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Closing Report: Gold and Silver Fall 1% By The Close - March 14th 2016








Chris Mullen | March 14th

 

Close

Gain/Loss

Gold

$1233.60

+$16.60

Silver

$15.32

+$0.14

XAU

66.36

-2.53%

HUI

169.44

-3.37%

GDM

536.89

-3.95%

JSE Gold

2031.43

-47.06

USD

96.60

+0.36

Euro

110.99

-0.47

Yen

87.87

+0.01

Oil

$37.18

-$1.32

10-Year

1.963%

-0.014

T-Bond

162.8125

+0.25

Dow

17229.13

+0.09%

Nasdaq

4750.27

+0.04%

S&P

2019.64

-0.13%

 
 
Metals Charts

 

The Metals:

 

Gold gained $10.76 to $1260.96 at about 6AM EST, but it then drifted back lower for most of the rest of trade and ended near its late session low of $1229.31 with a loss of 1.33%.  Silver slipped to as low as $15.283 and ended with a loss of 0.91%.

 

Euro gold fell to about €1111, platinum lost $6 to $954, and copper remained at about $2.24.

 

Gold and silver equities fell about 3% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Fed to sit tight on rates at March meet, hint at hikes to come  Reuters

 

Tomorrow brings Retail Sales, PPI, Empire Manufacturing, Business Inventories, the NAHB Housing Market Index, and Net Long-Term TIC Flows.

 

The Markets:

 

Markets Chart

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

 

Oil fell over 3% “as Iran again tossed cold water on market speculation for a production cut and weak economic data from China raised worries about the outlook for energy demand.”

 

The U.S. dollar index rose on thoughts that the fed may forecast future interest rate hikes at the conclusion of its meeting this Wednesday.

 

Treasuries traded mixed as the Dow, Nasdaq, and S&P held near unchanged before this week’s busy schedule of economic data.

 

Among the big names making news in the market today were Allergan, Viacom, and UBS.

 

GATA Posts:

 

 

BlackRock was buying lots of GLD while fumbling its own gold fund

Keith Barron's real-life adventure story of gold discovery in Ecuador, Part 2

A 'radical economic theory' is gaining converts, except it's not radical at all

Central banks aim to beat bitcoin at own game with rival supercurrency

 

The Statistics:

As of close of business: 3/11/2016

Gold Warehouse Stocks:

6,815,280.589

-32.15

Silver Warehouse Stocks:

155,305,559.468

-330,337.27

 

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

798.767

25,681,155

US$31,910m

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$5,522m

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$6,103m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$442m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

32.00

1,028,856

US$1,282m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.97: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,135.66: +59.21 change from yesterday’s data.

 

The Miners:

 

Newmont’s (NEM) tender offer, Pretivm’s (PVG) exercise of participation rights, and Paramount’s (PZG) acquisition of Calico (CKB.V) were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +4.40% $9.97

2.  Harmony

HMY +3.24% $3.50

3.  Turquoise

TRQ +1.45% $2.79

 

LOSERS

1.  Seabridge

SA -10.46% $10.53

2.  Richmont

RIC -9.16% $4.86

3.  Gold Fields

GFI -6.37% $3.82

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:March 14th, 2016
Source: Gold-Seeker.com







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