• 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 6: Gold and Silver End Slightly Lower

Chris Mullen
|
Thursday, July 6th
 

Close

Gain/Loss

Gold

$1224.70

-$0.60

Silver

$16.01

-$0.02

XAU

78.98

-1.11%

HUI

182.65

-0.88%

GDM

597.50

-1.09%

JSE Gold

1248.70

+4.04

USD

95.82

-0.45

Euro

114.19

+0.74

Yen

88.35

+0.02

Oil

$45.52

+$0.39

10-Year

2.368%

+0.040

T-Bond

152.375

-0.96875

Dow

21320.04

-0.74%

Nasdaq

6089.46

-1.00%

S&P

2409.75

-0.94%

 
http://goldseek.com/news/2017/7-6-2017%202-01-47%20PM.jpg

The Metals:

 

Gold saw slight gains in Asia before it drifted back to $1222.70 in London and then popped back higher in early New York trade, but it still ended with a loss of 0.05%. Silver slipped to as low as $15.937 and ended with a loss of 0.12%.

 

Euro gold fell to about €1072, platinum remained at $909, and copper stayed at $2.66.

 

Gold and silver equities fell roughly 1% in the first hour of trade and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

June

158K

180K

230K

Initial Claims

7/01

248K

244K

244K

Trade Gap

May

-$46.5B

-$46.2B

-$47.6B

ISM Non-Mfg Index

June

57.4

56.5

56.9

 

Tomorrow brings June’s jobs data.

 

The Markets:

 

Oil gained almost 1% after the Energy Information Administration reported that crude inventories fell 6.3 million barrels, gasoline inventories fell 3.7 million barrels, and distillates fell 1.9 million barrels.

 

The U.S. dollar index fell along with treasuries as the euro rose after ECB minutes revealed talk of removing easing bias.

 

The Dow, Nasdaq, and S&P dropped on more talk of central banks becoming less accommodative.

 

Among the big names making news in the market today were Waymo, Tesla, Liberty Interactive, Symantec, Konica Minolta, and Volkswagen.

 

GATA Posts:

 

 

Former governor of Reserve Bank of India admits gold bothers central banks

GoldMoney CEO explains the choice gold offers in currencies and payments

Philippines central bank admits rigging currency market

S. Africa's ruling party may nationalize central bank but leave it independent

 

The Statistics:

As of close of business: 7/5/2017

Gold Warehouse Stocks:

8,616,721.973

-

Silver Warehouse Stocks:

211,540,472.552

+1,176,586.75

 

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

840.669

27,028,362

US$33,093m

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$5,435m

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$6,007m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

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 5.62 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 210.31: -0.04 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,558.43: -4.47 change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) feasibility study, Buenaventura’s (BVN) preliminary 2Q17 production results and 2017 operating guidance, Banro’s (BAA) resumption of operations, SEMAFO’s (SMF.TO) second quarter production, IAMGOLD’s (IAG) drill results, Golden Star’s (GSS) drill results, Tahoe Resource’s (TAHO) dividend and temporarily suspended license, and Fortuna’s (FSM) AGM results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Pretivm

PVG +2.17% $9.87

2. Sandstorm

SAND +1.57% $3.87

3. Americas Silver

USAS +1.45% $2.79

LOSERS

1. Tahoe Resources

TAHO-33.01% $5.56

2. Northern Dynasty

NAK -7.41% $1.25

3. Silvercorp

SVM -5.74% $2.79

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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