We use cookies (including third-party cookies such as Google) to remember your site preferences and to help us understand how visitors use our sites so we can improve them. To learn more, please see our privacy policy and our cookie policy.

To agree to our use of cookies, click 'Accept' or choose 'Options' to set your preferences by cookie type.

Options Accept
BullionVault

CHARTS

  • English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Polski
  • 日本語
  • 简体中文
  • 繁體中文
  • Daily audit
  • Help
  • Contact
  • Deposit
  • Login
  • Open account
  • ABOUT US
    • About BullionVault
    • In the press
    • Reviews
    BUY/SELL BULLION
    • Vaulted gold & silver
    • -Live order board
    • -Daily Price
    • Coins for delivery (UK)
    INVESTMENT GUIDE
    • Guide to gold
    • -How to buy gold
    • -Gold investment
    • -Gold investment plan
    • -Investment insurance
    • -Compare asset performance
    • Guide to silver
    • -How to buy silver
    • Guide to platinum
    • -How to buy platinum
    GOLD NEWS
    • Gold news front page
    • -Gold price news
    • -Opinion & analysis
    • -Market fundamentals
    • -Gold/Silver Investor Index
    • -Infographics
    CHARTS
    • Gold price
    • Silver price
    • Platinum price
    • Price alerts
  • Login
  • Open account
  • BUY/SELL BULLION
  • Vaulted gold & silver
    • ⤷
    • Live order board
    • Daily Price
  • Coins for delivery (UK)
  • INVESTMENT GUIDE
  • Guide to gold
    • ⤷
    • How to buy gold
    • Gold investment
    • Gold investment plan
    • Investment insurance
    • Compare asset performance
  • Guide to silver
    • ⤷
    • How to buy silver
  • Guide to platinum
    • ⤷
    • How to buy platinum
  • GOLD NEWS
  • Gold news front page
    • ⤷
    • Gold price news
    • Opinion & analysis
    • Market fundamentals
    • Gold/Silver Investor Index
    • Infographics
  • CHARTS
  • Gold price
  • Silver price
  • Platinum price
  • Price alerts
  • ABOUT US
  • About BullionVault
  • In the press
  • Reviews
  • Help
  • Contact
  • Daily audit
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Polski
    • 日本語
    • 简体中文
    • 繁體中文

Gold News

Live support

NEED HELP? ASK US NOW

Search form

Gold News front page

Gold Price News

Gold, Silver Fall with Stocks, Inflation Outlook as Covid and Lockdowns Worsen, Pension Rows Hit China and Spain

More...

Gold Investing In Depth

Learn about gold bullion bars

Learn about gold bullion coins (and costs)

Gold investment: Why & how?

Gold Investment Analysis

  • Latest Gold Investor Index
  • Diversification: Gold as investment insurance
  • 40-year Asset Performance Comparison Table

Gold Articles

Opinion & Analysis

Gold Price News

Investment News

Gold in History

Gold Books

Gold Investor Index

Gold Infographics

Archive

  • January 2021 (18)
  • December 2020 (24)
  • November 2020 (23)
  • October 2020 (25)
  • September 2020 (25)
More...

List of authors

Best-Ever Month for Stocks Sees Gold Price Sink Even as Dollar Falls Amid Vaccine Hopes

Monday, 11/30/2020 14:56
GOLD PRICES dipped further to new 5-month lows Monday lunchtime in London, falling as world stock markets held on to November's record gains amid encouraging Chinese economic data and hopes that Covid-19 vaccination programs will begin soon, writes Atsuko Whitehouse at BullionVault.
 
Gold prices fell another 1.4% to $1765 before bouncing $7 per ounce.
 
Down 6.1% from the start of November, that marks gold's biggest monthly fall since Donald Trump won the White House in November 2016.
 
Silver prices plunged 3.4% to $21.90 per ounce early this morning, the lowest in 2 months, recovering to $22 but still down 7.0% for this month.
 
Platinum prices in contrast held steady, down only 0.3% to $973 per ounce and up 12.9% for November, with the industrial precious metal "[supported] above $950 on physical demand," says the daily note from Swiss refiner MKS Pamp's team.
 
"Gold has remained under pressure as the appetite for risk remains seemingly unsated," says the latest daily gold-price and precious metals note from Rhona O'Connell at brokerage Stone X Group Inc, "with US officials saying that a vaccine could be deployed before year-end" and China's latest factory-activity survey posting its highest reading since September 2017.
 
