• Gold: 1,243.11 -2.76
  • Silver: 14.76 0.02
  • Euro: 1.136 -0.001
  • USDX: 97.119 0.075
  • Oil: 52.01 0.86

March 2: Gold and Silver End Slightly Lower on the Week

Chris Mullen
|
Friday, March 2nd

 

Close

Gain/Loss

On Week

Gold

$1321.90

+$6.60

-0.56%

Silver

$16.51

+$0.02

-0.06%

XAU

78.75

-0.23%

-2.21%

HUI

172.99

-0.16%

-2.11%

GDM

601.93

+0.02%

-1.94%

JSE Gold

1107.57

+41.26

+1.65%

USD

89.94

-0.33

+0.02%

Euro

123.28

+0.62

+0.24%

Yen

94.66

+0.42

+0.95%

Oil

$61.25

+$0.26

-3.62%

10-Year

2.860%

+0.053

-0.24%

Bond

144.3125

-1.03125

+0.13%

Dow

24538.06

-0.29%

-3.05%

Nasdaq

7257.87

+1.08%

-1.08%

S&P

2691.25

+0.51%

-2.04%

 
http://www.goldseek.com/news/2018/2018-03-02_14-04-42.jpg

 

The Metals:

 

Gold rose $10 to $1325.30 at about 9AM EST before it nearly erased that advance in the next few hours, but it then bounced back higher in afternoon trade and ended with a gain of 0.5%. Silver rose to as high as $16.573 and ended with a gain of 0.12%.

 

Euro gold fell to about €1072, platinum lost $1 to $963, and copper remained at about $3.11.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

U.S. Consumer Sentiment at Second-Highest Level Since 2004  Bloomberg

Trump defiant after criticism of steel and aluminum tariffs  Reuters

Trump’s tariffs mean higher prices — and maybe even beer in plastic bags  MarketWatch

 

The Markets:

 

Oil edged higher after “Baker Hughes said the number of rigs drilling for U.S. crude rose by one unit to 800 this week.”

 

The U.S. dollar index continued to fall on concerns over a global trade war.

 

Treasuries dropped as the Dow, Nasdaq, and S&P reversed notable morning losses and ended mixed on hopes that trade tensions will not escalate any further.

 

Among the big names making news in the market Friday were Delta, McDonald's, Bitcoin, and Schlumberger.

 

GATA Posts:

 

 

GoldCore's executives note government manipulation of gold market

Texas endowment to review $1 billion gold position, new CEO says

Only stupid, naive, or complicit can deny gold market rigging now, Embry says

 

The Statistics:

Activity from: 3/1/2018

Gold Warehouse Stocks:

9,133,645.713

-

Silver Warehouse Stocks:

252,002,018.723

-619,867.99

 

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

833.984

26,813,431

US$35,444m

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$5,862m

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$6,479m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.95 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.11: -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.  Nevsun

NSU +4.09% $2.29

2.  Paramount

PZG +4.03% $1.29

3.  Avino

ASM +3.17% $1.30

 

LOSERS

1.  Taseko

TGB -7.91% $1.28

2.  Great Panther

GPL -4.13% $1.16

3.  NOVAGOLD

NG -3.24% $3.88

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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