• Gold: 1,311.87 1.62
  • Silver: 17.20 0.05
  • Euro: 1.185 0.001
  • USDX: 92.666 0.018
  • Oil: 52.14 0.05

July 13: Gold and Silver Edge Lower

Chris Mullen
|
Thursday, July 13th
 

Close

Gain/Loss

Gold

$1218.20

-$2.10

Silver

$15.73

-$0.19

XAU

79.43

-1.36%

HUI

183.14

-1.52%

GDM

600.12

-0.89%

JSE Gold

1260.68

-25.12

USD

95.72

-0.01

Euro

114.06

-0.12

Yen

88.31

-0.03

Oil

$46.08

+$0.59

10-Year

2.343%

+0.024

T-Bond

152.25

-0.53125

Dow

21553.09

+0.10%

Nasdaq

6274.44

+0.21%

S&P

2447.83

+0.19%

 
http://goldseek.com/news/2017/7-13-2017%202-06-35%20PM.jpg

The Metals:

 

Gold edged up to $1224.40 in Asia before it fell back to $1216.70 in midmorning New York trade, but it then bounced back higher into the close and ended with a loss of just 0.17%. Silver slipped to as low as $15.695 and ended with a loss of 1.19%.

 

Euro gold fell to about €1068, platinum lost $12 to $904, and copper fell a couple of cents to about $2.66.

 

Gold and silver equities fell about 1% by midmorning and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

7/08

247K

246K

250K

PPI

June

0.1%

0.0%

0.0%

Core PPI

June

0.1%

0.2%

0.3%

Treasury Budget

June

-$90.2B

-

-$88.4B

 

Trump's budget would reduce deficit by a third over the next decade, CBO says CNBC

Yellen Says Premature to Conclude Inflation Trend Falling Short Bloomberg

Mortgage rates jump as bond market finally buys what the Fed is selling MarketWatch

 

Tomorrow brings Retail Sales, CPI, Industrial Production, Capacity Utilization, Business Inventories, and Michigan Sentiment.

 

The Markets:

 

Oil rose over 1% on strong demand out of China.

 

The U.S. dollar index held near unchanged while treasuries fell after the Wall Street Journal reported that ECB President Mario Draghi is set to speak in Jackson Hole and is expected to signal optimism in the eurozone economy and reduced need for stimulus.

 

The Dow, Nasdaq, and S&P traded mostly slightly higher in relatively quiet trade.

 

Among the big names making news in the market today were Uber, Target, Delta, and Chipotle.

 

GATA Posts:

 

 

Bitcoin's acceptance among retailers is low and getting lower

German police search for stolen gold coin the size of a manhole cover

 

The Statistics:

As of close of business: 7/12/2017

Gold Warehouse Stocks:

8,522,191.606

-8,037.50

Silver Warehouse Stocks:

212,961,661.922

-64,357.74

 

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

832.391

26,762,195

US$32,616m

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$5,410m

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$5,979m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$437m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 211.41: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,855.49: +61.76 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) Q2 operating results, Richmont’s (RIC) Q2 operating results, Great Panther’s (GPL) Q2 production results, Excellon’s (EXN.TO) completed optimization plan, and Fortuna’s (FSM) Q2 production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Freeport

FCX +1.71% $12.48

2. Americas Silver

USAS +1.43% $2.83

3. Richmont

RIC +1.43% $7.10

LOSERS

1. Hecla

HL -4.37% $5.03

2. Alio Gold

ALO -4.37% $4.38

3. Avino

ASM -4.00% $1.44

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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