-- Posted Wednesday, 7 March 2012 | | Disqus
Gold fell to $1671.21 in Asia before it rebounded to $1682.73 in London and then dropped back to $1672.40 by midmorning in New York, but then rose to a new session high of $1687.70 in the last hour of trade and ended with a gain of 0.65%. Silver slipped to $32.695 before it climbed back to $33.223 and then dropped to $32.826, but it then rose to a new session high of $33.556 and ended with a gain of 1.28%.
Euro gold rose to about €1282, platinum gained $17.75 to $1626.50, and copper gained a few cents to about $3.77.
Gold and silver equities waffled near unchanged and ended mixed.
Unit Labor Costs
Mortgage applications dipped last week: MBA Reuters
Bernanke Seen Accepting Faster Inflation as Fed Seeks Jobs Boost Bloomberg
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 3/03 expected at 355,000.
(Insert Charts Here)
Charts Courtesy of http://finance.yahoo.com/
Oil extended higher after the Energy Information Administration reported that crude inventories rose 800,000 barrels, gasoline inventories fell 400,000 barrels, and distillates fell 1.9 million barrels.
The U.S. dollar index and treasuries fell as the Dow, Nasdaq, and S&P rose on decent economic data and rumors that the fed is considering a new bond-buying program.
Fed weighing new form of bond buying: report MarketWatch
Among the big names making news in the market today were Olympus, Netflix, Freddie Mac, and Sprint.
James Turk: A perspective on money from Howard and Warren Buffett
Activity from: 3/06/2012
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,763.25: -42.3 change from yesterday’s data.
Indonesia’s plans to limit foreign ownership of its mines, Extorre’s (XG) bought deal financing, Great Basin’s (GBG) update, and New Gold’s (NGD) increase in gold resources were among big stories in the gold and silver mining industry making headlines today.
EGI +6.35% $1.34
LON -5.36% $1.43
SA -3.05% $20.97
3. Tanzanian Royalty
TRX -2.74% $3.90
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
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-- Posted Wednesday, 7 March 2012 | Digg This Article | Source: GoldSeek.com