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Closing Report: Gold and Silver Gain Over 1% - Feb 29 2016








Chris Mullen | February 29th

 

Close

Gain/Loss

Gold

$1240.00

+$15.70

Silver

$14.91

+$0.19

XAU

63.91

+3.26%

HUI

167.49

+3.68%

GDM

535.99

+2.26%

JSE Gold

2081.97

+20.91

USD

98.23

+0.14

Euro

108.81

-0.50

Yen

88.68

+0.95

Oil

$33.75

+$0.97

10-Year

1.740%

-0.022

T-Bond

166.03125

+0.40625

Dow

16516.50

-0.74%

Nasdaq

4557.94

-0.71%

S&P

1932.23

-0.81%

 
 

 

The Metals:

 

Gold rose almost 1% in London before it fell back to nearly unchanged at about 8:30AM EST, but it then climbed to a new session high of $1241.02 in New York and ended with a gain of 1.28%.  Silver rose to as high as $14.913 and ended with a gain of 1.29%.

 

Euro gold rose to about €1140, platinum gained $23 to $934, and copper remained at about $2.12.

 

Gold and silver equities rose roughly 2% in the first half hour of trade before they drifted back a bit into midday, but they then rallied back higher again in the last few hours of trade and ended with about 3% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Chicago PMI

Feb

47.6

52.0

55.6

Pending Home Sales

Jan

-2.5%

0.7%

0.9%

 

China Reserve-Ratio Cut Signals Growth Takes Priority Over Yuan  Bloomberg

 

Tomorrow brings Construction Spending and the ISM Index.

 

The Markets:

 

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

 

Oil rose 3% on new stimulative measures out of China and continued talk over possible output freezes.

 

The U.S. dollar index saw slight gains as the euro fell on expectations for a dovish ECB at their meeting next week.

 

Treasuries traded modestly higher as the Dow, Nasdaq, and S&P fell in afternoon trade on worries about interest rates and the economy.

 

Among the big names making news in the market today were Valeant, RBC, and IBM.

 







GATA Posts:

 

 

OMG: London Times acknowledges increasing vulnerability of gold derivatives

Eurozone slides back into deflation

India imposes gold sales tax on top of record import duty

 








The Statistics:

As of close of business: 2/26/2016

Gold Warehouse Stocks:

6,784,971.453

-321.50

Silver Warehouse Stocks:

154,260,612.670

+54,797.129

 

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

762.405

24,512,080

US$30,261m

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$5,475m

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$6,058m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.03

933,399

US$1,152m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.082 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 188.52: +0.27 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,692.42: No change from yesterday’s data.

 

The Miners:

 

Gold Reserve’s (GRZ.V) Memorandum of Understanding with the Bolivarian Republic of Venezuela, Endeavour Mining’s (EDV.TO) mine sale, Proven and Probable mineral reserves, and Measured and Indicated mineral resources, Vista Gold’s (VGZ) 2015 results, Osisko’s (OR.TO) 2015 results, Primero’s (PPP) exploration update, and Coeur’s (CDE) drill results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Coeur

CDE +8.73% $3.86

2.  Harmony

HMY +8.67% $3.26

3.  New Gold

NGD +7.28% $3.39

 

LOSERS

1.  Avino

ASM -0.93% $1.06

2.  Turquoise

TRQ -0.90% $2.21

3.  Pan American

PAAS -0.31% $9.59

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 2016

Published:February 29th, 2016
Source: Gold-Seeker.com







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