• Gold: 1,238.17 -0.12
  • Silver: 14.54 -0.04
  • Euro: 1.130 0.000
  • USDX: 97.443 0.321
  • Oil: 51.22 -1.76

December 6: Gold and Silver Hold Steady While Stocks Remain Volatile

Chris Mullen
|
Thursday, December 6th

 

Close

Gain/Loss

Gold

$1238.30

+$0.10

Silver

$14.48

-$0.04

XAU

66.35

+0.28%

HUI

150.05

+0.46%

GDM

547.61

+0.20%

JSE Gold

1201.22

+52.17

USD

96.74

-0.26

Euro

113.86

+0.46

Yen

88.79

+0.05

Oil

$51.49

-$1.40

10-Year

2.887%

-0.025

T-Bond

143.5625

-0.21875

Dow

24947.67

-0.32%

Nasdaq

7188.26

+0.42%

S&P

2695.95

-0.15%

 
http://www.goldseek.com/news/2018/2018-12-06_14-02-32.jpg

 

The Metals:

 

Gold chopped near unchanged in low volume trade yesterday before it fell back to $1234.90 in Asia today and then climbed up to a new session high of $1244.30 by midmorning in New York, but it then drifted back lower into the close and ended with a gain of just 0.01% from Tuesday’s close. Silver slipped to as low as $14.351 and ended with a loss of 0.28%.

 

Euro gold fell to about €1088, platinum lost $13 to $787, and copper remained at about $2.75.

 

Gold and silver equities rose nearly 2% in the first hour of trade before they chopped back to see losses by midafternoon, but they then bounced back higher into the close and ended with slight gains.

 

The Economy:

 

Fed may signal 'wait-and-see' approach after Dec. rate increase - WSJ  CNBC

Fed still likely to raise interest rates in December, economists say - even as stock market gyrates  MarketWatch

U.S. trade deficit hits 10-year high; private hiring slows  Reuters

ISM services index registers second-strongest reading in 13 years  MarketWatch

U.S. factory orders post largest drop in more than a year  Reuters

Jobless claims fall to 231,000 after Thanksgiving, but still near 5-month high  MarketWatch

U.S. productivity growth in 3rd quarter raised to 2.3% from 2.2%  MarketWatch

 

Tomorrow brings November’s jobs data, Wholesale inventories, and Consumer sentiment.

 

The Markets:

 

Oil dropped almost 3% after OPEC delayed announcing any kind of decision over possible output cuts.

 

The U.S. dollar index remained lower while treasuries erased notable gains as the Dow, Nasdaq, and S&P saw significant losses on increased trade tensions that raised global growth concerns for much of the day, but those losses were mostly erased after the WSJ reported that the fed may “signal a ‘wait-and-see’ approach after a probable hike to the central bank’s overnight rate at its meeting later this month.”

 

Among the big names making news in the market today were Deutsche Bank, Apple, Lyft, Wells Fargo, Huawei, and Sears.

 

GATA Posts:

 

 

With inflation, central banks guarantee rising gold price, von Greyerz tells 'Keiser Report'

Sudan becomes second leading gold producer in Africa on backs of artisanal miners

Brandon White: Arctic trails, winter gales, and gold's secret tales

Univision quotes Bullion Star's Manly on expropriation of Venezuelan gold

 

The Statistics:

As of close of business: 12/5/2018

Gold Warehouse Stocks:

8,181,288.840

+32,024.478

Silver Warehouse Stocks:

295,622,222.854

+600,125,995

 

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

758.214

24,377,329

US$30,278m

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$5,513m

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$6,093m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$444m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.17: +0.42 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,001.40: -4.16 change from yesterday’s data.

 

The Miners:

 

Pretivm’s (PVG) exploration and resource drilling update, Newmont’s (NEM) 2019 outlook, Comstock’s (LODE) permit extension, Sandstorm’s (SAND) increased credit facility, and Barrick’s (ABX) asset sales were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Agnico-Eagle

AEM +4.52% $38.35

2.  AngloGold

AU +3.33% $10.85

3.  Randgold

GOLD +1.95% $83.63

 

LOSERS

1.  DRDGOLD

DRD -5.66% $2.00

2.  Turquoise

TRQ -3.83% $1.76

3.  Freeport

FCX -3.04% $11.15

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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