• Gold: 1,254.78 -0.45
  • Silver: 18.09 -0.01
  • Euro: 1.086 0.000
  • USDX: 99.219 -0.089
  • Oil: 47.78 -0.34

March 8: Gold and Silver Fall As Dollar Tops 102

Chris Mullen
|
Wednesday, March 8th
 

Close

Gain/Loss

Gold

$1208.70

-$7.10

Silver

$17.24

-$0.24

XAU

78.52

-0.81%

HUI

183.76

-0.54%

GDM

595.63

-0.62%

JSE Gold

1224.66

-3.40

USD

102.09

+0.30

Euro

105.45

-0.24

Yen

87.44

-0.26

Oil

$50.28

-$2.86

10-Year

2.556%

+0.040

T-Bond

149.25

-0.84375

Dow

20855.73

-0.33%

Nasdaq

5837.55

+0.06%

S&P

2362.96

-0.23%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-8gsr/1.jpg

The Metals:

 

Gold fell $9 to $1206.80 in early New York trade before it chopped back higher into the close, but it still ended with a loss of 0.58%. Silver slipped to as low as $17.213 and ended with a loss of 1.37%.

 

Euro gold fell to about €1146, platinum lost $13 to $944, and copper fell a couple of cents to about $2.60.

 

Gold and silver equities waffled near unchanged and ended slightly lower.

The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Feb

298K

180K

261K

Productivity

Q4

1.3%

1.5%

1.3%

Unit Labor Costs

Q4

1.7%

1.6%

1.7%

Wholesale Inventories

Jan

-0.2%

-0.1%

1.0%

 

Tomorrow brings Initial Jobless Claims and Import and Export Prices.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-8gsr/1.png

Charts Courtesy of http://finance.yahoo.com/

 

Oil dropped over 5% after the Energy Information Administration reported that crude inventories rose 8.2 million barrels, gasoline inventories fell 6.6 million barrels, and distillates fell 2.7 million barrels.

 

The U.S. dollar index rose and treasuries fell again after this morning’s stronger than expected jobs data strengthened the case for an interest rate hike by the fed next week.

 

The Dow and S&P followed oil lower while the Nasdaq rose on strong earnings reports in the tech sector.

 

Among the big names making news in the market today were Caterpillar, Express, Snap, and Disney.

 

GATA Posts:

 

 

Indian gold imports said to almost triple on wedding demand

Bank of England deputy governor with brother in senior Barclays role faces calls to resign

Hugo Salinas Price: Where are we today?

Ronan Manly reflects on odd withdrawal of Thomson Reuters, CME from silver pricing

 

The Statistics:

As of close of business: 3/7/2017

Gold Warehouse Stocks:

8,894,600.148

-32,310.75

Silver Warehouse Stocks:

187,952,978.910

-334,727.106

 

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

836.766

26,902,867

US$32,528m

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$5,378m

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$5,942m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$434m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

35.73

1,148,868

US$1,391m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.52: No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,350.88: No change from yesterday’s data.

 

The Miners:

 

Randgold’s (GOLD) comments on hunting for new discoveries in emerging markets, Tanzanian Royalty’s (TRX) market maker, Paramount’s (PZG) Memorandum of Understanding ("MOU") governing the preparation of a National Environmental Policy Act ("NEPA") Analysis for its wholly-owned Grassy Mountain Gold Project in Oregon, and Northern Dynasty’s (NAK) regulatory and permitting consultant were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Northern Dynasty

NAK +10.92% $1.32

2. Paramount

PZG +8.02% $1.75

3. Seabridge

SA +3.70% $9.80

LOSERS

1. Alexco

AXU -6.90% $1.35

2. Avino

ASM -4.37% $1.75

3. McEwen

MUX -3.29% $2.94

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

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

- Chris Mullen, Gold Seeker Report

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© Gold Seeker 2017

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