• Gold: 1,268.39 3.42
  • Silver: 17.22 -0.07
  • Euro: 1.089 0.002
  • USDX: 99.047 -0.029
  • Oil: 49.1 -0.21

March 9: Gold and Silver Fall Back to About $1200 and $17

Chris Mullen
|
Thursday, March 9th
 

Close

Gain/Loss

Gold

$1201.90

-$6.80

Silver

$16.97

-$0.27

XAU

77.70

-1.04%

HUI

181.41

-1.28%

GDM

589.34

-1.10%

JSE Gold

1217.15

-7.51

USD

101.94

-0.15

Euro

105.83

+0.38

Yen

87.02

-0.42

Oil

$49.28

-$1.00

10-Year

2.598%

+0.042

T-Bond

148.0625

-1.09375

Dow

20858.19

+0.01%

Nasdaq

5838.81

+0.02%

S&P

2364.87

+0.08%

 
 
http://goldseek.com/news/GoldSeeker/2017/3-9gsr/1.jpg

The Metals:

 

Gold fell $5.20 to $1203.50 in late Asian trade before it bounced back to $1209.00 at about 8AM EST, but it then fell to a new session low of $1201.40 in the last minutes of the day and ended with a loss of 0.56%. Silver slipped to as low as $16.943 and ended with a loss of 1.57%.

 

Euro gold fell to about €1136, platinum lost $12 to $932, and copper fell a couple of cents to about $2.58.

 

Gold and silver equities rose to see slight gains in the first 15 minutes of trade, but they then drifted back lower for most of the rest of the day and ended with about 1% losses.

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/04

243K

240K

223K

Export Prices

Feb

0.3%

-

0.2%

Export Prices ex-ag.

Feb

0.3%

-

0.2%

Import Prices

Feb

0.2%

-

0.6%

Import Prices ex-oil

Feb

0.3%

-

-0.1%

 

Mortgage rates jump to 2017 high MarketWatch

 

Tomorrow brings February’s jobs data and the Treasury Budget.

 

The Markets:

 

http://goldseek.com/news/GoldSeeker/2017/3-9gsr/1.png

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

 

Oil fell another 2% in continued reaction to yesterday’s rise in crude inventories.

 

The U.S. dollar index dropped as the euro rose after “European Central Bank president Mario Draghi signaled that the central bank may not need to roll out further stimulus measures to breathe life into Europe’s stalled economy.”

 

Treasuries saw notable losses while the Dow, Nasdaq, and S&P ended slightly higher in mixed trade ahead of tomorrow’s jobs data.

 

Among the big names making news in the market today were Shell, AIG, Akzo Nobel, and Emirates Airline.

 

GATA Posts:

 

 

Sprott makes hostile $3.1 billion bid for Central Fund of Canada

Ron Paul urges Arizona lawmakers to end capital gains tax on gold coins

 

The Statistics:

As of close of business: 3/8/2017

Gold Warehouse Stocks:

8,893,764.222

-835.926

Silver Warehouse Stocks:

187,333,810.600

-619,168.31

 

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$32,456m

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$5,347m

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$5,910m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$431m

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: 10,303.74: -47.14 change from yesterday’s data.

 

The Miners:

 

Freeport’s (FCX) copper concentrate output in Indonesia, Comstock’s (LODE) 2016 results, and Tahoe Resources’ (TAHO) dividend were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1. Gold Standard

GSV +2.56% $2.40

2. Alexco

AXU +1.48% $1.37

3. Buenaventura

BVN +0.61% $11.46

LOSERS

1. Exeter

XRA -7.03% $1.06

2. Northern Dynasty

NAK -6.82% $1.23

3. Taseko

TGB -6.07% $1.16

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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