• Gold: 1,229.15 13.68
  • Silver: 17.84 0.02
  • Euro: 1.289 0.004
  • USDX: 84.415 -0.263
  • Oil: 91.61 0.92

November 15: Gold and Silver Fall Slightly

Chris Mullen
|
Thursday, November 15th
 

Close

Gain/Loss

Gold

$1714.00

-$11.00

Silver

$32.58

-$0.05

XAU

164.36

-2.45%

HUI

437.05

-2.43%

GDM

1269.01

-2.60%

JSE Gold

2297.92

-51.35

USD

81.08

-0.04

Euro

127.73

+0.40

Yen

123.19

-1.41

Oil

$85.45

-$0.87

10-Year

1.589%

UNCH

T-Bond

152.0625

+0.03125

Dow

13542.38

-0.23%

Nasdaq

2836.93

-0.35%

S&P

1353.32

-0.16%

 
 

 

The Metals:

 

Gold edged up to $1726.71 in Asia before it fell back to as low as $1705.57 in midmorning New York trade, but it then bounced back higher midday and ended with a loss of just 0.64%. Silver slipped to as low as $32.166 and ended with a loss of 0.15%.

 

Euro gold fell to about €1342, platinum lost $15.50 to $1569, and copper remained at about $3.46.

 

Gold and silver equities fell over 3% by early afternoon before they rebounded slightly, but they still ended with about 2.5% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

11/10

439K

388K

361K

CPI

Oct

0.1%

0.1%

0.6%

Core CPI

Oct

0.2%

0.1%

0.1%

Empire Manufacturing

Nov

-5.2

-8.5

-6.2

Philadelphia Fed

Nov

-10.7

0.0

5.7

 

Bernanke Says Fed Will Do What It Can to Support Housing Bloomberg

Serious Mortgage Delinquencies Fall to Lowest Since 2008 Bloomberg

Mortgage Rates Fall to Record Lows With 30-Year at 3.34% Bloomberg

 

Tomorrow brings Net Long-Term TIC Flows, Industrial Production, and Capacity Utilization.

 

The Markets:

 

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

 

Oil remained lower after the Energy Information Administration reported that crude inventories rose 1.1 million barrels, gasoline inventories fell 400,000 barrels, and distillates fell 2.5 million barrels.

 

The U.S. dollar index fell as the euro rose on continued relief over Greece’s most recent bailout. The yen dropped markedly after Shinzo Abe “called on the Bank of Japan to implement “unlimited easing” in order to hit a 2% to 3% inflation target.” Shinzo Abe is the front runner to win the Japanese election next month.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell on poor earnings and economic reports.

 

Among the big names making news in the market today were BofA, McDonald’s, P&G, BP, Berkshire Hathaway, Wal-Mart, and Texas Instruments.

 

GATA Posts:

 

 

Federal energy commission suspends Morgan unit's trading authority

New York Sun: The Ron Paul awakening

Hong Kong Gold and Silver Exchange seeks warehouse in China

Ron Paul departs with 'Our Constitution has failed'

 

The Statistics:

As of close of business: 11/14/2012

Gold Warehouse Stocks:

11,201,197.338

+36,220.272

Silver Warehouse Stocks:

141,137,277.614

-2,379,195.424

 

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

1336.301

42,963,415

US$73,429m

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

Gold Bullion Securities

140.16

4,506,290

US$7,727m

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

ETFS Physical Gold

157.41

5,061,032

US$8,253m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$615m

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 subtracted 2.411 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 212.01: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,030.35: No change from yesterday’s data.

 

The Miners:

 

Banro’s (BAA) exploration update, Great Basin’s (GBG) quarterly results, Nevsun’s (NSU) dividend and director resignation, ITH’s (THM) third quarter results, Vista Gold’s (VGZ) General Manager appointment, Gold Resource’s (GORO) third quarter results, and Excellon’s (EXN.TO) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Golden Star

GSS+4.91% $1.71

2. DRDGOLD

DRD+3.38% $7.65

3. NovaGold

NG +3.34% $4.33

 

LOSERS

1. Sandstorm

SAND-12.29%$10.99

2. Seabridge

SA -7.92% $14.54

3. Exeter

XRA -7.86% $1.29

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.

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