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"Stocks in the Spotlight"

- Futures -
June -- 23 -- 2017 UPDATED WEEKLY

PRECIOUS METALS

GOLD (CMX)
August 2017
($US per Troy Oz.)
Week Ending
6/23/2017

Closing price
$1,257.80
+2.60
on the week

Gold

SILVER (CMX)
July 2017
(per 100 Troy Oz.)
Week Ending
6/23/2017

Closing price
$1,667.00
-1.00
on the week

Silver futures

PLATINUM (NYM)
July 2017
($US per Troy Oz.)
Week Ending
6/23/2017

Closing price
$929.80
+99.90
on the week

Old Yeller closed at $1,257.80, up $2.60 on the week and off -$8.90 for June. Silver lost $.01 on the week, closing at 16.67, 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.

The metals are weaker mostly due to a stronger dollar dollar and falling oil prices. Gold closed lower for 2 weeks but man needs a slight increases past week. I do not believe there is much higher ground ahead. The metals have had trouble moving higher and this week's near flat teaches us little. 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 32 weeks after staying over it for 1 week, and back over the $1200 level for week 20 after staying under it for 1 week.

CURRENCY

British Pound (In US Dollars) Week Ending 6/23/2017 Closing price $1.27106 -0.00684 on the week (0.7867 pounds for the dollar) +0.00421
Euro (In US Dollars) Week Ending 6/23/2017 Closing price $1.1192 +0.000394 on the week (0.8935 euro for the dollar) -0.000314
Japanese Yen (In US Dollars) Week Ending 6/23/2017 Closing price $0.008986 -0.00004 on the week (111.29) yen for the dollar) +0.50

The dollar closed mixed against the currencies mostly due to lower oil prices. 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 724 straight weeks.

It seems the dollar is higher mostly because of the possibilities the Feds could increase interest rates again in September. 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
6/23/2017

Closing price
$43.17
-2.51

Future oil prices

Friday's close (August's futures) is $43.17, (off -$2.51) a barrel, versus the week before at $45.68. 74 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 $50 level for week 5 after staying under it for 1 weeks. Recent news tells us that there appears to be many barrels of 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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