• Gold: 1,242.60 -5.81
  • Silver: 14.50 -0.13
  • Euro: 1.136 -0.005
  • USDX: 97.182 0.668
  • Oil: 51.57 -0.56

April 2: Gold and Silver Gain Over 1% While Stocks Drop 2%

Chris Mullen
|
Monday, April 2nd

 

Close

Gain/Loss

Gold

$1341.90

+$16.00

Silver

$16.60

+$0.26

XAU

82.01

+1.10%

HUI

177.73

+1.32%

GDM

618.75

+1.06%

JSE Gold

1127.39

-3.86

USD

90.01

-0.05

Euro

123.05

+0.01

Yen

94.51

+0.46

Oil

$63.01

$1.93

10-Year

2.741%

-0.001

T-Bond

146.53125

-0.09375

Dow

23644.19

-1.90%

Nasdaq

6870.12

-2.74%

S&P

2581.88

-2.23%

 
http://www.goldseek.com/news/2018/2018-04-02_14-02-47.jpg

 

The Metals:

 

Gold gained $18.80 to $1344.70 in early afternoon New York trade before it edged back lower into the close, but it still ended with a gain of 1.21%. Silver rose to as high as $16.673 and ended with a gain of 1.59%.

 

Euro gold rose above €1090, platinum gained $4.50 to $932, and copper climbed a penny to about $3.04.

 

Gold and silver equities rose almost 2% in the first hour of trade before they drifted back lower in the last two hours, but they still ended over 1% higher on the day.

 

The Economy:

 

U.S. construction spending barely rises in February  Reuters

American manufacturers still growing rapidly, but worry about tariffs, inflation: ISM  MarketWatch

U.S. Factory Gains Cool as Inflation in Raw Materials Picks Up  Bloomberg

China hammers U.S. goods with tariffs as 'sparks' of trade war fly  Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Oil fell nearly 3% and the U.S. dollar index traded mixed with treasuries as the Dow, Nasdaq, and S&P dropped roughly 2% on concerns about tariffs from China and more weakness in technology shares.

 

Among the big names making news in the market today were Fitbit, Hudson's Bay, Amazon, Salesforce, Snap, and Tesla.

 

GATA Posts:

 

 

Yuan's rise fuels speculation on another Plaza Accord devaluation of dollar

China's central bank plans crackdown on virtual currencies

U.S. dollar share of currency reserves hits 4-year low, IMF says

Sprott doubts that world can stand rising rates

Alasdair Macleod: The yuan-oil future and gold

 

The Statistics:

As of close of business: 3/29/2018

Gold Warehouse Stocks:

9,060,591.220

-

Silver Warehouse Stocks:

262,106,917.255

+1,596,813.084

 

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

846.119

27,203,556

US$36,002m

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$5,871m

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$6,488m

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: 271.38: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: +29.31 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Seabridge

SA +4.17% $11.25

2.  NOVAGOLD

NG +4.16% $4.51

3.  Harmony

HMY +3.77% $2.48

 

LOSERS

1.  Alio Gold

ALO -4.10% $1.87

2.  Turquoise

TRQ -2.61% $2.99

3.  Freeport

FCX -2.45% $17.14

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

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map