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Closing Report: Gold and Silver Gain Almost 2 and 1 percent on Yellen’s Caution - March 29th 2016








Chris Mullen | March 29th

 

Close

Gain/Loss

Gold

$1241.30

+$21.30

Silver

$15.33

+$0.14

XAU

70.75

+5.27%

HUI

181.51

+6.21%

GDM

656.18

+4.61%

JSE Gold

2030.01

+13.93

USD

95.15

-0.81

Euro

112.94

+0.98

Yen

88.73

+0.60

Oil

$38.28

-$1.11

10-Year

1.814%

-0.056

T-Bond

164.5625

+1.03125

Dow

17633.11

+0.56%

Nasdaq

4846.62

+1.67%

S&P

2055.01

+0.88%

 
 
Precious Metals Charts

 

The Metals:

 

Gold saw slight losses in Asia before it climbed up to $1228.69 by midmorning in New York and then chopped back lower at times, but it then jumped to new session highs after fed chair Yellen began her speech and the yellow metal ended with a gain of 1.75%.  Silver rose to as high as $15.351 and ended with a gain of 0.92%.

 

Euro gold rose to about €1099, platinum gained $21 to $964, and copper fell a few cents to about $2.22.

 

Gold and silver equities climbed higher throughout most of the afternoon and ended with about 5% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Case-Shiller 20-city Index

Jan

5.7%

5.7%

5.7%

Consumer Confidence

Mar

96.2

94.5

94.0

 

Yellen Says Caution in Raising Rates Is ‘Especially Warranted’  Bloomberg

Yellen says Fed should proceed 'cautiously' given global risks  Reuters

 

Tomorrow brings ADP Employment for March.

 

The Markets:

 

Precious Metals Charts

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

 

Oil fell almost 3% on expectations for rising supplies in tomorrow’s inventory report.

 

The U.S. dollar index turned markedly lower and treasuries jumped higher along with the Dow, Nasdaq, and S&P after Yellen’s call for caution when it comes to raising interest rates.

 

Among the big names making news in the market today were Sinopec, Whistler, NBC, and Apple.

 

GATA Posts:

 

 

India's finance minister can't persuade his own wife to paperize her gold jewellery

Craig Hemke interviews GATA Chairman Murphy for Sprott Money News

 

The Statistics:

As of close of business: 3/28/2016

Gold Warehouse Stocks:

6,840,001.787

+14,146.00

Silver Warehouse Stocks:

155,561,056.798

-63,207.06

 

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

823.742

26,484,117

US$32,459m

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$5,448m

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$6,019m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$443m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

32.71

1,051,615

US$1,284m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 193.02: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,257.03: +26.64 change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) semi-annual dividend, Newmont’s (NEM) Tender Offer, Vista Gold’s (VGZ) tax refund, and Gold Fields’ (GFI) appeal in Australia and development agreement with the Government of Ghana were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Buenaventura

BVN +12.96% $7.06

2.  Kinross

KGC +11.26% $3.36

3.  New Gold

NGD +9.43% $3.83

 

No “losers” today.

 

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 29th, 2016
Source: Gold-Seeker.com







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