• Gold: 1,244.15 0.40
  • Silver: 16.29 -0.01
  • Euro: 1.163 0.000
  • USDX: 94.257 -0.535
  • Oil: 46.93 -0.28

July 3: Gold and Silver Fall Almost 2% and 3%

Chris Mullen
|
Monday, July 3rd

Please Note: US Markets are closed on Tuesday for Independence Day.

 

Close

Gain/Loss

Gold

$1220.30

-$21.10

Silver

$16.14

-$0.47

XAU

79.01

-2.19%

HUI

181.66

-2.18%

GDM

601.11

-1.94%

JSE Gold

1185.10

-22.77

USD

96.20

+0.53

Euro

113.65

-0.59

Yen

88.21

-0.71

Oil

$46.76

+$0.72

10-Year

2.348%

+0.048

T-Bond

153.09375

-0.59375

Dow

21479.27

+0.61%

Nasdaq

6110.06

-0.49%

S&P

2429.01

+0.23%

 

The Metals:

 

Gold fell throughout most of world trade and ended near its last minute low of $1220.20 with a loss of 1.7%. Silver slipped to as low as $16.109 and ended with a loss of 2.83%.

 

Euro gold fell to about €1074, platinum lost $18.75 to $904.25, and copper fell a couple of cents to about $2.69.

 

Gold and silver equities dropped about 2% at the open and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

ISM Index

June

57.8

55.1

54.9

Construction Spending

May

0.0%

0.5%

-0.7%

 

Carmakers Outsell June Estimates in U.S. to End Drab First Half Bloomberg

 

Wednesday brings Factory Orders and FOMC Minutes.

 

The Markets:

 

Oil rose nearly 2% on sustained optimism over last week’s supply constrictions.

 

The U.S. dollar index continued to bounce back from last week's sharp loss.

 

Treasuries fell as the Dow and S&P followed the banks higher, but the Nasdaq remained weak on profit taking.

 

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

 

GATA Posts:

 

 

Digital-payments firm Paytm joins jewellers in India to promote gold

Few in U.S. want gold and silver coins when stocks seem strong

 

The Statistics:

Activity from: 6/29/2017

Gold Warehouse Stocks:

8,616,722.334

-

Silver Warehouse Stocks:

209,008,472.932

+492,620.699

 

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

852.501

27,408,761

US$33,680m

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$5,426m

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$5,996m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$438m

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 1.183 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 210.35: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,562.90: +11.76 change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) commercial production achievement, Banro’s (BAA) suspended operations in Congo, and Great Panther’s (GPL) mine acquisition were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Nevsun

NSU +2.49% $2.47

2. Turquoise Hill

TRQ +2.26% $2.71

3. Freeport

FCX +1.58% $12.20

LOSERS

1. Almaden

AAU -8.73% $1.15

2. Alio Gold

ALO -8.39% $4.15

3. First Majestic

AG -7.58% $7.68

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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