May 30: Gold and Silver End Mixed To Start Jobs Week

Chris Mullen
|
Tuesday, May 30th
 

Close

Gain/Loss

Gold

$1263.10

-$3.90

Silver

$17.41

+$0.09

XAU

83.45

-1.41%

HUI

191.59

-1.61%

GDM

630.03

-0.95%

JSE Gold

1357.45

-10.93

USD

97.28

-0.18

Euro

111.93

+0.22

Yen

90.27

+0.41

Oil

$49.77

-$0.03

10-Year

2.208%

-0.042

T-Bond

154.71875

+0.53125

Dow

21029.47

-0.24%

Nasdaq

6203.19

-0.11%

S&P

2412.91

-0.12%

 
http://goldseek.com/news/2017/5-30-2017%202-16-27%20PM.jpg

The Metals:

 

Gold edged up to $1270.40 in Asia before it drifted back down to $1259.50 at about 8:30AM EST and then bounced back higher into midday, but it still ended with a loss of 0.31%. Silver gained $0.15 to $17.47 in Asia before it dropped back to $17.215 in early New York trade, but it then rallied back higher into the close and ended with a gain of 0.52%.

 

Euro gold fell to about €1129, platinum lost $20 to $937, and copper remained at about $2.57.

 

Gold and silver equities fell roughly 1% at the open and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

April

0.4%

0.4%

0.2%

Personal Spending

April

0.4%

0.4%

0.3%

S&P Corelogic Case-Shiller

Mar

5.9%

5.8%

5.9%

Consumer Confidence

May

117.9

119.0

119.4

 

Tomorrow brings Chicago PMI, Pending Home Sales Index, and the fed’s Beige Book.

 

The Markets:

 

 

Oil edged lower on continued concerns about an oversupplied market.

 

The U.S. dollar index fell as the pound and euro bounced back from last week’s politically-driven losses.

 

Treasuries rose and the Dow, Nasdaq, and S&P dropped on economic uncertainty as traders await this Friday’s jobs report and its implications for the future of interest rate hikes by the fed.

 

Among the big names making news in the market today were Amazon, TiVo, Smucker, and British Airways.

 

GATA Posts:

 

 

Five big reasons why people are still skeptical about bitcoin

Hong Kong needs around-the-clock gold trading

 

The Statistics:

As of close of business: 5/26/2017

Gold Warehouse Stocks:

8,812,789.012

+1,499.98

Silver Warehouse Stocks:

202,149,315.773

+1,161,741.432

 

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$34,393m

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$5,610m

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$6,199m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$453m

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: +0.15 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,605.56: -29.43 change from yesterday’s data.

 

The Miners:

 

Taseko’s (TGB) notes offering and Alexco’s (AXU) financing were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Exeter

XRA +3.14% $1.64

2. Alio Gold

ALO +2.16% $4.72

3. Alamos

AGI +1.08% $6.53

LOSERS

1. Almaden

AAU -7.59% $1.34

2. Silvercorp

SVM -6.17% $2.89

3. Gold Fields

GFI -4.99% $3.62

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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