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Gold Seeker Closing Report: Gold and Silver End Slightly Lower In Mixed Trade
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 8 May 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1227.20

-$2.10

Silver

$16.28

-$0.10

XAU

80.56

+0.35%

HUI

186.74

+0.41%

GDM

599.31

+0.10%

JSE Gold

1328.60

-20.16

USD

99.11

+0.56

Euro

109.31

-0.68

Yen

88.35

-0.53

Oil

$46.43

+$0.21

10-Year

2.381%

+0.032

T-Bond

151.21875

-0.59375

Dow

21012.28

+0.03%

Nasdaq

6102.66

+0.03%

S&P

2399.38

+0.00%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-8gsr/1.jpg

 

The Metals:

 

Gold gained $7.20 to $1236.50 in London before it fell back to $1226.20 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.17%.  Silver slipped to as low as $16.24 and ended with a loss of 0.61%.

 

Euro gold rose to about €1123, platinum gained $7 to $917, and copper fell a few cents to about $2.49.

 

Gold and silver equities drifted roughly 1% lower by midday, but they then rallied back higher into the close and ended with modest gains.

 

The Economy:

 

U.S. inflation expectations edge up: NY Fed  Reuters

Fed's Mester Warns Against Falling Behind With Rate-Hike Pace  Bloomberg

Fed's goals largely met, U.S. rate hikes on track: Mester  Reuters

St. Louis Fed's Bullard says demand for safe assets holding rates low  Reuters

 

Tomorrow brings Wholesale Inventories and JOLTS - Job Openings.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-8gsr/1.png

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

 

Oil edged higher in mixed trade on talks about extending output cuts.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P turned higher by the close after France’s presidential election went as expected.

 

Among the big names making news in the market today were Sinclair Broadcast and Tribune Media, Comcast and Charter, Tyson Foods, and Coach and Kate Spade.

 

GATA Posts:

 

 

Sprott, Neumeyer explain how too much demand drove junior miner prices down

Gold leasing by central banks is used to attack gold price, von Greyerz tells KWN

India's April gold imports more than double from year ago, GFMS says

LME introduces gold and silver trading on July 10

Ed Steer: Are JPMorgan et al. done yet?

Hong Kong exchange tries gold futures again, with physical delivery this time

Those attacks on gold don't come from Adam Hamilton's mere 'speculators'

Thai central bank chief welcomes proposal to reduce U.S. dollar transactions

Lower prices bolster gold demand; premiums rise in India, China

George Gilder: Currency trading is in chaos, so reconsider the gold standard

 

The Statistics:

As of close of business: 5/5/2017

Gold Warehouse Stocks:

8,928,728.793

-4,762.367

Silver Warehouse Stocks:

196,953,259.859

-30,089.45

 

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

853.075

27,427,215

US$33,727m

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$5,454m

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$6,026m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

36.11

1,161,080

US$1,452m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.69: -1.34 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,412.74: No change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) new CEO, Alexco’s (AXU) equity financing and first quarter results, and Avino’s (ASM) property update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +14.37% $1.83

2.  Eldorado

EGO +3.80% $3.55

3.  Hecla

HL +2.45% $5.43

 

LOSERS

1.  Almaden

AAU -5.07% $1.31

2.  AngloGold

AU -2.95% $10.86

3.  Alexco

AXU -2.14% $1.37

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

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: Monday, 8 May 2017 | E-Mail  | Print  | Source: GoldSeek.com

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