• Gold: 1,268.12 0.82
  • Silver: 16.32 0.01
  • Euro: 1.161 0.000
  • USDX: 94.843 0.1
  • Oil: 66.46 0.52

May 17: Gold and Silver Chop Near Unchanged

Chris Mullen
|
Thursday, May 17th

 

Close

Gain/Loss

Gold

$1291.00

+$0.60

Silver

$16.44

+$0.07

XAU

81.84

-0.12%

HUI

177.47

-0.17%

GDM

620.47

-0.22%

JSE Gold

1013.99

-2.72

USD

93.48

+0.08

Euro

117.96

-0.08

Yen

90.44

-0.39

Oil

$71.49

UNCH

10-Year

3.110%

+0.013

T-Bond

140.375

-0.5625

Dow

24713.98

-0.22%

Nasdaq

7382.47

-0.21%

S&P

2720.13

-0.09%

 
http://www.goldseek.com/news/2018/2018-05-17_14-03-18.jpg

 

The Metals:

 

Gold saw slight gains in Asia before it dropped back to $1285.40 in London and then rebounded in New York, but it ended with a gain of just 0.05%. Silver chopped between $16.325 and $16.489 and ended with a gain of 0.43%.

 

Euro gold rose above €1094, platinum gained $2 to $888, and copper climbed a penny to about $3.08.

 

Gold and silver equities drifted lower and ended with modest losses.

 

The Economy:

 

Leading indicators up for sixth straight month  CNBC

U.S., China launch trade talks to avert tariff war, economic damage  Reuters

Philly Fed manufacturing index rises to better-than-expected 34.4 in May  MarketWatch

U.S. weekly jobless claims rise; unemployment rolls smallest in 45 years  Reuters

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

Oil erased early gains and ended unchanged on easing concerns about Iran.

 

The U.S. dollar index found slight gains and treasuries fell on steady economic data that sent interest rates higher and the Dow, Nasdaq, and S&P slightly lower.

 

Among the big names making news in the market today were AIG, Wells Fargo, Cisco, Walmart, and J.C. Penney.

 

GATA Posts:

 

 

Italy's insurgent parties want debt forgiveness and exit from EU

Who cares about 'peak gold' until there's 'peak paper'?

As currency crisis worsens, Iranians invest in gold

 

The Statistics:

As of close of business: 5/16/2018

Gold Warehouse Stocks:

9,032,390.443

-11,912.147

Silver Warehouse Stocks:

267,636,589.284

+89,675.068

 

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

856.167

27,526,637

US$35,537m

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$5,725m

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$6,326m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$463m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 291.09: -0.99 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,998.98: +58.57 change from yesterday’s data.

 

The Miners:

 

SEMAFO’s (SMF.TO) commissioning and Centerra Gold’s (CG.TO) $200 million sale were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +3.17% $5.85

2.  Coeur

CDE +2.61% $8.26

3.  McEwen

MUX +2.42% $2.12

 

LOSERS

1.  Gold Standard

GSV -2.58% $1.51

2.  AngloGold

AU -2.46% $8.31

3.  Tahoe Resources

TAHO -2.06% $4.75

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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