• Gold: 1,291.65 0.71
  • Silver: 17.14 0.05
  • Euro: 1.185 0.000
  • USDX: 93.22 0.013
  • Oil: 58.46 -0.05

May 4: Gold and Silver Fall Almost 1% More

Chris Mullen
|
Thursday, May 4th
 

Close

Gain/Loss

Gold

$1228.30

-$11.20

Silver

$16.31

-$0.16

XAU

78.26

-2.87%

HUI

181.56

-2.85%

GDM

588.01

-2.61%

JSE Gold

1345.61

-15.28

USD

98.73

-0.57

Euro

109.88

+0.94

Yen

89.02

+0.27

Oil

$45.52

-$2.30

10-Year

2.350%

+0.030

T-Bond

151.875

-0.9375

Dow

20951.47

-0.03%

Nasdaq

6075.34

+0.05%

S&P

2389.52

+0.06%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-4gsr/1.jpg

 

The Metals:

 

Gold fell $13.70 to $1225.80 in midmorning New York trade before it bounce back higher at times, but it still ended with a loss of 0.9%. Sliver slipped to as low as $16.228 and ended with a loss of 0.97%.

 

Euro gold fell to about €1118, platinum gained $3 to $901, and copper dropped 3 cents to about $2.50.

 

Gold and silver equities lost roughly 3% by late morning and remained near the level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

4/29

238K

246K

257K

Trade Balance

Mar

-$43.7B

-$44.4B

-$43.8B

Productivity

Q1

-0.6%

0.1%

1.8%

Unit Labor Costs

Q1

3.0%

2.6%

1.3%

Factory Orders

Mar

0.2%

0.4%

1.2%

 

Tomorrow brings April’s jobs data and Consumer Credit.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-4gsr/1.png

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

 

Oil dropped almost 5% on “on signs that OPEC and other producing countries would not take more drastic steps to reduce the world's stubbornly persistent glut of crude.”

 

The U.S. dollar index fell with treasuries as the euro rose on expectations for the ECB to signal hawkish policy going forward.

 

The Dow, Nasdaq, and S&P traded mixed as concerns about oil’s drop were offset by decent earnings reports and news that the House “approved a bill on Thursday to repeal major parts of Obamacare and replace it with a Republican healthcare plan.”

 

Among the big names making news in the market today were HSBC, Shell, Statoil, Viacom, and General Mills.

 

GATA Posts:

 

 

Veteran coin and bullion dealer 'shocked' by 'panic selling'

 

The Statistics:

As of close of business: 5/3/2017

Gold Warehouse Stocks:

8,933,491.160

+3,552.728

Silver Warehouse Stocks:

197,555,442.588

-54,537.301

 

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$34,291m

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$5,455m

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$6,035m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$441m

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: 204.23: +0.41 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,412.74: +0.51 change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) first quarter results, McEwen’s (MUX) first quarter results, New Gold’s (NGD) senior notes offering, Comstock’s (LODE) first quarter results, Richmont’s (RIC) first quarter results, and Endeavour Silver’s (EXK) AGM results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Paramount

PZG +1.81% $1.55

2. Randgold

GOLD +0.28% $85.03

 

 

LOSERS

1. Richmont

RIC -11.33% $6.65

2. Endeavour Silver

EK -8.86% $2.88

3. First Majestic

AG -8.67% $7.16

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

© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

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