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Closing Report - March 23rd 2016: Gold and Silver Fall About 2% and 4%








Chris Mullen | March 23rd

 

Close

Gain/Loss

Gold

$1220.40

-$27.80

Silver

$15.25

-$0.62

XAU

66.10

-7.31%

HUI

168.04

-7.36%

GDM

534.32

-6.38%

JSE Gold

1998.34

-94.10

USD

96.08

+0.46

Euro

111.79

-0.35

Yen

88.94

-0.07

Oil

$39.79

-$1.66

10-Year

1.875%

-0.060

T-Bond

163.375

+1.46875

Dow

17502.59

-0.45%

Nasdaq

4768.86

-1.09%

S&P

2036.71

-0.64%

 
 
Metals Charts

 

The Metals:

 

Gold fell $31.81 to $1216.39 by midmorning in New York before it bounced back higher into the close, but it still ended with a loss of 2.23%.  Silver slipped to as low as $15.225 and ended with a loss of 3.91%.

 

Euro gold fell to about €1092, platinum lost $35 to $955, and copper fell 5 cents to about $2.25.

 

Gold and silver equities fell over 6% in the first half hour of trade before they bounced back higher into midday, but they then fell back off again in late trade and ended about 7% lower on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

New Home Sales

Feb

512K

511K

502K

 

Tomorrow brings Initial Jobless Claims and Durable Goods Orders.

 

The Markets:

 

Markets Charts

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

 

Oil extended lower the after Energy Information Administration reported that crude inventories rose 9.4 million barrels, gasoline inventories fell 4.6 million barrels, and distillates rose 900,000 barrels.

 

The U.S. dollar index climbed higher after another fed official said the fed may raise interest rates at their meeting next month.

 

Treasuries rose as the Dow, Nasdaq, and S&P fell on renewed worries about the oil market.

 

Among the big names making news in the market today were Starbucks, Credit Suisse, and Yum Brands.

 

GATA Posts:

 

 

China's vice finance minister denies any secret US-China exchange rate deal

World's richest Hindu temple wants gold back rather than cash

Hugo Salinas Price: It's 1790 all over again

 

The Statistics:

As of close of business: 3/22/2016

Gold Warehouse Stocks:

6,830,730.336

-

Silver Warehouse Stocks:

155,902,998.998

+494,948.85

 

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

821.661

26,417,207

US$32,157m

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$5,432m

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$5,998m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$439m

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: 192.72: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,230.39: -44.41 change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) release of study results next week, Timmins Gold’s (TGD) Preliminary Economic Assessment, and AuRico’s (AMI.TO) updated resource and Feasibility Study update were among the big stories in the gold and silver mining industry making headlines today.

 

No “winners” today.

LOSERS

1.  Freeport

FCX -11.28% $9.75

2.  New Gold

NGD -9.66% $3.46

3.  Coeur

CDE -9.48% $5.25

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 23rd, 2016
Source: Gold-Seeker.com







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