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Weekly Wrap-Up|May 20th: Gold and Silver Fall About 2% and 3% on the Week








Chris Mullen | Friday May 20th

 

Close

Gain/Loss

On Week

Gold

$1252.50

-$2.10

-1.66%

Silver

$16.51

+$0.03

-3.54%

XAU

85.44

+0.13%

-1.77%

HUI

216.49

+0.02%

-2.25%

GDM

666.10

+0.25%

-3.03%

JSE Gold

2069.78

-9.39

-6.02%

USD

95.32

-0.02

+0.79%

Euro

112.20

+0.19

-0.77%

Yen

90.81

-0.13

-1.34%

Oil

$47.75

-$0.41

+3.33%

10-Year

1.849%

+0.004

+8.45%

Bond

164.3125

-0.03125

-1.41%

Dow

17500.94

+0.38%

-0.20%

Nasdaq

4769.55

+1.21%

+1.10%

S&P

2052.32

+0.60%

+0.28%

 
 
Precious Metals Charts Intraday

 

The Metals:

 

Gold edged up to $1259.85 by a little after 9AM EST before it dropped back to $1249.05 in the next few hours of trade, but it then bounced back higher into the close and ended with a loss of just 0.16%.  Silver climbed to $16.647 before it fell back to $16.418, but it then rallied back higher into the close and ended with a gain of 0.18%.

 

Euro gold fell to about €1117, platinum gained $9.50 to $1019, and copper remained at about $2.06.

 

Gold and silver equities waffled near unchanged and ended with slight gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Existing Home Sales

Apr

5.45M

5.40M

5.36M

 

All of this week’s other economic reports:

 

Leading Indicators - April

0.6% v. 0.0%

 

Philadelphia Fed - May

-1.8 v. -1.6

 

Initial Claims - 5/14

278K v. 294K

 

Industrial Production - April

0.7% v. -0.9%

 

Capacity Utilization - April

75.4% v. 74.9%

 

Housing Starts - April

1172K v. 1099K

 

Building Permits - April

1116K v. 1077K

 

CPI - April

0.4% v. 0.1%

 

Core CPI - April

0.2% v. 0.1%

 

Net Long-Term TIC Flows - March

$78.1B v. $72.6B

 

NAHB Housing Market Index - May

58 v. 58

 

Empire Manufacturing - May

-9.0 v. 9.6

 

Next week’s economic highlights include New Home Sales on Tuesday, the FHFA Housing Price Index on Wednesday, Initial Jobless Claims, Durable Goods Orders, and Pending Home Sales on Thursday, and GDP and Michigan Sentiment on Friday.

 

The Markets:

 

Stock Market Charts Intraday

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

 

Oil fell on news of resumed exports out of Libya.

 

The U.S. dollar index held near unchanged along with treasuries while the Dow, Nasdaq, and S&P bounced back from yesterday’s losses.

 

Among the big names making news in the market Friday were Deere, Tesla, and AB Inbev/SABMiller.

 

GATA Posts:

 

Gold Anti-Trust Action Committee

 

Counterfeit gold and silver coins burning buyers

 

The Statistics:

Activity from: 5/19/2016

Gold Warehouse Stocks:

7,760,598.488

+31,957.10

Silver Warehouse Stocks:

154,565,822.704

+1,028,289.903

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Exchange Traded Gold

 

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

860.343

27,660,874

US$34,685m

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$5,552m

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$6,136m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.36

1,136,896

US$1,417m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.457 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 199.43: +0.45 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.  Endeavour Silver

EXK +5.06% $3.53

2.  DRDGOLD

DRD +4.21% $5.45

3.  MAG Silver

MVG +4.10% $13.72

 

LOSERS

1.  Sandstorm

SAND-5.07% $3.93

2.  Paramount

PZG -4.38% $1.53

3.  Turquoise

TRQ -2.12% $2.77

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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© Gold Seeker 2016

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Published:May 20th, 2016
Source: Gold-Seeker.com







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