December 5: Gold and Silver Fall With Stocks

Chris Mullen
|
Tuesday, December 5th

 

Close

Gain/Loss

Gold

$1266.80

-$9.50

Silver

$16.12

-$0.22

XAU

77.51

-1.55%

HUI

179.77

-1.65%

GDM

609.59

-1.11%

JSE Gold

1322.47

-64.42

USD

93.32

+0.15

Euro

118.25

-0.35

Yen

88.91

-0.03

Oil

$57.62

+$0.15

10-Year

2.357%

-0.015

T-Bond

154.78125

+0.65625

Dow

24180.64

-0.45%

Nasdaq

6762.21

-0.19%

S&P

2629.57

-0.37%

 
http://www.goldseek.com/news/2017/2017-12-05_14-03-08.jpg

 

The Metals:

 

Gold held near unchanged in Asia and London, but it then fell back off in early New York trade and ended not far from its late morning low of $1261.10 with a loss of 0.74%. Silver slipped to as low as $16.029 and with a loss of 1.35%.

 

Euro gold fell to about €1071, platinum lost $10 to $914, and copper dropped 13 cents to about $2.94.

 

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

 

The Economy:

 

Growth in U.S. Service Industries Cools From a 12-Year High  Bloomberg

U.S. trade deficit scales nine-month high; oil prices lift imports  Reuters

 

Tomorrow brings ADP Employment and Productivity.

 

The Markets:

 

Oil edged higher on wariness about OPEC’s output cuts.

 

The U.S. dollar index pared early gains and treasuries rose as the Dow, Nasdaq, and S&P turned lower in afternoon trade on uncertainty about the details of the tax plan.

 

Among the big names making news in the market today were Disney and Fox, Wells Fargo, Dish Network, and McDonald’s.

 

GATA Posts:

 

 

Gold mining to resume in Wales after 20 years, just in time for royal wedding

An $814 million mystery near the heart of the biggest bitcoin exchange

People have spent over $1 million buying virtual cats on ethereum blockchain

 

The Statistics:

As of close of business: 12/4/2017

Gold Warehouse Stocks:

8,906,485.958

-

Silver Warehouse Stocks:

239,851,930.880

+590,713.561

 

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

846.930

27,229,662

US$34,468m

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$6,197m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.182 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 241.58: -0.05 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,924.22: -4.22 change from yesterday’s data.

 

The Miners:

 

Nevsun’s (NSU) drill results, Turquoise Hill’s (TRQ) 2018 production and financial guidance, and Goldcorp’s (GG) dividend were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Americas Silver

USAS +3.58% $3.60

2.  Gold Standard

GSV +3.50% $1.48

3.  Freeport

FCX +0.46% $14.11

 

LOSERS

1.  Taseko

TGB -7.41% $2.00

2.  Avino

ASM -5.65% $1.17

3.  Seabridge

SA -4.61% $10.35

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 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.