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"Stocks in the Spotlight"

- Futures -
August -- 11 -- 2017 UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)
December 2017
($US per Troy Oz.)
Week Ending
8/11/2017

Closing price
$1,296.90
+32.60
on the week

Gold

SILVER (CMX)
September 2017
(per 100 Troy Oz.)
Week Ending
8/11/2017

Closing price
$1,710.00
+86.00
on the week

Silver futures

PLATINUM (NYM)
October 2017
($US per Troy Oz.)
Week Ending
8/11/2017

Closing price
$989.40
+21.80
on the week

Old Yeller closed at $1,296.90, up $32.60 on the week and up $27.90 for August. Silver gained $.86 on the week, closing at 17.10, with support at $16.

Closing monthly gold prices this year.

up $39.00 for January,
up $67.00 for February,
off -$10.60 for March,
up $22.10 for April,
off -$2.80 for May,
off -$33.40 for June,
up $27.60 for July.

The metals are strong mostly due to a possible war with North Korea. Gold closed higher for 3 weeks, off 1 week and up again this past week. I do not believe there is much higher ground ahead. Silver has been the strongest performer so far. If wanting into the metals waiting a bit longer might be the better bet.

The total gain/loss for the entire year:

2011 was $145.40 (10.02%),
2012 at $1655.90, up $89.10 (5.69%);
2013, at $1202.30, off -$453.60 (-27.30%);
2014, at $1184.10, off -$18.20 (-1.51%);
2015, at $1060.50, off -$123.60 (-9.50%) and
2016, at $1152.00, up +$91.50 (+7.94%).

Gold closed back under the $1300 level for 38 weeks after staying over it for 1 week, and back over the $1200 level for week 26 after staying under it for 1 week.

CURRENCY

British Pound (In US Dollars) Week Ending 8/11/2017 Closing price $1.30096 -0.00278 on the week (0.7687 pounds for the dollar) +0.00164
Euro (In US Dollars) Week Ending 8/11/2017 Closing price $1.1823 +0.005029 on the week (0.8458 euro for the dollar) -0.003613
Japanese Yen (In US Dollars) Week Ending 8/11/2017 Closing price $0.009162 +0.000127 on the week (119.46) yen for the dollar) -1.5396

The dollar closed lower against the currencies mostly due to the threat of another possible increase in rates along with a possibility of going to war with North Korea. The yen had been outperforming the rest, but currently testing support at .0089 leaves the next support at .0085. The euro has remained over the dollar for 731 straight weeks.

It seems the dollar is mostly caught in a trading range leaning mostly toward higher ground because of the growing Pres. Trump economy. I expect the dollar to remain strong for much longer and I would expect oil and metals to work lower over the next few weeks.

The Feds have a major problem with the extreme high debt in the USA making it impossible to increase interest rates as the United States is already having trouble paying its bills. (They did it anyway)

OIL - LIGHT CRUDE

LIGHT CRUDE (NYM)
July - 2017
($US per bbl.)
Week Ending
8/11/2017

Closing price
$48.82
-0.70

Future oil prices

Friday's close (August's futures) is $ 48.8 off (-0.70) a barrel, versus the week before at $49.52. 81 weeks ago. 1.15.16 was the first time under $30 since 10.31.03 when it closed off -1.19 at $29.11. The record "weekly" closing high is $145.08 a barrel on 7/11/08.

Oil prices closed back under the $50 level for week 12 after staying over it for 1 week. Recent news tells us that there appears to be much oil available. There are too many oil-producing countries that need the money and I'm betting that the recent decision to extend production cuts by OPEC won't last.

The bigger question would be if we have seen the bottom yet and my best guess would be no. It would seem that OPEC is losing its power regulating the price of a barrel of oil, as the United States becomes the number one producer.

Currently due to the confusion in oil-producing countries it is impossible to solve the near-term direction. I just don't believe that the higher prices are going to hold too long because there is more oil out there than we can use.

Oil prices effect the entire world because, in one way or another, we all use oil

Crude Oil prices were at a low of $11.26 a barrel in February of 1999.

I'm J.R. Budke and this is my opinion!

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J.R. Budke has been a stock broker since 1981, an options principle since 1982 and a branch office manager since 1987. He is currently inactive as a stockbroker as of 12/31/99. J.R. has been writing the articles and opinions for the Stocks in the Spotlight, in conjunction with the editor B.G. Santos, since 1990. The stories and stocks found on this site, or any "Stocks in the spotlight" written material, are the opinions of J.R. Budke unless other wise stated and are opinions only and are not to be construed as advice. You should not purchase any stocks solely on the opinions found on the "Stocks in the Spotlight's" web site or in any of it's written material. You should also be aware that options are not for everybody and carry a high degree of risk. You should always consult with your broker or investment advisor before purchasing any stock.

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