• Gold: 1,293.87 0.20
  • Silver: 17.28 0.01
  • Euro: 1.178 -0.001
  • USDX: 93.662 0.049
  • Oil: 56.81 1.33

November 3: Gold Ends Barely Lower on the Week

Chris Mullen
|
Friday, November 3rd

 

 

Close

Gain/Loss

On Week

Gold

$1270.10

-$6.10

-0.24%

Silver

$16.84

-$0.28

UNCH

XAU

80.72

-0.71%

-1.04%

HUI

186.03

-0.70%

-0.55%

GDM

623.54

-0.47%

-0.19%

JSE Gold

1386.46

-10.97

+1.02%

USD

94.94

+0.25

+0.06%

Euro

116.13

-0.47

+0.11%

Yen

87.68

-0.02

-0.36%

Oil

$55.64

+$1.10

+3.23%

10-Year

2.332%

-0.015

-3.60%

Bond

153.90625

+0.4375

+1.69%

Dow

23539.19

+0.10%

+0.45%

Nasdaq

6764.44

+0.74%

+0.94%

S&P

2587.84

+0.31%

+0.26%

 
http://www.goldseek.com/news/2017/2017-11-03_14-06-11.jpg

 

The Metals:

 

Gold gained $3.50 to $1279.70 just after 8:30AM EST before it fell back to $1265.70 in late morning New York trade and then edged back higher into the close, but it still ended with a loss of 0.48%. Silver slipped to as low as $16.785 and ended with a loss of 1.64%.

 

Euro gold remained at about €1094, platinum lost $3 to $918, and copper fell a couple of cents to about $3.11.

 

Gold and silver equities fell roughly 1.5% by late morning, but they then bounced back higher in afternoon trade and ended only modestly lower on the day.

 

The Economy:

 

A Record Number of Americans Left Jobs for Labor-Force Sidelines in October  Bloomberg

Growth in U.S. Service Industries Is Strongest Since 2005  Bloomberg
U.S. factory orders rise, core capital goods orders revised higher  Reuters

U.S. Trade Deficit Widens as Import Gain Barely Exceeds Exports  Bloomberg

U.S. Adds 261,000 Jobs as Hurricane Effect Reverses; Pay Stalls  Bloomberg

U.S. job growth accelerates, jobless rate falls to 4.1 percent  Reuters

U.S. adds 261,000 jobs in October in hurricane-inflated gain  MarketWatch

 

Next week’s economic highlights include Consumer Credit on Tuesday, Initial Jobless Claims and Wholesale Trade on Thursday, and Consumer Sentiment and the Treasury Budget on Friday.

 

The Markets:

 

Oil rose another 2% on continued optimism for more supply cuts.

 

The U.S. dollar index jumped between notable gains and losses and treasuries ultimately rose on mixed economic data that sent the Dow, Nasdaq, and S&P to new highs.

 

Among the big names making news in the market Friday were Airbus, Alibaba, and Apple.

 

GATA Posts:

 

 

Hong Kong gold trade linked to Shenzhen; Dubai, Singapore, Myanmar next?

Site chosen for Texas bullion depository

Bitcoin may be biggest challenge yet to gold and silver

Iran asks Putin to eliminate use of dollar to isolate U.S.

Big bitcoin exchange just added 100,000 users in a day

 

The Statistics:

Activity from: 11/02/2017

Gold Warehouse Stocks:

8,707,177.723

+9,066.30

Silver Warehouse Stocks:

227,145,799.892

+352,681.445

 

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

846.042

27,201,101

US$34,456m

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$5,630m

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$6,225m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$456m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.545 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 234.29: -0.05 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.58: -4.27 change from yesterday’s data.

 

The Miners:

 

Buenaventura’s (BVN) work stoppage and Alexco’s (AXU) third quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Paramount

PZG +2.48% $1.24

2.  Turquoise

TRQ +2.30% $3.12

3.  Nevsun

NSU +1.70% $2.39

 

LOSERS

1.  First Majestic

AG -6.65% $6.46

2.  Endeavour Silver

EXK -5.05% $2.07

3.  Gold Standard

GSV -4.14% $1.275

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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