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Gold Seeker Closing Report: Gold and Silver Edge Lower While Stocks Climb With Dollar
By: Chris Mullen, Gold-Seeker.com

 -- Published: Thursday, 30 March 2017 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1244.50

-$8.50

Silver

$18.12

-$0.10

XAU

83.27

-0.99%

HUI

196.42

-1.73%

GDM

628.95

-1.37%

JSE Gold

1330.41

-46.32

USD

100.52

+0.62

Euro

106.84

-0.86

Yen

89.46

-0.61

Oil

$50.35

+$0.84

10-Year

2.420%

+0.038

T-Bond

150.4375

-0.78125

Dow

20728.49

+0.33%

Nasdaq

5914.34

+0.28%

S&P

2368.06

+0.29%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-30gsr/1.jpg

 

The Metals:

 

Gold drifted lower throughout most of word trade and ended near its late session low of $1243.20 with a loss of 0.68%.  Silver dropped down to $18.053 at about 9AM EST before it bounced back to $18.281 in late morning trade, but it then fell back off into the close and ended with a loss of 0.55%.

 

Euro gold rose to about €1065, platinum lost $4 to $947, and copper remained at about $2.69.

 

Gold and silver equities fell a little over 1% by early afternoon and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/25

258K

245K

261K

GDP

Q4

2.1%

2.0%

1.9%

GDP Deflator

Q4

2.0%

2.0%

2.0%

 

CBO says U.S. debt to reach 150 percent of GDP in 30 years Reuters

 

Tomorrow brings Personal Income and Spending, Chicago PMI, and Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-30gsr/1.png

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

 

Oil gained almost 2% “after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.”

 

The U.S. dollar index rose and treasuries fell on better than expected GDP data that sent the Dow, Nasdaq, and S&P higher.

 

Among the big names making news in the market today were Samsung, Volkswagen, ConocoPhillips, First Solar, CIBC, TD, Lululemon, BlackRock, Toyota, and Valeant.

 

GATA Posts:

 

 

Founder of Germany's 'Repatriate Our Gold' campaign has good chance for parliament

Persson and Manly: What sets the gold price -- the paper market or the physical one?

 

The Statistics:

As of close of business: 3/29/2017

Gold Warehouse Stocks:

9,013,568.285

+37,122.20

Silver Warehouse Stocks:

189,983,830.565

-1,418,377.213

 

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

833.508

26,798,117

US$33,455m

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$5,548m

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$6,129m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$446m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.96: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,291.97: -85.41 change from yesterday’s data.

 

The Miners:

 

Golden Star’s (GSS) financing facility and Richmont’s (RIC) exploration update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +4.64% $13.31

2.  Kinross

KGC +0.29% $3.48

3.  Hecla

HL +0.19% $5.19

 

LOSERS

1.  Exeter

XRA -7.30% $1.65

2.  Seabridge

SA -7.20% $10.95

3.  Almaden

AAU -4.91% $1.07

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 2017

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 -- Published: Thursday, 30 March 2017 | E-Mail  | Print  | Source: GoldSeek.com

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