• Gold: 1,616.26 -5.46
  • Silver: 14.34 -0.06
  • Euro: 1.079 -0.002
  • USDX: 100.682 0.578
  • Oil: 28.94 4.09

May 7: Gold and Silver End Slightly Lower

Chris Mullen
|
Monday, May 7th
 

Close

Gain/Loss

Gold

$1638.70

-$3.70

Silver

$30.07

-$0.23

XAU

155.88

-0.56%

HUI

416.51

-1.30%

GDM

1208.10

-1.00%

JSE Gold

2218.68

+1.25

USD

79.59

+0.12

Euro

130.53

-0.32

Yen

125.16

-0.10

Oil

$97.94

-$0.55

10-Year

1.877%

-0.003

T-Bond

143.75

+0.0625

Dow

13008.53

-0.23%

Nasdaq

2957.76

+0.05%

S&P

1369.58

+0.04%

 
 

 

The Metals:

 

Gold fell to $1632.98 at around 11AM EST before it bounced back higher midday, but it still ended with a loss of 0.23%. Silver slipped to as low as $29.665 before it also rebounded, but it still ended with a loss of 0.76%.

 

Euro gold fell to about €1255, platinum gained $0.75 to $1523.75, and copper gained 4 cents to about $3.76.

 

Gold and silver equities traded mostly slightly lower and ended with about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Mar

$21.4B

$11.0B

$9.3B

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil fell on worries about Europe’s debt crisis.

 

The U.S. dollar index and treasuries rose in early trade on worries over political moves in Europe over the weekend, but those moves pared back to almost unchanged by the close.

 

The Dow, Nasdaq, and S&P reversed early losses and ended mixed as worries over Europe were offset by encouraging words from Warren Buffett.

 

Among the big names making news in the market today were Facebook, Google, Toyota, Dish Network, UBS and AIG.

 

GATA Posts:

 

 

India removes excise tax on gold jewelry

New York Sun: The Munger Games

Shanghai Futures Exchange starts a silver futures trade

Gold is limited government, which is more 'civilized' than the alternative

 

The Statistics:

As of close of business: 5/04/2012

Gold Warehouse Stocks:

11,050,908.844

-

Silver Warehouse Stocks:

142,018,034.446

-

 

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

awaited

awaited

US$awaited

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

awaited

awaited

US$awaited

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

awaited

awaited

US$awaited

Australian Stock Exchange (ASX)

Gold Bullion Securities

awaited

awaited

US$awaited

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.13: No change from Thursday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,585.83: +48.3 change from Thursday’s data.

 

The Miners:

 

Almaden’s (AAU) drill results, Goldcorp’s (GG) dividend, Brigus gold’s (BRD) Notes sale, Allied Nevada’s (ANV) first quarter results, Coeur’s (CDE) first quarter results, and SilverCrest’s (SVL.V) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Solitario

XPL +4.69% $1.34

2. Eurasian

EMXX+3.07% $2.35

3. Paramount

PZG +2.2% $2.30

 

LOSERS

1. Allied Nevada

ANV -10.72% $25.40

2. Extorre

XG -8.52% $3.22

3. Tanzanian Royalty

TRX -7.50% $4.07

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2012

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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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