-- Posted Wednesday, 21 March 2012 | | Disqus
| Close | Gain/Loss |
Gold | $1649.30 | +$1.40 |
Silver | $32.12 | +$0.07 |
XAU | 177.79 | +0.02% |
HUI | 474.75 | -0.33% |
GDM | 1377.29 | -0.27% |
JSE Gold | 2423.36 | -16.00 |
USD | 79.63 | UNCH |
Euro | 132.09 | -0.16 |
Yen | 119.90 | +0.42 |
Oil | $107.27 | +$1.20 |
10-Year | 2.294% | -0.078 |
T-Bond | 137.96875 | +0.90625 |
Dow | 13124.62 | -0.35% |
Nasdaq | 3075.32 | +0.04% |
S&P | 1402.89 | -0.19% |
The Metals:
Gold climbed to $1660.03 in Asia before it fell back to $1646.50 in London and then rose to a new session high of $1661.80 by a little after 10AM EST, but it then fell back off into the close and ended with a gain of just 0.08%. Silver rose to $32.385 before it slipped back to $31.845, but it then bounced back higher in New York and ended with a gain of 0.22%.
Euro gold rose to about €1249, platinum lost $13.50 to $1637, and copper rose slightly to about $3.84.
Gold and silver equities waffled near unchanged and ended mixed.
The Economy:
Report | For | Reading | Expected | Previous |
Existing Home Sales | Feb | 4.59M | 4.60M | 4.63M |
Mortgage Applications Drop as Rates Jump CNBC
Bernanke and Geithner testified before a House committee about the European sovereign-debt crisis and noted that:
“The difficulties in the euro area have affected the U.S. economy. The European Union accounts for roughly one-fifth of U.S. exports of goods and services. Not surprisingly, U.S. exports to Europe over the past two years have underperformed our exports to the rest of the world. In addition, weaker demand from Europe has slowed growth in other economies, which has also lowered foreign demand for our products.”
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 3/17 expected at 355,000 and at 10AM are Leading Economic Indicators for February expected at 0.6% and the FHFA Housing Price Index for January.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil continued higher after the Energy Information Administration reported that crude inventories fell 1.2 million barrels, gasoline inventories fell 1.2 million barrels, and distillates rose 1.8 million barrels.
The U.S. dollar index and treasuries rose on disappointing housing data and worries about Europe that held the Dow, Nasdaq, and S&P near unchanged.
Among the big names making news in the market today were General Mills, JPMorgan, and Hartford Financial.
GATA Posts:
New York Sun: Bernanke 101
British Treasury's reserve boost plan doesn't include gold
Vin Maru: Paper trading and manipulation in precious metals
Charles Kadlec: The rising price of the falling dollar
With college kids, Bernanke gets away with dissing gold
Too bad South Africa won't help break the gold price suppression scheme
The Statistics:
As of close of business: 3/20/2012
Gold Warehouse Stocks: | 11,410,548.780 | - |
Silver Warehouse Stocks: | 133,348,967.800 | +235,292.73 |
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 | 1290.247 | 41,482,720 | US$68,394m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 119.15 | 3,830,754 | US$6,334m |
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 | 472,607 | US$755m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 39.75 | 1,278,062 | US$2,160m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.021 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,752.67: No change from yesterday’s data.
The Miners:
Rubicon’s (RBY) permits, NovaGold’s (NG) amended spin-out, ITH’s (THM) audited financial statements, Golden Star’s (GSS) Preliminary Economic Assessment, and Hochschild’s (HOCH.L) 2011 results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +4.35% $2.64 |
2. Gold Reserve | GRZ +4.07% $3.07 |
3. Aurizon | AZK +2.60% $4.73 |
LOSERS
1. Golden Star | GSS -6.70% $1.67 |
2. Pretivm | PVG-6.26% $13.93 |
3. Ivanhoe | IVN -5.44% $16.85 |
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 Wednesday, 21 March 2012 | Digg This Article
| Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver End Slightly Higher
