• 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

November 26: Gold and Silver Hold Steady While Stocks Bounce Back

Chris Mullen
|
Monday, November 26th

 

Close

Gain/Loss

Gold

$1222.50

-$0.30

Silver

$14.25

+$0.01

XAU

64.73

-0.83%

HUI

146.62

-0.81%

GDM

536.53

-0.64%

JSE Gold

1127.24

-13.59

USD

97.05

+0.14

Euro

113.34

+0.05

Yen

88.76

UNCH

Oil

$51.63

+$1.21

10-Year

3.067%

+0.028

T-Bond

139.8125

-0.1875

Dow

24640.24

+1.46%

Nasdaq

7081.85

+2.06%

S&P

2673.45

+1.55%

 
http://www.goldseek.com/news/2018/2018-11-26_14-05-19.jpg

 

The Metals:

 

Gold gained $5.20 to $1228.00 in Asia before it chopped back lower in London and New York, but it ended with a loss of just 0.02%. Silver climbed up to $14.435 before it fell back to as low as $14.226 by early afternoon in New York, but it then bounced back higher into the close and ended with a gain of 0.07%.

 

Euro gold rose above €1078, platinum remained at $842, and copper dipped to $2.76.

 

Gold and silver equities rose nearly 2% in the first twenty minutes of trade, but they then drifted back lower for most of the rest of the day and ended almost 1% lower.

 

The Economy:

 

Here's what Fed officials are saying about the interest-rate outlook  MarketWatch

Cyber Monday set to be biggest U.S. online shopping day in history  MarketWatch

WTO's quarterly indicator suggests trade growth slowing further in fourth quarter  Reuters

Here's what the climate change report says would happen to the economy if temperatures keep get hotter  MarketWatch

 

Tomorrow brings Case-Shiller house prices and Consumer confidence.

 

The Markets:

 

Oil rose over 2% on growing expectations for production cuts.

 

The U.S. dollar index erased early losses and ended higher as the euro fell “after European Central Bank President Mario Draghi acknowledged slowing growth in the region.”

 

Treasuries fell as the Dow, Nasdaq, and S&P rose over 1% on hopes for strong holiday shopping sales.

 

Among the big names making news in the market today were Campbell Soup, Tesla, and GM.

 

GATA Posts:

 

 

Ohio will accept bitcoin for tax payments

Are these north Wales hills sitting on a gold mine?

Gold price hits record high in Pakistan as inflation looms

GATA chairman discusses confession by ex-JPM trader

Citigroup, JPMorgan to pay $182.5 million to settle rate-rigging lawsuit

Support GATA by subscribing to The Calandra Report

 

The Statistics:

As of close of business: 11/23/2018

Gold Warehouse Stocks:

8,015,760.647

-

Silver Warehouse Stocks:

292,437,036.501

-627,041.826

 

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

762.920

24,528,630

US$30,000m

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$5,430m

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$6,001m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Note: Change in Total Tonnes from Wednesday’s data: SPDR added 2.059 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.48: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,109.24: No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) work with IBM for a new AI Technology Solution, Newmont’s (NEM) commercial production declaration in Ghana, Seabridge Gold’s (SA) closed private placement, and Eldorado’s (EGO) updated Mineral Reserves and Resources were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +2.97% $11.09

2.  Turquoise

TRQ +2.15% $1.90

3.  Goldcorp

GG +1.49% $9.56

 

LOSERS

1.  Americas Silver

USAS -8.55% $1.39

2.  DRDGOLD

DRD -6.67% $2.10

3.  Golden Star

GSS -6.23% $2.56

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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