Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Roughly 2% on the Week
| Close | Gain/Loss | On Week |
Gold | $1291.70 | +$0.70 | -2.06% |
Silver | $16.43 | -$0.01 | -1.44% |
XAU | 82.06 | +0.27% | -2.15% |
HUI | 177.75 | +0.16% | -2.46% |
GDM | 619.01 | -0.25% | -3.27% |
JSE Gold | 1012.82 | -1.17 | -5.19% |
USD | 93.67 | +0.19 | +1.22% |
Euro | 117.68 | -0.28 | -1.47% |
Yen | 90.49 | +0.05 | -1.07% |
Oil | $71.28 | -$0.21 | +0.82% |
10-Year | 3.065% | -0.045 | +3.20% |
Bond | 141.21875 | +0.78125 | -1.40% |
Dow | 24715.09 | +0.00% | -0.47% |
Nasdaq | 7354.34 | -0.38% | -0.66% |
S&P | 2712.97 | -0.26% | -0.54% |
The Metals:
Gold fell $4.90 to $1286.10 at about 9AM ET before it bounced back to $1292.90 in the next couple of hours of trade and then pared back to about unchanged by midday, but it then edged back higher into the close and ended with a gain of 0.05%. Silver dipped down to $16.361 before it rallied back to $16.466, but it then edged back lower in the final minutes of trade and ended with a loss of 0.06%.
Euro gold rose above EUR1097, platinum lost $4 to $884, and copper fell 2 cents to about $3.06.
Gold and silver equities waffled near unchanged and ended mostly higher.
Mortgage rates reach seven-year high in a housing market reckoning MarketWatch
China denies it has offered a $200 billion package to slash U.S. trade gap Reuters
'Nowhere near' close to Nafta deal, U.S. negotiator says MarketWatch
Next week's economic highlights include New Home Sales and FOMC Minutes on Wednesday, Initial Jobless Claims, the FHFA House Price Index, and Existing Home Sales on Thursday, and Durable Goods Orders and Consumer Sentiment on Friday.
The Markets:
Oil edged lower on profit-taking.
The U.S. dollar index remained firm as the euro fell again on continued concerns about Italy.
Treasuries rose on worries about trade talks that held the Dow, Nasdaq, and S&P near unchanged.
Among the big names making news in the market Friday were Applied Materials, Cambridge Analytica, Spotify, and Campbell Soup.
GATA Posts:
Reihan Salam: The downside of the dollar's reserve-currency status
Ambrose Evans-Pritchard: Italy's insurgents enrage Germany and risk ECB payment freeze
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 | 856.167 | 27,526,637 | US$35,537m |
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$5,736m |
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$6,341m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$463m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 290.58: -0.51 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,013.62: +15.64 change from yesterday's data.
WINNERS
1. DRDGOLD | DRD +6.34% $2.60 |
2. Americas Silver | USAS +4.58% $3.65 |
3. McEwen | MUX +3.30% $2.19 |
LOSERS
1. Taseko | TGB -4.13% $1.16 |
2. Sibanye | SBGL -2.44% $2.80 |
3. Harmony | HMY -1.11% $1.78 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today's Gold Seeker Report can be found:
http://www.capitalupdates.com http://www.goldseek.com http://www.silverseek.com http://www.goldreview.com(C) Gold Seeker 2018
Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.
Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com's control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.