• Gold: 1,255.13 -0.67
  • Silver: 15.97 -0.07
  • Euro: 1.175 -0.001
  • USDX: 93.932 0.443
  • Oil: 57.26 0.11

November 8: Gold and Silver Gain With Stocks

Chris Mullen
|
Wednesday, November 8th

 

Close

Gain/Loss

Gold

$1280.90

+$4.50

Silver

$17.01

+$0.05

XAU

82.41

+0.66%

HUI

189.73

+0.66%

GDM

635.64

+0.55%

JSE Gold

1451.88

+12.92

USD

94.85

-0.05

Euro

115.99

+0.08

Yen

87.88

+0.09

Oil

$56.81

-$0.39

10-Year

2.332%

+0.023

T-Bond

154.28125

-0.40625

Dow

23563.36

+0.03%

Nasdaq

6789.12

+0.32%

S&P

2594.38

+0.14%

 
http://www.goldseek.com/news/2017/2017-11-08_14-02-12.jpg

 

The Metals:

 

Gold gained $10.70 to $1287.10 in late morning New York trade before it edged back lower into the close, but it still ended with a gain of 0.35%. Silver rose to as high as $17.242 and ended with a gain of 0.29%.

 

Euro gold rose above €1104, platinum gained $8.50 to $929, and copper climbed a penny to about $3.10.

 

Gold and silver equities saw over 1% gains throughout the morning before they drifted back lower in afternoon trade, but they still ended modestly higher on the day.

 

The Economy:

 

U.S. mortgage activity flat as loan rates fall: MBA  Reuters

Why Trump's Currency Punching Bag Isn't an Easy Target Anymore  Bloomberg

Do tax cuts and deficits really matter to the bond market?  MarketWatch

China's Xi fetes Trump on first day of Beijing trip  Reuters

 

Tomorrow brings Initial Jobless Claims and Wholesale Trade.

 

The Markets:

 

Oil remained slightly lower after the Energy Information Administration reported that crude inventories rose 2.2 million barrels, gasoline inventories fell 3.3 million barrels, and distillates fell 3.4 million barrels.

 

The U.S. dollar index, treasuries, and the Dow, Nasdaq, and S&P all held near unchanged on uncertainty about the Republican tax bill.

 

Among the big names making news in the market today were Postmates, Time Warner and AT&T, MGM Resorts, Uber, ConocoPhillips, Snap, LendingClub, Disney, and Teva.

 

GATA Posts:

 

 

Ethical behavior gives public confidence in Fed, Yellen says

CPM Group's Jeffrey Christian joins Monetary Metals' Board of Advisers

Gold has outperformed S&P 500 since 2001, Sprott analyst says

 

The Statistics:

As of close of business: 11/7/2017

Gold Warehouse Stocks:

8,771,477.727

+86,974.222

Silver Warehouse Stocks:

229,765,873.210

-603,004.662

 

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

844.273

27,144,224

US$34,850m

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$5,713m

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$6,315m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$460m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.182 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 235.19: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.21: -29.37 change from yesterday’s data.

 

The Miners:

 

Seabridge Gold’s (SA) drill results, Richmont’s (RIC) third quarter results, and McEwen’s (MUX) permit were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Northern Dynasty

NAK +8.46% $2.18

2.  IAMGOLD

IAG +6.96% $6.15

3.  First Majestic

AG +3.83% $7.04

 

LOSERS

1.  Gold Standard

GSV -3.29% $1.47

2.  Gold Resource

GORO-2.31% $3.81

3.  Gold Fields

GFI -2.00% $3.93

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2017

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