• Gold: 1,248.96 2.70
  • Silver: 14.70 0.03
  • Euro: 1.135 0.001
  • USDX: 97.078 -0.022
  • Oil: 49.55 0.17

May 24: Gold and Silver Gain Roughly 1%

Chris Mullen
|
Thursday, May 24th

 

Close

Gain/Loss

Gold

$1304.40

+$10.80

Silver

$16.66

+$0.21

XAU

84.38 

+1.48%

HUI

 182.28

+1.33%

GDM

 629.88

+1.16%

JSE Gold

993.02

+20.37

USD

93.77

-0.19

Euro

117.23

+0.25

Yen

91.66

+0.68

Oil

$70.71

-$1.13

10-Year

2.972%

-0.021

T-Bond

142.875

+0.65625

Dow

24811.76 

-0.30%

Nasdaq

 7424.43

-0.02%

S&P

 2727.76

-0.20%

 

The Metals:

 

Gold gained $13 to $1306.60 by midmorning In New York before it drifted back lower at times, but it still ended with a gain of 0.83%. Silver rose to as high as $16.688 and ended with a gain of 1.28%.

 

Euro gold rose to about €1113, platinum gained $6 to $908, and copper climbed 3 cents to about $3.09.

 

Gold and silver equities rose over 1% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Existing-home sales tumble as supply crunch squeezes  MarketWatch

US March FHFA house price index 0.1% m/m vs 0.6% expected  forexlive

U.S. weekly jobless claims increase more than expected  Reuters

Trump urges a new 'structure' for U.S.-China trade deal  Reuters

 

Tomorrow brings Durable Goods Orders and Consumer Sentiment.

 

The Markets:

 

Oil fell nearly 2% on talk that OPEC may ease production cuts next month.

 

The U.S. dollar index dropped and treasuries rose while the Dow, Nasdaq, and S&P reversed morning losses and ended only slightly lower on geopolitical concerns after President Trump called off a planned summit meeting with leader Kim Jong Un of North Korea.

 

Among the big names making news in the market today were Deutsche Bank, Johnson & Johnson, GreenSky, Pfizer, and GE.

 

GATA Posts:

 

 

London Metal Exchange to launch yuan-denominated futures in sign of Chinese currency's growing cachet

U.S. launches criminal probe into bitcoin price manipulation

Maybe the laid-off South African miners can become investment bankers

The Marshall Islands replaces U.S. dollar with its own cryptocurrency

Part 2 of Bloomberg News excerpting of 'American Default'

 

The Statistics:

As of close of business: 5/23/2018

Gold Warehouse Stocks:

9,028,589.239

-

Silver Warehouse Stocks:

270,040,614.347

+1,058,932.73

 

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

852.041

27,393,963

US$35,736m

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$5,797m

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$6,407m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$469m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 290.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,984.34: No change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) Pre-Feasibility Study, Alamos Gold’s (AGI) drill results, and Hecla’s (HL) COO appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alamos

AGI +4.57% $5.49

2.  New Gold

NGD +4.39% $2.38

3.  Seabridge

SA +4.27% $11.00

 

LOSERS

1.  Tahoe

TAHO -4.72% $5.05

2.  Taseko

TGB -4.27% $1.12

3.  Sibanye

SBGL -2.96% $2.62

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

 

- Chris Mullen, Gold Seeker Report

 

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

© Gold Seeker 2018

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