• Gold: 1,202.84 1.38
  • Silver: 14.07 0.06
  • Euro: 1.127 0.003
  • USDX: 97.3 -0.242
  • Oil: 59.18 0.36

March 27: Gold and Silver Fall With Stocks

Chris Mullen
|
Tuesday, March 27th

 

Close

Gain/Loss

Gold

$1344.30

-$8.60

Silver

$16.51

-$0.18

XAU

81.25

-1.52%

HUI

176.28

-1.50%

GDM

617.49

-1.30%

JSE Gold

1118.05

-11.81

USD

89.39

+0.34

Euro

124.04

-0.50

Yen

95.00

UNCH

Oil

$65.25

-$0.30

10-Year

2.781%

-0.065

T-Bond

145.75

+1.03125

Dow

23857.71

-1.43%

Nasdaq

7008.81

-2.93%

S&P

2612.62

-1.73%

 
http://www.goldseek.com/news/2018/2018-03-27_14-03-24.jpg

 

The Metals:

 

Gold fell $13.70 to $1340.20 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.64%. Silver slipped to as low as $16.471 and ended with a loss of 1.08%.

 

Euro gold fell to about €1084, platinum lost $8 to $942, and copper climbed two cents to about $3.00.

 

Gold and silver equities dropped over 2% by midmorning before they rebounded into midday, but they still ended over 1% lower on the day.

 

The Economy:

 

OPEC, Russia consider 10-20 year oil alliance - Saudi Crown Prince  Reuters

Consumer confidence retreats in March but still near 18-year high  MarketWatch

Home Prices in 20 U.S. Cities Advance More Than Forecast  Bloomberg

 

Tomorrow brings GDP, International Trade in Goods, and Pending Home Sales.

 

The Markets:

 

Oil ended slightly lower ahead of tomorrow’s supply data.

 

The U.S. dollar index rose as the euro dropped on concerns about slowing lending and low inflation in the eurozone.

 

Treasuries climbed higher as the Dow, Nasdaq, and S&P erased midday gains and ended markedly lower on concerns that China will target technology in the next round of the recent trade conflict.

 

Among the big names making news in the market today were Waymo and Jaguar, H&M, BMW, GSK and Novartis, Facebook, Heineken, and Microsoft.

 

GATA Posts:

 

 

Clint Siegner: Mine production may decline but there's still plenty of 'paper gold'

China's oil futures launch may threaten dollar's primacy, UBS analyst says

 

The Statistics:

As of close of business: 3/26/2018

Gold Warehouse Stocks:

9,060,591.220

-

Silver Warehouse Stocks:

259,496,717.443

+573,687.37

 

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

847.298

27,241,486

US$36,533m

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$5,975m

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$6,589m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$483m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.245 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.08: No change from yesterday’s data.

 

The Miners:

 

Paramount’s (PZG) approvals, Golden Star’s (GSS) Mineral Reserves and Mineral Resources estimate update, Endeavour Silver’s (EXK) progress update, and MAG Silver’s (MAG) 2017 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Fortuna

FSM +1.53% $5.30

2.  DRDGOLD

DRD +1.41% $2.87

3.  Nevsun

NSU +1.30% $2.33

 

LOSERS

1.  McEwen

MUX -4.95% $2.11

2.  NovaGold

NG -4.27% $4.48

3.  Silvercorp

SVM -3.90% $2.71

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

 

- 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 2018

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.

Your rating: None Average: 3 (1 vote)

Article Comments

Sponsored Links

Live SilverSeek Map