• Gold: 1,227.62 2.50
  • Silver: 14.62 0.05
  • Euro: 1.146 0.000
  • USDX: 95.953 0.004
  • Oil: 68.9 0.15

May 1: Gold and Silver Fall Before Fed Day

Chris Mullen
|
Tuesday, May 1st

 

Close

Gain/Loss

Gold

$1305.10

-$9.60

Silver

$16.17

-$0.14

XAU

81.42

+0.34%

HUI

179.20

+0.41%

GDM

623.44

+0.16%

JSE Gold

1104.60

+8.93

USD

92.47

+0.62

Euro

119.94

-0.90

Yen

91.23

-0.35

Oil

$67.25

-$1.32

10-Year

2.969%

+0.034

T-Bond

143.1875

-0.65625

Dow

24099.05

-0.27%

Nasdaq

7130.70

+0.91%

S&P

2654.80

+0.25%

 
http://www.goldseek.com/news/2018/2018-05-01_14-04-16.jpg

 

The Metals:

 

Gold dropped $12.80 to $1301.90 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.73%. Silver slipped to as low as $16.052 and ended with a loss of 0.86%.

 

Euro gold fell to about €1088, platinum lost $10 to $892, and copper dropped 3 cents to about $3.03.

 

Gold and silver equities fell over 1% at the open, but they then rallied back higher for most of the rest of trade and ended modestly higher on the day.

 

The Economy:

 

U.S. factory activity slows; construction spending tumbles  Reuters

U.S. Factory Gauge Dips to Nine-Month Low as Inflation Heats Up  Bloomberg

Fed likely to keep rates steady; investors bet on June hike  Reuters

 

Tomorrow brings ADP Employment and a FOMC Meeting Announcement.

 

The Markets:

 

Oil fell almost 2% as the U.S. dollar index found notable gains and treasuries fell on expectations for a hawkish fed announcement tomorrow.

 

The Dow, Nasdaq, and S&P traded mixed on earnings uncertainty.

 

Among the big names making news in the market today were GM, Nissan, Facebook, Goldman Sachs, Encana, BP, and Apple.

 

GATA Posts:

 

 

Goldman Sachs to pay $110 million to resolve forex probes

Venezuela stops paying $1 billion debt to Canadian gold miner

 

The Statistics:

As of close of business: 4/30/2018

Gold Warehouse Stocks:

9,049,628.062

-

Silver Warehouse Stocks:

263,590,859.699

+642,724.06

 

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

871.196

28,009,830

US$36,599m

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$5,797m

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$6,406m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$468m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,856.67: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Gold Resource

GORO +3.35% $5.24

2.  Coeur

CDE +2.77% $7.78

3.  NovaGold

NG +2.51% $4.90

 

LOSERS

1.  Taseko

TGB -6.61 $1.13

2.  Americas Silver

USAS -4.76% $3.80

3.  Alio Gold

ALO -4.06% $1.89

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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