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Gold Seeker Closing Report: Gold and Silver Fall With Stocks and Oil
By: Chris Mullen, Gold-Seeker.com


-- Posted Thursday, 22 March 2012 | | Disqus

 

Close

Gain/Loss

Gold

$1642.50

-$6.80

Silver

$31.42

-$0.70

XAU

174.26

-1.99%

HUI

465.32

-1.99%

GDM

1351.62

-1.86%

JSE Gold

2432.10

+8.74

USD

79.70

+0.07

Euro

131.88

-0.25

Yen

121.16

+1.22

Oil

$105.35

-$1.92

10-Year

2.275%

-0.019

T-Bond

137.96875

+0.90625

Dow

13046.14

-0.60%

Nasdaq

3063.32

-0.39%

S&P

1392.78

-0.72%

 
 

 

The Metals:

 

Gold saw slight gains in Asia before it fell to as low as $1628.00 by about 9:30AM EST, but it then rallied back higher into the close and ended with a loss of just 0.41%.  Silver slipped to as low as $31.09 by early afternoon in New York before it also bounced back higher in late trade, but it still ended with a loss of 2.18%.

 

Euro gold fell to about €1256, platinum lost $20 to $1617, and copper dropped 8 cents to about $3.76.

 

Gold and silver equities fell about 2% at the open and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/17

348K

355K

353K

Leading Indicators

Feb

0.7%

0.6%

0.2%

FHFA Housing Price Index

Jan

0.0%

-

0.1%

 

Mortgage Rates for 30-Year Loans Rise to Highest in Five Months Bloomberg

Most Americans Since 2004 See Economy Improving as Jobs Pick Up Bloomberg

 

Tomorrow at 10AM EST brings New Home Sales for February expected at 323,000.

 

The Markets:

 

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

 

Oil fell as the U.S. dollar index and treasuries rose on worries about slowing economic growth in Europe and China that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were FedEx, Fannie Mae and Freddie Mac, and McDonald’s.

 

GATA Posts:

 

 

Turkey targets gold stashes

Finance council should speed up speculation curbs, Chilton says

The CFTC has already done all it can about silver -- and everything else

James Turk: Bernanke goes to (my) college

 

The Statistics:

As of close of business: 3/21/2012

Gold Warehouse Stocks:

11,408,690.210

-1,858,57

Silver Warehouse Stocks:

134,645,618.910

+1,296,651.11

 

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$67,823m

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$6,274m

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

472,601

US$751m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

110,741.00

1,281,861

US$1k

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: 9,726.99: -25.68 change from yesterday’s data.

 

The Miners:

 

Eldorado’s (EGO) Greece activity update, NovaGold’s (NG) spin-out recommendation, New Gold’s (NGD) acquisition of mineral claims, ITH’s (THM) operations update, Randgold’s (GOLD) monitoring of event in Mali, Gold Fields’ (GFI) exercised option, and MAG Silver’s (MVG) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +6.51% $2.29

2.  Tanzanian Royalty

TRX +5.02% $4.81

3.  Endeavour Silver

EXK +2.82% $9.49

 

LOSERS

1.  Randgold

GOLD-12.38%$90.60

2.  ITH

THM -9.17% $4.16

3.  Banro

BAA -6.76% $4.55

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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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.


-- Posted Thursday, 22 March 2012 | Digg This Article | Source: GoldSeek.com

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