• Gold: 1,258.72 1.45
  • Silver: 17.24 0.05
  • Euro: 1.124 0.002
  • USDX: 96.916 -0.322
  • Oil: 51.81 0.57

May 11: Gold and Silver Gain With Oil

Chris Mullen
|
Thursday, May 11th
 

Close

Gain/Loss

Gold

$1224.10

+$4.80

Silver

$16.32

+$0.10

XAU

83.84

+2.86%

HUI

194.96

+2.69%

GDM

623.54

+2.36%

JSE Gold

1396.35

+29.91

USD

99.64

+0.04

Euro

108.68

+0.02

Yen

87.83

+0.31

Oil

$47.83

+$0.50

10-Year

2.393%

-0.016

T-Bond

150.65625

+0.125

Dow

20919.42

-0.11%

Nasdaq

6115.96

-0.22%

S&P

2394.44

-0.22%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-11gsr/1.jpg

The Metals:

 

Gold gained $4.80 to $1224.10 in London before it fell back to almost unchanged at about 9AM EST, but it then rose to a new session high of $1227.50 in late morning trade and ended with a gain of 0.39%. Silver rose to as high as $16.388 and ended with a gain of 0.62%.

 

Euro gold rose above €1126, platinum gained $4 to $914, and copper climbed a penny to about $2.50.

 

Gold and silver equities rose over 2% in the first hour of trade and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

5/06

236K

242K

238K

PPI

Apr

0.5%

0.2%

-0.1%

Core PPI

Apr

0.4%

0.2%

0.0%

 

Mortgage rates edge up as politics and economics muddle financial markets MarketWatch

 

Tomorrow brings CPI, Retail Sales, Business Inventories, and Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-11gsr/1.png

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

 

Oil gained over 1% more in continued reaction to yesterday’s supply data.

 

The U.S. dollar index saw slight gains along with treasuries on geopolitical uncertainty.

 

The Dow, Nasdaq, and S&P ended well off their lows but still ended lower on mixed earnings reports.

 

Among the big names making news in the market today were Wells Fargo, Macy’s, Tesla, Emirates, Snap, and Verizon.

 

GATA Posts:

 

 

Arizona legislature votes to scrap gains tax on gold and silver coins

Gold imports by India said to rise more than four-fold in April

Anomalous calm in markets, not volatility, has become the sign of crisis

At retirement dinner, Eric Sprott praises GATA's work

 

The Statistics:

As of close of business: 5/10/2017

Gold Warehouse Stocks:

8,926,219.548

-2,411.25

Silver Warehouse Stocks:

198,028,006.771

-43,370.10

 

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

851.891

27,389,151

US$33,497m

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$6,009m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

36.11

1,161,080

US$1,452m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.69: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,531.96: +119.22 change from yesterday’s data.

 

The Miners:

 

Seabridge Gold’s (SA) Annual Report, IAMGOLD’s (IAG) exploration update, Timmins Gold’s (TGD) revitalization plan and first quarter results, Excellon’s (EXN.TO) annual meeting results, and SilverCrest’s (SIL.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. B2Gold

BTG +7.49% $2.44

2. Endeavour Silver

EXK +6.87% $3.11

3. Royal Gold

RGLD +6.81% $75.29

LOSERS

1. Alexco

AXU -5.71% $1.32

2. Nevsun

NSU -1.31% $2.26

3. Freeport

FCX -0.34% $11.68

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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© Gold Seeker 2017

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