"Stocks in the Spotlight"

- Futures -
October -- 11 -- 2019 UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)
December 2019
($US per Troy Oz.)
Week Ending
10/11/2019

Closing price
$1,493.50
-16.30
on the week

Gold

SILVER (CMX)
December 2019
(per 100 Troy Oz.)
Week Ending
10/11/2019

Closing price
$1,757.00
-1.00
on the week

Silver futures

PLATINUM (NYM)
October 2019
($US per Troy Oz.)
Week Ending
10/11/2019

Closing price
$901.50
+16.20
on the week

Old Yeller closed at $1,493.50, off -$13.34 on the week and off -$9.50 for October. Silver came in off -$0.01 on the week, closing at 17.57, with resistance at $20 and support at $14.

Closing monthly gold prices.

2017

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,
off -$7.90 for October,
up $12.70 for November,
up $17.80 for December.

2018

up $43.60 for January,
off -$18.20 for February,
off -$3.20 for March,
off -$3.20 for April,
off -$23.50 for May,
off -$46.40 for June,
off -32.00 for July,
off -15.30 for August,
off -10.79 for September,
up +39.20 for October,
off -$12.00 for November,
up $55.60 for December.

2019

up $38.60 for January,
up $28.20 for February,
off -$39.90 for March,
off -$19.75 for April,
up $21.40 for May,
up $102.30 for June,
up $6.00 for July,
up $110.70 for August,
off -$26.20 for September.

The metals were mixed on the week due to concern about the troubles with Iran, plus the trade deal with China. We watched the metals take off over the last 27 weeks with gold moving from approximately $1295 (4.05.19) to over $1515, a gain of over $220 before backing off a bit. Silver closed over the $15 support level for 17 weeks but up $319 (4.05.19) over the same period as gold. Platinum seems to be the most volatile if you're looking for bigger moves over the short term it might want to look here. If wanting into the metals waiting for a decent pullback might be the better bet.

The total gain/loss for the entire year:

2011 at $1568.80,up $147.40 (10.37%),
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%)
2017, at $1305.10, up +$153.10 (+13.28%)
2018, at $1283.40, off -$21,70 (-0.16%).

Gold closed back over the $1500 mark for week 4 after trading under for 1 week after staying over it for 5 weeks, and over the $1300 level for week 17 after staying under it for 11 weeks, and over the $1200 level for week 142 after staying under it for 1 week.

CURRENCY

British Pound
(In US Dollars)
Week Ending
10/11/2019
Closing price
1.2649

0.03149
on the week
(0.7906) pounds for the dollar)
-0.02019

The euro vs the dollar

Euro
(In US Dollars)
Week Ending
10/11/2019
Closing price
1.10364

0.005792
on the week
(0.9061) euro for the dollar)
-0.004781

The euro vs the dollar

Japanese Yen
(In US Dollars)
Week Ending
10/11/2019
Closing price
0.009225

-0.000129
on the week
(108.40) yen for the dollar)
+1.495

The yen vs the dollar

The dollar was mixed against the currencies due to the possibility of some kind of trade with China, trouble with Iran and worry over the tariffs. The yen is currently over resistance at .0090 leaving the next support at .0090 and next resistance at.0095 The euro has remained over the dollar for 839 straight weeks.

It seems the dollar is mostly caught in a trading range because of the growing Pres. Trump economy. I expect the dollar to remain mixed for a bit longer but increase due to the improving economy and I would expect oil and metals to work lower.

The Feds recently decided on a one quarter percentage point decrease interest rates, when the markets wanted a larger cut. A best guess is the next meeting will see another quarter point discount.

OIL - LIGHT CRUDE

LIGHT CRUDE (NYM)
November - 2019
($US per bbl.)
Week Ending
10/11/2019

Closing price
$54.91
off -$3.09

Future oil prices

Friday's close (November's futures) is $54.91, up +$1.97 a barrel, versus the week before at $52.94. 182 weeks ago, 1.15.16, was the first time under $30 since 10.31.03 when it closed at $29.11. The record "weekly" closing high is $145.08 a barrel on 7/11/08.

Oil prices closed back under the $60 level for week 13 after staying over it for 1 week after staying under it for 7 weeks and over the $50 level for week 36 after staying under it for 3 weeks. There is resistance at $60 per barrel with support at $45. Recent news tells us there appears to be much oil available. I'm betting the price per barrel will have trouble getting over the $60 level.

Currently due to the confusion in oil-producing countries it is impossible to solve the near-term direction. I do believe that lower prices are on the way before too long.

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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