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Gold Seeker Closing Report: Gold and Silver End Mixed
By: Chris Mullen, Gold-Seeker.com

 -- Published: Monday, 31 March 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1283.30

-$9.40

Silver

$19.79

UNCH

XAU

91.19

-2.31%

HUI

219.17

-2.51%

GDM

654.63

-2.09%

JSE Gold

1447.13

-21.57

USD

80.09

-0.08

Euro

137.77

+0.28

Yen

96.88

-0.37

Oil

$101.58

-$0.09

10-Year

2.723%

+0.011

Bond

133.09375

-0.4375

Dow

16457.66

+0.82%

Nasdaq

4198.99

+1.04%

S&P

1872.34

+0.79%

 
 

 

The Metals:

 

Gold climbed up to $1298.06 in Asia before it fell back to as low as $1282.52 in afternoon New York trade and then bounced back higher into the close, but it still ended with a loss of 0.73%. Silver climbed to as high as $20.006 before it fell back to $19.726, but it then edged back higher in late trade ended unchanged on the day.

 

Euro gold fell to about €932, platinum gained $8.30 to $1413, and copper fell slightly to about $3.03.

 

Gold and silver equities fell over 1% at the open before they rallied back to about unchanged in the next 45 minutes of trade, but they then dropped to see over 2% losses by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Chicago PMI

Mar

55.9

60.1

59.8

 

Yellen strongly defends easy Fed policies, cites U.S. labor slack Reuters

Yellen Says Extraordinary Support Needed for ‘Some Time’ Bloomberg

 

Tomorrow brings the ISM Index and Construction Spending.

 

The Markets:

 

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

 

Oil ended slightly lower in mixed end of the quarter trade.

 

The U.S. dollar index fell on poor economic data.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose on Yellen’s pledge to continue to support the economy.

 

Among the big names making news in the market today were GM, EnCana, UnitedHealth, and AT&T.

 

GATA Posts:

 

 

Swiss, UK watchdogs step up scrutiny on forex traders

High-speed traders rip investors off, author Michael Lewis tells '60 Minutes'

Gold repatriation becomes an issue in the Solomon Islands

Koos Jansen: West-to-East gold exodus in full swing

Gold bugs and fiat currency advocates each have their own economic myths

CMRE spring dinner is likely to hear plenty about gold

Gene Arensberg: Comex commercials covering gold shorts in a hurry

Financial Times Adviser reviews Dimitri Speck's 'The Gold Cartel'

Class-action anti-trust suit against London gold fixers draws on GATA consultant's work

 

The Statistics:

Activity from: 3/28/2014

Gold Warehouse Stocks:

7,740,844.453

+41,748.24

Silver Warehouse Stocks:

179,790,814.752

+108,916.276

 

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

816.972

26,266,458

US$33,915m

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$5,719m

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$461m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

40.03

1,286,952

US$1,690m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.14: No change from yesterday’s data.

 

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

 

The Miners:

 

Barrick’s (ABX) new executive compensation program, Gold fields’ (GFI) Integrated Annual Review, Banro’s (BAA) 2013 results, Alamos Gold’s (AGI) dividend and increase in reserves and resources, Kirkland’s (KGI.TO) strategic review process, Endeavour Silver’s (EXK) mine fatality, and Silver Bear’s (SBR.TO) PEA were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Solitario

XPL +1.93% $1.27

2.  Almaden

AAU +1.45% $1.39

3.  Freeport

FCX +0.64% $33.07

 

LOSERS

1.  Allied Nevada

ANV -7.11% $4.31

2.  Alexco

AXU -6.83% $1.50

3.  MAG Silver

MVG -5.74% $6.90

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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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: Monday, 31 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

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