• Gold: 1,224.43 2.14
  • Silver: 14.43 0.11
  • Euro: 1.140 0.003
  • USDX: 96.715 -0.121
  • Oil: 54.34 0.97

November 6: Gold and Silver Continue Lower

Chris Mullen
|
Tuesday, November 6th

 

Close

Gain/Loss

Gold

$1226.40

-$4.10

Silver

$14.52

-$0.12

XAU

66.31

-1.24%

HUI

147.83

-1.33%

GDM

541.35

-0.52%

JSE Gold

1137.32

-24.70

USD

96.28

-0.06

Euro

114.16

+0.05

Yen

88.23

-0.18

Oil

$62.21

-$0.89

10-Year

3.219%

+0.018

T-Bond

137.28125

-0.28125

Dow

25635.01

+0.68%

Nasdaq

7375.96

+0.64%

S&P

2755.45

+0.63%

 
http://www.goldseek.com/news/2018/2018-11-06_14-05-32.jpg

 

The Metals:

 

Gold gained $5.40 to $1235.90 in London before it fell to as low as $1223.60 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.33%. Silver slipped to as low as $14.486 and ended with a loss of 0.82%.

 

Euro gold fell to about €1074, platinum gained $6 to $866.50, and copper dropped 3 cents to about $2.73.

 

Gold and silver equities fell roughly 1% by midday and remained near that level for the rest of trade.

 

The Economy:

 

Pessimism is its highest since 2016 and it could lead to a bounce  CNBC

It's not the economy, stupid: Midterm election voters want next Congress to check President Trump  MarketWatch

Job openings slip to 7 million in September, still near record high  CNBC

 

Tomorrow brings election results and consumer credit.

 

The Markets:

 

Oil fell over 1% after it became clearer that waivers the US has granted to eight jurisdictions will allow them to continue to import oil from Iran.

 

The U.S. dollar index traded mostly slightly lower along with treasuries while the Dow, Nasdaq, and S&P climbed higher in thin trade ahead of results of today’s elections.

 

Among the big names making news in the market today were Motel 6, BlackRock, Disney, Verizon, Bloom Energy, and GE.

 

GATA Posts:

 

 

Bill Murphy: GATA's past and the future of gold and silver

 

The Statistics:

As of close of business: 11/5/2018

Gold Warehouse Stocks:

8,020,366.429

+6,430.00

Silver Warehouse Stocks:

290,413,021.787

-492,359.901

 

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

757.292

24,347,689

US$29,975m

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$5,444m

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$6,022m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.765 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,139.92: -40.90 change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) right to acquire a 100% interest in 44 mining claims, Randgold’s (GOLD) third quarter results, IAMGOLD’s (IAG) filed technical report, Franco-Nevada’s (FNV) third quarter results, IMPACT’s (IPT.V) financing, Golden Minerals’ (AUMN) third quarter results, and Hecla’s (HL) drilling were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Franco-Nevada

FNV +1.66% $65.51

2.  Gold Standard

GSV +1.40% $1.45

3.  B2Gold

BTG +1.18% $2.58

 

LOSERS

1.  Sibanye

SBGL -6.30% $2.53

2.  AngloGold

AU -5.27% $9.88

3.  Coeur

CDE -4.96% $4.98

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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