• Gold: 1,224.71 2.42
  • Silver: 14.43 0.11
  • Euro: 1.141 0.004
  • USDX: 96.644 -0.192
  • Oil: 54.45 1.08

November 9: Gold and Silver Gain Over 3% and 5% on the Week

Chris Mullen
|
Friday, November 9th
 

Close

Gain/Loss

On Week

Gold

$1731.00

-$1.80

+3.16%

Silver

$32.54

+$0.15

+5.27%

XAU

181.11

-1.37%

+1.20%

HUI

481.21

-1.60%

+1.40%

GDM

1398.63

-1.39%

+1.88%

JSE Gold

2466.27

+25.48

+3.39%

USD

81.06

+0.27

+0.61%

Euro

127.11

-0.37

-0.94%

Yen

125.86

-0.04

+1.22%

Oil

$86.07

+$0.98

+1.43%

10-Year

1.613%

-0.019

-6.55%

Bond

151.625

+0.4375

+2.17%

Dow

12815.39

+0.03%

-2.12%

Nasdaq

2904.87

+0.32%

-2.59%

S&P

1379.85

+0.17%

-2.43%

 
 

The Metals:

 

Gold fell $5.72 to $1727.08 by a little after 8AM EST before it climbed to as high as $1738.67 in the next couple of hours of trade, but it then fell back off into the close and ended with a loss of 0.1%. Silver slipped to $32.057 before it shot up to $32.775 and then also fell back off, but it still ended with a gain of 0.46%.

 

Euro gold rose to about €1362, platinum gained $10.45 to $1551.20, and copper fell a couple of cents to about $3.45.

 

Gold and silver equities fell about 1% by midmorning and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

Oct

0.0%

-

0.8%

Export Prices ex-ag.

Oct

0.2%

-

0.7%

Import Prices

Oct

0.5%

-

1.1%

Import Prices ex-oil

Oct

0.3%

-

0.2%

Michigan Sentiment

Nov

84.9

83.0

82.6

Wholesale Inventories

Sep

1.1%

0.4%

0.8%

 

All of this week’s other economic reports:

 

Trade Balance - September

-$41.5B v. -$43.8B

Initial Claims - 11/03

355K v. 363K

Consumer Credit - September

$11.4B v. $18.4B

ISM Services - October

54.2 v. 55.1

 

Next week’s economic highlights include the Treasury Budget on Tuesday, Retail Sales, PPI, Business Inventories, and FOMC Minutes on Wednesday, Initial Jobless Claims, CPI, Empire Manufacturing, and the Philadelphia Fed on Thursday, and Net Long-Term TIC Flows, Industrial Production, and Capacity Utilization on Friday.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

“U.S. Treasuries saw choppy trading on Friday, with the long end of the curve advancing even as other maturities slipped, as investors remained wary of the approaching "fiscal cliff" despite words of compromise by President Barack Obama.”

 

The Dow, Nasdaq, and S&P rose along with the U.S. dollar index and oil on better than expected economic data.

 

Among the big names making news in the market Friday were Chrysler, J.C. Penney, Lions Gate, Priceline, MGIC, and Groupon.

 

GATA Posts:

 

 

Help put 'Secret Gold Policy' into an English edition

GoldMoney's James Turk interviewed on Russia Today's 'Capital Account'

 

The Statistics:

Activity from: 11/08/2012

Gold Warehouse Stocks:

11,230,852.888

-38,327.43

Silver Warehouse Stocks:

143,006,991.117

+381,070.671

 

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)

SPDR® Gold Shares

1339.616

43,069,996

US$73,919m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

140.27

4,509,827

US$7,824m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

156.27

5,024,179

US$8,193m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$622m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

42.45

1,364,715

US$2,214m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.411 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 209.50: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,030.35: +48.19 change from yesterday’s data.

 

The Miners:

WINNERS

1. Solitario

XPL +6.21% $1.71

2. Timmins

TGD+4.02% $3.36

3. NovaGold

NG +3.55% $4.67

LOSERS

1. Exeter

XRA -5.88% $1.60

2. Northern Dynasty

NAK -5.49% $3.96

3. Mag Silver

MVG -4.14% $12.73

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

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2012

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.

 

Your rating: None Average: 5 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map