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Gold Seeker Closing Report: Gold and Silver Close Slightly Higher
By: Chris Mullen, Gold Seeker Report

 -- Published: Tuesday, 8 May 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold saw slight gains in Asia before it fell back to $1306.10 by a little after 10AM EST, but it then rallied back higher into the close and ended with a gain of 0.01%. Silver rose to as high as $16.519 and ended with a gain of 0.06%.


Euro gold rose above €1108, platinum gained $2 to $911, and copper dropped a penny to about $3.06.


Gold and silver equities fell over 1% in the first half hour and a half of trade, but they then chopped back up for most of the rest of the day and ended almost 1% higher on the day.


The Economy:


Trump announces withdrawal from Iran nuclear deal: recap  MarketWatch

Trump pulls U.S. from Iran nuclear deal, to revive sanctions  Reuters

Trump proposes $15 billion spending cuts, targets children's health program  Reuters

Here is the new Richmond Fed president's take on the mystery of paltry wage growth  MarketWatch

U.S. job openings hit record 6.55 million  MarketWatch


Tomorrow brings PPI and Wholesale Trade.


The Markets:


Oil fell over 2% on doubts that other nations will join the US in imposing sanctions on Iran.


The U.S. dollar index rose and treasuries fell as interest rates climbed higher on political uncertainty that held the Dow, Nasdaq, and S&P mostly slightly lower.


Among the big names making news in the market today were Uber, Caterpillar, Walmart, and Fox.


GATA Posts:



'World of Warcraft' currency is now worth 7 times more than Venezuela's cash


The Statistics:

As of close of business: 5/7/2018

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities




London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold




Australian Stock Exchange (ASX)

Gold Bullion Securities




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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 289.45: +0.48 change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 10,054.63: +29.29 change from yesterday’s data.


The Miners:


IAMGOLD’s (IAG) first quarter results, Banro’s (BAA) new CEO, Nevsun’s (NSU) acquisition proposal, and Hecla’s (HL) exploration success were among the big stories in the gold and silver mining industry making headlines today.



1.  Nevsun

NSU +15.82% $3.44


IAG +8.08% $6.15

3.  Taseko

TGB +5.41% $1.17



1.  Pretivm

PVG -2.77% $6.68

2.  Alio Gold

ALO -2.05% $1.91

3.  Alexco

AXU -1.96% $1.50

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


- Chris Mullen, Gold Seeker Report


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© Gold Seeker 2018

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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. 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’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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