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Gold Seeker Closing Report: Gold and Silver Fall About 1% and 2%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 7 December 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1072.90

-$12.30

Silver

$14.28

-$0.27

XAU

47.30

-5.31%

HUI

115.45

-4.93%

GDM

392.65

-3.67%

JSE Gold

937.96

+32.83

USD

98.69

+0.34

Euro

108.40

-0.60

Yen

81.06

-0.17

Oil

$37.65

-$2.32

10-Year

2.225%

-0.050

T-Bond

156.53125

+1.34375

Dow

17730.51

-0.66%

Nasdaq

5101.81

-0.80%

S&P

2077.07

-0.70%

 
 

 

The Metals:

 

Gold held near unchanged in Asia, but it then drifted back lower in London and New York and ended with a loss of 1.13%.  Silver slipped to as low as $14.251 and ended with a loss of 1.86%.

 

Euro gold fell to about €989, platinum lost $29 to $849, and copper fell 4 cents to about $2.05.

 

Gold and silver equities fell about 5% by midafternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Oct

$16.0B

$18.6B

$28.5B

 

Tomorrow brings JOLTS - Job Openings data.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell nearly 6% “after OPEC effectively abandoned its longtime strategy of limiting output to control prices.”

 

The U.S. dollar index continued to rise on the outlook for an interest rate hike from the fed next week.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell nearly 1% on concerns about a weak oil market.

 

Among the big names making news in the market today were Chipotle, Airbus, Electrolux, Keurig, and Smith & Wesson.

 

GATA Posts:

 

 

Vanishing gold trade prompts Singapore to refine contract

China begins G-20 leadership with ideas to reduce dollar's role

Brutal cartels fight over Mexico's 'conflict-free' gold revenues

 

The Statistics:

As of close of business: 12/4/2015

Gold Warehouse Stocks:

6,448,759.134

+1,829.00

Silver Warehouse Stocks:

158,491,286.108

+576,080.869

 

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

638.797

20,537,960

US$22,093m

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$4,782m

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$5,284m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$385m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.42

945,738

US$1,017m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 157.07: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,000.01: +71.15 change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, McEwen’s (MUX) Feasibility Study, and Silvercorp’s (SVM.TO) exploration updates were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Richmont

RIC +0.32% $3.16

 

LOSERS

1.  Buenaventura

BVN -9.38% $4.54

2.  Yamana

AUY -9.28% $2.15

3.  Nevsun

NSU -8.93% $2.55

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

© Gold Seeker 2015

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.


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 -- Published: Monday, 7 December 2015 | E-Mail  | Print  | Source: GoldSeek.com

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