• Gold: 1,232.53 2.36
  • Silver: 14.76 0.04
  • Euro: 1.147 -0.001
  • USDX: 95.942 -0.019
  • Oil: 66.44 0.3

May 9: Gold and Silver End Mixed

Chris Mullen
|
Wednesday, May 9th

 

Close

Gain/Loss

Gold

$1311.80

-$2.60

Silver

$16.49

+$0.01

XAU

82.38

-0.35%

HUI

180.27

-0.50%

GDM

632.77

+0.05%

JSE Gold

1090.34

+12.48

USD

93.12

+0.02

Euro

118.51

-0.14

Yen

91.21

-0.48

Oil

$71.14

+$2.08

10-Year

3.005%

+0.031

T-Bond

142.53125

-0.84375

Dow

24542.54

+0.75%

Nasdaq

7339.91

+1.00%

S&P

2697.79

+0.97%

 
http://www.goldseek.com/news/2018/2018-05-09_14-02-58.jpg

 

The Metals:

 

Gold fell $9.60 to $1304.80 in Asia before it climbed up to $1317.30 in late morning New York trade and then drifted back lower into the close, but it ended with a loss of just 0.2%. Silver dropped down to $16.354 before it rallied back to $16.616 and then also fell back off again, but it still ended with a gain of 0.01%.

 

Euro gold fell to about €1107, platinum gained $1 to $912, and copper remained at about $3.06.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

U.S. producer prices rise slightly after recent solid gains  Reuters

Wholesale inventories up 0.3% in March, vs 0.5% gain estimate  CNBC

US producer price index rose 0.1% in April, vs 0.3% increase expected  CNBC

 

Tomorrow brings Initial Jobless Claims, CPI, and the Treasury Budget.

 

 

The Markets:

 

Oil rose over 3% after the Energy Information Administration reported that crude inventories fell 2.2 million barrels, gasoline inventories fell 2.2 million barrels, and distillates fell 3.8 million barrels.

 

The U.S. dollar index held near unchanged in quiet trade.

 

Treasuries remained lower after today’s $25 billion auction highlighted this week’s increased supply of debt.

 

"Given the economic fundamentals... and that Treasury is not

likely to be cutting back on auction sizes anytime in the near

future, it doesn't make sense for (yields) to continue to stay

below 3 percent," said Thomas Simons, money market economist at

Jefferies & Co. in New York.

 

The Dow, Nasdaq, and S&P followed the oil market higher.

 

Among the big names making news in the market today were Papa John's, Sears, Ford, Vodafone, Electronic Arts, Boeing, and Walmart.

 

GATA Posts:

 

 

Robert Lambourne: BIS gold derivatives down in March, back up in April

 

The Statistics:

As of close of business: 5/8/2018

Gold Warehouse Stocks:

9,049,523.031

+5,823.086

Silver Warehouse Stocks:

268,034,720.603

-9,035.99

 

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$36,498m

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$5,838m

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: 289.45: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,054.63: No change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) changing policies in Africa, Seabridge Gold’s (SA) new gold zones, and Alio Gold’s (ALO) first quarter 2018 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Nevsun

NSU +4.36% $3.59

2.  Alio Gold

ALO +3.66% $1.98

3.  Buenaventura

BVN +3.31% $15.61

 

LOSERS

1.  Kinross

KGC-10.92% $3.67

2.  Coeur

CDE -3.42% $7.91

3.  Sibanye

SBGL -3.26% $2.97

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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