Gold Seeker Closing Report: Gold and Silver Hold Steady While Oil Slumps 7%
| Close | Gain/Loss |
Gold | $1201.70 | +$0.20 |
Silver | $13.99 | -$0.02 |
XAU | 61.84 | -1.30% |
HUI | 138.45 | -1.34% |
GDM | 513.82 | -1.10% |
JSE Gold | 1083.54 | -12.56 |
USD | 97.19 | -0.40 |
Euro | 112.89 | +0.68 |
Yen | 87.86 | -0.11 |
Oil | $55.69 | -$4.24 |
10-Year | 3.140% | -0.044 |
T-Bond | 138.625 | +0.15625 |
Dow | 25286.49 | -0.40% |
Nasdaq | 7200.87 | UNCH |
S&P | 2722.18 | -0.15% |
The Metals:
Gold saw decent gains in Asia before it dropped back to $1196.40 in London, but it then chopped back higher in New York and ended with a gain of 0.02%. Silver slipped to as low as $13.956 and ended with a loss of 0.14%.
Euro gold fell to about EUR1065, platinum lost $3 to $836, and copper climbed a couple of cents to about $2.69.
Gold and silver equities fell over 2% in the first hour of trade before they bounced back to gains by midday, but they then drifted back lower into the close and ended over 1% lower.
U.S. government posts $100 billion deficit in October Reuters
Small-business sentiment declines in October to four-month low, NFIB says MarketWatch
Senators warn Trump that his criticism could undermine Fed, hurt economy MarketWatch
What a serious budget deal could look like MarketWatch
'Lame-duck' Congress returns, facing budget, Mueller, border wall issues Reuters
Tomorrow brings CPI and fedspeak.
The Markets:
Oil fell over 7% on fears of weakening demand in the face of abundant supply.
The U.S. dollar index dropped as the euro rose on renewed optimism for a Brexit deal.
Treasuries edged higher as the Dow, Nasdaq, and S&P erased early gains and ended mostly lower on concerns about oil and China.
Among the big names making news in the market today were Hyundai, Johnson Controls, GE, Cronos, and Amazon.
GATA Posts:
French president says euro is not yet an alternative to U.S. dollar
GoldCore seeks to capitalize on Brexit with Dublin gold vault
Mining shares have never been cheaper relative to metal, GATA chairman says
Long-deposed monarchs' money is still good
Banque de France wants Paris to compete with London for gold trade
The Statistics:
As of close of business: 11/12/2018
Gold Warehouse Stocks: | 8,023,872.749 | +3,506.32 |
Silver Warehouse Stocks: | 292,771,417.987 | -1,202,773.844 |
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 | 761.999 | 24,499,018 | US$29,436m |
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$5,345m |
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$5,907m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$431m |
Note: Change in Total Tonnes from yesterday's data: SPDR added 6.767 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.48: -1.25 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,091.71: -39.44 change from yesterday's data.
IAMGOLD's (IAG) work stoppage, MAG Silver's (MAG) third quarter results, and Silver Bear's (SBR.TO) new CEO were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Turquoise | TRQ +3.43% $1.81 |
2. DRDGOLD | DRD +0.93% $2.18 |
3. Freeport | FCX +0.81% $11.25 |
LOSERS
1. Americas Silver | USAS-13.48%$1.54 |
2. Golden Star | GSS -10.49% $2.56 |
3. McEwen | MUX -5.56% $1.70 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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