Gold Seeker Closing Report: Gold and Silver Erase Early Gains To End Mixed
| Close | Gain/Loss |
Gold | $1333.40 | +$1.70 |
Silver | $16.31 | -$0.11 |
XAU | 80.84 | -0.47% |
HUI | 175.18 | -0.37% |
GDM | 610.01 | -0.63% |
JSE Gold | 1093.05 | -11.82 |
USD | 90.13 | -0.09 |
Euro | 122.86 | +0.20 |
Yen | 93.67 | -0.17 |
Oil | $63.37 | -$0.14 |
10-Year | 2.806% | +0.021 |
T-Bond | 145.50 | -0.21875 |
Dow | 24264.30 | +0.96% |
Nasdaq | 7042.11 | +1.45% |
S&P | 2644.69 | +1.16% |
The Metals:
Gold gained $16.40 to $1348.10 at about 9AM EST before it slid back lower into the close, but it still ended with a gain of 0.13%. Silver chopped between $16.528 and $16.248 and ended with a loss of 0.67%.
Euro gold remained at about EUR1086, platinum lost $9 to $914, and copper fell 4 cents to about $3.02.
Gold and silver equities saw small gains at the open before they fell to see modest losses by late morning and then rallied back higher at times, but they still ended slightly lower on the day.
China's Counterpunch to Trump's Tariffs Sparks Global Selloff Bloomberg
China threatens U.S. cars, planes and soybeans with tariffs in response to Trump MarketWatch
U.S. factory orders increase broadly in February Reuters
Growth in U.S. Service Industries Cools for a Second Month Bloomberg
Private-sector hiring up 241,000 in March, ADP says MarketWatch
Tomorrow brings Initial Jobless Claims and International Trade.
The Markets:
Oil pared early losses after the Energy Information Administration reported that crude inventories fell 4.6 million barrels, gasoline inventories fell 1.1 million barrels, and distillates rose 500,000 barrels.
The U.S. dollar index remained lower while treasuries turned down after the Dow, Nasdaq, and S&P reversed notable early losses and ended roughly 1% higher on hopes that tariffs won't harm the global economy as much as some fear.
Among the big names making news in the market today were Boeing, Apple, Tesla, CarMax, and CBS.
GATA Posts:
Craig Hemke at Sprott Money: Gold price driver isn't dollar/yen pairing anymore
The Statistics:
As of close of business: 4/3/2018
Gold Warehouse Stocks: | 9,062,198.720 | -3,215.00 |
Silver Warehouse Stocks: | 262,744,939.905 | +638,049.59 |
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(R) Gold Shares | 852.312 | 27,402,674 | US$36,527m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,955m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,580m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$481m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.28: +0.90 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: No change from yesterday's data.
Alio Gold's (ALO) drill results and Eldorado Gold's (EGO) arbitration ruling were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Alio Gold | ALO +4.17% $2.00 |
2. Buenaventura | BVN +2.37% $15.97 |
3. Coeur | CDE +2.28% $8.08 |
LOSERS
1. Alexco | AXU -5.71% $1.32 |
2. Yamana | AUY -4.33% $2.65 |
3. Harmony | HMY -4.15% $2.31 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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