Gold Seeker Closing Report: Gold and Silver Erase Early Losses To End Near Unchanged
| Close | Gain/Loss |
Gold | $1323.70 | +$0.20 |
Silver | $16.55 | -$0.03 |
XAU | 79.67 | +0.98% |
HUI | 174.41 | +0.86% |
GDM | 607.04 | +0.60% |
JSE Gold | 1105.94 | -20.68 |
USD | 89.88 | -0.25 |
Euro | 123.42 | +0.34 |
Yen | 94.06 | +0.37 |
Oil | $61.36 | -$0.68 |
10-Year | 2.867% | -0.030 |
T-Bond | 144.75 | +0.59375 |
Dow | 25178.61 | -0.62% |
Nasdaq | 7588.32 | +0.36% |
S&P | 2783.02 | -0.13% |
The Metals:
Gold fell $9.10 to $1314.40 at about 8AM EST, but it then rallied back higher throughout most of trade in New York and ended with a gain of 0.015%. Silver slipped to as low as $16.438 and ended with a loss of 0.18%.
Euro gold fell to about EUR1073, platinum remained at $962, and copper dropped a penny to about $3.12.
Gold and silver equities saw slight losses for most of the morning, but they then climbed higher in afternoon trade and ended with gains of nearly 1%.
U.S. February budget report shows first sign of wider deficits to come MarketWatch
Bond Traders Haven't Been So Leery of U.S. Auctions Since the Crisis Bloomberg
U.S. inflation expectations rise: New York Fed survey Reuters
Commerce secretary to push EU to lower tariffs: Trump Reuters
The Markets:
Oil fell over 1% on concerns about rising US production after the EIA released a report forecasting more output from some of the bigger shale plays.
The U.S. dollar index drifted lower and treasuries rose on doubts the fed will be aggressive with their stance on interest rate hikes.
The Dow, Nasdaq, and S&P traded mixed on uncertainty about tariffs and inflation.
Among the big names making news in the market today were Broadcom, Dropbox, and Goldman Sachs.
GATA Posts:
Ralph Benko: Trade deficits are the price of issuing the world reserve currency
Ed Steer: Another very interesting CoT report
Alabama exempts gold and silver bullion and coins from sales tax
The Statistics:
As of close of business: 3/09/2018
Gold Warehouse Stocks: | 9,124,611.485 | - |
Silver Warehouse Stocks: | 252,110,032.514 | -173,610.01 |
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 | 833.730 | 26,805,241 | US$35,355m |
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$5,853m |
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$6,472m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$475m |
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: 9,893.07: No change from yesterday's data.
WINNERS
1. Gold Resource | GORO +4.59% $4.56 |
2. Tahoe Resources | TAHO +2.99% $4.82 |
3. Barrick | ABX +2.62% $12.13 |
LOSERS
1. Seabridge | SA -4.13% $10.45 |
2. Paramount | PZG -3.03% $1.28 |
3. Sibanye | SBGL -1.90% $4.12 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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