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Closing Report: Gold and Silver Fall Slightly While Stocks Gain Over 2% - March 1st 2016








Chris Mullen | March 1st

 

Close

Gain/Loss

Gold

$1232.00

-$8.00

Silver

$14.87

-$0.04

XAU

61.61

-3.60%

HUI

160.50

-4.17%

GDM

522.26

-2.95%

JSE Gold

2081.44

-0.53

USD

98.36

+0.13

Euro

108.65

-0.10

Yen

87.79

-0.95

Oil

$34.40

+$0.65

10-Year

1.834%

+0.094

T-Bond

163.78125

-2.09375

Dow

16865.08

+2.11%

Nasdaq

4689.59

+2.89%

S&P

1978.35

+2.39%

 
 

 

The Metals:

 

Gold saw decent gains for most of trade in Asia and London before it fell to see an almost 1% loss by midmorning in New York, but it then bounced back higher into the close and ended with a loss of just 0.65%.  Silver slipped to as low as $14.72 and ended with a loss of 0.27%.

 

Euro gold fell to about €1134, platinum remained at $934, and copper climbed a couple of cents to about $2.14.

 

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

 

The Economy:

 

Report

For

Reading

Expected

Previous

Construction Spending

Jan

1.5%

0.5%

0.6%

ISM Index

Feb

49.5

49.0

48.2

 

Tomorrow brings ADP Employment and the Fed's Beige Book.

 

The Markets:

 

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

 

Oil rose on continued talk of stabilizing output levels.      

 

The U.S. dollar index rose and treasuries fell on better than expected economic data that sent the Dow, Nasdaq, and S&P over 2% higher.

 

Among the big names making news in the market today were Ford, Fiat Chrysler, Toyota, GM, ICE, and Honeywell.

 









GATA Posts:

 

 

TF sees stock market collapse, Moolman expects devaluations

Roy Sebag: Warren Buffett's math is trumped by gold

India imposes gold sales tax on top of record import duty

Mike Ballanger: Patiently climbing aboard the new golden bull

 







The Statistics:

As of close of business: 2/29/2016

Gold Warehouse Stocks:

6,806,719.287

+21,747.834

Silver Warehouse Stocks:

152,787,793.990

-1,472,818.68

 

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

777.274

24,990,130

US$30,891m

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$5,458m

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$6,050m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$442m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.03

933,389

US$1,155m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 14.869 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 189.42: +0.92 change from yesterday’s data.

 

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

 

The Miners:

 

Pretivm’s (PVG) closed offering, Randgold’s (GOLD) thoughts on bullion prices, and MAG Silver’s (MVG) closed financing were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Turquoise

TRQ +4.98% $2.32

2.  Freeport

FCX +1.70% $7.76

3.  DRDGOLD

DRD +1.49% $3.40

 

LOSERS

1.  Gold Fields

GFI -8.43% $3.91

2.  B2Gold

BTG -7.14% $1.04

3.  First Majestic

AG -6.68% $4.33

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2016

Published:March 1st, 2016
Source: Gold-Seeker.com







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