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Closing Report|May 17th: Gold and Silver Gain While Stocks Drop 1%








Chris Mullen | Tuesday May 17th

 

Close

Gain/Loss

Gold

$1279.00

+$4.60

Silver

$17.23

+$0.09

XAU

90.93

+1.94%

HUI

230.19

+1.19%

GDM

710.17

+1.33%

JSE Gold

2225.16

+9.25

USD

94.54

-0.02

Euro

113.15

-0.05

Yen

91.68

-0.04

Oil

$48.31

+$0.59

10-Year

1.759%

+0.006

T-Bond

165.84375

+0.28125

Dow

17529.98

-1.02%

Nasdaq

4715.73

-1.25%

S&P

2047.21

-0.94%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold saw decent gains in Asia before it fell back to $1271.13 in London, but it then climbed to as high as $1282.02 in New York and ended with a gain of 0.36%.  Silver rose to as high as $17.334 and ended with a gain of 0.53%.

 

Euro gold rose to about €1130, platinum gained $2 to $1052, and copper remained at about $2.10.

 

Gold and silver equities rose roughly 2% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Housing Starts

Apr

1172K

1135K

1099K

Building Permits

Apr

1116K

1130K

1077K

CPI

Apr

0.4%

0.3%

0.1%

Core CPI

Apr

0.2%

0.2%

0.1%

Industrial Production

Apr

0.7%

0.2%

-0.9%

Capacity Utilization

Apr

75.4%

75.0%

74.9%

 

Tomorrow brings FOMC Minutes.

 

The Markets:

 

Precious Metals Charts Intraday

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose over 1% more on continued concerns about production disruptions in Canada and Nigeria.

 

The U.S. dollar index and treasuries traded mixed while the Dow, Nasdaq, and S&P fell over 1% on interest rate uncertainty.

 

Among the big names making news in the market today were Netflix, Home Depot, and Novartis.

 

GATA Posts:

 

 

'Audit the Fed' movement is taking a big step forward in Congress this week

Armed gangs confound Venezuela's bid to exploit gold mines

Paulson cut gold bets again as Soros, others rushed back

University of Michigan to invest in gold, copper mining fund

Make America gold again: Calls for everyone's favorite standard are back

Bullion Star's Ronan Manly examines the London platinum and palladium market

Soros puts $264 million in Barrick Gold, buys calls on gold ETF

 

The Statistics:

As of close of business: 5/16/2016

Gold Warehouse Stocks:

7,595,492.258

-194.638

Silver Warehouse Stocks:

153,463,578.232

+1,869.12

 

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

851.132

27,364,735

US$34,938m

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$5,683m

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$6,281m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.72

1,116,345

US$1,401m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.38: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,421.95: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Alexco

AXU +14.75% $1.40

2.  First Majestic

AG +7.57% $12.08

3.  Silver Standard

SSRI +5.05% $9.98

 

LOSERS

1.  Avino

ASM -4.76% $1.60

2.  Royal Gold

RGLD -2.26% $57.46

3.  Richmont

RIC -2.06% $8.55

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

Published:May 17th, 2016
Source: Gold-Seeker.com







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