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"Stocks in the Spotlight"

- Futures -
October -- 13 -- 2017 UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)
December 2017
($US per Troy Oz.)
Week Ending
10/13/2017

Closing price
$1,305.80
+26.90
on the week

Gold

SILVER (CMX)
December 2017
(per 100 Troy Oz.)
Week Ending
10/13/2017

Closing price
$1,744.00
+59.00
on the week

Silver futures

PLATINUM (NYM)
January 2018
($US per Troy Oz.)
Week Ending
10/13/2017

Closing price
$948.80
+30.50
on the week

Old Yeller closed at $1,305.80, up $26.90 on the week and up $23.30 for October. Silver gained $0.59 on the week, closing at 17.44, with resistance at $20.

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,
up $27.50 for August,
off -$14.00 for September.

The metals are strong mostly due to a possible war with North Korea. Gold closed higher for 3 weeks and off 4 weeks 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 over the $1300 level after falling under it for 2 weeks 2 after staying over 4 weeks after staying under it 40 weeks, and over the $1200 level for week 35 after staying under it for 1 week.

CURRENCY

British Pound (In US Dollars) Week Ending 10/13/2017 Closing price $1.32863 +0.02198 on the week (0.7527 pounds for the dollar) -0.01266
Euro (In US Dollars) Week Ending 10/13/2017 Closing price $1.1821 +0.008916 on the week (0.8460) euro for the dollar) -0.006429
Japanese Yen (In US Dollars) Week Ending 10/13/2017 Closing price $0.008942 +0.000063 on the week (111.83) yen for the dollar) -0.7853

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 near support at .0089 leaving the next support at .0084. The euro has remained over the dollar for 738 straight weeks.

It seems the dollar is mostly caught in a trading range mostly 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 after the damage from hurricane Harvey and Irma settles.

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 will anyway probably in December)

OIL - LIGHT CRUDE

LIGHT CRUDE (NYM)
November - 2017
($US per bbl.)
Week Ending
10/13/2017

Closing price
$51.38
+2.13

Future oil prices

Friday's close (November's futures) is $ 51.38 up $2.13 a barrel, versus the week before at $49.25. 89 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 over the $50 level after staying under it for 1 week after staying over it for 2 weeks. Recent news tells us there appears to be much oil available. There are too many oil-producing countries that need the money and I'm betting 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. although, we could see a disruption in oil supplies due to hurricane Harvey and hurricane Irma, but hopefully this problem can be repaired before too long.

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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