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Gold Seeker Closing Report: Gold and Silver End Mixed Before Jobs Day
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 4 August 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1360.40

+$2.30

Silver

$20.35

-$0.06

XAU

112.83

+0.80%

HUI

284.14

+1.44%

GDM

867.47

+0.46%

JSE Gold

2906.53

-43.49

USD

95.75

+0.20

Euro

111.29

-0.21

Yen

98.82

+0.01

Oil

$41.93

+$1.10

10-Year

1.503%

-0.039

T-Bond

173.03125

+0.875

Dow

18352.05

-0.02%

Nasdaq

5166.25

+0.13%

S&P

2164.25

+0.02%

 
 
http://goldseek.com/news/GoldSeeker/2016/8-4gsr/1.jpg

 

The Metals:

 

Gold fell $8.86 to $1349.24 in Asia before it rallied back to $1364.86 at about 8:45AM EST, but it then drifted back lower into the close and ended with a gain of just 0.17%.  Silver slipped to as low as $20.044 and ended with a loss of 0.29%.

 

Euro gold rose to about €1222, platinum lost $3.60 to $1156, and copper fell a couple of cents to about $2.18.

 

Gold and silver equities rose roughly 1% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

7/30

269K

264K

266K

Factory Orders

June

-1.5%

-1.9%

-1.2%

 

Tomorrow brings July’s jobs data, the Trade Balance, and Consumer Credit.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2016/8-4gsr/1.png

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

 

Oil gained almost 3% on short covering after yesterday’s inventory data prompted traders to cut back on positions and take profits.

 

The U.S. dollar index rose as the pound fell “after the Bank of England cut interest rates for the first time in seven years and announced a fresh round of stimulus measures intended to mitigate the effect of the U.K’s decision to leave the European Union.”

 

Treasuries rose on the BOE’s stimulus efforts while the Dow, Nasdaq, and S&P held near unchanged ahead of tomorrow’s jobs data.

 

Among the big names making news in the market today were MetLife, Bayer, Chevron, Nike, Tesla, and Square.

 

GATA Posts:

 

 

No one can be sure that Fed doesn't meddle with futures or ETFs

 

The Statistics:

As of close of business: 8/3/2016

Gold Warehouse Stocks:

11,149,531.360

+156,317.671

Silver Warehouse Stocks:

153,265,253.733

-186,900.032

 

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

969.648

31,175,168

US$42,482m

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$6,047m

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$6,692m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$488m

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 subtracted 0.322 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 219.65: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,911.57: No change from yesterday’s data.

 

The Miners:

 

Second quarter results from Primero (PPP), Comstock (LODE), McEwen (MUX), Randgold (GOLD), and Hecla (HL) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  IAMGOLD

IAG +8.90% $5.75

2.  Eurasian

EMXX +6.50% $1.31

3.  DRDGOLD

DRD +5.75% $8.64

 

LOSERS

1.  Primero

PPP -19.46% $1.78

2.  Great Panther

GPL -6.08% $1.39

3.  Randgold

GOLD-4.74% $113.24

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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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: Thursday, 4 August 2016 | E-Mail  | Print  | Source: GoldSeek.com

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