• Gold: 1,290.30 -10.25
  • Silver: 16.92 -0.22
  • Euro: 1.192 0.003
  • USDX: 92.279 -0.229
  • Oil: 50.25 -0.46

April 12: Gold and Silver Gain Almost 1% While Dollar Drops on Trump Talk

Chris Mullen
|
Wednesday, April 12th
 

Close

Gain/Loss

Gold

$1281.50

+$8.90

Silver

$18.43

+$0.15

XAU

89.43

+0.46%

HUI

213.25

+1.06%

GDM

681.42

+1.06%

JSE Gold

1610.02

-13.30

USD

100.25

-0.49

Euro

106.59

+0.59

Yen

91.60

+0.45

Oil

$53.11

-$0.29

10-Year

2.266%

-0.037

T-Bond

153.46875

+0.50

Dow

20591.86

-0.29%

Nasdaq

5836.16

-0.52%

S&P

2344.93

-0.38%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-12gsr/1.jpg

The Metals:

 

Gold saw slight gains in Asia and London and jumped up to $1277.90 by a little before 8:30AM EST before it dropped back to $1272.40 in the next hour of trade, but it then shot back higher into the close and ended near its late session high of $1283.60 with a gain of 0.7%. Silver rose to as high as $18.439 and ended with a gain of 0.82%.

 

Trump says Yellen is 'not toast' as he says dollar is getting too strong MarketWatch

Dollar Slides After Trump Tells WSJ It's ‘Getting Too Strong’ Bloomberg

Trump says dollar ‘getting too strong’: Wall Street Journal Reuters

 

Euro gold rose to about €1202, platinum gained $3.75 to $969, and copper fell 6 cents to about $2.57.

 

Gold and silver equities waffled near unchanged and ended with about 1% gains.

The Economy:

 

Report

For

Reading

Expected

Previous

Import Prices

Mar

-0.2%

-

0.4%

Import Prices ex-oil

Mar

0.2%

-

0.4%

Export Prices

Mar

0.2%

-

0.3%

Export Prices ex-ag.

Mar

0.2%

-

0.3%

Treasury Budget

Mar

-$176B

-

-$108B

 

Trump says he has to do health bill before tackling tax reform MarketWatch

Refinancing share of U.S. mortgage activity smallest since 2008: MBA Reuters

 

Tomorrow brings Initial Jobless Claims, PPI, and Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-12gsr/1.png

Charts Courtesy of http://finance.yahoo.com/

 

Oil turned lower after the Energy Information Administration reported that crude inventories fell 2.2 million barrels, gasoline inventories fell 3.0 million barrels, and distillates fell 2.2 million barrels.

 

The U.S. dollar index fell and treasuries rose again as the Dow, Nasdaq, and S&P continued lower on geopolitical uncertainty.

 

Among the big names making news in the market today were Daimler, Ferrari, Delta, BlackBerry, United Airlines, and Samsung.

 

GATA Posts:

 

 

London gold benchmark fixes $12/oz off spot price

India gold imports said to jump 582% on festival, wedding demand

CME Group to close CME Europe and CME Clearing Europe

 

The Statistics:

As of close of business: 4/11/2017

Gold Warehouse Stocks:

8,970,234.653

-11,721.496

Silver Warehouse Stocks:

189,864,054.282

-79,096.387

 

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

842.408

27,084,255

US$34,509m

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$5,663m

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$6,259m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.145 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.67: +0.05 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,208.21: No change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) casualty, Banro’s (BAA) exploration update, Excellon’s (EXN.TO) director passing, and Silver Standard’s (SSRI) first quarter production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Northern Dynasty

NAK +31.88% $1.82

2. Almaden

AAU +20.44% $1.65

3. IAMGOLD

IAG +3.64% $4.55

LOSERS

1. Taseko

TGB -6.15% $1.22

2. Freeport

FCX -5.43% $12.88

3. Turquoise

TRQ -3.28% $2.95

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

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

- 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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