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Gold Seeker Closing Report: Gold Ends Slightly Lower While Silver Rises Over 1%
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 2 May 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1304.50

-$0.60

Silver

$16.37

+$0.20

XAU

81.92

+0.61%

HUI

180.59

+0.78%

GDM

624.96

+0.28%

JSE Gold

1154.73

+50.13

USD

92.81

+0.34

Euro

119.41

-0.53

Yen

91.20

-0.03

Oil

$67.81

+$0.56

10-Year

2.976%

+0.007

T-Bond

143.0625

-0.09375

Dow

23924.98

-0.72%

Nasdaq

7100.90

-0.42%

S&P

2635.67

-0.72%

 
http://www.goldseek.com/news/2018/2018-05-02_14-04-00.jpg

 

The Metals:

 

Gold gained $6.50 to $1311.60 in Asia before it dropped back to $1304.10 in midmorning New York trade and then jumped up to $1313.20 after the release of today’s fed statement, but it then sold back off into the close and ended with a loss of 0.05%. Silver rose to as high as $16.511 and ended with a gain of 1.24%.

 

Euro gold rose above €1092, platinum gained $1 to $893, and copper climbed 2 cents to about $3.05

 

Gold and silver equities rose over 2% by midafternoon before they dropped in late trade, but they still ended with modest gains on the day.

 

The Economy:

 

Fed leaves interest rates unchanged, says inflation near target  Reuters

Fed Leaves Rates Unchanged, Says Inflation Close to Target  Bloomberg

May Fed meeting: Here's what changed in the new Fed statement  CNBC

Fed holds rates steady but points to higher inflation  CNBC

U.S. adds 204,000 private-sector jobs in April, ADP report shows  MarketWatch

U.S. Lifts Debt Sales as Deficit Grows, Plans 2-Month Bills  Bloomberg

U.S. mortgage applications fall as loan rates hit four and a half year peak: MBA  Reuters

 

Tomorrow brings Initial Jobless Claims, International Trade, Productivity and Costs, PMI Services, Factory Orders, and ISM Non-Manufacturing.

 

The Markets:

 

Oil waffled near unchanged but ultimately ended almost 1% higher after the Energy Information Administration reported that crude inventories rose 6.2 million barrels, gasoline inventories rose 1.2 million barrels, and distillates fell 3.9 million barrels.

 

The U.S. dollar index initially erased its morning advance after the fed’s statement, but it then climbed to new highs into the close on mixed inflation outlooks.

 

Treasuries ended slightly lower in mixed trade.

 

The Dow, Nasdaq, and S&P held near unchanged before the fed and fell nearly 1% after.

 

Among the big names making news in the market today were Gilead, Chesapeake, Tesla, Apple, Yum Brands, and Snap.

 

The Statistics:

As of close of business: 5/1/2018

Gold Warehouse Stocks:

9,049,523.232

-104.83

Silver Warehouse Stocks:

265,597,393.580

+2,006,533.881

 

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

866.774

27,867,649

US$36,332m

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$5,803m

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$6,414m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$469m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 4.422 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,856.67: No change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) AGM results, Alamos Gold’s (AGI) first quarter results, Silver Bull’s (SSVBL) new mineral license, and Alexco’s (AXU) drilling were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eldorado

EGO +9.68% $1.02

2.  DRDGOLD

DRD +6.67% $2.40

3.  Alamos

AGI +4.55% $5.52

 

LOSERS

1.  Buenaventura

BVN-4.10% $15.42

2.  Paramount

PZG -2.52% $1.55

3.  Royal Gold

RGLD-0.73%$88.19

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, 2 May 2018 | E-Mail  | Print  | Source: GoldSeek.com

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