• Gold: 1,193.94 3.80
  • Silver: 14.79 0.04
  • Euro: 1.152 0.004
  • USDX: 95.538 -0.362
  • Oil: 65.49 0.12

May 3: Gold and Silver Gain Before Jobs Day

Chris Mullen
|
Thursday, May 3rd

 

Close

Gain/Loss

Gold

$1311.40

+$6.90

Silver

$16.42

+$0.05

XAU

82.38

+0.56%

HUI

181.31

+0.40%

GDM

631.85

+1.07%

JSE Gold

1146.25

-8.48

USD

92.46

-0.35

Euro

119.90

+0.49

Yen

91.56

+0.36

Oil

$68.43

+$0.50

10-Year

2.946%

-0.030

T-Bond

143.5625

+0.3125

Dow

23930.15

+0.02%

Nasdaq

7088.15

-0.18%

S&P

2629.73

-0.23%

 
http://www.goldseek.com/news/2018/2018-05-03_14-01-15.jpg

 

The Metals:

 

Gold gained $13.50 to $1318.00 in London before it pared back in New York, but it still ended with a gain of 0.53%. Silver rose to as high as $16.583 and ended with a gain of 0.31%.

 

Euro gold rose above €1094, platinum gained $8 to $901, and copper climbed 3 cents to about $3.08.

 

Gold and silver equities rose nearly 2% at the open before they drifted back lower for most of the rest of trade, but they still ended higher on the day.

 

The Economy:

 

U.S. Trade Gap Narrows, Claims Remain Low, Productivity Tepid  Bloomberg

U.S. factory orders rise, but business equipment spending slowing  Reuters

U.S. trade deficit narrows sharply; labor market tightening  Reuters

ISM non-manufacturing index slows to four-month low in April  MarketWatch

 

Tomorrow brings April’s jobs data.

 

The Markets:

 

Oil rose almost 1% on concerns about Iran.

 

The U.S. dollar index fell and treasuries found modest gains on uncertainty about future fed policy.

 

The Dow, Nasdaq, and S&P saw notable losses for most of the morning, but they then rallied back higher in afternoon trade and ended near unchanged on hopes for progress in talks between the US and China.

 

Among the big names making news in the market today were Bombardier, Spotify, and Tesla.

 

GATA Posts:

 

 

South African gold miners settle lung-disease lawsuit

 

The Statistics:

As of close of business: 5/2/2018

Gold Warehouse Stocks:

9,049,523.232

-

Silver Warehouse Stocks:

266,799,930.020

+1,202,536.44

 

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

866.774

27,867,649

US$36,634m

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$5,836m

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$6,451m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$471m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.97: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,045.85: +189.18 change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) expanding mining complex in Mali, Turquoise Hill’s (TRQ) update on shareholder correspondence, and Endeavour Silver’s (EXK) 2017 Annual Review and Sustainability Report were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  DRDGOLD

DRD +6.25% $2.55

2.  Nevsun

NSU +1.87% $2.72

3.  Franco Nevada

FNV +1.85% $73.16

 

LOSERS

1.  Taseko

TGB -5.08% $1.12

2.  Endeavour Silver

EXK -3.29% $2.94

3.  Sibanye

SBGL -3.29% $3.53

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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