-- Published: Thursday, 19 March 2015 | Print | Disqus
Gold edged up to $1175.68 in early Asian trade before it fell back to $1159.57 by a little after 8AM EST, but it then bounced back to $1172.72 by early afternoon in New York and ended with a loss of just 0.06%. Silver slipped to as low as $15.838 before it also rallied back higher and ended near its midday high of $16.17 with a gain of 0.44%.
Euro gold rose to about €1100, platinum gained $8 to $1121, and copper climbed 5 cents to about $2.66.
Gold and silver equities waffled near unchanged and ended mixed.
Current Account Balance
There are no major economic reports due out tomorrow.
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar bounced back from yesterday’s notable post-fed losses.
Treasuries held near unchanged as the Dow, Nasdaq, and S&P traded mixed on uncertainty about a data dependent fed.
Among the big names making news in the market today were Microsoft, Cliffs Natural, Tag Heuer, Target, GoDaddy, and Lennar.
“The Feds action yesterday and the subsequent market movements, came as no surprise. I’ve been noting how economic numbers outside the “fudged” monthly employment numbers, have signaled a dramatic slowdown underway. The rally after the news is just another seemingly automatic reaction of the drug addict getting another fix and the belief the junk will keep flowing forever.
It may come as a shock to most, but eventually the stock market does return to being what it was “originally” – A PLACE TO BUY AND SELL PART OWNERSHIPS IN BUSINESSES. And such a place ends up depending on economics, earnings and valuations. Speaking of valuations, 4th quarter earnings estimates are IMHO going to come down hard unless the “tooth-fairy” visits Wall & Broad. The only way equity prices can gain much further is through PE expansion and if anybody can tell me how the “Don’t Worry, Be Happy” crowd on Wall Street can achieve that – I’m all ears!
While I wouldn’t say the U.S Dollar has topped out, I do think its rally has seen the bulk of its gains. The Europeans still want a Euro at parity or lower and much of that is likely to depend on how fast and hard our economic slowdown takes hold.
I do think many commodities have seen their lows now; but oil’s supply versus demand is so overwhelming supply tilted that it shall likely still see the $30s before any meaningful bottom.” - Peter Grandich, http://moneytalks.net/peters-content.html
Hugo Salinas Price: Greece's currency options go beyond predatory euro and laughable drachma
Chinese banks won't be part of new gold benchmarking at start, source tells Reuters
Activity from: 3/18/2015
Gold Warehouse Stocks:
Silver Warehouse Stocks:
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
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
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
Australian Stock Exchange (ASX)
Gold Bullion Securities
Johannesburg Securities Exchange (JSE)
New Gold Debentures
Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.791 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,181.17: No change from yesterday’s data.
1. Endeavour Silver
EXK +9.57% $2.06
ASM +4.48% $1.40
3. MAG Silver
MVG +3.84% $6.49
FCX -5.32% $17.26
CDE -3.85% $4.99
PZG -3.77% $1.02
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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-- Published: Thursday, 19 March 2015 | E-Mail | Print | Source: GoldSeek.com