-- Published: Thursday, 10 March 2016 | Print | Disqus
| Close | Gain/Loss |
Gold | $1270.80 | +$19.40 |
Silver | $15.56 | +$0.29 |
XAU | 69.27 | +4.01% |
HUI | 178.98 | +3.72% |
GDM | 562.87 | +3.17% |
JSE Gold | 2081.14 | +109.83 |
USD | 96.21 | -0.96 |
Euro | 111.78 | +1.78 |
Yen | 88.37 | +0.17 |
Oil | $37.84 | -$0.45 |
10-Year | 1.929% | +0.037 |
T-Bond | 163.75 | -0.4375 |
Dow | 16995.13 | -0.03% |
Nasdaq | 4662.15 | -0.26% |
S&P | 1989.57 | +0.02% |
The Metals:
Gold dropped $11.87 to $1239.53 just after 8AM EST, but it then rallied back higher for most of trade in New York and ended with a gain of 1.55%. Silver climbed to as high as $15.631 and ended with a gain of 1.90%.
Euro gold remained at about €1137, platinum gained $2 to $976, and copper fell slightly to about $2.22.
Gold and silver equities rose about 4% by early afternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 3/05 | 259K | 275K | 277K |
Treasury Budget | Feb | -$192.6B | - | -$192.4B |
Tomorrow brings Import and Export Prices.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil pared early losses but still ended over 1% lower “as doubts emerged over a potential meeting this month between crude producers regarding a freeze in output.”
The U.S. dollar index initially jumped over 1% higher after the ECB announced a larger stimulus package than most were expecting, but it then dove back lower and ended with a significant loss as the euro rose to see nearly 2% gains after Draghi “said he did not anticipate more interest rate cuts to revive a sluggish euro zone economy.”
Treasuries fell on Draghi’s effort to call a bottom for interest rates.
The Dow, Nasdaq, and S&P traded notably lower at times but ultimately ended near unchanged on uncertainty over central bank policy.
Among the big names making news in the market today were Microsoft, Apple, Valeant, BHP, and Teva.
GATA Posts:
Alasdair Macleod: Gold is the only sound money
ECB cuts rates, increases asset buys more than expected
Why poor man's gold may be about to get more investor love
Indian government calls meeting on gold monetization scheme's lack of success
New Gold hedges nearly all its remaining 2016 gold output
The Statistics:
As of close of business: 3/9/2016
Gold Warehouse Stocks: | 6,815,508.889 | -1,581.656 |
Silver Warehouse Stocks: | 155,082,382.878 | +1,665,318.80 |
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 | 792.820 | 25,489,955 | US$32,279m |
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$5,627m |
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$6,210m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$455m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 32.00 | 1,028,856 | US$1,282m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.081 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.52: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,035.00: No change from yesterday’s data.
The Miners:
Lake Shore’s (LSG) annual resource and reserve update, Barrick’s (ABX) accusations of negligence in Argentina, Nevsun’s (NSU) dividend, Kirkland’s (KGI.TO) 2015 results, Avino’s (ASM) public offering, and Tahoe’s (TAHO) dividend were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Endeavour Silver | EXK +18.7% $2.73 |
2. MAG Silver | MVG +8.01% $8.90 |
3. First Majestic | AG +7.89% $5.74 |
LOSERS
1. Silver Standard | SSRI -1.02% $5.80 |
2. DRDGOLD | DRD -0.51% $3.89 |
3. Alamos Gold | AGI -0.19% $5.17 |
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, 10 March 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Nearly 2%
