• 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 27: Gold and Silver Fall Nearly 1%

Chris Mullen
|
Tuesday, November 27th

 

Close

Gain/Loss

Gold

$1215.00

-$7.50

Silver

$14.14

-$0.11

XAU

63.55

-1.82%

HUI

143.71

-1.99%

GDM

526.50

-1.91%

JSE Gold

1105.78

-21.46

USD

97.36

+0.31

Euro

112.95

-0.39

Yen

88.02

-0.12

Oil

$51.56

-$0.07

10-Year

3.053%

-0.014

T-Bond

139.90625

+0.125

Dow

24748.73

+0.44%

Nasdaq

7082.70

+0.01%

S&P

2682.20

+0.33%

 
http://www.goldseek.com/news/2018/2018-11-27_14-01-21.jpg

 

The Metals:

 

Gold edged up to $1225.20 by a little after 8AM EST before it fell back to $1212.00 in early afternoon New York trade and then bounced back higher, but it still ended with a loss of 0.61%. Silver chopped between $14.305 and $14.098 and ended with a loss of 0.77%.

 

Euro gold fell to about €1076, platinum lost $13 to $829, and copper dropped 5 cents to about $2.71.

 

Gold and silver equities fell almost 3% by midday before they rallied back higher into the close, but they still ended almost 2% lower on the day.

 

The Economy:

 

Record-breaking Black Friday sets up fourth-quarter success after rough week for retail  MarketWatch

Consumer confidence hits 135.7 in November, vs. estimate of 135.9  CNBC

House price growth slows to nearly two-year low as Case-Shiller makes the slowdown official  MarketWatch

Fed's Bullard: 'cracks' in growth may shape Fed 2019 debate  Reuters

 

Tomorrow brings GDP, New home sales, and a speech from Jerome Powell.

 

The Markets:

 

Oil ended slightly lower in mixed trade on concerns about global economic growth.

 

The U.S. dollar index rose while the euro and pound fell “as doubts grew about whether British Prime Minister Theresa May can get a Brexit agreement through a divided parliament.”

 

Treasuries remained firm on trade uncertainty that sent the Dow, Nasdaq, and S&P lower for most of the morning, but stocks turned mixed in afternoon trade and managed to close higher after it was reported that the US and China are talking ahead of the upcoming G20 summit.

 

Among the big names making news in the market today were GM, Facebook and United Tech.

 

GATA Posts:

 

 

Grant Williams: Gold standard is needed to restore financial ecology

J.P. Koning: Why the U.S. Mint once issued gold discs to Saudi Arabia

Hugo Salinas Price: A message for Trump

JPMorgan ignored Butler's complaints but can't ignore Justice Department's

 

The Statistics:

As of close of business: 11/26/2018

Gold Warehouse Stocks:

8,015,563.387

-197.26

Silver Warehouse Stocks:

292,988,920.041

+551,883.54

 

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$29,899m

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$5,389m

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$5,955m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$435m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.177 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:

 

WINNERS

1.  Golden Star

GSS +1.95% $2.61

2.  Freeport

FCX +1.35% $11.24

3.  Silvercorp

SVM +0.67% $1.88

 

LOSERS

1.  Gold Standard

GSV -6.67% $1.12

2.  Turquoise

TRQ -5.26% $1.80

3.  DRDGOLD

DRD -3.81% $2.02

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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