• Gold: 1,257.41 1.43
  • Silver: 17.17 0.01
  • Euro: 1.120 -0.001
  • USDX: 97.248 0.01
  • Oil: 48.4 -0.36

April 7: Gold and Silver End Near Unchanged on the Week

Chris Mullen
|
Friday, April 7th
 

Close

Gain/Loss

On Week

Gold

$1254.60

+$2.90

+0.59%

Silver

$17.99

-$0.24

-1.21%

XAU

86.12

-0.18%

+2.81%

HUI

203.82

-0.01%

+3.34%

GDM

654.86

+0.22%

+3.49%

JSE Gold

1605.95

+58.66

+16.3%

USD

101.16

+0.43

+0.70%

Euro

105.98

-0.44

-0.65%

Yen

89.92

-0.35

+0.09%

Oil

$52.24

+$0.54

+3.24%

10-Year

2.384%

+0.045

-0.29%

Bond

151.34375

-0.375

+0.37%

Dow

20656.10

-0.03%

-0.03%

Nasdaq

5877.81

-0.02%

-0.57%

S&P

2355.54

-0.08%

-0.30%

 
 
http://goldseek.com/news/GoldSeeker/2017/4-7gsr/1.jpg

The Metals:

 

Gold gained $18.60 to $1270.30 in early New York and before it fell all of the way back to $1251.40 by midafternoon, but then bounced back higher into the close and ended with a gain of 0.23%. Silver rose to as high as $18.459 before it dropped back to $17.872 and then also rallied back higher in late trade, but it still ended with a loss of 1.32%.

 

Euro gold rose to about €1184, platinum lost $2 to $951, and copper dropped a penny to about $2.67.

 

Gold and silver equities rose over 2% at the open before they fell to see almost 1% losses in early afternoon trade, but they then edged back higher in late trade and ended near unchanged.

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Mar

98K

180K

219K

Unemployment Rate

Mar

4.5%

4.7%

4.7%

Avg. Hourly Earnings

Mar

0.2%

0.3%

0.3%

Average Workweek

Mar

34.3

34.4

34.3

Wholesale Inventories

Feb

0.4%

0.4%

-0.2%

Consumer Credit

Feb

$15.2B

$14.0B

$10.9B

 

The BLS net birth/death adjustment added 32,000 payrolls to March’s data. Private Payrolls rose 89,000.

 

Fed might avoid simultaneous rate hike, bond runoff -Dudley Reuters

 

All of this week’s other economic reports:

 

Initial Claims - 4/01

234K v. 259K

ISM Services - March

55.2 v. 57.6

ADP Employment - March

263K v. 245K

Factory Orders - February

1.0% v. 1.5%

Trade Balance - February

-$43.6B v. -$48.2B

Construction Spending - February

0.8% v. -0.4%

ISM Index - March

57.2 v. 57.7

 

Next week’s economic highlights include Export and Import Prices on Wednesday, and Initial Jobless Claims, PPI, and Michigan Sentiment on Thursday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/4-7gsr/1.png

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

 

Oil gained over 1% on geopolitical concerns after last night’s missile strike against Syria.

 

The U.S. dollar index ultimately rose and treasuries fell while the Dow, Nasdaq, and S&P clawed back to almost unchanged in afternoon trade on the view that this morning’s mixed jobs data will not alter the fed’s plan to raise interest rates.

 

Among the big names making news in the market Friday were General Mills, Carnival, Twitter, Deutsche Bank, and Samsung.

 

GATA Posts:

 

 

Keith Barron of Fruta del Norte fame is back in Ecuador, and this is what he's up to

Free banking could disappear if global interest rates stay low, IMF warns

 

The Statistics:

Activity from: 4/6/2017

Gold Warehouse Stocks:

9,013,909.704

-3,022.10

Silver Warehouse Stocks:

188,468,500.881

-1,325,617.491

 

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

836.487

26,893,878

US$34,057m

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$5,621m

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$6,212m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$450m

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 subtracted 0.278 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 200.26: +0.45 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,208.21: -29.45 change from yesterday’s data.

 

The Miners:

 

Banro’s (BAA) recapitalization update and Coeur’s (CDE) first quarter production and sales results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Richmont

RIC +3.29% $7.85

2. Paramount

PZG +2.48% $1.65

3. Northern Dynasty

NAK +2.42% $1.27

LOSERS

1. Almaden

AAU -4.44% $1.29

2. Endeavour Silver

EXK -4.19% $3.43

3. Alexco

AXU -2.53% $1.54

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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© Gold Seeker 2017

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