• Gold: 1,239.06 -3.88
  • Silver: 14.58 -0.19
  • Euro: 1.130 -0.006
  • USDX: 97.442 0.298
  • Oil: 51.22 -1.76

November 13: Gold and Silver Hold Steady While Oil Slumps 7%

Chris Mullen
|
Tuesday, November 13th

 

Close

Gain/Loss

Gold

$1201.70

+$0.20

Silver

$13.99

-$0.02

XAU

61.84

-1.30%

HUI

138.45

-1.34%

GDM

513.82

-1.10%

JSE Gold

1083.54

-12.56

USD

97.19

-0.40

Euro

112.89

+0.68

Yen

87.86

-0.11

Oil

$55.69

-$4.24

10-Year

3.140%

-0.044

T-Bond

138.625

+0.15625

Dow

25286.49

-0.40%

Nasdaq

7200.87

UNCH

S&P

2722.18

-0.15%

 
http://www.goldseek.com/news/2018/2018-11-13_14-42-59.jpg

 

The Metals:

 

Gold saw decent gains in Asia before it dropped back to $1196.40 in London, but it then chopped back higher in New York and ended with a gain of 0.02%. Silver slipped to as low as $13.956 and ended with a loss of 0.14%.

 

Euro gold fell to about €1065, platinum lost $3 to $836, and copper climbed a couple of cents to about $2.69.

 

Gold and silver equities fell over 2% in the first hour of trade before they bounced back to gains by midday, but they then drifted back lower into the close and ended over 1% lower.

 

The Economy:

 

U.S. government posts $100 billion deficit in October  Reuters

Small-business sentiment declines in October to four-month low, NFIB says  MarketWatch

Senators warn Trump that his criticism could undermine Fed, hurt economy  MarketWatch

What a serious budget deal could look like  MarketWatch

'Lame-duck' Congress returns, facing budget, Mueller, border wall issues  Reuters

 

Tomorrow brings CPI and fedspeak.

 

The Markets:

 

Oil fell over 7% on fears of weakening demand in the face of abundant supply.

 

The U.S. dollar index dropped as the euro rose on renewed optimism for a Brexit deal.

 

Treasuries edged higher as the Dow, Nasdaq, and S&P erased early gains and ended mostly lower on concerns about oil and China.

 

Among the big names making news in the market today were Hyundai, Johnson Controls, GE, Cronos, and Amazon.

 

GATA Posts:

 

 

French president says euro is not yet an alternative to U.S. dollar

GoldCore seeks to capitalize on Brexit with Dublin gold vault

Mining shares have never been cheaper relative to metal, GATA chairman says

Long-deposed monarchs' money is still good

Banque de France wants Paris to compete with London for gold trade

 

The Statistics:

As of close of business: 11/12/2018

Gold Warehouse Stocks:

8,023,872.749

+3,506.32

Silver Warehouse Stocks:

292,771,417.987

-1,202,773.844

 

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

761.999

24,499,018

US$29,436m

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$5,345m

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$5,907m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$431m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.767 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.48: -1.25 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,091.71: -39.44 change from yesterday’s data.

 

The Miners:

 

IAMGOLD’s (IAG) work stoppage, MAG Silver’s (MAG) third quarter results, and Silver Bear’s (SBR.TO) new CEO were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Turquoise

TRQ +3.43% $1.81

2.  DRDGOLD

DRD +0.93% $2.18

3.  Freeport

FCX +0.81% $11.25

 

LOSERS

1.  Americas Silver

USAS-13.48%$1.54

2.  Golden Star

GSS -10.49% $2.56

3.  McEwen

MUX -5.56% $1.70

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

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map