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

 -- Published: Wednesday, 11 March 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1154.00

-$7.30

Silver

$15.50

-$0.18

XAU

65.96

+3.42%

HUI

162.73

+3.28%

GDM

504.41

+0.81%

JSE Gold

1162.53

-12.87

USD

99.73

+1.14

Euro

105.41

-1.40

Yen

82.32

-0.24

Oil

$48.17

-$0.12

10-Year

2.109%

-0.017

Bond

145.75

+0.50

Dow

17635.39

-0.16%

Nasdaq

4849.94

-0.20%

S&P

2040.24

-0.19%

 
 

 

The Metals:

 

Gold edged up to $1164.69 in late Asian trade before it fell back to $1147.97 in late morning New York trade and then bounced back higher in afternoon trade, but it still ended with a loss of 0.63%.  Silver slipped to a low as $15.289 and ended with a loss of 0.45%.

 

Euro gold rose to about €1095, platinum lost $9.50 to $1115, and copper fell a couple of cents to about $2.61.

 

Gold and silver equities fell about 2% in the first hour of trade, but they then rallied back higher for most of the rest of trade and ended with roughly 2% gains.

 

The Economy:

 

Tomorrow brings Initial Jobless Claims, Retail Sales, Import and Export Prices, Business Inventories, and the Treasury Budget.

 

The Markets:

 

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

 

Oil ended slightly lower after the Energy Information Administration reported that crude inventories rose 4.5 million barrels, gasoline inventories fell 200,000 barrels, and distillates rose 2.5 million barrels.

 

The U.S. dollar rose over 1% as the euro continued to fall on divergent interest rate policies between the fed and the ECB.

 

Treasuries saw slight gains as the Dow, Nasdaq, and S&P edged lower in afternoon trade on worries about interest rates.

 

Among the big names making news in the market today were Berkshire Hathaway, Shake Shack, and UBS.

 

GATA Posts:

 

 

Venezuela negotiating again to pawn its gold reserves, sources tell Reuters

 

The Statistics:

Activity from: 3/10/2015

Gold Warehouse Stocks:

8,178,908.095

-4,018.75

Silver Warehouse Stocks:

177,443,186.671

+997.80

 

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

753.037

24,210,887

US$27,826m

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$5,103m

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$413m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.86: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,181.17: No change from yesterday’s data.

 

The Miners:

 

Harmony’s (HMY) discovery and Kirkland’s (KGI.TO) third quarter results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  MAG Silver

MVG +10.15% $6.73

2.  AuRico

AUQ +9.74% $2.93

3.  McEwen

MUX +9.57% $1.03

 

LOSERS

1.  SilverCrest

SVLC -3.46% $1.07

2.  Turquoise

TRQ -0.97% $3.05

3.  Avino

ASM -0.78% $1.28

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: Wednesday, 11 March 2015 | E-Mail  | Print  | Source: GoldSeek.com

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