• Gold: 1,210.00 -1.94
  • Silver: 14.15 0.00
  • Euro: 1.129 -0.003
  • USDX: 97.18 0.377
  • Oil: 56.66 0.74

July 2: Gold and Silver Fall Roughly 1%

Chris Mullen
|
Monday, July 2nd

 

Close

Gain/Loss

Gold

$1240.20

-$12.30

Silver

$15.85

-$0.24

XAU

81.11

-0.60%

HUI

173.49

-0.59%

GDM

615.97

-0.77%

JSE Gold

1060.20

+0.44

USD

94.99

+0.42

Euro

116.22

-0.57

Yen

90.27

-0.10

Oil

$73.94

-$0.21

10-Year

2.864%

+0.009

T-Bond

144.75

-0.25

Dow

24307.18

+0.15%

Nasdaq

7567.69

+0.76%

S&P

2726.71

+0.31%

 
http://www.goldseek.com/news/2018/2018-07-02_14-04-22.jpg

 

The Metals:

 

Gold fell throughout most of trade in New York and ended near its last-minute low of $1239.70 with a loss of 0.98%. Silver slipped to as low as $15.769 and ended with a loss of 1.49%.

 

Euro gold fell to about €1068, platinum lost $37 to $813, and copper dropped 2 cents to about $2.93.

 

Gold and silver equities traded mixed and ended modestly lower.

 

The Economy:

 

Largest U.S. business group attacks Trump on tariffs  Reuters

ISM manufacturing index hits 4-month high, but tariffs, shipping woes create bottlenecks  MarketWatch

Trade frictions disrupt global factory growth  Reuters

Construction spending ticks up in May as housing takes a breather  MarketWatch

 

Tomorrow brings Factory orders.

 

The Markets:

 

Oil edged lower and the U.S. dollar index rose as the euro fell on political uncertainty in Germany.

 

Treasuries saw slight losses as the Dow, Nasdaq, and S&P erased morning losses and ended higher on easing concerns about trade conflicts.

 

Among the big names making news in the market today were Adamis, VMware, Dell Technologies, and Tesla.

 

GATA Posts:

 

 

Ted Butler: The perfect double cross

U.S. dollar's share of global currency reserves keeps falling

Renminbi's worst month ever sparks U.S.-China currency war fears

 

The Statistics:

As of close of business: 6/29/2018

Gold Warehouse Stocks:

8,564,639.524

-

Silver Warehouse Stocks:

276,712,636.320

+801,981.759

 

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

819.036

26,332,819

US$32,846m

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$5,528m

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$6,111m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.473 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 268.66: -0.76 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,029.81: +64.39 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  McEwen

MUX +3.86% $2.15

2.  Harmony

HMY +3.85% $1.62

3.  Alexco

AXU +3.37% $1.38

 

LOSERS

1.  Seabridge

SA -3.59% $10.75

2.  Paramount

PZG -3.17% $1.22

3.  Turquoise

TRQ -2.82% $2.76

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

 

- Chris Mullen, Gold Seeker Report

 

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

© Gold Seeker 2018

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