• Gold: 1,261.03 5.23
  • Silver: 16.12 0.08
  • Euro: 1.178 0.003
  • USDX: 93.705 -0.227
  • Oil: 57.23 -0.03

December 7: Gold and Silver Fall Again But Miners Hold

Chris Mullen
|
Thursday, December 7th

 

Close

Gain/Loss

Gold

$1247.80

-$16.80

Silver

$15.73

-$0.25

XAU

76.46

+0.05%

HUI

176.44

-0.04%

GDM

600.00

-0.16%

JSE Gold

1278.46

+10.76

USD

93.77

+0.20

Euro

117.75

-0.20

Yen

88.49

-0.71

Oil

$56.69

+$0.73

10-Year

2.358%

+0.029

T-Bond

154.40625

-0.75

Dow

24211.48

+0.29%

Nasdaq

6812.84

+0.54%

S&P

2636.98

+0.29%

 
http://www.goldseek.com/news/2017/2017-12-07_14-02-38.jpg

 

The Metals:

 

Gold fell throughout most of world trade and ended near its late session low of $1244.00 with a loss of 1.33%. Silver slipped to as low as $15.64 and with a loss of 1.56%.

 

Euro gold fell to about €1060, platinum lost $8 to $892, and copper remained at about $2.95.

 

Gold and silver equities fell over 1% at the open before they quickly rebounded to find slight gains for the rest of the morning and then drifted back lower in midafternoon trade, but they then edged back higher in the last half hour and ended near unchanged on the day.

 

The Economy:

 

Fed's Evans floats idea of waiting until next summer to raise interest rates  MarketWatch

Jobless Claims at Five-Week Low Show Resilient U.S. Job Market  Bloomberg

Gross warns Fed should be 'more cautious' amid investor bond binge  Reuters

Consumer credit accelerated in October by largest amount in 11 months  MarketWatch

 

Tomorrow brings November’s jobs data, Consumer Sentiment, and Wholesale Trade.

 

The Markets:

 

Oil gained over 1% on concerns about a threatened strike in Nigeria.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P found decent gains on prospects for tax overhaul.

 

Among the big names making news in the market today were Sage Therapeutics, Bitcoin, Alibaba, Ford, Sears, Johnson Controls, GE, and Dollar General.

 

GATA Posts:

 

 

Wall Street banks push back on launch of bitcoin futures

Bill Murphy: Rocketing bitcoin highlights gold and silver suppression

Traders on billion-dollar crypto exchange say they can't withdraw money

Russian finance ministry suggests outlawing crypto mining

Bitcoin mining service NiceHash says hackers emptied its wallet

 

The Statistics:

As of close of business: 12/6/2017

Gold Warehouse Stocks:

8,906,586.808

-

Silver Warehouse Stocks:

240,315,812.445

+612,315.625

 

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

845.468

27,182,657

US$34,112m

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$5,566m

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$6,153m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$447m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,006.40: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Eldorado

EGO +3.57% $1.16

2.  Freeport

FCX +3.41% $14.84

3.  Turquoise

TRQ +2.39% $3.00

 

LOSERS

1.  Americas Silver

USAS -4.13% $3.43

2.  Fortuna

FSM -3.46% $4.19

3.  Avino

ASM -3.35% $1.15

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

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2017

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