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Gold Seeker Closing Report: Gold and Silver End Mixed
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 16 May 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1290.40

-$2.10

Silver

$16.37

+$0.09

XAU

81.93

+0.20%

HUI

177.77

-0.11%

GDM

622.01

-0.19%

JSE Gold

1016.71

-24.50

USD

93.40

+0.16

Euro

118.04

-0.42

Yen

90.83

+0.05

Oil

$71.49

+$0.18

10-Year

3.097%

+0.025

T-Bond

140.90625

-0.15625

Dow

24768.93

+0.25%

Nasdaq

7398.30

+0.63%

S&P

2722.46

+0.41%

 
http://www.goldseek.com/news/2018/2018-05-16_14-01-05.jpg

 

The Metals:

 

Gold gained $4.30 to $1296.80 in Asia before it dropped back to $1286.50 in London and then bounced back higher in New York, but it still ended with a loss of 0.16%. Silver edged up to $16.342 before it fell back to $16.187, but it then climbed to new session highs into the close and ended with a gain of 0.55%.

 

Euro gold rose to about €1093, platinum lost $12 to $886, and copper climbed a couple of cents to about $3.07.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

U.S. manufacturing output rises; past months revised lower  Reuters

Housing starts drop 3.7% in April but stick near 11-year high  MarketWatch

Fed's Bostic Says Job Is to Prevent Inversion of Yield Curve  Bloomberg

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Indicators.

 

The Markets:

 

Oil turned slightly higher after the Energy Information Administration reported that crude inventories fell 1.4 million barrels, gasoline inventories fell 3.8 million barrels, and distillates fell 92,000 barrels.

 

The U.S. dollar index traded mostly higher as the euro fell following “reports that a likely future Italian government would seek debt forgiveness from European creditors.”

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P mostly rose on decent economic data and surprisingly positive results from Macy’s.

 

Among the big names making news in the market today were Netflix, Amazon, and Macy’s.

 

GATA Posts:

 

 

LBMA suspends Russian precious metals refinery from 'good delivery' lists

China's holdings of U.S. Treasuries rise to a 5-month high

 

The Statistics:

As of close of business: 5/15/2018

Gold Warehouse Stocks:

9,044,302.590

-5,021.758

Silver Warehouse Stocks:

267,546,927.386

-995.30

 

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$5,729m

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$6,325m

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: 292.08: -0.62 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,940.41: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) grant of awards to directors, Yamana Gold’s (AUY) first quarter production, Avino’s (ASM) first quarter results, and MAG Silver’s (MAG) first quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Resource

GORO +5.98% $5.67

2.  Freeport

FCX +4.26% $16.64

3.  Taseko

TGB +2.56% $1.20

 

LOSERS

1.  Avino

ASM -4.90% $1.36

2.  Harmony

HMY -3.78% $1.78

3.  Seabridge

SA -2.80% $10.40

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.

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.

 


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 -- Published: Wednesday, 16 May 2018 | E-Mail  | Print  | Source: GoldSeek.com

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