Gold Seeker Closing Report: Gold and Silver Waffle Near Unchanged While Stocks Drop Again
| Close | Gain/Loss |
Gold | $1317.60 | -$1.00 |
Silver | $16.39 | -$0.03 |
XAU | 78.27 | -0.89% |
HUI | 171.87 | -0.69% |
GDM | 597.17 | -1.04% |
JSE Gold | 1068.95 | -14.91 |
USD | 90.63 | +0.23 |
Euro | 122.00 | -0.33 |
Yen | 93.83 | +0.56 |
Oil | $61.64 | -$1.37 |
10-Year | 2.862% | -0.039 |
T-Bond | 144.50 | +0.9375 |
Dow | 25029.20 | -1.50% |
Nasdaq | 7273.01 | -0.78% |
S&P | 2713.83 | -1.11% |
The Metals:
Gold chopped in a relatively tight range of $1322.40 to $1316.00 and ended with a loss of just 0.08%. Silver rose to as high as $16.503 and ended with a loss of 0.18%.
Euro gold rose to about EUR1080, platinum gained $2 to $982, and copper fell 4 cents to about $3.11.
Gold and silver equities traded slightly higher for most of the morning, but they then drifted back lower into the close and ended with modest losses.
Nationwide weakness: Pending home sales drop 4.7 percent in January CNBC
Chicago PMI slips to six-month low in February MarketWatch
U.S. Fourth-Quarter Growth Revised Down to 2.5% Annual Pace Bloomberg
The Markets:
Oil fell over 2% after the Energy Information Administration reported that crude inventories rose 3.0 million barrels, gasoline inventories rose 2.5 million barrels, and distillates fell 1.0 million barrels.
The U.S. dollar index continued to find gains on Powell's optimistic economic outlook.
Treasuries traded mostly higher on poor economic data and month-end buying.
The Dow, Nasdaq, and S&P dropped roughly 1% by the close on wariness over oil's decline.
Among the big names making news in the market today were Morgan Stanley, Comcast, Herbalife, Lowe's, Bayer, Ring, and Dick's Sporting Goods.
GATA Posts:
Stephen Leeb: The gold-based monetary system is on its way
The Statistics:
As of close of business: 2/27/2018
Gold Warehouse Stocks: | 9,132,857.478 | - |
Silver Warehouse Stocks: | 251,320,037.013 | +2,838,152.68 |
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 | 831.034 | 26,718,580 | US$35,200m |
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$5,861m |
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$6,476m |
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: 266.00: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,847.08: No change from yesterday's data.
IAMGOLD's (IAG) drill results and Buenaventura's (BVN) 2017 results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Tahoe Resources | TAHO +4.05% $4.88 |
2. Turquoise | TRQ +3.77% $3.03 |
3. Gold Fields | GFI +1.82% $3.92 |
LOSERS
1. Taseko | TGB-11.96%$1.215 |
2. Alexco | AXU -5.11% $1.30 |
3. Coeur | CDE -4.85% $7.65 |
Winners & Losers tracks NYSE 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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