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Closing Report: Gold and Silver Fall Fall Before ECB Meeting - March 9th 2016








Chris Mullen | March 9th

 

Close

Gain/Loss

Gold

$1251.40

-$10.00

Silver

$15.27

-$0.09

XAU

66.60

+1.11%

HUI

172.56

+0.51%

GDM

545.21

+0.19%

JSE Gold

1971.31

-107.13

USD

97.17

-0.03

Euro

110.06

-0.06

Yen

88.18

-0.59

Oil

$38.29

+$1.79

10-Year

1.892%

+0.060

T-Bond

164.34375

-0.9375

Dow

17000.36

+0.21%

Nasdaq

4674.37

+0.55%

S&P

1989.26

+0.51%

 
 

 

The Metals:

 

Gold fell $18.21 to $1243.19 at about 9:45AM EST before it bounced back to nearly unchanged by early afternoon in New York, but it then drifted back lower into the close and ended with a loss of 0.79%.  Silver slipped to as low as $15.195 and ended with a loss of 0.59%.

 

Euro gold fell to about €1137, platinum lost $6 to $974, and coper climbed slightly to about $2.23.

 

Gold and silver equities fell nearly 4% in the first 20 minutes of trade, but they then climbed back higher for most of the rest of the day and ended with about 1% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Wholesale Inventories

Jan

0.3%

-0.2%

0.0%

 

Mortgage applications eke out gain  CNBC

 

Tomorrow brings Initial Jobless Claims and the Treasury Budget.

 

The Markets:

 

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

 

Oil added to early gains and ended almost 5% higher after the Energy Information Administration reported that crude inventories rose 3.88 million barrels, gasoline inventories fell 4.53 million barrels, and distillates dropped 1.1 million barrels.

 

The U.S. dollar index erased early gains and ended slightly lower as the euro reversed higher to end near unchanged ahead of tomorrow’s ECB meeting.

 

Treasuries remained lower after today’s $20 billion 10-year note auction sold at a yield of 1.895% with a bid to cover of 2.49.

 

The Dow, Nasdaq, and S&P traded mostly higher on expectation for more stimulus from the European Central Bank tomorrow.

 

Among the big names making news in the market today were Chevron, Chipotle, Siemens, GM, Valeant, and Canon.

 

GATA Posts:

 

Gata

 

Jaco Schipper: Why the allocated status of the ECB's gold is so important        

 

The Statistics:

As of close of business: 3/8/2016

Gold Warehouse Stocks:

6,817,090.545

+139.572

Silver Warehouse Stocks:

153,417,077.278

+634,625.667

 

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

790.739

25,423,034

US$31,684m

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$5,566m

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$6,161m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$449m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

30.69

986,825

US$1,250m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.378 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.52: +0.45 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,035.00: No change from yesterday’s data.

 

The Miners:

 

Gold Standard’s (GSV) exercised warrants, SEMAFO’s (SMF.TO) 2015 results, and Gold Resource’s (GORO) 2015 year-end proven and probable mineral reserves and 2015 results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +5.66% $9.15

2.  Seabridge

SA +5.52% $11.66

3.  New Gold

NGD +5.23% $3.82

 

LOSERS

1.  Eldorado

EGO -2.59% $3.38

2.  IAMGOLD

IAG -2.27% $2.15

3.  McEwen

MUX -2.06% $1.90

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 9th, 2016
Source: Gold-Seeker.com







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