• Gold: 1,244.45 -1.42
  • Silver: 14.75 0.01
  • Euro: 1.137 -0.000
  • USDX: 97.044 -0.355
  • Oil: 51.32 0.17

December 3: Gold and Silver Rise Roughly 1%

Chris Mullen
|
Monday, December 3rd

 

Close

Gain/Loss

Gold

$1230.80

+$9.10

Silver

$14.37

+$0.20

XAU

65.84

+2.14%

HUI

148.35

+2.29%

GDM

540.63

+1.67%

JSE Gold

1104.90

+6.09

USD

97.01

-0.18

Euro

133.48

+0.28

Yen

88.07

-0.14

Oil

$52.95

+$2.02

10-Year

2.984%

-0.018

T-Bond

141.3125

+0.15625

Dow

25826.43

+1.13%

Nasdaq

7441.51

+1.51%

S&P

2790.37

+1.09%

 
http://www.goldseek.com/news/2018/2018-12-03_14-01-32.jpg

 

The Metals:

 

Gold gained $13.10 to $1234.80 by late morning in New York before it drifted back lower into the close, but it still ended with a gain of 0.74%. Silver rose to as high as $14.555 and ended with a gain of 1.41%.

 

Euro gold climbed above €1084, platinum gained $8 to $804, and copper remained at about $2.78.

 

Gold and silver equities jumped over 2% higher at the open before they fell back towards unchanged by midday, but they then rallied back higher in afternoon trade and ended near their highs of the session.

 

The Economy:

 

Trump-Xi meeting raises odds for trade deal between U.S. and China, Kudlow says  MarketWatch

Construction spending dips as public works edge out home building  MarketWatch

American manufacturers say orders surge despite tariffs, key shortages, ISM finds  MarketWatch

U.S. November car sales surprise on upside  Reuters

Congress heads to stopgap bill to avert government shutdown  Reuters

Fed's Clarida: Current framework serving the Fed well  Reuters

Fed's Quarles says interest rates will end up 'in range' of neutral  MarketWatch

 

Tomorrow brings more fedspeak. US Markets and government offices will close for the funeral of former President George H.W. Bush on Wednesday.

 

The Markets:

 

Oil climbed 4% and the U.S. dollar index fell while treasuries rose along with the Dow, Nasdaq, and S&P after the US and China agreed to launch negotiations to reduce trade tensions.

 

Among the big names making news in the market today were Hasbro, Cronos, Tencent, and Qualcomm.

 

GATA Posts:

 

 

Fifth devaluation spurs Pakistan to mull new currency management

Russia nudges Indian policymakers to move away from the dollar

Lots of talk about gold but only a hint about manipulation

Bloomberg rationalizes government's commandeering the financial markets

Bullion Star's gold market charts for November look bullish

Venezuelan opposition leaders urge Bank of England not to give gold to Maduro

New York Sun: 'A much bigger problem than China'

 

The Statistics:

As of close of business: 11/30/2018

Gold Warehouse Stocks:

8,020,709.144

-600.628

Silver Warehouse Stocks:

295,014,630.987

-153,130.28

 

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

761.743

24,490,803

US$30,120m

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$5,480m

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$6,057m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$442m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.75: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,005.56: -37.96 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend and Gold Resource’s (GORO) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Turquoise

TRQ +5.00% $1.89

2.  IAMGOLD

IAG +4.59% $3.19

3.  Kinross

KGC +4.43% $2.83

 

LOSERS

1.  EMX Royalty

EMX -2.51% $1.16

2.  DRDGOLD

DRD -0.99% $2.00

3.  Pretivm

PVG -0.14% $7.10

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

 

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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