• Gold: 1,297.15 0.00
  • Silver: 16.97 -0.01
  • Euro: 1.195 0.000
  • USDX: 92.171 0.172
  • Oil: 50.74 0.03

March 10: Gold and Silver Fall About 2% and 5% on the Week

Chris Mullen
|
Friday, March 10th
 

Close

Gain/Loss

On Week

Gold

$1204.40

+$2.50

-2.43%

Silver

$17.04

+$0.07

-4.96%

XAU

79.80

+2.71%

-2.85%

HUI

186.65

+2.89%

-3.12%

GDM

602.90

+2.32%

-2.57%

JSE Gold

1188.26

-28.89

-6.71%

USD

101.28

-0.66

-0.10%

Euro

106.89

+1.06

+0.62%

Yen

87.16

+0.14

-0.62%

Oil

$48.49

-$0.79

-9.08%

10-Year

2.578%

-0.020

+3.87%

Bond

146.84375

+0.3125

-2.57%

Dow

20902.98

+0.21%

-0.49%

Nasdaq

5861.73

+0.39%

-0.15%

S&P

2372.60

+0.33%

-0.44%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-10gsr/1.jpg

 

The Metals:

 

Gold fell $6.90 to $1195.00 in Asia before it jumped up to $1206.30 at about 9AM EST and then drifted back below $1200 in the next few hours of trade, but it then rallied back higher into the close and ended with a gain of 0.21%. Silver rose to as high as $17.079 and ended with a gain of 0.41%.

 

Euro gold fell to about €1127, platinum gained $6 to $938, and copper climbed a couple of cents to about $2.60.

 

Gold and silver equities saw steady gains in afternoon trade and ended almost 3% higher on the day.

 

SEC Rejects Winklevoss Bitcoin ETF, Sending Price Tumbling

The SEC just handed Bitcoin a huge setback

U.S. SEC rejects application to list Bitcoin ETF

Bitcoin Plummets Back Below $1000 – View The Live Price Chart

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Feb

235K

188K

238K

Unemployment Rate

Feb

4.7%

4.7%

4.8%

Hourly Earnings

Feb

0.2%

0.2%

0.2%

Average Workweek

Feb

34.4

34.4

34.4

Treasury Budget

Feb

-$192.0B

-

-$192.6B

 

The BLS net birth/death adjustment added 124,000 payrolls to February’s data. Private Payrolls rose 227,000.

 

Traders keep bets on three Fed rate hikes in 2017 Reuters

 

All of this week’s other economic reports:

 

Import Prices - February

0.2% v. 0.6%

 

Import Prices ex-oil - February

0.3% v. -0.1%

 

Export Prices - February

0.3% v. 0.2%

 

Export Prices ex-ag. - February

0.3% v. 0.2%

 

Initial Claims - 3/04

243K v. 223K

 

Wholesale Inventories - January

-0.2% v. 1.0%

 

Productivity - Q4

1.3% v. 1.3%

 

Unit Labor Costs - Q4

1.7% v. 1.7%

 

ADP Employment - February

298K v. 261K

 

Trade Balance - January

-$48.5B v. -$44.3B

 

Factory Orders - January

1.2% v. 1.3%

 

Next week’s economic highlights include PPI on Tuesday, CPI, Retail Sales, Empire Manufacturing, Business Inventories, the NAHB Housing Market Index, a FOMC Rate Decision, and Net Long-Term TIC Flows on Wednesday, Initial Jobless Claims, Housing Starts, Building Permits, and the Philadelphia Fed on Thursday, and Industrial Production, Capacity Utilization, Leading Indicators, and Michigan Sentiment on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-10gsr/1.png

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

 

Oil fell almost 2% more on continued concerns about a supply glut.

 

The U.S. dollar index dropped as the euro climbed higher on talk of an interest rate increase by the ECB.

 

Treasuries rose along with the Dow, Nasdaq, and S&P after today’s jobs data did not alter expectations for a fed interest rate hike next week.

 

Among the big names making news in the market Friday were Volkswagen, Facebook, Southwest, and Airbnb.

 

GATA Posts:

 

 

Indian government mobilizes 6.4 tonnes of gold under paperization scheme

GoldSeek Radio interviews GATA Chairman Bill Murphy

 

The Statistics:

Activity from: 3/9/2017

Gold Warehouse Stocks:

8,893,365.207

-399.015

Silver Warehouse Stocks:

186,736,838.140

-596,972.46

 

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

834.101

26,817,167

US$32,248m

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$5,325m

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$5,889m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$432m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.665 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.22: -0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,268.39: -35.35 change from yesterday’s data.

 

The Miners:

 

New Gold’s (NGD) closed financing and Gold Fields’ (GFI) likely drop in output at South Deep were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1. Endeavour Silver

EXK +9.86% $3.12

2. Gold Resource

GORO +9.31% $4.58

3. New Gold

NGD +7.81% $2.90


LOSERS

1. Tahoe Resource

TAHO-7.55% $7.35

2. Northern Dynasty

NAK -3.25% $1.19

3. Paramount

PZG -0.60% $1.65

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

 

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© Gold Seeker 2017

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

 

 

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