June 2: Gold and Silver Gain About 1% on the Week

Chris Mullen
|
Friday, June 2nd
 

Close

Gain/Loss

On Week

Gold

$1278.20

+$10.20

+0.88%

Silver

$17.52

+$0.21

+1.15%

XAU

83.22

+0.21%

-1.69%

HUI

191.51

+0.32%

-1.65%

GDM

631.45

+0.45%

-0.71%

JSE Gold

1306.35

-19.76

-5.84%

USD

96.68

-0.52

-0.80%

Euro

112.85

+0.70

+1.02%

Yen

90.58

+0.75

+0.80%

Oil

$47.66

-$0.70

-4.30%

10-Year

2.150%

-0.065

-4.44%

Bond

156.46875

+1.625

+1.58%

Dow

21206.29

+0.29%

+0.60%

Nasdaq

6305.80

+0.94%

+1.54%

S&P

2439.07

+0.37%

+0.96%

 
http://goldseek.com/news/2017/6-2gsr.jpg

The Metals:

 

Gold fell $8.30 to $1259.70 in Asia before it jumped up to $1279.00 in late morning New York trade and then drifted back lower in early afternoon action, but it still ended with a gain of 0.8%. Silver rose to as high as $17.571 and ended with a gain of 1.21%.

 

Euro gold rose to about €1133, platinum gained $19 to $950, and copper dropped a penny to about $2.58.

 

Gold and silver equities rose roughly 1% at the open before they fell back to unchanged at about 2PM EST, but they then bounced back higher into the close and ended with modest gains.

The Economy:

 

Report

For

Reading

Expected

Previous

Trade Balance

April

-$47.6B

-$44.3B

-$45.3B

Average Workweek

May

34.4

34.4

34.4

Unemployment Rate

May

4.3%

4.4%

4.4%

Avg. Hourly Earnings

May

0.2%

0.3%

0.2%

Nonfarm Payrolls

May

138K

185K

174K

 

The BLS net birth/death adjustment added 230,000 payrolls to May’s data. Private Payrolls rose 147,000.

 

Not So Great: 94,983,000 Americans Not in the Labor Force in May cnsnews

Traders keep bets on June rate hike after jobs report Reuters

Huge Miss: Only 138K Jobs Added In May; April Revised Much Lower As Wages Disappoint Zero Hedge

 

All of this week’s other economic reports:

 

Construction Spending - April

-1.4% v. 1.1%

ISM Index - May

54.9 v. 54.8

Initial Claims - 5/27

248K v. 235K

ADP Employment - May

253K v. 174K

Pending Home Sales Index - April

-1.3% v. -0.9%

Chicago PMI - May

59.4 v. 58.3

Consumer Confidence - May

117.9 v. 119.4

S&P Corelogic Case-Shiller - March

5.9% v. 5.9%

Personal Spending - April

0.4% v. 0.3%

Personal Income - April

0.4% v. 0.2%

 

The Markets:

 

 

Oil fell 1.5% “on worries that U.S. President Donald Trump's decision to withdraw from an international climate accord will spur further domestic production and contribute to a persistent global oversupply.”

 

The U.S. dollar index fell and treasuries rose on this morning’s disappointing jobs data.

 

The Dow, Nasdaq, and S&P rose to new record highs on thoughts that today’s data is still strong enough to warrant a rate hike at the fed’s meeting in two weeks.

 

Among the big names making news in the market Friday were Wal-Mart, Tesla, Exxon, and Spotify.

 

GATA Posts:

 

 

Incrementum publishes 'In Gold We Trust' report for 2017

 

The Statistics:

Activity from: 6/1/2017

Gold Warehouse Stocks:

8,798,342.109

-64.3

Silver Warehouse Stocks:

202,230,394.924

+668,620.303

 

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

847.452

27,246,434

US$34,726m

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$5,678m

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$6,275m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 202.97: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,605.56: No change from yesterday’s data.

 

The Miners:

 

Royal Gold’s (RGLD) resource estimate, Primero’s (PPP) operations update, and First Majestic’s (AG) resumed operations in Mexico were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Alio Gold

ALO +5.02% $4.81

2. Avino

ASM +4.86% $1.51

3. Gold Standard

GSV +4.27% $1.71

LOSERS

1. Exeter

XRA -2.43% $1.60

2. Taseko

TGB -1.96% $1.25

3. Turquoise

TRQ -1.56% $2.52

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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