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Gold Seeker Closing Report: Gold Ends Slightly Lower While Silver Gains Nearly 2%
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 17 March 2016 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1256.90

-$4.20

Silver

$15.90

+0.28$

XAU

70.92

-0.64%

HUI

180.66

-1.35%

GDM

572.54

-0.84%

JSE Gold

2198.76

+103.84

USD

94.77

-0.88

Euro

113.18

+0.97

Yen

89.73

+1.04

Oil

$40.20

+$1.74

10-Year

1.903%

-0.035

T-Bond

164.0625

+1.21875

Dow

17481.49

+0.90%

Nasdaq

4774.98

+0.23%

S&P

2040.59

+0.66%

 
 

 

The Metals:

 

Gold saw slight losses in Asia before it rose to as high as $1270.88 in London, but it then drifted back lower in New York and ended with a loss of 0.33%.  Silver surged to as high as $16.031 before it also edged back lower in the last few hours of trade, but it still ended with a gain of 1.79%.

 

Euro gold fell to about €1111, platinum gained $6 to $980, and copper climbed 4 cents to about $2.30.

 

Gold and silver equities rose over 3% by late morning, but they then fell back off for most of the rest of trade and ended with about 1% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/12

265K

266K

258K

Philadelphia Fed

Mar

12.4

-1.4

-2.8

Current Account Balance

Q4

-$125.3B

-$116.0B

-$129.9B

JOLTS - Job Openings

Jan

5.541M

-

5.281M

Leading Indicators

Feb

0.1%

0.2%

-0.2%

 

Yellen steers Fed with cautious hand, despite hints of inflation  Reuters

 

Tomorrow brings Michigan Sentiment for March expected at 92.2.

 

The Markets:

 

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

 

Oil gained over 4% as the U.S. dollar index dropped nearly 1% for the second day in a row in further reaction to yesterday’s revised fed forecast.

 

Treasuries rose along with the Dow, Nasdaq, and S&P on decent economic data and dovish fed policy.

 

Among the big names making news in the market today were FedEx, Johnson & Johnson, Exelon, FIFA, and VW.

 

GATA Posts:

 

 

Ronan Manly: Venezuela's gold keeps moving to Switzerland

 

The Statistics:

As of close of business: 3/16/2016

Gold Warehouse Stocks:

6,794,318.789

-

Silver Warehouse Stocks:

154,529,072.278

-922,262.25

 

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

795.199

25,566,437

US$32,374m

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$5,621m

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$6,206m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$454m

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 2.973 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,135.66: No change from yesterday’s data.

 

The Miners:

 

Barrick’s (ABX) Executive appointment and Silvercorp’s (SVM.TO) production update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +6.65% $10.90

2.  Avino

ASM +3.80% $1.09

3.  Turquoise

TRQ +3.51% $2.95

 

LOSERS

1.  Gold Fields

GFI -7.51% $3.94

2.  Eldorado

EGO -4.78% $3.39

3.  AngloGold

AU -4.60% $13.26

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 2016

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 -- Published: Thursday, 17 March 2016 | E-Mail  | Print  | Source: GoldSeek.com

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