• Gold: 1,274.60 -0.80
  • Silver: 16.25 -0.05
  • Euro: 1.159 0.001
  • USDX: 94.998 0.37
  • Oil: 64.89 -0.85

May 25: Gold and Silver Find Slight Gains on the Week

Chris Mullen
|
Friday, May 25th

Please Note: There will be no Gold Seeker Reports next week.

 

 

Close

Gain/Loss

On Week

Gold

$1300.40

-$4.00

+0.67%

Silver

$16.50

-$0.16

+0.43%

XAU

83.48

-1.07%

+1.73%

HUI

180.20

-1.14%

+1.38%

GDM

623.06

-1.05%

+0.65%

JSE Gold

977.99

-15.03

-3.44%

USD

94.20

+0.43

+0.57%

Euro

116.61

-0.62

-0.91%

Yen

91.48

-0.18

+1.09%

Oil

$67.88

-$2.83

-4.77%

10-Year

2.928%

-0.044

-4.47%

Bond

143.875

+1.09375

+1.88%

Dow

24753.09

-0.24%

+0.15%

Nasdaq

7433.85

+0.13%

+1.08%

S&P

2721.33

-0.24%

+0.31%

 
http://www.goldseek.com/news/2018/2018-05-25_14-01-19.jpg

 

The Metals:

 

Gold chopped up to $1307.80 at about 9AM EST before it drifted back lower into the close, but it ended with a loss of just 0.31%. Silver slipped to as low as $16.489 and ended with a loss of 0.36%.

 

Euro gold rose to about €1115, platinum lost $11 to $897, and copper fell a couple of cents to about $3.07.

 

Gold and silver equities fell over 1% by midafternoon and remained near that level for the rest of the day.

 

The Economy:

 

Tax breaks for home mortgages to sink 30% in 2018 due to Trump tax law, study shows  MarketWatch

Sentiment in U.S. Eases on Less-Favorable Buying Conditions  Bloomberg

Durable-goods orders sink 1.7% in April, but strip out Boeing planes and the numbers look good  MarketWatch

 

The Markets:

 

Oil fell 4% on continued talk about OPEC raising output.

 

The U.S. dollar index rose on easing geopolitical tensions with North Korea.

 

Treasuries saw notable gains on “concerns about Italy’s new government and a leadership challenge in Spain.”

 

The Dow and S&P followed the oil market lower while the Nasdaq edged up on positive news from chipmakers.

 

Among the big names making news in the market Friday were Broadcom, ZTE Corp., Tesla, and Fiat Chrysler.

 

GATA Posts:

 

 

Part 4 from 'American Default': Victory in gold battle saved the New Deal

Jim Rickards: 'Axis of Gold' readies gold-based payment system to evade U.S. control

Part 3 from 'American Default': If gold won't go up, push the dollar down

 

The Statistics:

Activity from: 5/24/2018

Gold Warehouse Stocks:

9,015,966.530

-12,622.709

Silver Warehouse Stocks:

270,040,614.347

-

 

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

852.041

27,393,963

US$35,698m

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$5,790m

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$6,400m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$467m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 290.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,984.34: No change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) Strategic Agreement update, McEwen’s (MUX) PEA, and Northern Dynasty’s (NAK) terminated Framework Agreement were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Seabridge

SA +5.91% $11.65

2.  DRDGOLD

DRD +2.29% $2.68

3.  Eurasian

EMX +1.85% $1.10

 

LOSERS

1.  Sibanye

SBGL -6.11% $2.46

2.  Silvercorp

SVM -4.26% $2.92

3.  Pretivm

PVG -3.87% $6.96

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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