-- Posted Monday, 12 March 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1699.40 | -$12.40 |
Silver | $33.57 | -$0.60 |
XAU | 184.22 | -1.41% |
HUI | 501.07 | -1.74% |
GDM | 1452.48 | -1.57% |
JSE Gold | 2544.39 | +2.44 |
USD | 79.85 | -0.14 |
Euro | 131.53 | +0.29 |
Yen | 121.60 | +0.31 |
Oil | $106.34 | -$1.06 |
10-Year | 2.031% | -0.007 |
T-Bond | 141.96875 | +0.21875 |
Dow | 12959.71 | +0.29% |
Nasdaq | 2983.66 | -0.16% |
S&P | 1371.09 | +0.02% |
The Metals:
Gold fell over 1% to as low as $1692.132 by a little after 10:30AM EST before it rebounded midday, but it still ended with a loss of 0.72%. Silver slipped to as low as $33.34 and ended with a loss of 1.76%.
Euro gold fell to about €1305, platinum gained $12 to $1690.50, and copper fell slightly to about $3.83.
Gold and silver equities fell almost 2% by midmorning and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Treasury Budget | Feb | -$231.7B | -$229.0B | -$222.5B |
Tomorrow at 8:30AM EST brings Retail Sales for February expected at 1.0%. Excluding autos, sales are expected at 0.6%. At 10AM is the Business Inventories report for January expected at 0.6% and at 2:15 is a FOMC rate decision.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on concerns about slowing growth in China after they posted their largest trade deficit in at least a decade.
“China's trade balance plunged $31.5 billion into the red in February as imports swamped exports to leave the largest deficit in at least a decade and fuel doubts about the extent to which frail foreign demand or seasonal distortion drove the drop.”
The U.S. dollar index ended slightly lower ahead of tomorrow’s fed meeting.
Treasuries saw modest gains on worries about China and Europe that held the Dow, Nasdaq, and S&P near unchanged.
Among the big names making news in the market today were Volkswagen, PepsiCo, Asahi Kasei, IBM, Citigroup, and United.
GATA Posts:
Taiwan boasts of gold gains but promises not to repeat them
Please help us get support from mining companies and World Gold Council
Got Gold Report: Short covering in play
Jim Sinclair to speak at CMRE dinner in New York on May 17
Zero Hedge cites Fed's market rigging, China's dumping dollars for oil and gold
The Statistics:
Activity from: 3/09/2012
Gold Warehouse Stocks: | 11,405,165 | -815 |
Silver Warehouse Stocks: | 130,318,464 | -620,117 |
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 | 1293.676 | 41,592,971 | US$70,567m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 118.63 | 3,813,918 | US$6,482m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 126.23 | 4,058,350 | US$6,985m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 472,655 | US$777m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 39.75 | 1,278,132 | US$2,160m |
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: No change from yesterday’s data.
The Miners:
Banro’s (BAA) 43-101 technical report, Goldcorp’s (GG) clarification, NovaGold’s (NG) Corporate Communications appointment, Gold Resource’s (GORO) gold and silver dividend program, Vista Gold’s (VGZ) drill results, and Silver Standard’s (SSRI) fourth quarter and year end results were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Mines MGMT | MGN +7.65% $1.97 |
2. Tanzanian Royalty | TRX +7.29% $4.71 |
3. Timmins | TGD +3.56% $2.62 |
LOSERS
1. Midway | MDW -7.14% $1.56 |
2. Golden Minerals | AUMN -5.93% $6.98 |
3. NovaGold | NG -5.86% $7.55 |
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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© Gold Seeker 2012
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-- Posted Monday, 12 March 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Almost 1% and 2%
