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Gold Seeker Closing Report: Gold and Silver Hold Steady While Stocks Drop Again
By: Chris Mullen, Gold Seeker Report

 -- Published: Wednesday, 14 March 2018 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1325.20

-$0.60

Silver

$16.55

-$0.02

XAU

79.79

+0.11%

HUI

174.19

-0.04%

GDM

607.88

+0.17%

JSE Gold

1077.28

-12.85

USD

89.74

UNCH

Euro

123.67

-0.23

Yen

94.14

+0.26

Oil

$60.96

+$0.25

10-Year

2.817%

-0.030

T-Bond

145.875

+0.71875

Dow

24758.12

-1.00%

Nasdaq

7496.81

-0.19%

S&P

2749.48

-0.57%

 
http://www.goldseek.com/news/2018/2018-03-14_14-04-43.jpg

 

The Metals:

 

Gold gained $4.30 to $1330.10 in Asia before it fell back to $1321.60 in midmorning New York trade, but it then chopped back higher into the close and ended with a loss of just 0.045%. Silver sloshed between $16.654 and $16.501 and ended with a loss of 0.12%.

 

Euro gold rose to about €1071, platinum lost $3.50 to $959, and copper climbed a penny to about $3.14.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

U.S. business inventories rise; sales post largest drop in one-and-a-half years  Reuters

Rising services costs lift U.S. producer prices in February  Reuters

U.S. retail sales fall for third month in a row  MarketWatch

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, Empire State Manufacturing, Import and Export Prices, and the Housing Market Index.

 

The Markets:

 

Oil ended higher in mixed trade after the Energy Information Administration reported that crude inventories rose 5.0 million barrels, gasoline inventories fell 6.3 million barrels, and distillates fell 4.4 million barrels.

 

The U.S. dollar index ended unchanged while the euro fell on Draghi’s concern about subdued inflation.

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped as much as 1% on poor retail sales data and fed uncertainty.

 

Among the big names making news in the market today were Equifax, Broadcom, and Walmart.

 

GATA Posts:

 

 

Venezuela urged to save itself by becoming a U.S. colony

 

The Statistics:

As of close of business: 3/13/2018

Gold Warehouse Stocks:

9,124,611.485

-

Silver Warehouse Stocks:

253,703,395.472

+410,199.39

 

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

833.730

26,805,241

US$35,473m

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$5,881m

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$6,499m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$476m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.05: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: No change from yesterday’s data.

 

The Miners:

 

Seabridge Gold’s (SA) year-round camp prep work, Barrick’s (ABX) director nomination, ITH’s (THM) non-brokered private placement, and Silver Bull’s (SVBL) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Pretivm

PVG +3.19% $7.11

2.  Kinross

KGC +1.67% $3.65

3.  Barrick

ABX +1.15% $12.32

 

LOSERS

1.  Avino

ASM -5.22% $1.27

2.  Alexco

AXU -3.89% $1.36

3.  Gold Standard

GSV -3.55% $1.63

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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Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


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 -- Published: Wednesday, 14 March 2018 | E-Mail  | Print  | Source: GoldSeek.com

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