What other analysts also called a "risk-on mood" saw traditional safe haven the US Dollar also fall, poised for a 2.7% drop in November to the lowest since April 2018 against its major peers on the forex market.
 
"Gold is down despite the weak Dollar because of internal factors of selling from ETFs," says Bruce Ikemizu, director of the Japan Bullion Market Association.
 
"When that selling has run its course, gold will probably rise again due to the weak Dollar factor."
 
Chart of gold backing GLD and IAU ETF trust funds. Source: BullionVault
 
Liquidation from gold-backed ETF trust funds slowed at the end of last week as US markets were shut or quiet for the Thanksgiving holidays.
 
But while the iShares Gold Trust (NYSEArca: IAU) saw net investor inflows from last Monday, the giant SPDR Gold Trust (NYSEArca: GLD) recorded its third consecutive weekly outflow of investor money, shrinking by 5.1% to the smallest in near 5 months.
 
"November looks set to be an awesome month for equity investors," says Australian bank NAB's analyst Rodrigo Catril, "with Europe leading the charge at a regional level."
 
European stocks were mixed Monday, but France and Italy showed their best-ever monthly stockmarket gains, up 21% and 26% respectively, while the MSCI measure of all rich-world equities has gained 13.5% for November so far.
 
The US S&P500 index has climbed over 11% to set new all-time peaks.
 
Gold price vs. S&P500 index. Source: St.Louis Fed
 
China's National Bureau of Statistics today said that the official manufacturing Purchasing Managers' Index (PMI) for November rose to 52.1 from 51.4 in October, the fastest monthly expansion pace in more than three years for factory-activity in the world's 2nd largest economy.
 
Gold prices on the Shanghai Gold Exchange meantime continued to show a discount to London on Monday, widening the gap to $25 per ounce as wholesale bullion demand in the metal's No.1 consumer market remains weak.
 
Gold priced in Yuan overnight hit an 8-month low at ¥370 per gram, losing 6.9% in November after 3 of China's major state-owned banks announced they are suspending new precious-metal account openings amid increased volatility in precious metal prices.
 
European gold prices today fell 1.3%, dropping to €1478 per ounce and declining 9.1% for November as UK gold prices in Pounds per ounce today declined by the same proportion to £1325 per ounce.
 
Talks between the UK and the European Union over a trade deal to follow 31 December's final exit from the world's 2nd largest economic bloc are now heading into what British Foreign Minister Dominic Raab calls a "very significant" week.
 
UK and other European government health regulators are pushing to approve US pharmaceutical giant Pfizer's Covid vaccine quickly, media reports say, while competitor Moderna is filing for US regulatory approval so it can start widespread vaccinations.
  • Reddit logo
  • Facebook logo
  • Twitter logo
  • Google logo
  • Yahoo logo
  • LinkedIn logo
  • Digg logo
  • StumbleUpon logo
  • Technorati logo

Atsuko Whitehouse is the Head of the Japanese Market at BullionVault and the Editor of Japanese GoldNews.

See all articles by Atsuko Whitehouse here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

Mobile apps

 - live trading 24/7

 - buy & sell instantly

 - up-to-the-second charts

 

 

 

Daily news email
Go to 'communications settings' 

Get the latest daily gold price news free by email

Latest gold news by email

 

 

 

Gold Investor Index
5 January 2020

Gold Investor Index

Gold investing +58% in NY21

 

 

 

LBMA webinar
21 January 2021

LBMA

London gold trading

 

 

 

International
Investment

16 December 2020

Gold 2021

Gold in 2021

 

 

 

LBMA Alchemist
1 December 2020

Newton

True Gold/Silver Ratio

 

 

 

  •  Email us

Market Fundamentals

  • 'Cut Bullion Duty to Cut Smuggling': India's Gold Industry
  • Platinum Price Hits 4-Year High Even as Electric Beats Diesel Cars in Europe
  • Record Investing Pushes 'Industrial' Silver and Platinum into Deep Deficits
More...
  • Cost calculator
  • Cookies
  • Terms & conditions

©BullionVault Ltd 2005-

  • Twitter
  • Facebook
  • LinkedIn
  • YouTube

Save your cookie preferences

We use cookies to remember your site preferences, record your referrer and improve the performance of our site. For more information, see our cookie policy.

Please select an option below and 'Save' your preferences.

Save

You can update your cookie preferences at any time from the 'Cookies' link in the footer.

Secure auto-logout warning

You have not been active for some time.

For your security you will be logged out in   minutes unless you take action.