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

 -- Published: Thursday, 1 June 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1268.00

-$0.20

Silver

$17.31

-$0.01

XAU

83.05

-0.40%

HUI

190.90

-0.84%

GDM

628.33

-0.48%

JSE Gold

1326.11

-8.48

USD

97.20

+0.18

Euro

112.15

-0.24

Yen

89.83

-0.45

Oil

$48.36

+$0.04

10-Year

2.215%

+0.007

T-Bond

154.8125

-0.3125

Dow

21144.18

+0.65%

Nasdaq

6246.83

+0.78%

S&P

2430.06

+0.76%

 
http://goldseek.com/news/2017/6-1-2017%202-03-18%20PM.jpg
 

The Metals:

 

Gold fell $6.60 to $1261.60 at about 8:30AM EST, but it then bounced back higher in afternoon trade and ended with a loss of just 0.02%.  Silver slipped to as low as $17.039 and ended with a loss of just 0.06%.

 

Euro gold rose to about €1131, platinum lost $15 to $931, and copper climbed a penny to about $2.59.

 

Gold and silver equities traded mostly slightly lower and closed with modest losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

May

253K

170K

174K

Initial Jobless Claims

5/27

248K

239K

235K

ISM Index

May

54.9

54.6

54.8

Construction Spending

April

-1.4%

0.5%

1.1%

 

Tomorrow brings May’s jobs data and the Trade Balance.

 

The Markets:

 

Oil ended slightly higher after the Energy Information Administration reported that crude inventories fell 6.4 million barrels, gasoline inventories fell 2.9 million barrels, and distillates rose 400,000 barrels.

 

The U.S. dollar index rose and treasuries fell on this morning’s better than expected ADP Employment report that raised expectations for tomorrow’s Nonfarm Payrolls numbers.

 

The Dow, Nasdaq, and S&P saw decent gains on optimism over jobs and the economy.

 

Among the big names making news in the market today were Deere, Ford, Pimco, Herbalife, and Uber.

 

GATA Posts:

 

 

Roberts and Kranzler: Is bitcoin standing in for gold?

Hard assets will catch up, Embry tells King World News

 

The Statistics:

As of close of business: 5/31/2017

Gold Warehouse Stocks:

8,798,406.410

+48,130.05

Silver Warehouse Stocks:

201,561,692.354

+194,579.84

 

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$34,451m

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$5,611m

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$6,201m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

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:

 

Golden Star’s (GSS) convertible debentures repayment and Great Panther’s (GPL) completed commissioning were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Fields

GFI +2.23% $3.66

2.  Richmont

RIC +2.11% $7.25

3.  New Gold

NGD +1.73% $2.94

 

LOSERS

1.  DRDGOLD

DRD -4.67% $2.86

2.  Harmony

HMY -4.50% $1.91

3.  B2Gold

BTG -2.79% $2.44

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

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 -- Published: Thursday, 1 June 2017 | E-Mail  | Print  | Source: GoldSeek.com

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