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Gold Seeker Closing Report: Gold and Silver Erase Early Gains To End Mixed
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 4 April 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1333.40

+$1.70

Silver

$16.31

-$0.11

XAU

80.84 

-0.47%

HUI

 175.18

-0.37%

GDM

 610.01

-0.63%

JSE Gold

1093.05

-11.82

USD

90.13

-0.09

Euro

122.86

+0.20

Yen

93.67

-0.17

Oil

$63.37

-$0.14

10-Year

2.806%

+0.021

T-Bond

145.50

-0.21875

Dow

24264.30 

+0.96%

Nasdaq

 7042.11

+1.45%

S&P

 2644.69

+1.16%

 
http://www.goldseek.com/news/2018/2018-04-04_16-38-50.jpg

 

The Metals:

 

Gold gained $16.40 to $1348.10 at about 9AM EST before it slid back lower into the close, but it still ended with a gain of 0.13%. Silver chopped between $16.528 and $16.248 and ended with a loss of 0.67%.

 

Euro gold remained at about €1086, platinum lost $9 to $914, and copper fell 4 cents to about $3.02.

 

Gold and silver equities saw small gains at the open before they fell to see modest losses by late morning and then rallied back higher at times, but they still ended slightly lower on the day.

 

The Economy:

 

China's Counterpunch to Trump's Tariffs Sparks Global Selloff  Bloomberg

China threatens U.S. cars, planes and soybeans with tariffs in response to Trump  MarketWatch

U.S. factory orders increase broadly in February  Reuters

Growth in U.S. Service Industries Cools for a Second Month  Bloomberg

Private-sector hiring up 241,000 in March, ADP says  MarketWatch

 

Tomorrow brings Initial Jobless Claims and International Trade.

 

The Markets:

 

Oil pared early losses after the Energy Information Administration reported that crude inventories fell 4.6 million barrels, gasoline inventories fell 1.1 million barrels, and distillates rose 500,000 barrels.

 

The U.S. dollar index remained lower while treasuries turned down after the Dow, Nasdaq, and S&P reversed notable early losses and ended roughly 1% higher on hopes that tariffs won’t harm the global economy as much as some fear.

 

Among the big names making news in the market today were Boeing, Apple, Tesla, CarMax, and CBS.

 

GATA Posts:

 

 

Craig Hemke at Sprott Money: Gold price driver isn't dollar/yen pairing anymore

 

The Statistics:

As of close of business: 4/3/2018

Gold Warehouse Stocks:

9,062,198.720

-3,215.00

Silver Warehouse Stocks:

262,744,939.905

+638,049.59

 

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

852.312

27,402,674

US$36,527m

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$5,955m

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$6,580m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$481m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.28: +0.90 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: No change from yesterday’s data.

 

The Miners:

 

Alio Gold’s (ALO) drill results and Eldorado Gold’s (EGO) arbitration ruling were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alio Gold

ALO +4.17% $2.00

2.  Buenaventura

BVN +2.37% $15.97

3.  Coeur

CDE +2.28% $8.08

 

LOSERS

1.  Alexco

AXU -5.71% $1.32

2.  Yamana

AUY -4.33% $2.65

3.  Harmony

HMY -4.15% $2.31

Winners & Losers tracks NYSE 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 2018

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, 4 April 2018 | E-Mail  | Print  | Source: GoldSeek.com

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