• Gold: 1,293.87 0.20
  • Silver: 17.28 0.01
  • Euro: 1.178 -0.001
  • USDX: 93.662 0.049
  • Oil: 56.81 1.33

July 10: Gold and Silver Edge Higher While Miners Gain 3%

Chris Mullen
|
Monday, July 10th
 

Close

Gain/Loss

Gold

$1214.10

+$1.70

Silver

$15.66

+$0.10

XAU

79.93

+3.13%

HUI

183.89

+2.79%

GDM

599.72

+2.13%

JSE Gold

1241.68

+29.57

USD

96.04

+0.03

Euro

114.01

-0.03

Yen

87.67

-0.11

Oil

$44.40

+$0.17

10-Year

2.373%

-0.013

T-Bond

151.96875

+0.3125

Dow

21408.52

-0.03%

Nasdaq

6176.39

+0.38%

S&P

2427.43

+0.09%

 
http://goldseek.com/news/2017/7-10-2017%202-02-06%20PM.jpg

The Metals:

 

Gold dipped $7.40 to $1205.00 in Asia before it jumped up to $1214.70 in London and then fell back under $1210 in early New York trade, but it then climbed to a new session high of $1215.00 by late morning and ended with a gain of 0.14%. Silver slipped to $15.197 before it climbed to as high as $15.737 and then drifted back lower, but it still ended with a gain of 0.64%.

 

Euro gold rose to about €1065, platinum lost $5 to $900, and copper remained at about $2.65.

 

Gold and silver equities saw slight losses at the open, but then then climbed steadily higher for most of the rest of trade and ended roughly 3% higher on the day.

The Economy:

 

The Big Downgrade That Fueled the Subprime Crash Bloomberg

U.S households see spending up, job prospects improving: New York Fed survey Reuters

Trump presses congressional Republicans to pass healthcare plan Reuters

 

Tomorrow brings Wholesale trade inventories.

 

The Markets:

 

Oil edged up on skepticism over output-cap prospects for Libya and Nigeria.

 

The U.S. dollar index traded mostly higher along with treasuries and the Dow, Nasdaq, and S&P on steady earnings reports and foreign policy uncertainty.

 

Among the big names making news in the market today were Shire, Roche, Tiffany, ClubCorp, Abercrombie & Fitch, and Costco.

 

GATA Posts:

 

 

Lynn Fisher: Flash crash in silver was meant to scare investors

New LME gold contract sees lackluster launch

Last week's flash crash in silver was a government operation, Turk tells KWN

World's biggest metals exchange takes on the gold elite

What's ailing gold -- futures market rigging or newsletter bullishness?

Another bullion flash crash is testing traders

 

The Statistics:

As of close of business: 7/7/2017

Gold Warehouse Stocks:

8,542,573.609

-70,868.962

Silver Warehouse Stocks:

211,844,679.102

-15,050.65

 

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

835.345

26,857,188

US$32,533m

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$5,390m

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$5,957m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$436m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.324 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 210.76: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,629.03: No change from yesterday’s data.

 

The Miners:

 

Royal Gold’s (RGLD) fiscal 2017 fourth quarter update, Seabridge Gold’s (SA) drill campaign, and Avino’s (ASM) mine update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Sandstorm

SAND +7.81% $4.14

2. Great Panther

GPL +7.69% $1.26

3. Northern Dynasty

NAK +7.14% $1.35

LOSERS

1. Taseko

TGB -4.76% $1.20

2. Tahoe Resources

TAHO -3.11% $4.99

3. Paramount

PZG -0.71% $1.40

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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