• 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 7: Gold and Silver Fall Back A Bit

Chris Mullen
|
Tuesday, November 7th

 

Close

Gain/Loss

Gold

$1276.40

-$4.60

Silver

$16.96

-$0.28

XAU

81.87

-0.50%

HUI

188.48

-0.09%

GDM

632.34

-0.27%

JSE Gold

1438.96

+21.17

USD

94.90

+0.16

Euro

115.91

-0.20

Yen

87.79

-0.13

Oil

$57.20

-$0.15

10-Year

2.309%

-0.008

T-Bond

154.50

+0.28125

Dow

23557.23

+0.04%

Nasdaq

6767.78

-0.27%

S&P

2590.64

-0.02%

 
http://www.goldseek.com/news/2017/2017-11-07_14-02-58.jpg

 

The Metals:

 

Gold edged down to $1275.30 at about 4AM EST before it bounced back to $1280.10 in midmorning New York trade and then dropped to a new session low of $1272.30 by late morning, but it then chopped back higher into the close and ended with a loss of just 0.36%. Silver slipped to $16.987 before it rallied back to $17.183, but it then fell to $16.925 in early afternoon trade and ended with a loss of 1.65%.

 

Euro gold fell to about €1101, platinum lost $12.50 to $920.50, and copper fell 7 cents to about $3.09.

 

Gold and silver equities traded mostly slightly lower and ended with modest losses.

 

The Economy:

 

U.S. job openings stay close to record high  MarketWatch

U.S. department stores tap brakes on stocking for holiday season  Reuters

House tax panel chair says expects vote on plan next week  Reuters

Saudi Crackdown Widens as More Bank Accounts Said Frozen  Bloomberg

 

Tomorrow brings MBA Mortgage Applications.

 

The Markets:

 

Oil held near unchanged ahead of tomorrow’s supply data as traders also keep an eye on future developments in Saudi Arabia.

 

The U.S. dollar index rose as the euro fell on central bank policy outlooks.

 

Treasuries edged higher as the Dow, Nasdaq, and S&P dropped from new record highs hit in the first hour of trade and ended mostly lower on geopolitical and tax uncertainty.

 

Among the big names making news in the market today were Teva, Toyota, Apple, Deutsche Bank, and ADP.

 

GATA Posts:

 

 

'Buy bitcoin' overtakes 'buy gold' as online search phrase

 

The Statistics:

As of close of business: 11/6/2017

Gold Warehouse Stocks:

8,684,503.505

-29,312.128

Silver Warehouse Stocks:

230,368,877.872

+385,362.83

 

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

845.455

27,182,212

US$34,671m

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$5,658m

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$6,252m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$458m

Note: Change in Total Tonnes from yesterday’s data: SPD subtracted 0.292 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 235.19: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.58: No change from yesterday’s data.

 

The Miners:

 

New Gold’s (NGD) director resignation, Northern Dynasty’s (NAK) new Executive Vice President of External Affairs, Centerrra Gold’s (CG.TO) acquisition of AuRico Metals (AMI.TO), and Hecla’s (HL) third quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Gold Standard

GSV +16.92% $1.52

2.  Great Panther

GPL +4.31% $1.21

3.  Kinross

KGC +2.75% $4.11

 

LOSERS

1.  Tahoe

TAHO -7.87% $4.45

2.  Harmony

HMY -4.35% $1.76

3.  Eldorado

EGO -3.17% $1.22

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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