• Gold: 1,261.22 5.42
  • Silver: 16.12 0.08
  • Euro: 1.178 0.003
  • USDX: 93.695 -0.237
  • Oil: 57.24 -0.02

November 28: Gold Dips and Silver Slips

Chris Mullen
|
Tuesday, November 28th

 

Close

Gain/Loss

Gold

$1293.10

-$0.70

Silver

$16.85

-$0.20

XAU

81.14

-0.41%

HUI

189.34

-0.52%

GDM

637.73

-0.43%

JSE Gold

1447.80

+6.30

USD

93.25

+0.34

Euro

118.45

-0.56

Yen

89.80

-0.30

Oil

$57.66

-$0.45

10-Year

2.328%

-0.004

T-Bond

154.25

-0.09375

Dow

23836.71

+1.09%

Nasdaq

6912.36

+0.49%

S&P

2627.04

+0.98%

 
http://www.goldseek.com/news/2017/2017-11-28_14-02-21.jpg

 

The Metals:

 

Gold gained $2.70 to $1296.50 in London before it dropped back to $1290.90 in midmorning New York trade and then jumped back to $1297.30 in late morning action, but it then drifted back lower into the close and ended with a loss of 0.05%. Silver slipped to as low as $16.786 and ended with a loss of 1.17%.

 

Euro gold rose above €1092, platinum lost $1 to $945, and copper dropped 6 cents to about $3.07.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

 

The Economy:

 

Fed nominee Powell, once hawkish, now champions Yellen's focus on jobs  Reuters

Consumer confidence hits new 17-year high  CNBC

Home Prices in 20 U.S. Cities Rise by Most Since Mid-2014  Bloomberg

U.S. trade deficit soars in October to cast early shadow on fourth quarter GDP  MarketWatch

 

Tomorrow brings GDP, Pending Home Sales, and the fed’s Beige Book.

 

The Markets:

 

Oil fell almost 1% more on uncertainty about OPEC.

 

The U.S. dollar index rose and treasuries dropped as the Dow, Nasdaq, and S&P climbed higher on better than expected economic data, steady testimony from Fed nominee Powell, and progress for tax reform.

 

Among the big names making news in the market today were Scotiabank, WeWork and Meetup, CME Group, SoftBank and Uber, Teva, Buffalo Wild Wings, and Rockwell Automation.

 

GATA Posts:

 

 

Russia, China see gold as escape from dollar hegemony, CPM Group's Christian says

Bloomberg helpfully explains how to short bitcoin

Central bankers fear cryptos could cost them control of the world

Bitcoin could devour the whole financial world, RT's Max Keiser suspects

GoldMoney expands into China in venture with Zhaojin Mining subsidiary

 

The Statistics:

As of close of business: 11/27/2017

Gold Warehouse Stocks:

8,914,844.991

+38,446.996

Silver Warehouse Stocks:

233,685,458.379

+599,629.40

 

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

842.206

27,077,754

US$34,970m

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$5,737m

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$6,360m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$464m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.181 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.06: +1.19 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,863.86: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Avino

ASM +1.55% $1.31

2.  McEwen

MUX +1.53% $1.99

3.  Americas Silver

USAS +1.11% $3.63

 

LOSERS

1.  Alio Gold

ALO -3.18% $3.04

2.  Tahoe Resources

TAHO -2.65% $4.40

3.  New Gold

NGD -2.52% $3.10

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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