• Gold: 1,243.14 -2.73
  • Silver: 14.76 0.02
  • Euro: 1.136 -0.001
  • USDX: 97.111 0.067
  • Oil: 52.01 0.86

February 25: Gold and Silver Gain With Oil

Chris Mullen
|
Wednesday, February 25th
 

Close

Gain/Loss

Gold

$1204.60

+$4.40

Silver

$16.54

+$0.29

XAU

75.51

+2.07%

HUI

187.57

+1.91%

GDM

579.21

+2.06%

JSE Gold

1332.59

+0.42

USD

94.19

-0.26

Euro

113.64

+0.21

Yen

84.15

+0.10

Oil

$50.99

+$1.71

10-Year

1.969%

-0.019

Bond

147.03125

+0.875

Dow

18224.57

+0.08%

Nasdaq

4967.13

-0.02%

S&P

2113.86

-0.08%

 
 

The Metals:

 

Gold climbed $11.68 to $1211.88 in Asia before it fell back to $1201.17 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.37%. Silver rose to as high as $16.733 and ended with a gain of 1.79%.

 

Euro gold rose to about €1060, platinum gained $8 to $1168, and copper remained at about $2.64.

 

Gold and silver equities rose about 2% by late morning and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

New Home Sales

Jan

481K

470K

482K

 

U.S. mortgage applications fall in latest week: MBA Reuters

 

Tomorrow brings Initial Jobless Claims, CPI, Durable Goods Orders, and the FHFA Housing Price Index.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

“Crude oil futures rose on Wednesday after Saudi Arabia's oil minister said oil demand was growing and data showed Chinese factories were producing more than expected.”

 

The U.S. dollar remained weak on dovish fed expectations that sent treasuries higher.

 

The Dow, Nasdaq, and S&P waffled near unchanged in relatively quiet trade.

 

Among the big names making news in the market today were Warren Buffet, Walmart, Maersk, and Target.

 

GATA Posts:

 

 

King Report: Banks suspected of rigging gold likely do it for central banks

The disappeared: Chicago police detain Americans at abuse-laden 'black site'

BNY Mellon in settlement talks over forex fraud, sources tell Reuters

New York Sun: Janet Yellen's audit

 

The Statistics:

Activity from: 2/24/2015

Gold Warehouse Stocks:

8,337,403.742

+64,300.00

Silver Warehouse Stocks:

176,895,203.150

+504,045.49

 

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

771.249

24,796,426

US$29,862m

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$5,353m

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$8,004m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$432m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

38.40

1,234,459

US$1,506m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 166.88: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,131.48: No change from yesterday’s data.

 

The Miners:

 

Midway’s (MDW) joint venture with Barrick, Eurasian’s (EMXX) corporate update, and Vista Gold’s (VGZ) agency agreement were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Primero

PPP +5.15% $3.47

2. Agnico Eagle

AEM +5.14% $32.12

3. Avino

ASM +4.96% $1.48

LOSERS

1. SilverCrest

SVLC -1.63% $1.21

2. NovaGold

NG -1.34% $3.67

3. Rubicon

RBY -0.88% $1.12

Winners & Losers tracks NYSE and AMEX 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

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2015

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

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.

 

Your rating: None Average: 5 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map