• Gold: 1,222.10 -0.74
  • Silver: 14.57 0.00
  • Euro: 1.147 0.000
  • USDX: 96.023 0.312
  • Oil: 69.43 -0.2

February 27: Gold and Silver Fall Over 1% With Stocks and Oil

Chris Mullen
|
Tuesday, February 27th

 

Close

Gain/Loss

Gold

$1318.60

-$14.60

Silver

$16.42

-$0.21

XAU

78.97

-2.82%

HUI

173.05

-2.83%

GDM

603.45

-2.01%

JSE Gold

1083.86

-20.56

USD

90.40

+0.55

Euro

122.33

-0.87

Yen

93.27

-0.37

Oil

$63.01

-$0.90

10-Year

2.901%

+0.038

T-Bond

143.6875

-0.53125

Dow

25410.03

-1.16%

Nasdaq

7330.35

-1.23%

S&P

2744.28

-1.27%

 
http://www.goldseek.com/news/2018/2018-02-27_14-28-23.jpg

 

The Metals:

 

Gold edged up to $1334.70 in Asia, but it then fell all of the way back to $1313.50 in early afternoon New York trade and ended with a loss of 1.095%. Silver slipped to as low as $16.331 and ended with a loss of 1.26%.

 

Euro gold fell to about €1078, platinum lost $17 to $980, and copper fell 5 cents to about $3.15.

 

Gold and silver equities lost over 2% by midmorning and remained near that level for the rest of the day.

 

The Economy:

 

Fed's Powell nods to 'gradual' rate hikes, close eye on inflation  Reuters

Powell Sees Gradual Rate Hikes Amid Strong U.S. Growth Outlook  Bloomberg

U.S. Consumer Confidence Is at 17-Year High  Bloomberg

US advanced goods trade balance -74.4B vs -72.3B expected  forexlive

US FHFA Dec house price index 0.3% vs 0.4% prev  forexlive

Home prices accelerated in December, Case-Shiller shows  MarketWatch

Orders for U.S. Business Equipment Unexpectedly Fell in January  Bloomberg

 

Tomorrow brings GDP, Chicago PMI, and Pending Home Sales.

 

The Markets:

 

Oil dropped over 1% as the U.S. dollar index rose and treasuries fell along with the Dow, Nasdaq, and S&P on Powell’s commitment to a gradual approach towards raising interest rates.

 

Among the big names making news in the market today were Disney, Google, GE, JPMorgan, Macy’s, and Comcast.

 

GATA Posts:

 

 

Scotiabank won't sell metals business after all

Hong Kong exchange wants gold trading corridor along 'Belt and Road'

Silver deeply in backwardation and on verge of breakout, Turk tells KWN

 

The Statistics:

As of close of business: 2/26/2018

Gold Warehouse Stocks:

9,132,854.478

-

Silver Warehouse Stocks:

248,481,884.333

+1,437,041.28

 

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

831.034

26,718,580

US$35,412m

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$5,847m

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$6,464m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$473m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.77 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 266.00: +0.89 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,847.08: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Avino

ASM +2.36% $1.30

2.  Turquoise

TRQ +1.74% $2.92

 

LOSERS

1.  Taseko

TGB -12.1% $1.38

2.  Paramount

PZG -5.88% $1.28

3.  Gold Resource

GORO-5.78% $4.24

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

© Gold Seeker 2018

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