• Gold: 1,324.69 -0.23
  • Silver: 16.59 -0.04
  • Euro: 1.221 -0.000
  • USDX: 90.927 0.556
  • Oil: 68.9 0.86

March 22: Gold and Silver Pare Yesterday’s Gains; Dow Drops 700+

Chris Mullen
|
Thursday, March 22nd

 

Close

Gain/Loss

Gold

$1328.30

-$5.10

Silver

$16.39

-$0.21

XAU

79.39

-1.49%

HUI

171.70

-1.60%

GDM

601.72

-1.28%

JSE Gold

1089.96

+23.19

USD

89.78

+0.13

Euro

123.11

-0.36

Yen

95.09

+0.47

Oil

$64.30

-$0.87

10-Year

2.821%

-0.061

T-Bond

144.90625

+1.40625

Dow

23957.89

-2.93%

Nasdaq

7166.68

-2.43%

S&P

2643.69

-2.52%

 
http://www.goldseek.com/news/2018/2018-03-22_14-10-37.jpg

 

The Metals:

 

Gold chopped between $1327.50 and $1333.80 in Asia before it fell to a new session low of $1324.80 in early afternoon New York trade, but it then bounced back higher into the close and ended with a loss of just 0.38%. Silver slipped to as low as $16.35 and ended with a loss of 1.27%.

 

Euro gold fell to about €1078, platinum lost $10 to $947, and copper dropped 3 cents to about $3.04.

 

Gold and silver equities fell over 1% at the open and remained near that level for most of the day.

 

The Economy:

 

Leading indicators up 0.6% in February, vs. expectations for 0.4% gain  CNBC

Ignoring Trend, Home Prices Surged in January  mortgagenewsdaily

U.S. Jobless Claims Inch Up While Benefit Rolls Lowest Since '73  Bloomberg

 

Tomorrow brings Durable Goods Orders and New Home Sales.

 

The Markets:

 

Oil fell over 1% and the U.S. dollar index rose with treasuries as the Dow, Nasdaq, and S&P dropped nearly 3% on concerns over a trade war after President Trump ordered tariffs on Chinese imports.

 

Among the big names making news in the market today were AbbVie, Amazon, Accenture, Best Buy, and Micron.

 

GATA Posts:

 

 

An exclusive tour of Russia's gold reserve

 

The Statistics:

As of close of business: 3/21/2018

Gold Warehouse Stocks:

9,060,591.220

-

Silver Warehouse Stocks:

257,812,433.903

-

 

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

850.543

27,345,794

US$36,125m

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$5,894m

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$6,513m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$476m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.34: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,942.90: No change from yesterday’s data.

 

The Miners:

 

SEMAFO’s (SMF.TO) mine construction update, ITH’s (THM) change in directors, and Excellon’s (EXN.TO) 2017 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Harmony

HMY +4.00% $2.34

2.  Americas Silver

USAS +3.85% $3.51

3.  Gold Fields

GFI +2.31% $3.98

 

LOSERS

1.  Freeport

FCX -5.89% $18.05

2.  Alio Gold

ALO -5.16% $2.02

3.  Nevsun

NSU -5.00% $2.28

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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