• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.932 0.443
  • Oil: 57.26 0.11

April 24: Gold and Silver End Well Off Their Lows

Julian D. W. Phillips
|
Monday, April 24th
 

Close

Gain/Loss

Gold

$1276.10

-$8.80

Silver

$17.92

-$0.04

XAU

85.44

-1.62%

HUI

200.95

-2.26%

GDM

646.42

-1.68%

JSE Gold

1428.06

-81.54

USD

99.03

-0.88

Euro

108.70

+1.68

Yen

91.13

-0.51

Oil

$49.23

-$0.39

10-Year

2.273%

+0.034

T-Bond

153.4375

-0.71875

Dow

20763.89

+1.05%

Nasdaq

5983.82

+1.24%

S&P

2374.15

+1.08%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-24gsr/1.jpg

The Metals:

 

Gold dove down to $1266.10 at the open of trade last night before it bounced back above $1275 in Asia and then fell back to $1267.50 at about 8:15AM EST, but it then chopped its way back higher into the close and ended with a loss of just 0.68%. Silver slipped to as low as $17.734 and ended with a loss of just 0.22%.

 

Euro gold fell to about €1174, platinum lost $12 to $959, and copper climbed a couple of cents to about $2.57.

 

Gold and silver equities fell roughly 2% at the open and remained near that level for the rest of the day.

The Economy:

 

Fed Model Says `Neutral' Interest Rate Dips Back to Zero Bloomberg

Congress returns as Trump pressures Democrats ahead of funding deadline Reuters

Elliott Wave investor Robert Prechter says a Depression-like shock is coming MarketWatch

Should Wall Street fear a government shutdown? Here's how stocks fared during past closures MarketWatch

 

Tomorrow brings the Case-Shiller Home Price Index, the FHFA Housing Price Index, New Home Sales, and Consumer Confidence.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-24gsr/1.png

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

 

Oil continued almost 1% lower on the outlook for rising US production.

 

The U.S. dollar index dropped as the euro jumped higher after France’s election results reduced the chances of them leaving the EU.

 

Treasuries fell as the Dow, Nasdaq, and S&P gained over 1% “after France’s election left a centrist on track for the presidency, easing concerns that the country will leave the euro currency bloc.”

 

Among the big names making news in the market today were De Beers, Halliburton, GM, and Hasbro.

 

GATA Posts:

 

 

Join GATA in May at the International Metal Writers Conference in Vancouver

Russians know that the dollar is both America's weapon and vulnerability

European Central Bank ready to rig markets if French voters misbehave

 

The Statistics:

Activity from: 4/20/2017

Gold Warehouse Stocks:

8,952,104.958

-514.416

Silver Warehouse Stocks:

194,574,337.283

+270,359.763

 

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

858.690

27,607,757

US$35,036m

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$5,660m

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$6,254m

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 4.44 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 204.36: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,119.87: -29.45 change from yesterday’s data.

 

The Miners:

 

SEMAFO’s (SMF.TO) first quarter production and Randgold’s (GOLD) efforts at extending Tongon’s mine life were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Almaden

AAU +5.33% $1.58

2. Taseko

TGB +3.70% $1.12

3. Turquoise

TRQ +3.00% $2.75

LOSERS

1. Seabridge

SA -6.41% $10.95

2. Gold Fields

GFI -6.25% $3.60

3. DRDGOLD

DRD -5.95% $4.27

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

- Chris Mullen, Gold Seeker Report

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© Gold Seeker 2017

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