• Gold: 1,275.55 -9.35
  • Silver: 17.88 -0.07
  • Euro: 1.086 0.016
  • USDX: 99.14 -0.837
  • Oil: 49.21 -0.47

March 17: Gold and Silver Gain 2% on the Week

Chris Mullen
|
Friday, March 17th
 

Close

Gain/Loss

On Week

Gold

$1228.80

+$2.50

+2.03%

Silver

$17.38

+$0.06

+2.00%

XAU

82.55

-0.85%

+3.45%

HUI

195.47

-0.27%

+5.29%

GDM

630.18

-0.51%

+4.52%

JSE Gold

1308.00

-10.27

+10.08%

USD

100.30

+0.04

-0.97%

Euro

107.36

-0.33

+0.44%

Yen

88.73

+0.42

+1.80%

Oil

$48.78

+$0.03

+0.60%

10-Year

2.500%

-0.031

-3.03%

Bond

148.46875

+0.59375

+1.11%

Dow

20914.62

-0.10%

+0.06%

Nasdaq

5901.00

+0.00%

+0.67%

S&P

2378.25

-0.13%

+0.24%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-17gsr/1.jpg

The Metals:

 

Gold chopped up to $1231.50 at about 10AM EST before it drifted back lower at times, but it still ended with a gain of 0.2%. Silver rose to as high as $17.412 and ended with a gain of 0.35%.

 

Euro gold rose to about €114, platinum gained $6 to $960, and copper climbed a penny to about $2.70.

 

Gold and silver equities rose over 1% in the first half hour of trade before they fell to see roughly 1% losses by midmorning and then bounced back higher at times, but they still ended with modest losses on the day.

The Economy:

 

Report

For

Reading

Expected

Previous

Industrial Production

Feb

0.0%

0.2%

-0.1%

Capacity Utilization

Feb

75.4%

75.4%

75.5%

Leading Indicators

Feb

0.6%

0.5%

0.6%

Michigan Sentiment

Mar

97.6

96.8

96.3

 

Fed's Kashkari saw no need to raise interest rates this week as inflation remains tame MarketWatch

 

All of this week’s other economic reports:

 

JOLTS - Job Openings - January

5.626M v. 5.539M

Philadelphia Fed - March

32.8 v. 43.3

Housing Starts - February

1288K v. 1251K

Building Permits - February

1213K v. 1293K

Initial Claims - 3/11

241K v. 243K

Business Inventories - January

0.3% v. 0.4%

NAHB Housing Market Index - March

71 v. 65

Empire Manufacturing - March

16.4 v. 18.7

Retail Sales - February

0.1% v. 0.6%

Retail Sales ex-auto - February

0.2% v. 1.2%

CPI - February

0.1% v. 0.6%

Core CPI - February

0.2% v. 0.3%

PPI - February

0.3% v. 0.6%

Core PPI - February

0.3% v. 0.4%

 

Next week’s economic highlights include the Current Account Balance on Tuesday, the FHFA Housing Price Index and Existing Home Sales on Wednesday, Initial Jobless Claims and New Home Sales on Thursday, and Durable Goods Orders on Friday.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-17gsr/1.png

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

 

Oil closed with a small gain on mixed signals about future production levels.

 

The U.S. dollar index edged higher as the euro fell on political uncertainty.

 

Treasuries saw decent gains on the outlook for an unaggressive fed.

 

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

 

Among the big names making news in the market Friday were Tiffany, Toshiba, MuleSoft, and Gordmans.

 

The Statistics:

Activity from: 3/16/2017

Gold Warehouse Stocks:

8,935,490.290

-

Silver Warehouse Stocks:

188,261,067.881

-204,087.989

 

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

837.062

26,912,373

US$33,085m

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$5,455m

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$6,029m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$441m

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 2.369 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.82: +0.60 change from yesterday’s data.

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

 

The Miners:

 

WINNERS

1. Northern Dynasty

NAK +9.76% $1.35

2. Alamos Gold

AGI +6.90% $8.21

3. Pretivm

PVG +4.27% $10.75

LOSERS

1. NovaGold

NG -8.24% $5.01

2. DRDGOLD

DRD -8.21% $5.03

3. McEwen

MUX -7.51% $3.08

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 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.

 

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map