Gold Seeker Closing Report: Gold and Silver Erase Overnight Gains and Close Mixed
| Close | Gain/Loss |
Gold | $1226.30 | -$0.10 |
Silver | $14.56 | +$0.04 |
XAU | 65.59 | -1.09% |
HUI | 145.87 | -1.33% |
GDM | 538.78 | -0.48% |
JSE Gold | 1113.84 | -23.48 |
USD | 96.12 | -0.16 |
Euro | 114.42 | +0.26 |
Yen | 88.27 | +0.04 |
Oil | $61.67 | -$0.54 |
10-Year | 3.222% | +0.003 |
T-Bond | 137.25 | -0.1875 |
Dow | 26180.30 | +2.13% |
Nasdaq | 7570.75 | +2.64% |
S&P | 2813.89 | +2.12% |
The Metals:
Gold gained $9.50 to $1235.90 in London, but it then dropped back to as low as $1225.40 in New York and ended with a loss of 0.01%. Silver rose to as high as $14.718 before it also fell back off, but it still ended with a gain of 0.28%.
Euro gold fell to about EUR1072, platinum gained $6.50 to $873, and copper climbed a penny to about $2.74.
Gold and silver equities waffled near unchanged and ended roughly 1% lower.
Housing sentiment tumbles to lowest in a year, as more say now is not a good time to buy CNBC
Fed likely on steady course even as U.S. political landscape shifts Reuters
Mortgage applications drop to 4-year low as interest rates hit 8-year high CNBC
Democrats win House as Republicans keep control of Senate MarketWatch
Tomorrow brings Weekly jobless claims and a FOMC announcement.
The Markets:
Oil fell almost 1% after the Energy Information Administration reported that crude inventories rose 5.8 million barrels, gasoline inventories rose 1.9 million barrels, and distillates fell 3.5 million barrels.
The U.S. dollar index fell on doubts that a split congress will support more tax cuts and stimulus.
Treasuries traded mixed ahead of tomorrow's fed announcement.
The Dow, Nasdaq, and S&P rose over 2% on thoughts that tighter regulations will be tough to push through a divided congress.
Among the big names making news in the market today were Michael Kors, Etsy, Wells Fargo, Citibank, Zillow, HSBC, and GNC.
GATA Posts:
Ex-Morgan trader pleads guilty to rigging monetary metals, implicates supervisors at bank
Energy cost of 'mining' bitcoin is more than twice that of gold
The Statistics:
As of close of business: 11/6/2018
Gold Warehouse Stocks: | 8,020,366.429 | - |
Silver Warehouse Stocks: | 291,458,667.034 | +1,045,645.247 |
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(R) Gold Shares | 756.703 | 24,328,771 | US$29,911m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,450m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,023m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$440m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 0.589 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.52: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,139.92: No change from yesterday's data.
Northern Dynasty's (NAK) changing political landscape in Alaska and First Majestic's (AG) third quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG +2.91% $1.06 |
2. B2Gold | BTG +2.71% $2.65 |
3. Buenaventura | BVN +2.25% $14.06 |
LOSERS
1. IAMGOLD | IAG -8.26% $3.33 |
2. Pretivm | PVG -7.29% $7.25 |
3. Pan American | PAAS-7.03% $14.01 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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