20

XAU

111.93

-0.82%

HUI

280.11

-1.25%

GDM

863.65

-0.60%

JSE Gold

2950.02

+109.77

USD

95.55

+0.46

Euro

111.48

-0.80

Yen

98.79

-0.34

Oil

$40.83

+$1.32

10-Year

1.542%

+0.005

T-Bond

172.21875

-0.125

Dow

18355.00

+0.23%

Nasdaq

5159.74

+0.43%

S&P

2163.79

+0.31%

 
 
http://goldseek.com/news/GoldSeeker/2016/8-3gsr/1.jpg

 

The Metals:

 

Gold fell $10.01 to $1354.49 at about 10:30AM EST, but it then bounced back higher in afternoon trade and ended with a loss of just 0.47%.  Silver slipped to as low as $20.374 and ended with a loss of 0.97%.

 

Euro gold rose to about €1218, platinum lost $4.40 to $1159.60, and copper fell slightly to about $2.20.

 

Gold and silver equities fell over 2% by midmorning, but they then edged back higher into the close and ended with only about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

July

179K

165K

176K

ISM Services

July

55.5

55.8

56.5

 

Tomorrow brings Initial Jobless Claims and Factory Orders.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/8-3gsr/1.png

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

 

Oil jumped over 3% higher after the Energy Information Administration reported that crude inventories rose 1.4 million barrels and gasoline inventories fell 3.3 million barrels.

 

The U.S. dollar index rose and treasuries fell on better than expected economic data that sent the Dow, Nasdaq, and S&P modestly higher.

 

Among the big names making news in the market today were Time Warner, Lyft, Office Depot, Bitcoin, and CBS.

 

GATA Posts:

 

 

Bond king Gross favors gold and real estate now

'Real Money Show' interviews GATA secretary on gold market rigging

Bitcoin worth $72 million stolen from Bitfinex exchange in Hong Kong

JPM analyst says central banks rigged markets after Brexit

 

The Statistics:

As of close of business: 8/2/2016

Gold Warehouse Stocks:

10,993,213.689

-1,929.00

Silver Warehouse Stocks:

153,452,153.765

-599,054.50

 

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

969.970

31,185,505

US$42,363m

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$6,030m

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$6,661m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$487m

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 5.938 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 219.65: -0.05 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,911.57: -4.38 change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) closed offering, Eurasian’s (EMXX) sold property, and Great Panther’s (GPL) unexpected passing were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +9.32% $6.45

2.  Buenaventura

BVN +1.65% $15.37

3.  First Majestic

AG +0.89% $18.20

 

LOSERS

1.  Vista Gold

VGZ-18.71% $1.26

2.  Paramount

PZG -5.60% $2.19

3.  DRDGOLD

DRD -5.55% $8.17

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, 3 August 2016 | E-Mail  | Print  | Source: GoldSeek.com

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