• Gold: 1,194.44 0.52
  • Silver: 14.78 0.02
  • Euro: 1.157 -0.000
  • USDX: 95.25 -0.288
  • Oil: 65.81 0.44

May 18: Gold and Silver Fall Roughly 2% on the Week

Chris Mullen
|
Friday, May 18th

 

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%

 
http://www.goldseek.com/news/2018/2018-05-18_14-01-29.jpg

 

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 €1097, 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.

 

The Economy:

 

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® Gold Shares

856.167

27,526,637

US$35,537m

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$5,736m

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$6,341m

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.

 

The Miners:

 

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

 

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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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