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Gold Seeker Closing Report: Gold and Silver Edge Lower As Dollar Gains
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 6 December 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1264.60

-$2.20

Silver

$15.98

-$0.14

XAU

76.42

-1.41%

HUI

176.51

-1.81%

GDM

600.75

-1.46%

JSE Gold

1267.70

-54.77

USD

93.57

+0.25

Euro

117.95

-0.30

Yen

89.20

+0.29

Oil

$55.96

-$1.66

10-Year

2.329%

-0.028

T-Bond

155.28125

+0.46875

Dow

24140.91

-0.16%

Nasdaq

6776.38

+0.21%

S&P

2629.27

-0.01%

 
http://www.goldseek.com/news/2017/2017-12-06_14-03-22.jpg

 

The Metals:

 

Gold gained $2.30 to $1269.10 in Asia before it drifted back to $1262.70 in late morning New York trade, but it then bounced back higher in afternoon trade and ended with a loss of just 0.17%. Silver slipped to as low as $15.916 and ended with a loss of 0.87%.

 

Euro gold rose above €1072, platinum lost $14 to $900, and copper climbed a penny to about $2.95.

 

Gold and silver equities fell roughly 1% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Libor's Climb to Almost Decade High Shouldn't Be Overlooked  Bloomberg

US productivity jumps 3 percent in third quarter, best showing in 3 years, while labor costs fall  ABC News

U.S. private sector adds 190,000 jobs in November: ADP  Reuters

 

Tomorrow brings Initial Jobless Claims and Consumer Credit.

 

The Markets:

 

Oil dropped almost 3% after the Energy Information Administration reported that crude inventories fell 5.6 million barrels, gasoline inventories rose 6.8 million barrels, and distillates rose 1.7 million barrels.

 

The U.S. dollar index rose on optimism that a tax bill will be passed by the end of the year.

 

Treasuries saw decent gains as the Dow, Nasdaq, and S&P waffled near unchanged on concerns about a possible government shutdown Saturday.

 

Among the big names making news in the market today were Walgreens, Google, UnitedHealth, Boeing, and Square.

 

GATA Posts:

 

 

GATA Chairman Murphy interviewed for Reluctant Preppers

 

The Statistics:

As of close of business: 12/5/2017

Gold Warehouse Stocks:

8,906,586.808

+100.85

Silver Warehouse Stocks:

239,703,496.820

-148,434.77

 

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

845.468

27,182,657

US$34,348m

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$5,612m

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$6,203m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.462 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.58: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,006.40: +82.18 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) filed technical report and Newmont’s (NEM) updated outlook and guidance were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Alio Gold

ALO +2.72% $3.02

2.  B2Gold

BTG +2.35% $2.61

3.  Fortuna

FSM +2.12% $4.34

 

LOSERS

1.  NovaGold

NG -6.91% $3.50

2.  AngloGold

AU -6.26% $9.14

3.  Harmony

HMY -6.18% $1.67

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, 6 December 2017 | E-Mail  | Print  | Source: GoldSeek.com

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