• Gold: 1,220.84 -5.55
  • Silver: 14.54 -0.09
  • Euro: 1.147 -0.004
  • USDX: 95.993 0.28
  • Oil: 69.23 -0.4

May 14: Gold and Silver Fall as Dollar Reverses Higher

Chris Mullen
|
Monday, May 14th

 

Close

Gain/Loss

Gold

$1313.50

-$5.40

Silver

$16.52

-$0.15

XAU

83.47

-0.47%

HUI

181.93

-0.17%

GDM

636.96

-0.46%

JSE Gold

1066.44

-1.86

USD

92.62

+0.08

Euro

119.38

-0.06

Yen

91.28

-0.19

Oil

$70.96

+$0.26

10-Year

2.993%

+0.023

T-Bond

142.75

-0.375

Dow

24899.41

+0.27%

Nasdaq

7411.32

+0.11%

S&P

2730.13

+0.09%

 
http://www.goldseek.com/news/2018/2018-05-14_14-01-06.jpg

 

The Metals:

 

Gold gained $3.40 to $1322.30 in Asia before it chopped back to $1318.10 in early New York trade and then bounced back higher at times, but it then fell back off again into the close and ended with a loss of 0.41%. Silver slipped to as low as $16.499 and ended with a loss of 0.9%.

 

Euro gold fell to about €1100, platinum lost $13 to $908, and copper dropped 3 cents to about $3.08.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Fed Finds Success at Home Spreads Pain Abroad as Markets Tighten  Bloomberg

Fed's Mester reiterates support for gradual U.S. rate increases  Reuters

NAFTA math may not add up to more U.S. auto jobs  Reuters

 

Tomorrow brings Empire State Manufacturing, Business Inventories, and the Housing Market Index.

 

The Markets:

 

Oil edged higher on concerns about escalating tensions in the Middle East

 

The U.S. dollar index reversed early losses and ended slightly higher ahead of this week’s economic data and trade talks.

 

Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on hopes for progress in talks between the US and China, among others.

 

Among the big names making news in the market today were Deutsche Bank, HSBC, Tesla, and Symantec.

 

GATA Posts:

 

 

New struggle for Petropavlovsk could restore former executives

U.S. retreat from trade deals poses new threat to the dollar

 

The Statistics:

As of close of business: 5/11/2018

Gold Warehouse Stocks:

9,049,522.743

-

Silver Warehouse Stocks:

268,521,123.273

-15,010.58

 

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

857.641

27,574,024

US$36,388m

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$5,859m

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$6,475m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$472m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.306 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 292.34: +1.94 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,966.77: -87.86 change from yesterday’s data.

 

The Miners:

 

DRC’s mining code, Barrick’s (ABX) natural gas conversion, and Endeavour Silver’s (EXK) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +6.40% $3.16

2.  Paramount

PZG +4.86% $1.51

3.  Silvercorp

SVM +1.43% $2.84

 

LOSERS

1.  Alexco

AXU -4.73% $1.41

2.  Gold Standard

GSV -4.29% $1.56

3.  McEwen

MUX -4.02% $2.15

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

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