• Gold: 1,244.43 -1.44
  • Silver: 14.75 0.01
  • Euro: 1.137 -0.000
  • USDX: 97.044 -0.355
  • Oil: 51.32 0.17

November 12: Gold and Silver Fall with Stocks and Euro

Chris Mullen
|
Monday, November 12th

 

Close

Gain/Loss

Gold

$1201.50

-$8.40

Silver

$14.01

-$0.16

XAU

62.65

-2.36%

HUI

140.33

-2.15%

GDM

519.17

-2.03%

JSE Gold

1096.10

-2.01

USD

97.59

+0.69

Euro

112.21

-1.18

Yen

87.97

-0.06

Oil

$59.93

-$0.26

10-Year

3.184%

-0.006

T-Bond

138.53125

+0.625

Dow

25387.18

-2.32%

Nasdaq

7200.87

-2.78%

S&P

2726.22

-1.97%

 
http://www.goldseek.com/news/2018/2018-11-12_14-13-19.jpg

 

The Metals:

 

Gold fell $5.90 to $1204.00 in Asia before it rebounded in London, but it then fell to a new session low of $1200.70 in New York and ended with a loss of 0.69%. Silver slipped to as low as $14.005 and ended with a loss of 1.13%.

 

Euro gold rose above €1069, platinum lost $15.50 to $839, and copper dropped a penny to about $2.67.

 

Gold and silver equities fell roughly 2% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Tariffs aren't having that big an impact on companies, earnings calls show  CNBC

Election over, investors are back on inflation watch and feeling a little spooked  MarketWatch

 

Tomorrow brings fedspeak and the Federal budget.

 

The Markets:

 

Oil reversed early gains and ended slightly lower after President Trump urged OPEC to keep up production.

 

The U.S. dollar index rose as the euro fell on renewed concerns about Brexit and Italy’s budget.

 

The Dow, Nasdaq, and S&P fell roughly 2% on worries about Europe and weakness in tech.

 

Among the big names making news in the market today were Goldman Sachs, Athenahealth, Apple, General Electric, Alibaba, and SAP.

 

GATA Posts:

 

 

Gold confiscation is an urgent threat, Greyerz tells KWN

BMG's Brandon White: Confession by ex-Morgan trader vindicates GATA

 

The Statistics:

As of close of business: 11/9/2018

Gold Warehouse Stocks:

8,020,366.429

-

Silver Warehouse Stocks:

293,974,138.401

+217,294.18

 

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

755.232

24,281,476

US$29,259m

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$5,348m

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$5,911m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$431m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.73: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,131.15: No change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) site visit change and IAMGOLD’s (IAG) analyst tour were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Coeur

CDE -7.08% $4.33

2.  Gold Standard

GSV -6.94% $1.34

3.  Endeavour Silver

EXK -5.97% $1.89

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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