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Closing Report: Gold and Silver Gain Over 2% - March 16th 2016








Chris Mullen | March 16th

 

Close

Gain/Loss

Gold

$1261.10

+$27.70

Silver

$15.62

+$0.34

XAU

71.38

+6.94%

HUI

183.13

+6.64%

GDM

573.79

+5.94%

JSE Gold

2094.92

+38.94

USD

95.65

-0.98

Euro

112.26

+1.18

Yen

88.90

+0.53

Oil

$38.46

+$2.12

10-Year

1.938%

-0.021

T-Bond

162.84375

-0.1875

Dow

17325.76

+0.43%

Nasdaq

4763.97

+0.75%

S&P

2027.22

+0.56%

 
 
Metals Charts

 

The Metals:

 

Gold edged up to $1235.09 in Asia before it dropped back to $1227.01 in early New York trade, but it then shot higher after today’s fed announcement and ended near its late session high of $1262.87 with a gain of 2.25%.  Silver jumped to as high as $15.639 and ended with a gain of 2.23%.

 

Euro gold rose to about €1123, platinum gained $20 to $974, and copper climbed a couple of cents to about $2.26.

 

Gold and silver equities saw slight losses for most of the morning, but they then climbed steadily higher in the last two hours of trade and ended with about 6% gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Housing Starts

Feb

1178K

1137K

1120K

Building Permits

Feb

1167K

1204K

1204K

CPI

Feb

-0.2%

-0.2%

0.0%

Core CPI

Feb

0.3%

0.1%

0.3%

Industrial Production

Feb

-0.5%

-0.3%

0.8%

Capacity Utilization

Feb

76.7%

76.9%

77.1%

 

Fed holds rates steady as U.S. economy grows despite global risks  Reuters

Fed Scales Back Rate-Rise Forecasts as Global Outlook Weakens  Bloomberg

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, the Current Account Balance, and Leading Economic Indicators.

 

The Markets:

 

Markets Charts

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

 

Oil rose almost 6% as the U.S. dollar index dove lower after the fed cut its forecast for interest rate hikes in 2016 to two from four.

 

Treasuries traded mixed while the Dow, Nasdaq, and S&P turned decently higher after the fed’s announcement.

 

Among the big names making news in the market today were Valeant and Apple.

 

GATA Posts:

 

 

Imagine how much they'd save if they NEVER went back to work

Ronan Manly's encyclopedia of the world's gold markets

Munich Re stashes gold and cash to counter negative rates

Closer look at London Metal Exchange aluminum prices reveals anomalies

U.S. inflation rears its ugly head as global cycle nears danger zone

 

The Statistics:

As of close of business: 3/15/2016

Gold Warehouse Stocks:

6,794,318.789

-16,139.30

Silver Warehouse Stocks:

155,451,334.528

-116,729.39

 

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

792.226

25,470,844

US$31,285m

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$6,033m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$453m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

32.00

1,028,856

US$1,282m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.082 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: 10,135.66: No change from yesterday’s data.

 

The Miners:

 

International Tower Hill’s (THM) 2015 results, Kinross Gold’s (KGC) bought deal public offering, Claude’s (CGR) drill results, and Primero’s (PPP) 2015 year-end Mineral Reserves and Mineral Resources were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Primero

PPP +12.5% $2.07

2.  B2Gold

BTG +11.89% $1.60

3.  Buenaventura

BVN +11.07% $5.72

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

© Gold Seeker 2016

Published:March 16th, 2016
Source: Gold-Seeker.com







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