• Gold: 1,257.56 7.46
  • Silver: 16.77 0.20
  • Euro: 1.117 0.002
  • USDX: 97.396 -0.114
  • Oil: 42.88 0.1

May 17: Gold Gains Almost 2% While Dow Drops Nearly 2%

Chris Mullen
|
Wednesday, May 17th
 

Close

Gain/Loss

Gold

$1258.70

+$22.20

Silver

$16.89

+$0.07

XAU

86.54

+0.88%

HUI

200.55

+1.42%

GDM

647.48

+1.40%

JSE Gold

1463.87

+60.68

USD

97.52

-0.66

Euro

111.57

+0.68

Yen

90.08

+1.61

Oil

$49.07

+$0.41

10-Year

2.223%

-0.103

T-Bond

153.75

+2.15625

Dow

20606.93

-1.78%

Nasdaq

6011.24

-2.57%

S&P

2357.03

-1.82%

 
http://goldseek.com/news/GoldSeeker/2017/1.jpg
 

The Metals:

 

Gold jumped $23.70 to $1260.20 in late morning New York trade before it edged back lower into midday, but it then popped up to a new session high of $1261.10 in the last minutes of trade and ended with a gain of 1.8%. Silver rose to as high as $17.031 and ended with a gain of 0.42%.

 

Euro gold rose to about €1129, platinum gained $4 to $942, and copper dropped a penny to about $2.54.

 

Gold and silver equities rose over 2% by late morning before they drifted back lower at times, but they still ended about 1% higher on the day.

The Economy:

 

Mortgage volume drops 4.1% in latest week as younger buyers bail out CNBC

McCain says Trump’s problems are ‘reaching Watergate size’ MarketWatch

Wall Street's 'fear gauge' on track for biggest daily pop in more than 8 months MarketWatch

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Indicators.

 

The Markets:

 

Oil remained higher after the Energy Information Administration reported that crude inventories fell 1.8 million barrels, gasoline inventories fell 400,000 barrels, and distillates fell 1.9 million barrels.

 

The U.S. dollar index fell and treasuries rose markedly as the Dow, Nasdaq, and S&P dropped roughly 2% on concerns about the Trump administration.

 

Among the big names making news in the market today were Qualcomm, Salesforce, Target, Ford, and Johnson & Johnson.

 

The Statistics:

As of close of business: 5/16/2017

Gold Warehouse Stocks:

8,762,195.982

-

Silver Warehouse Stocks:

200,483,311.945

+431,783.65

 

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$34,433m

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$5,584m

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$6,163m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$452m

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: 202.29: +0.60 change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,649.70: +44.15 change from yesterday’s data.

 

The Miners:

 

WINNERS

1. Gold Fields

GFI +4.40% $3.80

2. Fortuna

FSM +4.19% $4.72

3. AngloGold

AU +4.10% $11.69

LOSERS

1. Alio Gold

ALO -7.50% $4.44

2. Taseko

TGB -5.30% $1.25

3. Turquoise

TRQ -4.27% $2.69

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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