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Gold Seeker Closing Report: Gold Gains While Dollar Drops Again
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 31 May 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1268.20

+$5.10

Silver

$17.32

-$0.09

XAU

83.39

-0.08%

HUI

192.51

+0.48%

GDM

631.18

+0.20%

JSE Gold

1334.59

-22.86

USD

97.02

-0.26

Euro

112.39

+0.46

Yen

90.28

+0.01

Oil

$48.32

-$1.34

10-Year

2.208%

UNCH

T-Bond

154.90625

+0.3125

Dow

21008.65

-0.10%

Nasdaq

6198.52

-0.08%

S&P

2411.80

-0.05%

 
http://goldseek.com/news/2017/5-31-2017%202-01-29%20PM.jpg

 

The Metals:

 

Gold saw slight losses for most of trade in Asia before it climbed up to $1274.10 in early afternoon New York trade and then chopped back lower at times, but it still ended with a gain of 0.4%.  Silver rose to as high as $17.419 and ended with a loss of 0.52%.

 

Euro gold remained at about €1129, platinum gained $9 to $946, and copper climbed a penny to about $2.58.

 

Gold and silver equities waffled near unchanged and ended mostly slightly higher.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Chicago PMI

May

59.4

57.5

58.3

Pending Home Sales Index

April

-1.3%

0.5%

-0.9%

 

Fed Survey Shows Modest Growth With Tight Labor and Tame Prices  Bloomberg

Fed's Kaplan Sticks to Rate Forecast Despite Inflation Weakness Bloomberg

MBA: Mortgage applications continue to waver, drop HousingWire

Fed official says U.S. immigration crackdown could hit economy Reuters

 

Tomorrow brings ADP Employment, Initial Jobless Claims, the ISM manufacturing index, and Construction Spending.

 

The Markets:

 

Oil fell almost 3% and the U.S. dollar index dropped while treasuries rose on mixed economic data and earnings reports that held the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were JPMorgan, Nestle, Smucker, Burlington, Whirlpool, and Michael Kors.

 

GATA Posts:

 

 

Chinese company Fosun buys stake in Russia's top gold miner for $887 million

 

The Statistics:

As of close of business: 5/30/2017

Gold Warehouse Stocks:

8,750,276.360

-62,512.652

Silver Warehouse Stocks:

201,367,112.514

-780,203.259

 

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

847.452

27,246,434

US$34,488m

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$5,628m

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$6,220m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$456m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 202.97: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,605.56: No change from yesterday’s data.

 

The Miners:

 

Royal Gold’s (RGLD) dividend and Alexco’s (AXU) shareholders meeting were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  IAMGOLD

IAG +4.44% $4.47

2.  Alamos Gold

AGI +2.91% $6.72

3.  Randgold

GOLD +2.77% $94.82

 

LOSERS

1.  Northern Dynasty

NAK -6.06% $1.55

2.  DRGOLD

DRD -4.76% $3.00

3.  Eldorado

EGO -4.39% $3.05

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: Wednesday, 31 May 2017 | E-Mail  | Print  | Source: GoldSeek.com

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