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Gold Seeker Closing Report: Gold and Silver Fall Almost 1% and 2%
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 29 November 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1285.10

-$8.00

Silver

$16.56

-$0.29

XAU

79.65

-1.84%

HUI

185.86

-1.84%

GDM

626.65

-1.74%

JSE Gold

1446.01

-1.79

USD

93.24

-0.01

Euro

118.55

+0.10

Yen

89.46

-0.34

Oil

$57.30

-$0.69

10-Year

2.385%

+0.057

T-Bond

153.28125

-1.00

Dow

23940.68

+0.44%

Nasdaq

6824.39

-1.27%

S&P

2626.07

-0.04%

 
http://www.goldseek.com/news/2017/2017-11-29_14-02-40.jpg

 

The Metals:

 

Gold gained $3.50 to $1296.60 in Asia before it slid back to $1282.10 in early afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.62%. Silver slipped to as low as $16.517 and ended with a loss of 1.72%.

 

Euro gold fell to about €1084, platinum lost $8 to $937, and copper dropped 3 cents to about $3.04.

 

Gold and silver equities fell almost 2% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Fed Says Price Pressures Rising With Economic Growth Steady  Bloomberg

Pending-home sales pop in October, snapping three-month losing streak  MarketWatch

U.S. Third-Quarter Growth Revised Up to 3.3%, Three-Year High  Bloomberg

Yellen Says U.S. Expansion Widening, Downplays Financial Risks  Bloomberg

 

Tomorrow brings Initial Jobless Claims, Personal Income and Outlays, and Chicago PMI.

 

The Markets:

 

Oil fell another 1% on uncertainty about the conclusion of OPEC’s meeting tomorrow.

 

The U.S. dollar index held near unchanged as the pound jumped on Brexit progress.

 

Treasuries fell on Yellen’s optimistic remarks about economic growth.

 

The Dow saw decent gains while the Nasdaq and S&P followed tech shares lower.

 

Among the big names making news in the market today were SodaStream, Uber, Tiffany, RBC, Chipotle, and Snapchat.

 

GATA Posts:

 

 

McEwen Mining CEO admits gold market rigging but just shrugs at it

Harvey Organ: Doesn't Comex have gold for delivery anymore?

Goldman, Sumitomo, ANZ, and two Chinese banks said bidding for ScotiaMocatta

 

The Statistics:

As of close of business: 11/28/2017

Gold Warehouse Stocks:

8,914,844.991

-

Silver Warehouse Stocks:

234,825,027.709

+1,139,569.33

 

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

839.548

26,992,301

US$34,643m

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$5,709m

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$6,309m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$461m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.658 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.06: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,863.86: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  McEwen

MUX +1.01% $2.01

2.  Great Panther

GPL +0.86% $1.17

3.  Paramount

PZG +0.76% $1.33

 

LOSERS

1.  Avino

ASM -4.58% $1.25

2.  Alio Gold

ALO -3.95% $2.92

3.  Randgold

GOLD-3.78% $93.39

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 2017

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: Wednesday, 29 November 2017 | E-Mail  | Print  | Source: GoldSeek.com

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