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Weekly Wrap-Up|May 13th: Gold and Silver Fall About 1% and 2% on the Week








Chris Mullen | Friday May 13th

 

Close

Gain/Loss

On Week

Gold

$1273.70

+$5.20

-1.13%

Silver

$17.10

+$0.03

-2.01%

XAU

86.98

+0.58%

-1.74%

HUI

221.48

+1.39%

-2.06%

GDM

686.93

+0.48%

-1.22%

JSE Gold

2202.38

+59.97

-3.15%

USD

94.57

+0.40

+0.79%

Euro

113.07

-0.68

-0.86%

Yen

92.04

+0.36

-1.91%

Oil

$46.21

-$0.49

+3.47%

10-Year

1.705%

-0.052

-4.16%

Bond

166.65625

+1.21875

+0.89%

Dow

17535.32

-1.05%

-1.16%

Nasdaq

4717.67

-0.42%

-0.39%

S&P

2046.61

-0.85%

-0.51%

 
 
Precious Metals Charts

 

The Metals:

 

Gold gained $7.81 to $1276.31 in London before it fell back to $1264.22 in early New York trade, but it then rallied back higher for most of the rest of the day and ended with a gain of 0.41%.  Silver edged up to $17.169 before it dropped back to $16.878, but it also climbed back higher into the close and ended with a gain of 0.18%.

 

Euro gold rose to about €1126, platinum gained $1 to $1049, and copper remained at about $2.08.

 

Gold and silver equities rose roughly 1% in the first 20 minutes of trade and remained near the level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Apr

0.2%

0.3%

-0.1%

Core PPI

Apr

0.1%

0.1%

-0.1%

Retail Sales

Apr

1.3%

0.8%

-0.3%

Retail Sales ex-auto

Apr

0.8%

0.5%

0.4%

Business Inventories

Mar

0.4%

0.2%

-0.1%

Michigan Sentiment

May

95.8

90.0

89.0

 

All of this week’s other economic reports:

 

Import Prices - April

0.3% v. 0.3%

 

Import Prices ex-oil - April

0.1% v. -0.1%

 

Export Prices - April

0.5% v. 0.0%

 

Export Prices ex-ag. - April

0.5% v. 0.3%

 

Initial Claims - 5/07

294K v. 274K

 

Treasury Budget - April

$106.5B v. $156.7B

 

Wholesale Inventories - March

0.1% v. -0.6%

 

Next week’s economic highlights include Empire Manufacturing, the NAHB Housing Market Index, and Net Long-Term TIC Flows on Monday, CPI, Housing Starts, Building Permits, Industrial Production, Capacity Utilization on Tuesday, FOMC Minutes on Wednesday, Initial Jobless Claims and the Philadelphia Fed on Thursday, and Existing Home Sales on Friday.

 

The Markets:

 

Markets Charts

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

 

Oil fell 1.1% as the U.S. dollar index rose on better than expected economic data.

 

Treasuries saw notable gains as the Dow, Nasdaq, and S&P dropped about 1% on more poor earnings reports.

 

Among the big names making news in the market Friday were J.C. Penney, Uber, Mylan, Apple, and Lowe’s.

 

GATA Posts:

 

 

There's a world war against gold, economist Fekete says

 

The Statistics:

Activity from: 5/12/2016

Gold Warehouse Stocks:

7,562,109.956

-104.099

Silver Warehouse Stocks:

153,107,521.291

+285,291.239

 

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

845.189

27,173,667

US$34,394m

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$5,644m

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$6,238m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$457m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.72

1,116,345

US$1,401m

 Note: Change in Total Tonnes from yesterday’s data: SPDR added 3.269 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.78: 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.  MAG Silver

MVG +7.93% $13.61

2.  Coeur

CDE +5.74% $8.48

3.  B2Gold

BTG +5.34% $2.17

 

LOSERS

1.  Almaden

AAU -5.88% $1.12

2.  Freeport

FCX -5.62% $10.41

3.  Gold Standard

GSV -3.57% $1.49

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 13th, 2016
Source: Gold-Seeker.com







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