• Gold: 1,470.75 -2.30
  • Silver: 17.10 -0.06
  • Euro: 1.107 0.000
  • USDX: 97.888 0.017
  • Oil: 56.88 -0.16

Gold Seeker Closing Report: Gold and Silver Fall About 1%

|
March 27, 2012 - 3:15pm

 

 

Close

Gain/Loss

Gold

$1681.30

-$10.70

Silver

$32.52

-$0.34

XAU

177.33

-1.40%

HUI

475.34

-1.40%

GDM

1381.33

-1.46%

JSE Gold

2460.13

+9.98

USD

79.12

+0.24

Euro

133.27

-0.31

Yen

120.30

-0.45

Oil

$107.33

+$0.30

10-Year

2.187%

-0.057

T-Bond

138.3125

+0.65625

Dow

13197.73

-0.33%

Nasdaq

3120.35

-0.07%

S&P

1412.52

-0.28%

The Metals:

 

Gold climbed $4.85 to $1696.85 by about 10AM EST before it fell back to $1681.47 in the next hour of trade and then rebounded midday, but it then fell back off again in late trade and ended with a loss of 0.64%.Silver slipped to as low as $32.447 and ended with a loss of 1.03%.

 

Euro gold fell to about €1262, platinum gained $6 to $1651, and copper fell slightly to about $3.88.

 

Gold and silver equities fell about 1.5% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Jan

-3.8%

-3.8%

-4.1%

Consumer Confidence

Mar

70.2

70.1

71.6

 

Tomorrow at 8:30AM EST brings Durable Goods Orders for February expected at 2.8%.Excluding transportation, orders are expected at 1.0%.

 

The Markets:

 

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

 

Oil edged higher on reports of production problems in the North Sea and South Sudan.

 

The U.S. dollar index and treasuries rose on lackluster economic data that sent the Dow, Nasdaq, and S&P lower.

 

Among the big names making news in the market today were Lennar, Walgreen, and KKR.

 

GATA Posts:

 

Many GATA supporters to speak at New York Hard Assets Investment Conference

Turkey increasingly recognizes gold as money

 

The Statistics:

As of close of business: 3/26/2012

Gold Warehouse Stocks:

11,408,233.470

-199.54

Silver Warehouse Stocks:

135,652,359.810

+307,291.07

 

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)

SPDR® Gold Shares

1288.736

41,434,142

US$70,081m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

119.15

3,830,754

US$6,456m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.23

4,058,350

US$6,985m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

472,575

US$770m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

39.87

1,281,763

US$2,154m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 6.043 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 181.60: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,716.42: No change from yesterday’s data.

 

The Miners:

 

SEMAFO’s (SMF.TO) drill program, Gold Resource’s (GORO) dividend, Entree’s (EGI) updated mineral resource estimate, New Gold’s (NGD) senior notes offering, Centerra’s (CG.TO) revised production forecast, and Fortuna’s (FSM) updated mineral resource estimate were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.Northern Dynasty

NAK +2.16% $6.16

2.Solitario

XPL +2.14% $1.43

3.Gold Reserve

GRZ +1.97% $3.10

 

LOSERS

1.Entree

EGI -6.06% $1.24

2.Banro

BAA -4.49% $4.68

3.Great Panther

GPL -4.18% $2.29

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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Additional Resources for today’s Gold Seeker Report can be found:

©Gold Seeker 2012

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About Chris Mullen

Chris Mullen has been the Chief Content Manager of GoldSeek.com, SilverSeek.com, UraniumSeek.com, GoldReview.com, CapitalUpdates.com, and Gold-Seeker.com since 2004. Sign up for free email lists from these sites at http://email.goldseek.com/

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