Gold Seeker Closing Report: Gold Gains While Silver Slips
| Close | Gain/Loss |
Gold | $1293.60 | +$1.70 |
Silver | $16.45 | -$0.09 |
XAU | 83.15 | +1.21% |
HUI | 179.90 | +1.45% |
GDM | 622.94 | +0.80% |
JSE Gold | 972.65 | -30.22 |
USD | 93.96 | +0.40 |
Euro | 116.98 | -0.85 |
Yen | 90.98 | +0.64 |
Oil | $71.84 | -$0.36 |
10-Year | 2.993% | -0.067 |
T-Bond | 142.375 | +1.125 |
Dow | 24886.81 | +0.21% |
Nasdaq | 7425.96 | +0.64% |
S&P | 2733.29 | +0.32% |
The Metals:
Gold dipped $2.70 to $1289.20 in Asia before it bounced back to $1297.80 in London and then fell to a new session low of $1288.30 at about 9AM EST in New York, but it then chopped back higher into the close and ended with a gain of 0.13%. Silver slipped to as low as $16.319 before it also rallied back higher, but it still ended with a loss of 0.54%.
Euro gold rose to about EUR1105, platinum lost $3 to $902, and copper fell 5 cents to about $3.06.
Gold and silver equities rose roughly 1% by late morning and remained near that level for the rest of the day.
Fed indicates it will let inflation run above 2 percent goal for 'temporary period' CNBC
Manufacturing activity at strongest level since September 2014, flash PMI data show MarketWatch
U.S.-China trade deal 'too hard to get done,' Trump says Reuters
U.S. new home sales fall less than expected in April Reuters
Trump says U.S.-China trade deal needs 'different structure' Reuters
Fed may float new ideas to market in its minutes MarketWatch
Tomorrow brings Initial Jobless Claims, the FHFA House Price Index, and Existing Home Sales.
The Markets:
Oil fell 0.5% after the Energy Information Administration reported that crude inventories rose 5.8 million barrels, gasoline inventories rose 1.9 million barrels, and distillates fell 1.0 million barrels.
The U.S. dollar index rose on geopolitical concerns that sent treasuries higher and the Dow, Nasdaq, and S&P lower throughout the morning, but the fed's calm and gradual commentary on interest rates took stocks modestly higher by the close.
Among the big names making news in the market today were Deutsche Bank, Tesla, Comcast, Tiffany, and Target.
GATA Posts:
Sunken galleon's gold has probably been hypothecated already
The Statistics:
As of close of business: 5/22/2018
Gold Warehouse Stocks: | 9,028,589.239 | -3,801.204 |
Silver Warehouse Stocks: | 268,981,681.617 | +17,694.53 |
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 | 852.041 | 27,393,963 | US$35,302m |
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$5,744m |
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$6,350m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$464m |
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.
WINNERS
1. Eurasian | EMX +4.99% $1.05 |
2. Alamos | AGI +4.79% $5.25 |
3. Gold Resource | GORO +4.44% $5.88 |
LOSERS
1. Taseko | TGB -6.40% $1.17 |
2. Sibanye | SBGL -5.26% $2.70 |
3. Americas Silver | USAS -2.45% $3.59 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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