Close | Gain/Loss | |
Gold | $1646.30 | -$30.70 |
Silver | $32.57 | -$0.41 |
XAU | 173.41 | -3.08% |
HUI | 465.28 | -3.34% |
GDM | 1349.57 | -3.31% |
JSE Gold | 2406.62 | -29.15 |
USD | 79.39 | +0.55 |
Euro | 132.31 | -0.94 |
Yen | 120.77 | -1.07 |
Oil | $104.01 | -$1.22 |
10-Year | 2.284% | +0.091 |
T-Bond | 136.8125 | -1.1875 |
Dow | 13199.55 | -0.49% |
Nasdaq | 3113.57 | -0.20% |
S&P | 1413.31 | -0.40% |
The Metals:
Gold edged up to $1680.78 in early New York trade, but it then plummeted to as low as $1638.80 after the release of the fed’s minutes and ended with a loss of 1.83%.Silver slumped to as low as $32.465 and ended with a loss of 1.24%.
Euro gold fell to about €1244, platinum lost $5.70 to $1640, and copper dropped a couple of cents to about $3.89.
Gold and silver equities fell over 3% by midafternoon and remained near that level for the rest of the day.
The Economy:
Report | For | Reading | Expected | Previous |
Factory Orders | Feb | 1.3% | 1.4% | -1.1% |
“The Federal Reserve is holding off on increasing monetary accommodation unless the U.S. economic expansion falters or prices rise at a rate slower than its 2 percent target.
“A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below” 2 percent, according to minutes of their March 13 meeting released today in Washington.”
Tomorrow at 8:15AM EST brings ADP Employment for March expected at 217,000 and at 10AM is the ISM Services report for March expected at 56.7.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as the U.S. dollar index jumped higher after the fed’s hawkish comments sent treasuries lower along with the Dow, Nasdaq, and S&P.
Among the big names making news in the market today were Coty and Avon, Apple, and Molson Coors and StarBev.
The Statistics:
As of close of business: 4/02/2012
Gold Warehouse Stocks: | 11,407,120.714 | +54,811.376 |
Silver Warehouse Stocks: | 138,488,115.923 | -109,320.34 |
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 | 1286.621 | 41,366,147 | US$69,309m |
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$6,415m |
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 | 472,537 | US$752m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 39.87 | 1,281,721 | US$2,124m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 180.81: -0.36 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,683.20: -51.35 change from yesterday’s data.
Eurasian Minerals’ (EMXX) option agreement, Barrick’s (ABX) completed debt sale, Seabridge’s (SA) drilling plans, Claude’s (CGR) new VP of operations, Paramount’s (PZG) assay results, Pretivm’s (PVG) Mineral Resource estimate, and First Majestic’s (AG) friendly acquisition of Silvermex (SLX.TO) were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1.Pretivm | PVG+7.12% $15.20 |
2.Paramount | PZG +2.55% $2.41 |
3.Almaden | AAU +1.15% $2.65 |
LOSERS
1.Lake Shore | LSG -11.86% $1.04 |
2.Loncor | LON -8.21% $1.34 |
3.McEwen | MUX -7.96% $4.16 |
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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- http://www.goldreview.com
©Gold Seeker 2012
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