• Gold: 1,267.23 2.26
  • Silver: 17.22 -0.07
  • Euro: 1.090 0.002
  • USDX: 99.045 -0.031
  • Oil: 48.93 -0.38

March 16: Gold and Silver Gain Again

Chris Mullen
|
Thursday, March 16th
 

Close

Gain/Loss

Gold

$1226.30

+$6.30

Silver

$17.32

+$0.01

XAU

83.25

-0.60%

HUI

196.00

-0.61%

GDM

633.39

-0.14%

JSE Gold

1318.27

+91.13

USD

100.26

-0.40

Euro

107.69

+0.34

Yen

88.31

+0.07

Oil

$48.75

-$0.11

10-Year

2.531%

+0.029

T-Bond

147.71875

-0.5625

Dow

20934.55

-0.07%

Nasdaq

5900.76

+0.01%

S&P

2381.38

-0.16%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-16gsr/1.jpg

The Metals:

 

Gold gained $8.80 to $1228.80 in Asia before it dropped back to $1223.40 in London, but it then climbed to a new session high of $1233.40 in New York and ended with a gain of 0.52%. Silver rose to as high as $17.551 before it fell back to $17.244 in early afternoon New York trade, but it then bounced back higher into the close and ended with a gain of 0.06%.

 

Euro gold rose to about €1139, platinum gained $2.75 to $954, and copper climbed a couple of cents to about $2.69.

 

Gold and silver equities opened up over 2% higher before they fell to see about 1% losses by midmorning, but they then chopped back higher at times and ended near unchanged on the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/11

241K

242K

243K

Housing Starts

Feb

1288K

1260K

1251K

Building Permits

Feb

1213K

1251K

1293K

Philadelphia Fed

Mar

32.8

25.0

43.3

JOLTS - Job Openings

Jan

5.626M

-

5.539M

 

Trump puts the skinny in his 'skinny budget' Reuters

Tomorrow brings Industrial Production, Capacity Utilization, Leading Indicators, and Michigan Sentiment.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-16gsr/1.png

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

 

Oil saw slight losses in mixed trade after yesterday’s stockpile drop was offset by expectations for rising US output.

 

The U.S. dollar index fell in continued reaction to yesterday’s dovish fed statement.

 

Treasuries followed U.K. bonds down after the Bank of England held interest rates unchanged at 0.25%, but drew one vote in favor of a hike.

 

The Dow, Nasdaq, and S&P traded mostly lower on uncertainty over whether or not recent central bank moves can continue in the same direction in the future.

 

Among the big names making news in the market today were Peabody, HSBC, Tyson, Tesla, Oracle, GoPro, and Dollar General.

 

GATA Posts:

 

 

ICE to launch London gold clearing before banks are ready

Nobel Prize winner Sir Fraser Stoddart hopes to turn gold mines green

Stewart Dougherty: Gold and silver manipulation is biggest financial crime in history

 

The Statistics:

As of close of business: 3/15/2017

Gold Warehouse Stocks:

8,935,490.290

-6,121.827

Silver Warehouse Stocks:

188,465,155.870

-

 

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

839.431

26,988,545

US$33,173m

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$5,460m

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$6,031m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$440m

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 4.442 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.22: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,303.74: No change from yesterday’s data.

 

The Miners:

 

Comstock’s (LODE) upcoming presentation, B2Gold’s (BTG) 2016 results, and Endeavour Silver’s (EXK) exploration drilling were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Paramount

PZG +3.61% $1.72

2. Avino

ASM +2.86% $1.87

3. Yamana

AUY +2.17% $2.83

LOSERS

1. Endeavour Silver

EXK -4.37% $3.28

2. Newmont

NEM-3.78% $32.81

3. Harmony

HMY -3.23% $2.40

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

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.

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