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Gold Seeker Closing Report: Gold and Silver End Slightly Lower but Miners Gain
By: Chris Mullen, Gold Seeker Report

 -- Published: Monday, 5 March 2018 | Print  | Disqus 



















JSE Gold































The Metals:


Gold gained $5.80 to $1327.70 in Asia before it dropped back to $1317.40 by midafternoon in New York, but it then bounced back higher in the last 2 hours of trade and ended with a loss of just 0.17%. Silver waffled between $16.597 and $16.36 and ended with a loss of 0.48%.


Euro gold fell to about €1070, platinum lost $5 to $958, and copper remained at about $3.11.


Gold and silver equities waffled near unchanged and ended with modest gains.


The Economy:


U.S. Service Industries Grow Near Fastest in at Least a Decade  Bloomberg

US Markit Feb services PMI 55.9 vs 55.9 exp  forexlive

As Congress moves to drop tariffs, some U.S. firms cry foul  Reuters


Tomorrow brings Factory Orders.


The Markets:


Oil rose over 2% on strong demand forecasts and supply disruptions in Libya.


The U.S. dollar index traded mostly slightly higher as the yen fell along with treasuries on easing worries about a possible trade war that sent the Dow, Nasdaq, and S&P over 1% higher.


Among the big names making news in the market today were United, Amazon, Broadcom-Qualcomm, Caterpillar, and Fidelity.


GATA Posts:



Ambrose Evans-Pritchard: Warnings of financial blowup in Hong Kong

Study finds increase in taxi trips between NY Fed and banks around FOMC meetings

A new theory about 'gold pukes': Banks desperate for dollar liquidity

U.S. dollar outlook darkens as trade war looms

New analysis sees return of trillion-dollar budget deficits

Dumping U.S. debt may become a weapon in global trade war


The Statistics:

As of close of business: 3/2/2018

Gold Warehouse Stocks:



Silver Warehouse Stocks:




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




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




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


COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.05: -0.06 change from yesterday’s data.


Silver Trust (SLV) Total Tonnes in Trust: 9,893.07: +45.99 change from yesterday’s data.


The Miners:


Freeport’s (FCX) redemption of senior notes and talks with Indonesia, Gold Resource’s (GORO) annual meeting of shareholders, and Almaden’s (AAU) board appointment were among the big stories in the gold and silver mining industry making headlines today.



1.  Sibanye

SBGL +5.61% $4.14


NG +3.87% $4.03

3.  Eldorado

EGO +3.64% $1.14



1.  Avino

ASM -3.85% $1.25

2.  B2Gold

BTG -3.33% $2.90

3.  Americas Silver

USAS -3.25% $3.50

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.


- Chris Mullen, Gold Seeker Report


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© Gold Seeker 2018

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