• Gold: 1,274.14 -10.76
  • Silver: 17.88 -0.07
  • Euro: 1.084 0.014
  • USDX: 99.184 -0.793
  • Oil: 49.3 -0.38

April 5: Gold and Silver Reverse Early Losses To End Barely Lower After Cautious Fed Minutes

Chris Mullen
|
Wednesday, April 5th
 

Close

Gain/Loss

Gold

$1256.10

-$0.20

Silver

$18.30

-$0.01

XAU

86.35

+0.08%

HUI

205.04

+0.25%

GDM

652.90

+0.15%

JSE Gold

1537.99

+45.26

USD

100.47

-0.10

Euro

106.65

-0.03

Yen

90.33

+0.03

Oil

$51.15

+$0.12

10-Year

2.339%

-0.020

T-Bond

151.8125

+0.15625

Dow

20648.15

-0.20%

Nasdaq

5864.48

-0.58%

S&P

2352.95

-0.31%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-5gsr/1.jpg

The Metals:

 

Gold edged up to $1257.20 in Asia before it dropped back to $1243.90 in midmorning New York trade, but it then rallied back higher in the last couple of hours of trade and ended with a loss of just 0.02%. Silver slipped to as low $18.143 and ended with a loss of just 0.05%.

 

Euro gold fell to about €1176, platinum lost $1 to $957, and copper climbed 7 cents to about $2.70.

 

Gold and silver equities traded roughly 1% lower for most of the morning, but they then bounced back higher into the close and ended with modest gains on the day.

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Mar

263K

175K

245K

ISM Services

Mar

55.2

57.0

57.6

 

Fed plans to reduce its $4.5 trillion balance sheet this year, minutes show MarketWatch

Fed wants to start unwinding the $4.5 trillion in bonds on its balance sheet CNBC

Fed’s Tarullo expects second-quarter data ‘to look pretty good’ MarketWatch

 

Tomorrow brings Initial Jobless Claims.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-5gsr/1.png

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

 

Oil pared early gains after the Energy Information Administration reported that crude inventories unexpectedly rose 1.6 million barrels, gasoline inventories fell 600,000 barrels, and distillates fell 500,000 barrels.

 

The U.S. dollar index initially rose and treasuries fell on better than expected jobs data that sent the Dow, Nasdaq, and S&P higher throughout the morning, but all of those moves completely reversed after minutes from the fed’s last meeting raised caution about the state of the markets.

 

Among the big names making news in the market today were Tesla, BMW, and Monsanto.

 

GATA Posts:

 

 

Turkey to introduce sovereign gold bonds, gold lease certificates

Gold imports surge as Turks heed Erdogan's call and vote looms

Turkey to give central bank first option on buying domestic gold, sources tell Reuters

 

The Statistics:

As of close of business: 4/4/2017

Gold Warehouse Stocks:

8,987,836.054

+84,428.317

Silver Warehouse Stocks:

191,213,956.580

-972.60

 

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

836.765

26,902,831

US$33,503m

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$5,542m

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$6,122m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$448m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.85: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,241.90: -32.39 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) work in Argentina, Goldcorp’s (GG) revenue sources, and Great Panther’s (GPL) management changes were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Almaden

AAU +7.50% $1.29

2. Taseko

TGB +5.47% $1.35

3. Richmont

RIC +2.80% $7.35

LOSERS

1. Northern Dynasty

NAK -8.21% $1.23

2. Endeavour Silver

EXK -5.63% $3.52

3. Avino

ASM -2.15% $1.82

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

- 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 2017

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