• Gold: 1,244.44 -1.43
  • Silver: 14.75 0.01
  • Euro: 1.137 -0.000
  • USDX: 97.044 -0.355
  • Oil: 51.32 0.17

November 9: Gold and Silver Fall Almost 2% and 4% on the Week

Chris Mullen
|
Friday, November 9th

 

Close

Gain/Loss

On Week

Gold

$1209.90

-$14.00

-1.88%

Silver

$14.17

-$0.26

-3.93%

XAU

64.16

-1.88%

-4.51%

HUI

143.41

-1.61%

-4.04%

GDM

529.60

-1.47%

-3.05%

JSE Gold

1098.11

-23.50

-3.09%

USD

96.90

+0.22

+0.47%

Euro

113.39

-0.22

-0.49%

Yen

88.03

+0.06

-0.43%

Oil

$60.19

-$0.48

-4.67%

10-Year

3.190%

-0.050

-0.78%

Bond

137.875

+0.6875

+0.52%

Dow

25989.30

-0.77%

+2.84%

Nasdaq

7406.90

-1.65%

+0.68%

S&P

2781.01

-0.92%

+2.13%

 
http://www.goldseek.com/news/2018/2018-11-09_14-05-14.jpg

 

The Metals:

 

Gold dropped $16.90 to $1207.00 by midday in New York before it bounced back higher into the close, but it still ended with a loss of 1.14%. Silver slipped to as low as $14.108 and ended with a loss of 1.8%.

 

Euro gold fell to about €1067, platinum lost $13.50 to $854.50, and copper dropped 5 cents to about $2.68.

 

Gold and silver equities fell over 3% in the first hour of trade before they bounced back higher at times, but they still ended nearly 2% lower on the day.

 

The Economy:

 

U.S. wholesale inventories rise more in September than initially estimated  Reuters

Consumer sentiment above expectations in preliminary Nov. read  Bond Buyer

US producer price index rose 0.6% in Oct, vs 0.2% rise expected  CNBC

Fed officials point to vulnerabilities behind hot U.S. labor market  Reuters

 

The Markets:

 

Oil continued lower on oversupply concerns.

 

The U.S. dollar index rose as the euro fell on renewed doubts about a Brexit deal.

 

Treasuries found decent gains as the Dow, Nasdaq, and S&P dropped roughly 1% after weak data out of China raised worries about global economic growth.

 

Among the big names making news in the market Friday were Crocs, Dropbox, Potbelly, Yelp, Activision, and GE.

 

GATA Posts:

 

 

Deutsche, other bullion banks seeking insurance with physical gold, Maguire tells KWN

Big investors sue 16 banks in U.S. over currency market rigging

Bank of England stalls return of Venezuela's gold

 

The Statistics:

Activity from: 11/8/2018

Gold Warehouse Stocks:

8,020,366.429

-

Silver Warehouse Stocks:

293,756,844.221

-742,642.635

 

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$29,402m

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$5,370m

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$5,935m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.73: +0.21 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,131.15: -8.77 change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) third quarter results and director appointment, Seabridge Gold’s (SA) private placement, Gold Fields’ operating update, and Fortuna’s (FSM) third quarter results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Pretivm

PVG +3.57% $7.54

2.  Seabridge

SA +2.78% $12.57

3.  Silvercorp

SVM +1.83% $2.22

 

LOSERS

1.  Coeur

CDE -6.61% $4.66

2.  Sibanye

SBGL -5.93% $2.38

3.  Alamos

AGI -5.28% $3.59

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

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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