• Gold: 1,254.67 -1.13
  • Silver: 16.04 -0.00
  • Euro: 1.176 0.000
  • USDX: 93.932 0.443
  • Oil: 57.4 0.14

November 16: Gold Holds Near Unchanged While Stocks Gain on Tax Vote

Chris Mullen
|
Thursday, November 16th

 

Close

Gain/Loss

Gold

$1278.50

-$0.10

Silver

$17.08

+$0.10

XAU

79.84

-0.25%

HUI

185.80

-0.05%

GDM

627.55

+0.05%

JSE Gold

1419.50

-21.39

USD

93.92

+0.12

Euro

117.68

-0.24

Yen

88.56

-0.22

Oil

$55.14

-$0.19

10-Year

2.369%

+0.040

T-Bond

153.21875

-0.78125

Dow

23458.36

+0.80%

Nasdaq

6793.29

+1.30%

S&P

2585.64

+0.82%

 
http://www.goldseek.com/news/2017/2017-11-16_14-07-51.jpg

 

The Metals:

 

Gold gained $3 to $1281.60 in midmorning New York trade before it chopped back lower into the close, but it ended with a loss of just 0.01%. Silver rose to as high as $17.122 and ended with a gain of 0.59%.

 

Euro gold rose to about €1086, platinum remained at $930, and copper stayed at about $3.05.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

House of Representatives approves tax package, shifts fight to Senate  Reuters

Home-builder confidence climbs to 8-month high in November, NAHB says  MarketWatch

Industrial production surges in October, tops forecast  MarketWatch

Philly Fed Index Drops More Than Expected In November  Nasdaq

U.S. jobless claims unexpectedly rise; import prices up modestly  Reuters

 

Tomorrow brings Housing Starts.

 

The Markets:

 

Oil edged lower on uncertainty about OPEC’s future actions.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P gained roughly 1% after the “U.S. House of Representatives approved a broad package of tax cuts affecting businesses, individuals and families.”

 

Among the big names making news in the market today were Siemens, TransferWise, Cisco, Wal-Mart, Viacom, and Emerson.

 

GATA Posts:

 

 

Saudi regime expropriates detainees for their freedom

Twice burned -- how Mt. Gox's bitcoin customers could lose again

Bank said to be informing against co-conspirators in Treasury bond rigging

 

The Statistics:

As of close of business: 11/15/2017

Gold Warehouse Stocks:

8,732,195.729

+65,730.371

Silver Warehouse Stocks:

231,665,541.419

+19,251.54

 

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

843.387

27,115,733

US$34,702m

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$5,685m

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$6,281m

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: 237.30: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.21: No change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) progress update, IAMGOLD’s (IAG) drill results, and Royal Gold’s (RGLD) dividend increase were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Eldorado

EGO +4.35% $1.20

2.  Gold Resource

GORO +4.05% $3.85

3.  DRDGOLD

DRD +3.98% $3.66

 

LOSERS

1.  Seabridge

SA -6.67% $11.20

2.  NovaGold

NG -3.51% $3.85

3.  Kinross

KGC -2.28% $4.28

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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