• Gold: 1,258.30 1.03
  • Silver: 17.23 0.04
  • Euro: 1.123 0.002
  • USDX: 96.935 -0.303
  • Oil: 51.82 0.58

May 18: Gold and Silver Fall Roughly 1% While Stocks Rebound

Chris Mullen
|
Thursday, May 18th
 

Close

Gain/Loss

Gold

$1248.90

-$9.80

Silver

$16.61

-$0.28

XAU

84.25

-2.65%

HUI

194.86

-2.84%

GDM

633.27

-2.20%

JSE Gold

1452.56

-11.31

USD

97.80

+0.28

Euro

111.11

-0.46

Yen

89.77

-0.31

Oil

$49.35

+$0.28

10-Year

2.228%

+0.005

T-Bond

153.84375

+0.0625

Dow

20633.02

+0.27%

Nasdaq

6055.13

+0.73%

S&P

2365.72

+0.37%

 
http://goldseek.com/news/2017/5-18gsr.jpg
 

The Metals:

 

Gold gained $6.10 $1264.80 in London, but it then drifted back lower in New York and ended near its late session low of $1246.60 with a loss of 0.78%. Silver slipped to as low as $16.442 and ended with a loss of 1.66%.

 

Euro gold fell to about 1124, platinum lost $12 to $930, and copper dropped a penny to about $2.53.

 

Gold and silver equities fell over 2% in the first half hour of trade and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

5/13

232K

240K

236K

Philadelphia Fed

May

38.8

18.5

22.0

Leading Indicators

April

0.3%

0.4%

0.3%

 

Mortgage rates hold above 4% MarketWatch

 

Tomorrow brings speeches from James Bullard and John Williams.

 

The Markets:

 

Oil turned higher “after Algeria said a nine-month extension to OPEC’s production curbs would be backed by most participating countries.”

 

The U.S. dollar index cut into yesterday’s decline on mostly better than expected economic data.

 

Treasuries edged up on continued concerns about Trump’s agenda.

 

The Dow, Nasdaq, and S&P bounced back from yesterday’s notable losses.

 

Among the big names making news in the market today were Alibaba, Volvo, Ascena, Wal-Mart, Audi, Ralph Lauren, and GM.

 

GATA Posts:

 

 

Why Indian government's schemes to kill gold have failed

 

The Statistics:

As of close of business: 5/17/2017

Gold Warehouse Stocks:

8,762,195.982

-

Silver Warehouse Stocks:

200,755,309.955

+273,988.01

 

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$34,391m

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$5,569m

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$6,156m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$447m

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: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,649.70: No change from yesterday’s data.

 

The Miners:

 

Northern Dynasty (NAK) Advisory Committee, New Gold’s (NGD) closed offering, and Fortuna’s (FSM) exploration update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Alio Gold

ALO +5.63% $4.69

2. Nevsun

NSU +3.51% $2.36

3. Paramount

PZG +2.13% $1.58

LOSERS

1. Silvercorp

SVM -7.06% $3.03

2. Pan American

PAAS-5.90%$17.21

3. New Gold

NGD -5.19% $2.92

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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