May 26: Gold and Silver Gain Almost 1% and 3% on the Week

Chris Mullen
|
Friday, May 26th

Please Note: US markets are closed on Monday in observance of Memorial Day.

 

Close

Gain/Loss

On Week

Gold

$1267.00

+$10.90

+0.96%

Silver

$17.32

+$0.16

+2.85%

XAU

84.65

+0.69%

-0.60%

HUI

194.72

+0.45%

-1.21%

GDM

635.96

+0.67%

-0.29%

JSE Gold

1387.39

+9.40

-4.65%

USD

97.46

+0.26

+0.35%

Euro

111.71

-0.39

-0.30%

Yen

89.86

+0.42

-0.04%

Oil

$49.80

+$0.90

-1.05%

10-Year

2.250%

-0.004

+0.76%

Bond

154.03125

+0.1875

UNCH

Dow

21080.28

-0.01%

+1.32%

Nasdaq

6210.19

+0.08%

+2.08%

S&P

2415.82

+0.03%

+1.43%

 
http://goldseek.com/news/2017/5-26-2017%202-02-09%20PM.jpg

The Metals:

 

Gold climbed higher throughout most of world trade and ended near its late session high of $1269.50 with a gain of 0.87%. Silver rose to as high as $17.379 and ended with a gain of 0.93%.

 

Euro gold rose to about €1034, platinum gained $11 to $957, and copper fell a few cents to about $2.57.

 

Gold and silver equities rose roughly 1% at the open and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Durable Goods Orders

Apr

-0.7%

-1.0%

2.3%

Durable Goods -ex trans.

Apr

-0.4%

0.4%

0.8%

GDP

Q1

1.2%

0.8%

0.7%

Consumer Sentiment

May

97.1

97.6

97.7

 

All of this week’s other economic reports:

 

International Trade in Goods - April

-$67.6B v. -$65.1B

Initial Claims - 5/20

234K v. 233K

Existing Home Sales - April

5.57M v. 5.70M

FHFA Housing Price Index - March

0.6% v. 0.8%

New Home Sales - April

569K v. 642K

 

The Markets:

 

 

Oil rose almost 2% on thoughts that yesterday’s nearly 5% drop was an overreaction.

 

The U.S. dollar index saw modest gains as the Pound fell “after a poll showed a narrowing lead for the ruling Conservatives before elections next month.”

 

Treasuries edged higher as the Dow, Nasdaq, and S&P held near unchanged on mixed economic data.

 

Among the big names making news in the market Friday were FrontFour, Fidelity, and UPS.

 

GATA Posts:

 

 

NYU professor interviewed about detecting gold and silver market manipulation

Ronan Manly: Update on Shanghai Gold Exchange withdrawals and premiums

Sentiment in monetary metals has never been worse, GATA chairman says

Jim Rickards: The golden conspiracy buys time for China to hedge its dollar surplus

 

The Statistics:

Activity from: 5/25/2017

Gold Warehouse Stocks:

8,811,289.032

-

Silver Warehouse Stocks:

200,987,574.341

-793,738.17

 

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

847.452

27,246,434

US$34,458m

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$5,628m

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$6,216m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$455m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

34.33

1,103,760

US$1,383m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 202.82: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,634.99: No change from yesterday’s data.

 

The Miners:

 

Acacia Mining’s (ACA.L) audit in Tanzania, Seabridge Gold’s (SA) claims transfer, First Majestic’s (AG) AGM results, and Silvercorp’s (SVM) dividend were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Silvercorp

SVM +6.94% $3.08

2. Northern Dynasty

NAK +4.22% $1.73

3. Gold Standard

GSV +3.73% $1.67

LOSERS

1. Alio Gold

ALO -4.94% $4.62

2. Eldorado

EGO -2.33% $3.35

3. Richmont

RIC -2.08% $7.05

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

- Chris Mullen, Gold Seeker Report

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

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

© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.