Close | Gain/Loss | |
Gold | $1674.10 | -$31.20 |
Silver | $32.93 | -$1.07 |
XAU | 185.86 | -2.14% |
HUI | 502.40 | -2.09% |
GDM | 1457.06 | -2.14% |
JSE Gold | 2547.64 | -58.67 |
USD | 79.83 | +0.50 |
Euro | 131.14 | -1.03 |
Yen | 123.69 | +1.05 |
Oil | $104.70 | -$2.02 |
10-Year | 1.944% | -0.061 |
T-Bond | 143.4375 | +1.09375 |
Dow | 12759.15 | -1.57% |
Nasdaq | 2910.32 | -1.36% |
S&P | 1343.36 | -1.54% |
The Metals:
Gold fell $41 to as low as $1664.30 in early New York trade before it bounced back higher at times, but it still ended with a loss of 1.83%.Silver slipped to as low as $32.46 and ended with a loss of 3.15%.
Euro gold fell to about €1277, platinum lost $46.25 to $1608.75, and copper fell 11 cents to about $3.74.
Gold and silver equities fell over 3% in the first half hour of trade before they rebounded some in the last hour of trade, but they still ended with over 2% losses.
The Economy:
Obama to announce new housing initiatives Yahoo
Creditor group sees 1 trillion euro Greek default risk Reuters
There were no major economic reports today.Tomorrow at 8:15AM EST brings ADP Employment for February expected at 218,000.At 8:30 is fourth quarter Productivity expected at 0.9% and Unit Labor Costs expected at 1.1%, and at 3PM is Consumer Credit for January expected at $12 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index and treasuries rose on renewed worries about Greece that sent the Dow, Nasdaq, and S&P about 1.5% lower.
“A disorderly Greek default would cause more than a trillion euros ($1.3 trillion) of damage to the euro zone and could leave Italy and Spain dependent on outside help to stop contagion spreading, the main bondholders group has said.
Greek private creditors have until Thursday night to say whether they will participate in a bond swap that is part of a bailout and restructuring deal to help it manage its finances and meet a debt repayment on March 20.
Investors will lose almost three-quarters of the value of their debt in the exchange. Finance Minister Evangelos Venizelos told Reuters on Monday it was the best deal they would get and those who did not sign up would still be forced to take losses.”
Among the big names making news in the market today were Merck, Lehman Brothers, Qualcomm, and Oaktree.
GATA Posts:
Chinese bank leased 63 tonnes of gold in 2011
The Statistics:
Activity from: 3/05/2012
Gold Warehouse Stocks: | 11,419,453 | +4,131 |
Silver Warehouse Stocks: | 131,045,990 | +10,803 |
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 | 1293.676 | 41,592,971 | US$69,387m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 118.63 | 3,813,918 | US$6,371m |
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 | 472,687 | US$764m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 39.76 | 1,278,175 | US$2,179m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: +0.85 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,805.55: +42.3 change from yesterday’s data.
Almaden’s (AAU) drill results, ITH’s (THM) drill results, Allied Nevada’s (ANV) new CFO, and Fresnillo’s (FRES.L) 2011 results were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1.ITH | THM +3.44% $4.81 |
2.IAMGOLD | IAG+0.35% $14.29 |
LOSERS
1.Golden Minerals | AUMN -7.45% $6.83 |
2.Avino | ASM -6.96% $2.14 |
3.Banro | BAA -6.94% $4.83 |
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 2012
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