• Gold: 1,238.17 -0.12
  • Silver: 14.54 -0.04
  • Euro: 1.130 0.000
  • USDX: 97.443 0.321
  • Oil: 51.22 -1.76

November 5: Gold and Silver Dip with Dollar Before Election Day

Chris Mullen
|
Monday, November 5th

 

Close

Gain/Loss

Gold

$1230.50

-$2.60

Silver

$14.64

-$0.11

XAU

67.14

-0.07%

HUI

149.83

+0.26%

GDM

544.17

-0.37%

JSE Gold

1162.02

+28.85

USD

96.34

-0.11

Euro

114.11

+0.16

Yen

88.41

UNCH

Oil

$63.10

-$0.04

10-Year

3.201%

-0.014

T-Bond

137.50

+0.34375

Dow

25461.70

+0.76%

Nasdaq

7328.85

-0.38%

S&P

2738.31

+0.56%

 
http://www.goldseek.com/news/2018/2018-11-05_14-01-46.jpg

 

The Metals:

 

Gold gained $1.30 to $1234.40 in Asia before it dropped back to $1227.00 in London and bounced back higher in early New York trade, but it then drifted back lower into the close and ended with a loss of 0.21%. Silver chopped between $14.766 and $14.599 and ended with a loss of 0.75%.

 

Euro gold fell under €1079, platinum gained $0.50 to $860.50, and copper dropped 6 cents to about $2.76.

 

Gold and silver equities rose roughly 1% at the open before they fell to see slight losses by midmorning, but they then rallied back higher in the last 90 minutes of trade and ended mixed.

 

The Economy:

 

Hot economy is cold comfort for Republicans in tight U.S. races  Reuters

U.S. economy still running strong in October, ISM services survey shows  MarketWatch

 

Tomorrow brings Job openings.

 

The Markets:

 

Oil reversed early gains and settled slightly lower on easing concerns about Iran.

 

The U.S. dollar index fell and treasuries rose on election uncertainty that sent the Dow, Nasdaq, and S&P in mixed directions on varied company news.

 

Among the big names making news in the market today were Apple, JP Morgan, Chevron, Goldman Sachs, and Lowe’s.

 

GATA Posts:

 

 

Venezuela seeks to repatriate $550 million of gold from Britain, sources tell Reuters

Futures markets spoofers getting caught in record numbers

 

The Statistics:

As of close of business: 10/2/2018

Gold Warehouse Stocks:

8,013,936.429

-52,553.283

Silver Warehouse Stocks:

290,905,381.688

+352,518.523

 

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

759.057

24,404,444

US$30,061m

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$5,465m

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$6,038m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$442m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.765 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.52: -0.06 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,180.82: -4.43 change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) drill results, New Gold’s (NGD) new CFO, Gold Fields’ (GFI) striking workers, Barrick’s (ABX) talks with Newmont (NEM) over possibly combining their Nevada gold mining operations, and AngloGold’s (AU) possible mine sale were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +5.88% $2.70

2.  AngloGold

AU +4.61% $10.43

3.  Gold Fields

GFI +3.65% $2.84

 

LOSERS

1.  DRDGOLD

DRD -5.28% $2.33

2.  Turquoise

TRQ -2.56% $1.90

3.  Agnico-Eagle

AEM-2.52% $36.32

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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