• Gold: 1,224.82 -3.00
  • Silver: 15.48 -0.07
  • Euro: 1.165 0.001
  • USDX: 95.012 -0.021
  • Oil: 67.74 -0.21

April 3: Gold and Silver Cut Into Yesterday’s Gains

Chris Mullen
|
Tuesday, April 3rd

 

Close

Gain/Loss

Gold

$1331.70

-$10.20

Silver

$16.42

-$0.18

XAU

81.22

-0.96%

HUI

175.83

-1.07%

GDM

613.88

-0.81%

JSE Gold

1104.87

-22.52

USD

90.22

+0.21

Euro

122.66

-0.49

Yen

93.84

-0.67

Oil

+$0.50

$63.51

10-Year

2.785%

+0.044

T-Bond

145.78125

-0.96875

Dow

24033.36

+1.65%

Nasdaq

6941.28

+1.04%

S&P

2614.45

+1.26%

 
http://www.goldseek.com/news/2018/2018-04-03_14-01-14.jpg

 

The Metals:

 

Gold fell $13 to $1328.90 in late morning New York trade before it nearly halved its drop by early afternoon, but it then drifted back lower into the close and ended with a loss of 0.76%. Silver slipped to as low as $16.358 and ended with a loss of 1.08%.

 

Euro gold fell to about €1086, platinum lost $9 to $923, and copper climbed 2 cents to about $3.06.

 

Gold and silver equities fell nearly 2% by midmorning before they bounced back higher, but they still ended about 1% lower on the day.

 

The Economy:

 

New York Fed launches U.S. Libor contender, slow takeup seen  Reuters

Home prices spiral higher, defying forecast of tax-law hit  MarketWatch

Global money supply flashes surprise slowdown warning  Telegraph

 

Tomorrow brings ADP Employment, Factory Orders, and ISM Non-Manufacturing.

 

The Markets:

 

Oil gained almost 1% on easing trade tensions.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P closed over 1% higher on signs that President Trump is backing off from increased regulation for tech companies.

 

Among the big names making news in the market today were Disney, Spotify, and Tesla.

 

GATA Posts:

 

 

Intervention may best explain anomalies in the gold market

China acknowledges that petro-yuan challenges U.S. dollar

Ambrose Evans-Pritchard: Global money supply flashes surprise slowdown warning

Strange developments in gold and silver could end in explosions, GATA chairman says

Turk notes firmness of monetary metals amid turmoil with equities

 

The Statistics:

As of close of business: 4/2/2018

Gold Warehouse Stocks:

9,065,413.720

+4,822.50

Silver Warehouse Stocks:

262,106,890.315

-

 

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

852.312

27,402,674

US$36,264m

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$5,914m

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$6,528m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$478m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.193 tonnes.

 

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: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) operations in Africa, IAMGOLD’s (IAG) new Inferred Mineral Resource estimate, Silver Bear’s (SBR.TO) operational update, and Avino’s (ASM) 2017 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Taseko

TGB +3.51% $1.18

2.  Alio Gold

ALO +2.67% $1.92

3.  Americas Silver

USAS +2.66% $3.47

 

LOSERS

1.  Gold Fields

GFI -4.23% $3.85

2.  Sibanye

SBGL -3.68% $3.93

3.  Great Panther

GPL -3.33% $1.16

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

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