• Gold: 1,224.24 1.01
  • Silver: 14.35 -0.07
  • Euro: 1.140 -0.005
  • USDX: 96.515 0.288
  • Oil: 54.73 -2.66

May 11: Gold and Silver End Slightly Higher on the Week

Chris Mullen
|
Friday, May 11th

 

Close

Gain/Loss

On Week

Gold

$1318.90

-$1.70

+0.37%

Silver

$16.67

-$0.05

+1.03%

XAU

83.86

+0.07%

+1.77%

HUI

182.24

-0.06%

+0.47%

GDM

639.91

-0.00%

+1.16%

JSE Gold

1068.30

+8.70

-4.19%

USD

92.54

-0.12

-0.06%

Euro

119.44

+0.19

-0.11%

Yen

91.47

+0.13

-0.28%

Oil

$70.70

-$0.66

+1.41%

10-Year

2.970%

+0.003

+0.85%

Bond

143.21875

+0.03125

-0.22%

Dow

24831.17

+0.37%

+2.34%

Nasdaq

7402.88

-0.03%

+2.68%

S&P

2727.72

+0.17%

+2.41%

 
http://www.goldseek.com/news/2018/2018-05-11_14-01-10.jpg

 

The Metals:

 

Gold gained $5.30 to $1325.90 at about 8AM EST before it drifted back lower in New York, but it ended with a loss of just 0.13%. Silver rose to as high as $16.828 and ended with a loss of 0.3%.

 

Euro gold fell to about €1104, platinum lost $2 to $921, and copper remained at about $3.11.

 

Gold and silver equities saw slight gains for most of the morning before they turned modestly lower in afternoon trade, but they edged back higher into the close and ended mixed.

 

The Economy:

 

Homebuilders poised for gains but face interest-rate fears  Reuters

Consumer sentiment is unchanged in early May, University of Michigan says  MarketWatch

Fed's Bullard says households on same footing as employers in labor market  MarketWatch

U.S. import prices rise less than expected in April  Reuters

 

Next week’s economic highlights include Empire State Manufacturing, Business Inventories, and the Housing Market Index on Tuesday, Housing Starts and Industrial Production on Wednesday, and Initial Jobless Claims, the Philadelphia Fed, and Leading Indicators on Thursday.

 

The Markets:

 

Oil held onto a good portion of this week’s gains on continued concerns about Iran.

 

The U.S. dollar index dropped again on thoughts that tame inflation data will influence the fed to hold off on raising their interest rate forecasts.

 

Treasuries held near unchanged as the Dow, Nasdaq, and S&P traded mostly higher on easing worries about inflation and trade.

 

Among the big names making news in the market Friday were Facebook, Thomson Reuters, Symantec, Dropbox, Trade Desk, and Nvidia.

 

GATA Posts:

 

 

GATA board member Steer interviewed about commodity price suppression

Putin says he wants to break with the dollar but dumps euros instead

 

The Statistics:

Activity from: 5/10/2018

Gold Warehouse Stocks:

9,049,522.743

-

Silver Warehouse Stocks:

268,536,133.853

-113,091.15

 

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

862.947

27,744,623

US$36,586m

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$5,885m

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$6,504m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$475m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 290.40: +0.44 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,054.63: No change from yesterday’s data.

 

The Miners:

 

Almaden’s (AAU) private placement, Excellon’s (EXN.TO) Annual and Special Meeting results, and Alexco’s (AXU) first quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Paramount

PZG +3.60% $1.44

2.  Pretivm

PVG +3.46% $7.17

3.  Gold Standard

GSV +1.56% $1.63

 

LOSERS

1.  Nevsun

NSU -5.59% $3.55

2.  Americas Silver

USAS -2.88% $3.71

3.  Alexco

AXU -2.63% $1.48

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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