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Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 2% and 3% on the Week While Stocks Drop Nearly 5%
By: Chris Mullen, Gold Seeker Report

 -- Published: Friday, 7 December 2018 | Print  | Disqus 

 

Close

Gain/Loss

On Week

Gold

$1248.40

+$10.10

+2.19%

Silver

$14.63

+$0.25

+3.25%

XAU

67.94

+2.40%

+5.40%

HUI

153.93

+2.58%

+6.13%

GDM

560.05

+2.34%

+5.32%

JSE Gold

1201.13

-0.09

+9.31%

USD

96.60

-0.14

-0.61%

Euro

114.10

+0.24

+0.80%

Yen

88.80

+0.01

+0.67%

Oil

$52.61

+$1.12

+3.30%

10-Year

2.856%

-0.031

-4.86%

Bond

143.90625

+0.34375

+2.27%

Dow

24388.95

-2.24%

-4.50%

Nasdaq

6969.25

-3.05%

-4.93%

S&P

2633.08

-2.33%

-4.60%

 
http://www.goldseek.com/news/2018/2018-12-07_14-07-39.jpg

 

The Metals:

 

Gold saw slight gains in Asia and London, but it then accelerated higher in New York and ended near its early afternoon high of $1250 with a gain of 0.82%. Silver rose to as high as $14.645 and ended with a gain of 1.04%.

 

Euro gold rose above €1094, platinum gained $4 to $791, and copper remained at about $2.75.

 

Gold and silver equities traded about 1% higher for most of the morning before they more than doubled their gains in early afternoon trade and then dipped slightly into to close, but they still ended about 2.5% higher on the day.

 

The Economy:

 

Fed policymakers signal turning point on U.S. rate-hike path  Reuters

Trump signs bill to delay government shutdown, sets up border wall fight  CNBC

Consumer sentiment index holds near highs in December  MarketWatch

U.S. October wholesale inventories revised higher  Reuters

US created 155,000 jobs in November, vs 198,000 expected  CNBC

U.S. job growth slows; monthly wage gains miss expectations  Reuters

 

The Markets:

 

Oil rose over 2% after OPEC finally arrived at an output cut of 1.2 million bpd.

 

The U.S. dollar index fell and treasuries rose as the Dow, Nasdaq, and S&P dropped over 2% on continued concerns over trade and slowing economic growth.

 

Among the big names making news in the market Friday were JPMorgan, Cronos, and GE.

 

GATA Posts:

 

 

London metals trader told CFTC, Justice about JPM's market rigging 7 years ago

Ireland's central bank says its gold transactions are too 'sensitive' to disclose

NYSE accused of letting Morgan Stanley make after-hours trades

Central banks fear they might not rule the world forever

Maduro says Russia will invest billions in Venezuela's oil and gold production

Venezuelan officials seek meeting with Bank of England over gold repatriation, sources tell Reuters

Brandon White: Arctic trails, winter gales, and gold's secret tales

 

The Statistics:

Activity from: 12/6/2018

Gold Warehouse Stocks:

8,246,046.616

+64,757.774

Silver Warehouse Stocks:

296,370,196.664

+747,973.81

 

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

758.214

24,377,329

US$30,296m

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$5,531m

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$6,117m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$448m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.17: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,913.79: -87.61 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Americas Silver

USAS +7.25% $1.405

2.  Endeavour Silver

EXK +7.07% $1.97

3.  Alamos

AGI +6.82% $3.60

 

LOSERS

1.  Freeport

FCX -2.06% $10.92

2.  EMX Royalty

EMX -1.74% $1.13

3.  Turquoise

TRQ -1.14% $1.74

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

 

- Chris Mullen, Gold Seeker Report

 

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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.

 


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 -- Published: Friday, 7 December 2018 | E-Mail  | Print  | Source: GoldSeek.com

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