• Gold: 1,279.99 -0.17
  • Silver: 17.00 -0.04
  • Euro: 1.177 0.000
  • USDX: 93.701 0.194
  • Oil: 52 0.39

May 1: Gold and Silver Fall Almost 1% and 2%

Chris Mullen
|
Monday, May 1st
 

Close

Gain/Loss

Gold

$1257.20

-$11.20

Silver

$16.89

-$0.33

XAU

80.77

-2.80%

HUI

185.93

-3.13%

GDM

605.13

-2.38%

JSE Gold

1360.89

-11.83

USD

99.13

+0.08

Euro

108.99

+0.01

Yen

89.45

-0.31

Oil

$48.84

-$0.49

10-Year

2.322%

+0.035

T-Bond

152.125

-0.84375

Dow

20913.46

-0.13%

Nasdaq

6091.60

+0.73%

S&P

2388.33

+0.17%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-1gsr/1.jpg
 

 

The Metals:

 

Gold fell $6.70 to $1261.70 in Asia before it jumped back to unchanged at $1268.40 after this morning’s economic data was released, but it then fell to a new session low of $1254.30 in early afternoon New York trade and ended with a loss of 0.88%. Silver slipped to as low as $16.806 and ended with a loss of 1.92%.

 

Euro gold fell to about €1153, platinum lost $17 to $927, and copper climbed 5 cents to about $2.66.

 

Gold and silver equities fell roughly 3% by midday and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Mar

0.2%

0.3%

0.3%

Consumer Spending

Mar

0.0%

0.1%

0.0%

PCE Price Index

Mar

-0.2%

-0.1%

0.1%

Core PCE Price Index

Mar

-0.1%

0.0%

0.2%

ISM Manufacturing

Apr

54.8

56.5

57.2

Construction Spending

Mar

-0.2%

0.5%

1.8%

 

U.S. Congress negotiators set spending plan to avert shutdown, bolster defense Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-1gsr/1.png

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

 

Oil fell 1% on continued concerns about rising US output.

 

The U.S. dollar index ended slightly higher in mixed trade and treasuries fell as traders looked past this morning’s tepid economic data and maintained their outlook for an interest rate by the fed in June.

 

The Dow, Nasdaq, and S&P traded mostly higher on decent earnings reports.

 

Among the big names making news in the market today were UBS, BNP, RBS, Western Digital, Sony, Dish, and Amazon.

 

GATA Posts:

 

 

Gold accumulation increases in April in China, India, Russia

 

The Statistics:

As of close of business: 4/28/2017

Gold Warehouse Stocks:

8,930,998.688

-23,180.15

Silver Warehouse Stocks:

196,524,094.798

-42,329.63

 

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

853.362

27,436,446

US$34,735m

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$5,608m

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$6,220m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$451m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 204.36: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,272.97: No change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) commissioning process at the Brucejack Mine, Freeport’s (FCX) protestors in Indonesia, and Avino’s (ASM) Letter of Intent with St'át'imc Eco-Resources Ltd. were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Taseko

TGB +0.88% $1.15

2. Turquoise

TRQ +0.73% $2.75

LOSERS

1. Gold Standard

GSV -7.06% $1.58

2. Richmont

RIC -6.58% $7.10

3. Eldorado

EGO -6.56% $3.42

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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