• Gold: 1,259.09 1.82
  • Silver: 17.19 -0.00
  • Euro: 1.124 0.003
  • USDX: 97.238 -0.113
  • Oil: 51.73 0.49

May 9: Gold and Silver Fall Again

Chris Mullen
|
Tuesday, May 9th
 

Close

Gain/Loss

Gold

$1219.80

-$7.40

Silver

$16.15

-$0.13

XAU

80.20

-0.45%

HUI

186.23

-0.27%

GDM

598.78

-0.08%

JSE Gold

1310.37

-18.23

USD

99.58

+0.47

Euro

108.78

-0.53

Yen

87.84

-0.51

Oil

$45.88

-$0.55

10-Year

2.394%

+0.013

T-Bond

150.96875

-0.34375

Dow

20975.78

-0.17%

Nasdaq

6120.59

+0.29%

S&P

2396.92

-0.10%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-9gsr/1.jpg

The Metals:

 

Gold fell $12.90 to $1214.30 in midafternoon New York trade, but it then jumped back higher into the close and ended with a loss of just 0.6%. Silver slipped to as low as $16.061 and ended with a loss of 0.8%.

 

Euro gold fell to about €1122, platinum lost $15 to $902, and copper remained at about $2.49.

 

Gold and silver equities dropped over 1% in the first hour of trade before they chopped back higher at times, but they still ended with modest losses on the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Mar

0.2%

0.2%

0.3%

JOLTS - Job Openings

Mar

5.743M

5.725M

5.682M

 

U.S. Treasury upgrades website to better track federal spending data Reuters

 

Tomorrow brings Import and Export Prices and the Treasury Budget.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-9gsr/1.png

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

 

Oil fell over 1% ahead of tomorrow’s supply data.

 

The U.S. dollar index rose and treasuries fell after today’s round of Fedspeak continued to support an interest rate hike next month.

 

The Dow, Nasdaq, and S&P saw slight gains for most of the morning, but they then turned mixed in afternoon trade and ended near unchanged in relatively quiet action.

 

Among the big names making news in the market today were Valeant, Home Capital, Allergan, and American Airlines.

 

GATA Posts:

 

 

Ronan Manly: LBMA says it will report London gold vault holdings this summer

 

The Statistics:

As of close of business: 5/8/2017

Gold Warehouse Stocks:

8,928,728.793

-

Silver Warehouse Stocks:

197,934,997.659

+981,737.80

 

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$33,422m

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$5,406m

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$5,975m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$437m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

36.11

1,161,080

US$1,452m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.184 tonnes.

 

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

Silver Trust (SLV) Total Tonnes in Trust: 10,412.74: No change from yesterday’s data.

 

The Miners:

 

Franco-Nevada's (FNV) first quarter results, Silvercorp’s (SVM) discontinued lawsuits, and Golden Minerals’ (AUMN) first quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Northern Dynasty

NAK +13.66% $2.08

2. Taseko

TGB +2.78% $1.11

3. Paramount

PZG +1.91% $1.60

LOSERS

1. Americas Silver

USAS -3.05% $2.54

2. McEwen

MUX -2.94% $2.64

3. AngloGold

AU -2.39% $10.60

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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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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