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Gold Seeker Closing Report: Gold Gains While Stocks Slump
By: Chris Mullen, Gold-Seeker.com

 -- Published: Tuesday, 11 March 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1347.00

+$7.10

Silver

$20.81

UNCH

XAU

99.86

+0.01%

HUI

242.40

+0.56%

GDM

722.41

+0.21%

JSE Gold

1573.43

+14.90

USD

79.78

+0.02

Euro

138.61

-0.17

Yen

97.15

+0.33

Oil

$100.03

-$1.09

10-Year

2.766%

-0.018

Bond

133.00

+0.28125

Dow

16351.25

-0.41%

Nasdaq

4307.18

-0.63%

S&P

1867.63

-0.51%

 
 

 

The Metals:

 

Gold climbed $12.55 to $1352.45 in London before it dropped back to $1337.90 just before noon EST, but it then bounced back higher in early afternoon New York trade and ended with a gain of 0.53%.  Silver rose to as high as $21.309 before it dropped back to $20.662 and then also bounced back higher, but it still ended at unchanged on the day.

 

Euro gold rose to almost €972, platinum lost $12 to $1460, and copper crumpled another 9 cents to about $2.95.

 

Chinese bond default shakes global copper market Reuters

 

Gold and silver equities rose over 1% at the open before they fell to see slight losses by midday and then chopped back higher at times, but they still ended with only minor gains on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Jan

0.6%

0.4%

0.4%

JOLTS - Job Openings

Jan

3.974M

-

3.914M

 

Tomorrow at 2PM EST brings the Treasury Budget for February expected at -$195 billion.

 

The Markets:

 

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

 

Oil traded mostly lower on relative calm in Ukraine.

 

The U.S. dollar index erased early gains and ended near unchanged as traders waited for more significant economic data later in the week.

 

Treasuries turned higher after today’s $30 billion 3-year note auction sold at yield of 0.802% with a bid to cover of 3.25.

 

The Dow, Nasdaq, and S&P ended decently lower in mixed trade.

 

Among the big names making news in the market today were Men's Wearhouse and Jos. A. Bank, CME, Chobani, Lenovo, Herbalife, and J.C. Penney.

 

GATA Posts:

 

 

New Ukraine regime blames predecessor for stealing gold and everything else

Zero Hedge: Was the price of Ukraine's 'liberation' the loss of its gold to the Fed?

Leading German institute calls for QE blitz to avert deflation trap in Europe

Lockerbie bombing was work of Iran, not Libya, former spy says

Russian-Ukrainian news site describes transfer of Ukrainian gold to U.S.

GATA's Murphy joins T. Boone Pickens, Sprott's Rule at Stansberry conference

Ukraine's gold reserves said being flown to New York Fed

New York Sun: Satoshi Nakamoto's silence

GATA's Murphy, GoldMoney's Macleod interviewed by Finance and Liberty

 

The Statistics:

Activity from: 3/10/2014

Gold Warehouse Stocks:

7,111,028.038

-30,032.784

Silver Warehouse Stocks:

183,469,434.767

+303,570.283

 

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) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

812.696

26,129,004

US$35,101m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,978m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$483m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.63

1,306,427

US$1,756m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 7.493 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.14: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,164.74: No change from yesterday’s data.

 

The Miners:

 

Sandstorm’s (SAND) fourth quarter and year end results, Comstock’s (LODE) fourth quarter and year end results, Seabridge’s (SA) mineral resource estimate, and Freeport’s (FCX) cut output in Indonesia were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Tanzanian Royalty

TRX +10.13% $2.61

2.  Mines Management

MGN +5.63% $1.50

3.  Sandstorm

SAND +5.58% $5.49

 

LOSERS

1.  Turquoise

TRQ -10.10% $3.56

2.  Avino

ASM -6.25% $1.95

3.  Endeavour Silver

EXK -5.47% $4.84

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2014

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.

 


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 -- Published: Tuesday, 11 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

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