Gold Seeker Closing Report: Gold and Silver Reverse Overnight Losses To End Higher
| Close | Gain/Loss |
Gold | $1292.20 | +$0.50 |
Silver | $16.50 | +$0.07 |
XAU | 82.08 | +0.03% |
HUI | 177.68 | -0.03% |
GDM | 621.69 | +0.41% |
JSE Gold | 1010.99 | -1.83 |
USD | 93.58 | -0.09 |
Euro | 117.86 | +0.18 |
Yen | 90.23 | -0.26 |
Oil | $72.24 | +$0.96 |
10-Year | 3.057% | -0.008 |
T-Bond | 141.40625 | +0.21875 |
Dow | 25013.29 | +1.21% |
Nasdaq | 7394.04 | +0.54% |
S&P | 2733.01 | +0.74% |
The Metals:
Gold fell $9.70 to $1282.00 in Asia, but it then rallied back higher throughout trade in London and New York and ended near its late session high of $1292.90 with a gain of 0.04%. Silver rose to as high as $16.516 and ended with a gain of 0.43%.
Euro gold remained at about EUR1097, platinum gained $10.50 to $894.50, and copper climbed 3 cents to about $3.09.
Gold and silver equities fell about 1% by midmorning, but they then bounced back higher into the close and ended mixed on the day.
Surging Prices, Rates Test Demand in U.S. Housing Market Bloomberg
Trade war fears ebb as U.S., China agree to continue talks Reuters
The best-case scenario is the U.S. trade gap with China will get worse MarketWatch
U.S. economy given boost from factories even as housing cooled in April: Chicago Fed MarketWatch
The Fed should lean against housing prices, top academic argues MarketWatch
Tomorrow brings the Richmond Fed Manufacturing Index.
The Markets:
Oil rose over 1% on concerns about possible sanctions on the oil industry in Venezuela "after weekend elections in the country that were viewed as illegitimate by the opposition and foreign governments."
The U.S. dollar index reversed notable overnight gains and ended near unchanged along with treasuries while the Dow, Nasdaq, and S&P gained roughly 1% after "Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China "on hold" after the two countries agreed to drop their tariff threats in favor of hashing out a broader deal."
Among the big names making news in the market today were LaSalle Hotel, Fifth Third, Tesla, and GE.
GATA Posts:
Forget about oil at $80, because the big rally is in forward prices
Eswar Prasad: America, beware -- Dollar supremacy is not forever
The Statistics:
Activity from: 5/17/2018
Gold Warehouse Stocks: | 9,032,390.443 | - |
Silver Warehouse Stocks: | 267,583,315.396 | -53,273.85 |
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(R) Gold Shares | 855.283 | 27,498,206 | US$35,419m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,729m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,331m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$463m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 0.884 tonnes.
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: -29.28 change from yesterday's data.
WINNERS
1. First Majestic | AG +2.82% $7.29 |
2. Pan American | PAAS +2.32% $18.05 |
3. Yamana | AUY +2.14% $2.87 |
LOSERS
1. DRDGOLD | DRD -4.62% $2.48 |
2. NovaGold | NG -3.31% $4.67 |
3. New Gold | NGD -3.02% $2.25 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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