• Gold: 1,294.01 -3.14
  • Silver: 16.94 -0.04
  • Euro: 1.193 -0.001
  • USDX: 92.171 0.172
  • Oil: 50.52 -0.22

July 12: Gold and Silver Gain For The Third Day In A Row

Chris Mullen
|
Wednesday, July 12th
 

Close

Gain/Loss

Gold

$1220.30

+$3.90

Silver

$15.92

+$0.08

XAU

80.53

+0.12%

HUI

185.97

+0.59%

GDM

605.82

+0.48%

JSE Gold

1285.80

+18.12

USD

95.73

-0.02

Euro

114.18

-0.44

Yen

88.34

+0.54

Oil

$45.49

+$0.45

10-Year

2.319%

-0.040

T-Bond

152.96875

+0.90625

Dow

21532.14

+0.57%

Nasdaq

6261.17

+1.10%

S&P

2443.25

+0.73%

 
http://goldseek.com/news/2017/7-12-2017%202-02-30%20PM.jpg

The Metals:

 

Gold edged above $1220 in Asia and fell back to $1214.20 by a little after 8AM EST before it popped up to $1225.40 in the next hour of trade and then drifted back lower at times, but it still ended with a gain of 0.32%. Silver rose to as high as $16.023 ended with a gain of 0.51%.

 

Euro gold rose to about €1069, platinum gained $16 to $916, and copper climbed a penny to about $2.68.

 

Gold and silver equities rose over 1% at the open before they chopped back lower at times, but they still ended with modest gains on the day.

The Economy:

 

Full Text: Yellen Testimony to House Financial Services Panel Bloomberg

Fed's Yellen says economy steady enough for more hikes, bond wind down Reuters

Yellen Sees Inflation as Key Uncertainty, Amid Moderate Growth Bloomberg

Trump seen replacing Yellen at Fed with NEC's Cohn: Politico Reuters

Higher interest rates send mortgage applications tanking, down 7.4% CNBC

 

Tomorrow brings Initial Jobless Claims, PPI, and the Treasury Budget.

 

The Markets:

 

Oil remained higher after the EIA reported that crude oil inventories fell 7.6 million barrels, gasoline supplies fell 1.6 million barrels, and distillates rose 3.1 million barrels.

 

The U.S. dollar index ended lower in mixed trade and treasuries rose along with the Dow, Nasdaq, and S&P “after Janet Yellen signaled the Federal Reserve won’t rush to tighten monetary policy as inflation remains persistently below target.”

 

Among the big names making news in the market today were Google, Fiat Chrysler, Apple, Volkswagen, Wells Fargo, and Intel.

 

GATA Posts:

 

 

Is anyone still expecting reform from the Republicans?

Controversial Alaskan gold mine could be revived under Trump's EPA

Polyus to buy another 25% of Sukhoi Log gold deposit

'Mr. Gold' backs overhaul of Tanzania's mining laws

 

The Statistics:

As of close of business: 7/11/2017

Gold Warehouse Stocks:

8,530,229.106

-0.015

Silver Warehouse Stocks:

213,026,019.662

-1,000.85

 

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

832.391

26,762,195

US$32,406m

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$5,424m

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$5,998m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$438m

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: 211.41: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,793.73: +73.53 change from yesterday’s data.

 

The Miners:

 

Northern Dynasty’s (NAK) development with regards to the EPA’s Proposed Determination and Endeavour Silver’s (EXK) second quarter production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Alio Gold

ALO +6.53% $4.58

2. Americas Silver

USAS +5.68% $2.79

3. Paramount

PZG +5.03% $1.46

LOSERS

1. Great Panther

GPL -3.17% $1.22

2. Freeport

FCX -2.46% $12.27

3. Kinross

KGC -2.26% $3.90

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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© Gold Seeker 2017

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