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Gold Seeker Closing Report: Gold and Silver Edge Lower Before Jobs Data Tomorrow
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 6 April 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1251.70

-$4.40

Silver

$18.23

-$0.07

XAU

86.28

-0.08%

HUI

203.84

-0.58%

GDM

653.28

+0.03%

JSE Gold

1547.29

+9.30

USD

100.73

+0.26

Euro

106.42

-0.23

Yen

90.27

-0.06

Oil

$51.70

+$0.55

10-Year

2.339%

UNCH

T-Bond

151.75

+0.25

Dow

20662.95

+0.07%

Nasdaq

5878.95

+0.25%

S&P

2357.49

+0.19%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-6gsr/1.jpg

 

The Metals:

 

Gold chopped down to $1250.00 in late morning New York trade before it bounced back higher at times, but it still ended with a loss of 0.35%.  Silver slipped to as low as $18.162 and ended with a loss of 0.38%.

 

Euro gold remained at about €1176, platinum lost $4 to $953, and copper fell a couple of cents to about $2.68.

 

Gold and silver equities fell roughly 1% by late morning, but they then rallied back higher in afternoon trade and ended near unchanged on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

4/01

234K

245K

259K

 

Mortgage rates fall for the third straight week, approach 2017's low  MarketWatch

Traders Bet the Fed Will Slow Rate Hikes to Shrink Balance Sheet  Bloomberg

 

Tomorrow brings March's jobs data, Wholesale Inventories, and Consumer Credit.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-6gsr/1.png

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

 

Oil reversed early losses and ended over 1% higher on uncertainty about what Trump may do about Syria and North Korea.

 

The U.S. dollar index rose as the euro fell “after European Central Bank President Mario Draghi tried to dispel speculation that the central bank would soon end its experiment with negative interest rates.”

 

Treasuries held near unchanged as the Dow, Nasdaq, and S&P pared early gains on unease about Trump’s talks with Chinese President Xi Jinping.

 

Among the big names making news in the market today were Constellation, Hooker Furniture, and GM.

 

GATA Posts:

 

 

China's Shandong Gold in $960 million deal for half of Barrick's Veladero mine

 

The Statistics:

As of close of business: 4/5/2017

Gold Warehouse Stocks:

9,016,931.804

+29,095.75

Silver Warehouse Stocks:

189,794,118.372

-1,419,838.208

 

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

836.765

26,902,831

US$33,682m

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$5,560m

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$6,143m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.81: -0.04 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,237.66: -4.24 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) partnership with Shandong Gold Mining Co., Harmony’s (HMY) halted strike, and Tahoe Resource’s (TAHO) dividend were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Almaden

AAU +4.65% $1.35

2.  Tahoe Resources

TAHO +3.57% $8.41

3.  Richmont

RIC +3.40% $7.60

 

LOSERS

1.  Gold Resource

GORO-2.45% $4.38

2.  Gold Standard

GSV -2.42% $2.02

3.  Great Panther

GPL -2.40% $1.63

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 2017

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 -- Published: Thursday, 6 April 2017 | E-Mail  | Print  | Source: GoldSeek.com

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