• Gold: 1,515.34 -0.73
  • Silver: 17.96 0.01
  • Euro: 1.101 -0.001
  • USDX: 98.513 0.267
  • Oil: 58.45 -0.28

May 28: Gold and Silver Fall About 1%

Chris Mullen
|
Tuesday, May 28th
 

Close

Gain/Loss

Gold

$1381.00

-$13.70

Silver

$22.30

-$0.36

XAU

100.04

-0.54%

HUI

253.14

-0.88%

GDM

754.62

-0.94%

JSE Gold

1351.40

-7.74

USD

84.22

+0.55

Euro

128.59

-0.76

Yen

97.73

-1.04

Oil

$95.01

+$0.86

10-Year

2.135%

+0.124

T-Bond

140.84375

-2.125

Dow

15409.39

+0.69%

Nasdaq

3488.88

+0.86%

S&P

1660.06

+0.63%

 
 

The Metals:

 

Gold fell over $21 to $1373.66 at about 10:15AM EST before it rose to as high as $1401.20 in the next hour and a half of trade, but it then fell back off into the close and ended with a loss of 0.98%. Silver slipped to $22.14 before it climbed back to $22.634, but it then fell back off in early afternoon trade and ended with a loss of 1.59%.

 

Euro gold fell to about €1074, platinum gained $8 to $1456, and copper climbed slightly to about $3.31.

 

Gold and silver equities saw decent gains in late morning trade, but they then fell back off midday and ended with almost 1% losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Mar

10.9%

10.1%

9.3%

Consumer Confidence

May

76.2

72.5

68.1

 

Tomorrow at 7AM EST brings the MBA Mortgage Index for 5/25.

 

The Markets:

 

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

 

Oil rose along with the U.S. dollar index on stronger than expected economic data that sent treasuries lower.

 

The Dow, Nasdaq, and S&P climbed higher on optimism about the global economy.

 

Among the big names making news in the market today were News Corp, American Realty and CapLease, Tiffany, Valeant and Bausch & Lomb, and Tesla.

 

GATA Posts:

 

 

Belgium's central bank reports that 10% of its gold reserves are loaned out

Grant Williams: The gold price is not the price of gold

Fort Knox, Fort Hocks, or Fort Shocks: Three U.S. gold scenarios

Central banks boosted gold holdings in April

GoldMoney's James Turk refutes Warren Buffett on gold

 

The Statistics:

As of close of business: 5/24/2013

Gold Warehouse Stocks:

8,057,105.446

+63,838.797

Silver Warehouse Stocks:

166,724,635.710

-1,011.60n

 

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)

SPDR® Gold Shares

1016.161

32,670,594

US$44,952m

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$6,194m

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$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$495m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 188.39.

Silver Trust (SLV) Total Tonnes in Trust: 10,022.95.

 

The Miners:

 

WINNERS

1. Pretivm

PVG +6.54% $7.66

2. Solitario

XPL +4.55% $1.15

3. Banro

BAA +4.12% $1.01

LOSERS

1. Aurizon

AZK -14.87% $3.55

2. DRDGOLD

DRD -7.25% $5.12

3. Allied Nevada

ANV -2.97% $7.19

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

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© Gold Seeker 2013

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