• Gold: 1,239.75 1.46
  • Silver: 14.61 0.03
  • Euro: 1.135 0.005
  • USDX: 97.117 -0.326
  • Oil: 52.12 0.9

November 20: Gold Holds Steady While Stocks Drop 2% More

Chris Mullen
|
Tuesday, November 20th

 

Close

Gain/Loss

Gold

$1222.40

-$0.80

Silver

$14.32

-$0.10

XAU

65.17

-0.81%

HUI

147.19

-0.73%

GDM

538.38

-0.32%

JSE Gold

1143.65

+2.03

USD

96.81

+0.60

Euro

113.68

-0.82

Yen

88.76

UNCH

Oil

$53.43

-$3.77

10-Year

3.056%

+0.003

T-Bond

139.90625

+0.125

Dow

24465.64

-2.21%

Nasdaq

6908.82

-1.70%

S&P

2641.89

-1.82%

 
http://www.goldseek.com/news/2018/2018-11-20_14-04-11.jpg

 

The Metals:

 

Gold chopped near unchanged in Asia before it climbed up to $1228.70 in London and then dropped to a new session low of $1220.00 by early afternoon in New York, but it then bounced back higher into the close and ended with a loss of just 0.07%. Silver edged up to $14.489 before it dropped back to $14.23 and then also rebounded, but it still ended with a loss of 0.69%.

 

Euro gold rose above €1075, platinum lost $10 to $840, and copper fell 4 cents to about $2.76.

 

Gold and silver equities fell nearly 3% in the first 45 minutes of trade, but they then climbed back close to unchanged at several points of trade and ended only modestly lower on the day.

 

The Economy:

 

US trade war with China won't be ending anytime soon: CNBC CFO survey  CNBC

White House's Kudlow: Tax reform's next phase won't happen in 2018  Reuters

Goldman Sachs sees 'modest' emerging market rebound in 2019  Reuters

U.S. housing starts rise on multi-family segment  Reuters

 

Tomorrow brings Weekly jobless claims, Durable goods orders, Existing home sales, Consumer sentiment, and Leading economic indicators.

 

The Markets:

 

Oil fell nearly 7% on global economic concerns that sent the U.S. dollar index higher and the Dow, Nasdaq, and S&P roughly 2% lower. Treasuries held firm in a search for safety.

 

Among the big names making news in the market today were Deutsche Bank, Amazon, Renault, Campbell Soup, Kohl’s, Best Buy, Lowe’s, and Target.

 

GATA Posts:

 

 

Bitcoin-rigging criminal probe focused on tie to Tether

Bitcoin for payments a distant dream as use dries up

Next rally in monetary metals will be an explosion, GATA chairman says

 

The Statistics:

As of close of business: 11/19/2018

Gold Warehouse Stocks:

8,015,760.647

-9,658.082

Silver Warehouse Stocks:

292,711,900.690

-1,796,220.892

 

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

760.861

24,462,429

US$29,911m

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$5,433m

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$6,008m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.177 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 271.48: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,091.71: No change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) mobilized drill rigs, Northern Dynasty’s (NAK) Right-of-Way Agreement, and Silver Bull’s (SVBL) completed Geophysical Survey were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Franco-Nevada

FNV +1.33% $68.35

2.  Kinross

KGC +1.16% $2.61

3.  Sibanye

SBGL +0.75% $2.68

 

LOSERS

1.  Golden Star

GSS -9.87% $2.74

2.  Coeur

CDE -5.68% $4.15

3.  Freeport

FCX -5.47% $10.88

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

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