• Gold: 1,463.77 -9.28
  • Silver: 17.08 -0.09
  • Euro: 1.106 -0.001
  • USDX: 97.998 0.127
  • Oil: 58.39 1.35

November 30: Gold and Silver Fall Almost 2% on the Week

Chris Mullen
|
Friday, November 30th
 

Close

Gain/Loss

On Week

Gold

$1713.20

-$12.40

-1.94%

Silver

$33.37

-$0.83

-1.97%

XAU

170.20

-0.96%

-2.37%

HUI

450.32

-0.94%

-2.74%

GDM

1310.27

-1.04%

-2.65%

JSE Gold

2374.56

+25.20

+2.23%

USD

80.13

-0.06

-0.10%

Euro

130.05

+0.27

+0.22%

Yen

121.31

-0.49

-0.10%

Oil

$88.91

+$0.84

+0.71%

10-Year

1.606%

+0.014

-5.08%

Bond

151.40625

+0.1875

+0.92%

Dow

13025.58

+0.03%

+0.12%

Nasdaq

3010.24

-0.06%

+1.46%

S&P

1416.18

+0.02%

+0.50%

 
 

The Metals:

 

Gold gained $6 to $1731.60 in Asia, but it then fell to as low as $1708.39 in New York and ended with a loss of 0.72%. Silver slumped to as low as $33.151 and ended with a loss of 2.43%.

 

Euro gold fell to about €1318, platinum lost $11 to $1595.50, and copper climbed 4 cents to about $3.62.

 

Gold and silver equities fell about 1% by late morning and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Personal Income

Oct

0.0%

0.2%

0.4%

Personal Spending

Oct

-0.2%

0.1%

0.8%

PCE Prices - Core

Oct

0.1%

0.2%

0.1%

Chicago PMI

Nov

50.4

50.7

49.9

 

Obama takes "fiscal cliff" on the road; Republicans stew Reuters

All of this week’s other economic reports:

 

Pending Home Sales - October

5.2% v. 0.3%

GDP - Q3

2.7% v. 2.0%

GDP Deflator - Q3

2.7% v. 2.8%

Initial Claims - 11/24

393K v. 416K

New Home Sales - October

368K v. 369K

FHFA Housing Price Index - September

0.2% v. 0.5%

Consumer Confidence - November

73.7 v. 73.1

Case-Shiller 20-city Index - September

3.0% v. 2.0%

Durable Orders - October

0.0% v. 9.2%

Durable Orders -ex Trans. - October

1.5% v. 1.7%

 

Next week’s economic highlights include Construction Spending and the ISM Index on Monday, ADP Employment, Productivity, Factory Orders, and ISM Services on Wednesday, Initial Jobless Claims on Thursday, and November’s jobs data, Michigan Sentiment, and Consumer Credit on Friday.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil rose and the U.S. dollar index fell as the euro rose after German lawmakers approved Greece’s latest bailout.

 

Treasuries found slight gains as the Dow, Nasdaq, and S&P traded mostly slightly lower on worries about the fiscal cliff.

 

Among the big names making news in the market Friday were St. Jude, Groupon, Teva, Facebook, and Microsoft.

 

GATA Posts:

 

 

Eric Sprott and David Baker: Gold may be the solution to the banking crisis

After a bashing, Bank of Japan weighs 'big bang' war on deflation

Peter Grandich: Space helmets on, Captain Video

Chris Waltzek: Gibson's gold law

Paul van Eeden says gold is (still) overvalued

Most Netherlands gold vaulted abroad 'because trading is easier'

 

The Statistics:

Activity from: 11/29/2012

Gold Warehouse Stocks:

11,390,401.627

+3,279.30

Silver Warehouse Stocks:

142,625,998.496

+1,241,527.27

 

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)

SPDR® Gold Shares

1347.018

43,307,991

US$74,681m

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

Gold Bullion Securities

141.68

4,555,212

US$7,832m

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

ETFS Physical Gold

159.55

5,129,836

US$8,365m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$616m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 214.78: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,780.44: -22.58 change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) redeemed debentures, Richmont’s (RIC) mine closure, and Gold Reserve’s (GRZ) shareholder update were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Eurasian

EMXX +1.46% $2.08

2. Banro

BAA +0.91% $3.32

3. Randgold

GOLD+0.72% $107.36

LOSERS

1. Richmont

RIC -25.13% $2.86

2. Nevsun

NSU -4.48% $4.05

3. Royal Gold

RGLD-3.85% $80.76

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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© Gold Seeker 2012

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