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

 -- Published: Tuesday, 3 March 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1203.20

-$2.30

Silver

$16.26

-$0.11

XAU

73.80

-1.93%

HUI

183.35

-2.01%

GDM

566.33

-1.92%

JSE Gold

1335.85

-37.84

USD

95.40

-0.07

Euro

111.73

-0.12

Yen

83.54

+0.31

Oil

$50.52

+$0.93

10-Year

2.122%

+0.038

Bond

145.15625

-0.65625

Dow

18203.37

-0.47%

Nasdaq

4979.90

-0.56%

S&P

2107.78

-0.45%

 
 

 

The Metals:

 

Gold dipped down to $1195.54 in early Asian trade before it rallied up to $1214.68 at about 10AM EST, but it then fell back to $1201.87 in the next hour of trade and ended with a loss of 0.19%.  Silver slipped to as low as $16.081 and ended with a loss of 0.67%.

 

Euro gold fell to about €1077, platinum lost $2 to $1183, and copper fell 4 cents to about $2.66.

 

Gold and silver equities rose over 1% in the first half hour of trade, but they then fell back off for most of the rest of the day and ended with about 2% losses.

 

The Economy:

 

There were no major economic reports today.  Tomorrow brings ADP Employment, ISM Services, and the fed’s Beige Book.

 

The Markets:

 

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

 

Oil rose on worries about Libya and Iran.

 

The U.S. dollar edged lower as the yen rose on comments from an economic adviser to Japanese Prime Minister Shinzo Abe.

 

Treasuries fell along with the Dow, Nasdaq, and S&P ahead of this week’s jobs data.

 

Among the big names making news in the market today were Honda, Lumber Liquidators, JPMorgan, and Alibaba.

 

GATA Posts:

 

 

Jim Rickards: Why the U.S. is helping China accumulate gold

Gold repatriation movement is far broader than generally understood

 

The Statistics:

Activity from: 3/2/2015

Gold Warehouse Stocks:

8,385,550.831

+64,069.129

Silver Warehouse Stocks:

177,792,082.080

+629,173.58

 

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

763.486

24,546,843

US$29,756m

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$5,346m

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$432m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 7.763 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.97: -0.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,143.39: +11.91 change from yesterday’s data.

 

The Miners:

 

Comstock’s (LODE) management advances and Rio Alto’s (RIOM) NI 43-101 Technical Report were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Avino

ASM +3.52% $1.47

2.  Almaden

AAU +1.87% $1.09

3.  Fortuna

FSM +1.62% $4.38

 

LOSERS

1.  Silver Wheaton

SLW-5.57% $20.02

2.  MAG Silver

MVG -5.15% $6.81

3.  Rubicon

RBY -4.24% $1.13

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 2015

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, 3 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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