• Gold: 1,188.77 -5.57
  • Silver: 14.95 -0.12
  • Euro: 1.132 -0.002
  • USDX: 96.821 0.004
  • Oil: 66.79 0.16

May 7: Gold and Silver Hold Near Unchanged

Chris Mullen
|
Monday, May 7th

 

Close

Gain/Loss

Gold

$1314.30

+$0.30

Silver

$16.47

-$0.03

XAU

81.99

-0.50%

HUI

180.21

-0.65%

GDM

632.09

-0.05%

JSE Gold

1088.69

-26.37

USD

92.77

+0.17

Euro

119.23

-0.34

Yen

91.59

-0.14

Oil

$70.73

+1.01

10-Year

2.950%

+0.005

T-Bond

143.50

-0.15625

Dow

24357.32

+0.39%

Nasdaq

7265.21

+0.77%

S&P

2672.63

+0.35%

 
http://www.goldseek.com/news/2018/2018-05-07_14-02-56.jpg

 

The Metals:

 

Gold gained $4.80 to $1318.80 in Asia before it fell back to $1310.30 by a little after 8AM EST, but it then bounced back higher in New York and ended with a gain of 0.02%. Silver chopped between $16.568 and $16.404 and ended with a loss of 0.18%.

 

Euro gold rose above €1102, platinum gained $0.50 to $909, and copper dropped a penny to about $3.07.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Consumer credit growth in March slowest in six months as credit-card use drops  MarketWatch

 

Tomorrow brings the Labor Department's JOLTS report.

 

The Markets:

 

Oil rose over 1% on continued concerns about what the US will do about Iran’s nuclear deal. An announcement is now expected at 2PM EST tomorrow.

 

The U.S. dollar index remained firm and treasuries edged lower on worries about inflation and fed policy.

 

The Dow, Nasdaq, and S&P gained roughly 1% in the first half hour of trade on deal-making news before they chopped back lower in afternoon trade, but they still ended with decent gains on the day.

 

Among the big names making news in the market today were Air France, Blackstone and Gramercy, Cognizant, Nestlé and Starbucks, and GE.

 

GATA Posts:

 

 

Nigeria, China sign $2.4 billion currency swap to lift trade

 

The Statistics:

As of close of business: 5/4/2018

Gold Warehouse Stocks:

9,049,523.232

-

Silver Warehouse Stocks:

266,738,463.473

+140,467.88

 

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

864.127

27,782,535

US$36,377m

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$5,843m

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$6,457m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$471m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.468 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 288.97: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,083.92: +38.07 change from yesterday’s data.

 

The Miners:

 

NovaGold’s (NG) AGM results, Great Panther’s (GPL) COO departure, and Endeavour Silver’s (EXK) AGM results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +2.56% $1.60

2.  Coeur

CDE +1.37% $8.14

3.  IAMGOLD

IAG +0.89% $5.69

 

LOSERS

1.  Sibanye

SBGL -9.57% $3.12

2.  NovaGold

NG -5.38% $4.75

3.  AngloGold

AU -3.82% $8.56

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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