• Gold: 1,248.21 -0.20
  • Silver: 14.57 -0.06
  • Euro: 1.138 -0.003
  • USDX: 96.514 -0.268
  • Oil: 52.13 0.41

March 20: Gold and Silver Fall Before Fed Day

Chris Mullen
|
Tuesday, March 20th

 

Close

Gain/Loss

Gold

$1310.40

-$6.40

Silver

$16.20

-$0.13

XAU

78.13

-0.68%

HUI

169.21

-1.11%

GDM

594.85

-0.78%

JSE Gold

1066.77

+5.10

USD

90.41

+0.54

Euro

122.46

-0.92

Yen

94.08

-0.15

Oil

$63.40

+$1.34

10-Year

2.887%

+0.035

T-Bond

144.8125

-0.71875

Dow

24727.27

+0.47%

Nasdaq

7364.30

+0.27%

S&P

2716.94

+0.15%

 
http://www.goldseek.com/news/2018/2018-03-20_14-02-30.jpg

 

The Metals:

 

Gold fell $9.60 to $1307.20 at about 10:30AM EST before it climbed back higher into midday, but it still ended with a loss of 0.49%. Silver slipped to as low as $16.116 and ended with a loss of 0.80%.

 

Euro gold rose to about €1070, platinum lost $10 to $941, and copper dropped 4 cents to about $3.03.

 

Gold and silver equities fell roughly 1% in the first hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Fed Seen Sticking With Three 2018 Rate Hikes, May Hint at Fourth  Bloomberg

This bullish economic news is a warning for the stock market  MarketWatch

The Fed easily could make stocks spring higher, says J.P. Morgan  MarketWatch

 

Tomorrow brings Existing Home Sales and a FOMC Meeting Announcement and Press Conference.

 

The Markets:

 

Oil gained over 2% on concerns about rising tensions between Saudi Arabia and Iran.

 

The U.S. dollar index rose and treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher ahead of tomorrow’s fed announcement.

 

Among the big names making news in the market today were Google, General Dynamics, Toys ‘R’ Us, and Facebook.

 

GATA Posts:

 

 

Ted Butler: Bear Stearns -- a different opinion

 

The Statistics:

As of close of business: 3/19/2018

Gold Warehouse Stocks:

9,060,591.220

-9,840.61

Silver Warehouse Stocks:

257,451,421.943

+594,068.841

 

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

850.838

27,355,277

US$35,855m

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$5,822m

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$6,435m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$470m

 Note: Change in Total Tonnes from yesterday’s data: SPDR added 10.619 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.04: +4.00 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,942.90: +20.51 change from yesterday’s data.

 

The Miners:

 

B2Gold’s (BTG) legal standing in Mali and Polyus’ (PLZL) expanding output in Russia were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sandstorm

SAND +3.59% $4.62

2.  Great Panther

GPL +2.54% $1.21

3.  Freeport

FCX +2.44% $18.49

 

LOSERS

1.  Coeur

CDE -5.50% $7.39

2.  Alio Gold

ALO -5.31% $2.05

3.  Gold Standard

GSV -4.17% $1.61

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

 

- Chris Mullen, Gold Seeker Report

 

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

© Gold Seeker 2018

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