Gold Seeker Closing Report: Gold and Silver End Slightly Lower but Miners Gain
| Close | Gain/Loss |
Gold | $1319.60 | -$2.30 |
Silver | $16.43 | -$0.08 |
XAU | 79.10 | +0.44% |
HUI | 174.35 | +0.78% |
GDM | 603.42 | +0.25% |
JSE Gold | 1108.17 | +0.60 |
USD | 90.00 | +0.06 |
Euro | 123.36 | +0.08 |
Yen | 94.25 | -0.41 |
Oil | $62.57 | +$1.32 |
10-Year | 2.884% | +0.024 |
T-Bond | 143.96875 | -0.46875 |
Dow | 24874.76 | +1.37% |
Nasdaq | 7330.70 | +1.00% |
S&P | 2720.94 | +1.10% |
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 EUR1070, platinum lost $5 to $958, and copper remained at about $3.11.
Gold and silver equities waffled near unchanged and ended with modest gains.
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: | 9,133,645.713 | - |
Silver Warehouse Stocks: | 251,779,501.180 | -222,517.543 |
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(R) Gold Shares | 833.984 | 26,813,431 | US$35,392m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,867m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,483m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$473m |
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.
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.
WINNERS
1. Sibanye | SBGL +5.61% $4.14 |
2. NOVAGOLD | NG +3.87% $4.03 |
3. Eldorado | EGO +3.64% $1.14 |
LOSERS
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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