• Gold: 1,258.37 2.57
  • Silver: 16.12 0.08
  • Euro: 1.179 0.004
  • USDX: 93.714 -0.218
  • Oil: 57.59 0.33

December 1: Gold Dips and Silver Slips on the Week

Chris Mullen
|
Friday, December 1st

 

Close

Gain/Loss

On Week

Gold

$1280.70

+$6.00

-0.56%

Silver

$16.45

+$0.02

-3.41%

XAU

79.66

+0.30%

-1.79%

HUI

185.85

+0.29%

-1.24%

GDM

624.01

+0.17%

-1.89%

JSE Gold

1434.09

-19.13

-1.81%

USD

92.91

-0.11

+0.16%

Euro

118.90

-0.16

-0.32%

Yen

89.25

+0.34

-0.51%

Oil

$58.36

+$0.96

-0.78%

10-Year

2.363%

-0.059

+0.90%

Bond

154.3125

+1.46875

+0.02%

Dow

24231.59

-0.17%

+2.86%

Nasdaq

6847.59

-0.38%

-0.60%

S&P

2642.22

-0.20%

+1.53%

 
http://www.goldseek.com/news/2017/2017-12-01_14-03-17.jpg

 

The Metals:

 

Gold saw slight gains in Asia and London before it drifted back to $1271.80 in midmorning New York trade and then shot up to $1289.00 at about 11:30AM EST, but it then fell back off into the close and ended with a gain of just 0.47%. Silver jumped between $16.244 and $16.547 and ended with a gain of 0.12%.

 

Euro gold rose to about €1077, platinum remained at $938, and copper climbed 3 cents to about $3.07.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

The Economy:

 

Senate Republicans pin down votes to pass tax bill: McConnell  Reuters

U.S. construction spending rises at fastest clip in five months  Reuters

U.S. Manufacturing Expands at Healthy Pace on Production Surge  Bloomberg

 

Next week’s economic highlights include Factory Orders on Monday, International Trade and ISM Non-Manufacturing on Tuesday, ADP Employment and Productivity on Wednesday, Initial Jobless Claims and Consumer Credit on Thursday, and November’s jobs data, Consumer Sentiment, and Wholesale Trade on Friday.

 

The Markets:

 

Oil rose almost 2% “after OPEC and other major producers agreed to continue reining in output until the end of 2018 to try to reduce the global oil glut and boost prices.”

 

The U.S. dollar index fell and treasuries rose as the Dow, Nasdaq, and S&P dropped on political turmoil and disappointment that the senate had not yet voted on the tax bill.

 

Former Trump adviser Flynn pleads guilty to lying to FBI  Reuters

 

Among the big names making news in the market Friday were Macy’s, RBS, Ford, Fiat Chrysler, and Bitcoin.

 

GATA Posts:

 

 

Sector is demoralized and monetary metals are bargains, GATA chairman says

 

The Statistics:

Activity from: 11/30/2017

Gold Warehouse Stocks:

8,913,360.693

-1,484.298

Silver Warehouse Stocks:

237,081,928.203

+1,176,042.551

 

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® Gold Shares

839.548

26,992,301

US$34,417m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,709m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,313m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$459m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.36: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,904.95: +41.09 change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) investment in Reunion Gold Corporation, McEwen’s (MUX) exploration program, Banro’s (BAA) exercised right to defer payment, and Bear Creek’s (BCM.V) arbitration award were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Taseko

TGB +3.85% $2.16

2.  Alexco

AXO +3.76% $1.38

3.  Northern Dynasty

NAK +3.55% $2.04

 

LOSERS

1.  Alio Gold

ALO -3.69% $2.87

2.  DRDGOLD

DRD -2.67% $3.28

3.  McEwen

MUX -2.49% $1.96

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2017

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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