• Gold: 1,268.36 3.39
  • Silver: 17.22 -0.07
  • Euro: 1.089 0.002
  • USDX: 99.046 -0.03
  • Oil: 49.1 -0.21

March 14: Gold and Silver End Lower Before Fed Day

Chris Mullen
|
Tuesday, March 14th
 

Close

Gain/Loss

Gold

$1198.70

-$5.90

Silver

$16.88

-$0.09

XAU

78.01

-2.97%

HUI

182.96

-2.62%

GDM

597.54

-2.38%

JSE Gold

1250.63

+30.09

USD

101.74

+0.37

Euro

106.06

-0.50

Yen

87.15

+0.05

Oil

$47.72

-$0.68

10-Year

2.598%

-0.019

T-Bond

146.78125

+0.40625

Dow

20837.37

-0.21%

Nasdaq

5856.82

-0.32%

S&P

2365.45

-0.34%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-14gsr/1.jpg

The Metals:

 

Gold fell $4 to $1200.60 in Asia before it bounced back to $1207.60 in late morning New York trade, but it then drifted back lower into the close and ended with a loss of 0.49%. Silver slipped to as low as $16.866 and ended with a loss of 0.53%.

 

Euro gold fell to about €1130, platinum lost $3 to $935, and copper climbed a couple of cents to about $2.65.

 

Gold and silver equities saw roughly 1% gains about an hour into trade, but they then fell to see over 2% losses by midafternoon and remained near that level for the rest of the day.

The Economy:

 

Report

For

Reading

Expected

Previous

PPI

Feb

0.3%

0.1%

0.6%

Core PPI

Feb

0.3%

0.2%

0.4%

 

Fed, in shift, may move to faster pace of rate hikes Reuters

Fed meeting to go ahead despite winter storm MarketWatch

 

Tomorrow brings Retail Sales, Empire Manufacturing, Business Inventories, the NAHB Housing Market Index, a FOMC Rate Decision, and Net Long-Term TIC Flows.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-14gsr/1.png

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

 

Oil fell 1.4% after it was announced that “Saudi Arabia raised its production back above 10 million barrels a day.”

 

The U.S. dollar index saw decent gains as the pound tumbled “after U.K. Prime Minister Theresa May was given the go-ahead to trigger Brexit.”

 

Treasuries rose as the Dow, Nasdaq, and S&P dropped on concerns about oil and interest rates.

 

Among the big names making news in the market today were Lukoil, VW, Snapchat, Neiman Marcus, Yahoo, MoneyGram, Oracle, and Valeant.

 

GATA Posts:

 

 

Join GATA at metal writers conference in Vancouver in May

Solving the secret behind the Chinese gold market

 

The Statistics:

As of close of business: 3/13/2017

Gold Warehouse Stocks:

8,941,772.867

+48,407.66

Silver Warehouse Stocks:

188,460,899.360

+1,722,062.32

 

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

832.027

26,750,505

US$32,219m

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$5,350m

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$5,914m

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 added 6.811 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.92: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,268.39: No change from yesterday’s data.

 

The Miners:

 

WINNER

1. Taseko

TGB +0.76% $1.32

LOSERS

1. Northern Dynasty

NAK -10.0% $1.08

2. Gold Resource

GORO -9.19% $4.15

3. McEwen

MUX -9.15% $2.98

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

© Gold Seeker 2017

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