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Closing Report: Gold and Silver Gain With Stocks And Oil - March 2nd 2016








Chris Mullen | March 2nd

 

Close

Gain/Loss

Gold

$1240.90

+$8.90

Silver

$14.95

+$0.08

XAU

64.00

+3.88%

HUI

165.87

+3.35%

GDM

530.23

+2.33%

JSE Gold

1977.74

-103.70

USD

98.19

-0.17

Euro

108.70

+0.04

Yen

88.18

+0.54

Oil

$34.66

+$0.26

10-Year

1.848%

+0.014

T-Bond

164.09375

+0.40625

Dow

16899.32

+0.20%

Nasdaq

4703.42

+0.29%

S&P

1986.45

+0.41%

 
 

 

The Metals:

 

Gold traded mostly lower in Asia and London, but it then climbed steadily higher in New York trade and ended near its early afternoon high of $1243.98 with a gain of 0.72%.  Silver rose to as high as $15.017 and ended with a gain of 0.54%.

 

Euro gold rose to about €1142, platinum lost $3.50 to $930.50, and copper climbed 5 cents to about $2.19.

 

Gold and silver equities rose to see about 3% gains by midafternoon and remained near that level for the rest of the day.

 



The Economy:

 

Report

For

Reading

Expected

Previous

ADP Employment

Feb

214K

190K

205K

 

U.S. economic activity expanded, but conditions mixed: Fed  Reuters

 

Tomorrow brings Initial Jobless Claims, Productivity, Factory Orders, and ISM Services.

 

The Markets:

 

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

 

Oil rose after “the U.S. government revealed a fall in weekly domestic crude output.”

 

The U.S. dollar index erased early gains to close lower and treasuries traded mixed as stronger than expected jobs data further clouded the fed’s economic outlook.

 

The Dow, Nasdaq, and S&P saw notable losses for much of the morning, but they then chopped back higher into the close and ended with slight gains on optimism over oil’s continued recovery.

 

Among the big names making news in the market today were Aubrey McClendon, Monsanto, Verizon, HBO, and Canyon Capital.

 



GATA Posts:

 

 

Pravda: Russia aims to overthrow dollar and West with gold

Nanex's Hunsader wins big whistleblower prize from useless SEC

 








The Statistics:

As of close of business: 3/1/2016

Gold Warehouse Stocks:

6,777,131.633

-29,587.654

Silver Warehouse Stocks:

152,567,866.350

-219,927.64

 

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

786.195

25,276,956

US$31,314m

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$5,501m

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$6,073m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$445m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

29.03

933,379

US$1,155m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.921 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 189.87: +0.45 change from yesterday’s data.

 

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

 

The Miners:

 

Barrick’s (ABX) stock performance for the year, SilverCrest’s (SIL.V) mine rehabilitation and drilling, and Golden Minerals’ (AUMN) drill program were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Freeport

FCX +15.59% $8.97

2.  Turquoise

TRQ +11.21% $2.58

3.  Seabridge

SA +10.49% $10.01

 

LOSERS

1.  Paramount

PZG -0.82% $1.21

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 2nd, 2016
Source: Gold-Seeker.com







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