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Closing Report: Gold and Silver Gain Almost 2% - March 3rd 2016








Chris Mullen | March 3rd

 

Close

Gain/Loss

Gold

$1262.20

+$21.30

Silver

$15.22

+$0.27

XAU

66.88

+4.48%

HUI

173.35

+4.51%

GDM

549.05

+3.45%

JSE Gold

2038.11

+60.37

USD

97.55

-0.64

Euro

109.64

+0.93

Yen

88.01

-0.11

Oil

$34.57

-$0.09

10-Year

1.830%

-0.018

T-Bond

164.84375

+0.84375

Dow

16943.90

+0.26%

Nasdaq

4707.42

+0.09%

S&P

1993.40

+0.35%

 
 

 

The Metals:

 

Gold held near unchanged in Asia and London, but it then jumped higher at times in New York and ended near its late session high of $1268.04 with a gain of 1.72%.  Silver rose to as high as $15.307 and ended with a gain of 1.81%.

 

Euro gold rose to above €1151, platinum gained $15.50 to $946, and copper climbed 3 cents to about $2.22.

 

Gold and silver equities rose roughly 4% by late morning and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Productivity

Q4

-2.2%

-3.3%

-3.0%

Unit Labor Costs

Q4

3.3%

4.7%

4.5%

Factory Orders

Jan

1.6%

2.0%

-2.9%

Initial Claims

2/27

278K

270K

272K

ISM Services

Feb

53.4

53.1

53.5

 

Tomorrow brings February’s jobs data and the Trade Balance for January.

 

The Markets:

 

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

 

Oil ended slightly lower in mixed trade.

 

The U.S. dollar index fell and treasuries rose on poor economic data and worries about tomorrow’s jobs data.

 

The Dow, Nasdaq, and S&P reversed higher in late trade on continued relief over a steady oil market.

 

Among the big names making news in the market today were Kroger, Chesapeake, Costco, Herbalife, Dow, and DuPont.

 

GATA Posts:

 

 

Hong Kong exchange will launch a gold futures contract that's actually gold

India's love affair with gold tested as tax fight spurs jeweler shutdown

 

The Statistics:

As of close of business: 3/2/2016

Gold Warehouse Stocks:

6,788,791.443

+11,659.81

Silver Warehouse Stocks:

152,185,443.324

-382,423.026

 

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

788.574

25,353,443

US$31,688m

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$5,580m

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$6,168m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$453m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.15

937,191

US$1,170m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.379 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 190.14: +0.27 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,777.39: +84.97 change from yesterday’s data.

 

The Miners:

 

Tanzanian Royalty’s (TRX) progress report and Avino’s (ASM) fourth quarter and year end results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Pretivm

PVG +13.25% $5.30

2.  Alamos

AGI +13.25% $5.13

3.  DRDGOLD

DRD +13.14% $3.96

 

LOSERS

1.  Nevsun

NSU -2.84% $3.42

2.  Turquoise

TRQ -1.16% $2.55

3.  Paramount

PZG -0.83% $1.20

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 3rd, 2016
Source: Gold-Seeker.com







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