• Gold: 1,242.62 -5.79
  • Silver: 14.50 -0.13
  • Euro: 1.135 -0.006
  • USDX: 97.149 0.635
  • Oil: 51.54 -0.59

March 5: Gold and Silver End Slightly Lower but Miners Gain

Chris Mullen
|
Monday, March 5th

 

Close

Gain/Loss

Gold

$1319.60

-$2.30

Silver

$16.43

-$0.08

XAU

79.10

+0.44%

HUI

174.35

+0.78%

GDM

603.42

+0.25%

JSE Gold

1108.17

+0.60

USD

90.00

+0.06

Euro

123.36

+0.08

Yen

94.25

-0.41

Oil

$62.57

+$1.32

10-Year

2.884%

+0.024

T-Bond

143.96875

-0.46875

Dow

24874.76

+1.37%

Nasdaq

7330.70

+1.00%

S&P

2720.94

+1.10%

 
http://www.goldseek.com/news/2018/2018-03-05_14-02-23.jpg

 

The Metals:

 

Gold gained $5.80 to $1327.70 in Asia before it dropped back to $1317.40 by midafternoon in New York, but it then bounced back higher in the last 2 hours of trade and ended with a loss of just 0.17%. Silver waffled between $16.597 and $16.36 and ended with a loss of 0.48%.

 

Euro gold fell to about €1070, platinum lost $5 to $958, and copper remained at about $3.11.

 

Gold and silver equities waffled near unchanged and ended with modest gains.

 

The Economy:

 

U.S. Service Industries Grow Near Fastest in at Least a Decade  Bloomberg

US Markit Feb services PMI 55.9 vs 55.9 exp  forexlive

As Congress moves to drop tariffs, some U.S. firms cry foul  Reuters

 

Tomorrow brings Factory Orders.

 

 

The Markets:

 

Oil rose over 2% on strong demand forecasts and supply disruptions in Libya.

 

The U.S. dollar index traded mostly slightly higher as the yen fell along with treasuries on easing worries about a possible trade war that sent the Dow, Nasdaq, and S&P over 1% higher.

 

Among the big names making news in the market today were United, Amazon, Broadcom-Qualcomm, Caterpillar, and Fidelity.

 

GATA Posts:

 

 

Ambrose Evans-Pritchard: Warnings of financial blowup in Hong Kong

Study finds increase in taxi trips between NY Fed and banks around FOMC meetings

A new theory about 'gold pukes': Banks desperate for dollar liquidity

U.S. dollar outlook darkens as trade war looms

New analysis sees return of trillion-dollar budget deficits

Dumping U.S. debt may become a weapon in global trade war

 

The Statistics:

As of close of business: 3/2/2018

Gold Warehouse Stocks:

9,133,645.713

-

Silver Warehouse Stocks:

251,779,501.180

-222,517.543

 

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$35,392m

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$5,867m

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$6,483m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$473m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.05: -0.06 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.07: +45.99 change from yesterday’s data.

 

The Miners:

 

Freeport’s (FCX) redemption of senior notes and talks with Indonesia, Gold Resource’s (GORO) annual meeting of shareholders, and Almaden’s (AAU) board appointment were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Sibanye

SBGL +5.61% $4.14

2.  NOVAGOLD

NG +3.87% $4.03

3.  Eldorado

EGO +3.64% $1.14

 

LOSERS

1.  Avino

ASM -3.85% $1.25

2.  B2Gold

BTG -3.33% $2.90

3.  Americas Silver

USAS -3.25% $3.50

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

 

- Chris Mullen, Gold Seeker Report

 

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