• Gold: 1,258.66 1.39
  • Silver: 17.24 0.05
  • Euro: 1.124 0.002
  • USDX: 96.921 -0.317
  • Oil: 51.81 0.57

May 12: Gold and Silver End Near Unchanged on the Week but Miners Gain Roughly 6%

Chris Mullen
|
Friday, May 12th
 

Close

Gain/Loss

On Week

Gold

$1227.90

+$3.80

-0.11%

Silver

$16.44

+$0.12

+0.37%

XAU

84.97

+1.35%

+5.84%

HUI

197.16

+1.13%

+6.01%

GDM

633.06

+1.54%

+5.68%

JSE Gold

1425.69

+29.34

+5.95%

USD

99.20

-0.44

+0.66%

Euro

109.30

+0.62

-0.63%

Yen

88.28

-0.55

-0.68%

Oil

$47.84

+$0.01

+3.50%

10-Year

2.329%

-0.064

-0.85%

Bond

151.53125

+0.90625

-0.19%

Dow

20896.61

-0.11%

-0.53%

Nasdaq

6121.23

+0.09%

+0.34%

S&P

2390.90

-0.15%

-0.35%

 
 
http://goldseek.com/news/GoldSeeker/2017/5-12gsr/1.jpg

The Metals:

 

Gold gained $7.60 to $1231.70 at about 9AM EST before it drifted back lower in the next few hours, but it then bounced back higher into the close and ended with a gain of 0.31%. Silver rose to as high as $16.48 and ended with a gain of 0.74%.

 

Euro gold fell to about €1124, platinum gained $4 to $918, and copper climbed a couple of cents to about $2.52.

 

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

The Economy:

 

Report

For

Reading

Expected

Previous

CPI

Apr

0.2%

0.2%

-0.3%

Core CPI

Apr

0.1%

0.2%

-0.1%

Retail Sales

Apr

0.4%

0.6%

0.1%

Retail Sales ex-auto

Apr

0.3%

0.5%

0.3%

Business Inventories

Mar

0.2%

0.1%

0.2%

Michigan Sentiment

Mar

97.7

97.3

97.0

 

Fed's Harker backs two more rate hikes this year, saying 'things are looking good' MarketWatch

 

All of this week’s other economic reports:

 

PPI - April

0.5% v. -0.1%

Core PPI - April

0.4% v. 0.0%

Initial Claims - 5/06

236K v. 238K

Treasury Budget - April

$182.4B v. -$176.2B

Export Prices - April

0.2% v. 0.1%

Export Prices ex-ag. - April

0.1% v. 0.1%

Import Prices - April

0.5% v. 0.1%

Import Prices ex-oil - April

0.3% v. 0.2%

Wholesale Inventories - March

0.2% v. 0.3%

JOLTS - Job Openings - March

5.743M v. 5.682M

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/5-12gsr/1.png

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

 

Oil edged higher in mixed trade on uncertainty about OPEC’s control of the market.

 

The U.S. dollar index fell and treasuries rose on poor economic data.

 

The Dow, Nasdaq, and S&P waffled near unchanged on mixed earnings reports.

 

Among the big names making news in the market Friday were J.C. Penney, GE, Home Capital, Visteon, Nvidia, Amazon, and Fiat Chrysler.

 

GATA Posts:

 

 

Ted Butler expects silver explosion soon, but GATA has questions

TF Metals Report interviews GATA chairman about market rigging

Obama blocked this controversial Alaskan gold mine but Trump just gave it new life

 

The Statistics:

Activity from: 5/11/2017

Gold Warehouse Stocks:

8,900,499.248

-25,720.30

Silver Warehouse Stocks:

198,451,478.761

+423,511.99

 

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

851.891

27,389,151

US$33,718m

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$5,458m

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$6,032m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$441m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

36.11

1,161,080

US$1,452m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 201.69: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,531.96: No change from yesterday’s data.

 

The Miners:

 

Turquoise Hill’s (TRQ) new power purchase agreement and Northern Dynasty’s (NAK) settlement agreement were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Almaden

AAU +9.23% $1.42

2. Great Panther

GPL +9.17% $1.31

3. Alexco

AXU +4.55% $1.38

LOSERS

1. Northern Dynasty

NAK -14.29% $1.86

2. Freeport

FCX -1.46% $11.51

3. Taseko

TGB -0.86% $1.15

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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