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Weekly Wrap-Up: Gold and Silver Gain About 3% and 5% on the Week - March 4th 2016








Chris Mullen | March 4th

 

Close

Gain/Loss

On Week

Gold

$1260.80

-$1.40

+2.98%

Silver

$15.49

+$0.27

+5.23%

XAU

66.75

-0.19%

+7.85%

HUI

171.96

-0.80%

+6.45%

GDM

550.21

-0.14%

+5.02%

JSE Gold

2169.04

+130.93

+5.24%

USD

97.27

-0.28

-0.84%

Euro

110.07

+0.51

+0.65%

Yen

87.78

-0.18

+0.03%

Oil

$35.92

+$1.35

+9.58%

10-Year

1.883%

+0.053

+6.87%

Bond

163.71875

-1.09375

-1.21%

Dow

17006.77

+0.37%

+2.20%

Nasdaq

4717.02

+0.20%

+2.76%

S&P

1999.99

+0.33%

+2.67%

 
 

 

The Metals:

 

Gold fell $8.51 to $1253.69 just after the release of this morning’s jobs data before it rallied to see a gain of $17.58 at $1279.78 in the next 90 minutes of trade, but it then drifted back lower into the close and ended with a loss of 0.11%.  Silver rose to as high as $15.786 before it also fell back off, but it still ended with a gain of 1.77%.

 

Euro gold fell to about 1146, platinum gained $31 to $977, and copper climbed 5 cents to about $2.27.

 

Gold and silver equities saw about 4% gains for most of the morning, but they then fell back off in afternoon trade and ended with  modest losses on the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Nonfarm Payrolls

Feb

242K

190K

172K

Unemployment Rate

Feb

4.9%

4.9%

4.9%

Hourly Earnings

Feb

-0.1%

0.2%

0.5%

Average Workweek

Feb

34.4

34.6

34.6

Trade Balance

Jan

-$45.7B

-$44.0B

-$44.7B

 

The BLS net birth/death adjustment added 129,000 payrolls to February’s data.  Private Payrolls rose 230,000.

 

All of this week’s other economic reports:

 

ISM Services - February

53.4 v. 53.5

 

Initial Claims - 2/27

278K v. 272K

 

Factory Orders - January

1.6% v. -2.9%

 

Productivity - Q4

-2.2% v. -3.0%

 

Unit Labor Costs - Q4

3.3% v. 4.5%

 

ADP Employment - February

214K v. 205K

 

ISM Index - February

49.5 v. 48.2

 

Construction Spending - January

1.5% v. 0.6%

 

Pending Home Sales - January

-2.5% v. 0.9%

 

Chicago PMI - February

47.6 v. 55.6

 

The Markets:

 

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

 

Oil rose nearly 4% on further signs of falling US production after Baker Hughes reported that the number of active rigs drilling for crude in the U.S. fell by 8 to 392.

 

The U.S. dollar index dropped after today’s reported drop in hourly earnings indicated that the fed may not be in a rush to hike interest rates again.

 

Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on the larger than expected rise in the headline jobs number.

 

Among the big names making news in the market Friday were Apple, HSBC, and Vale.

 

GATA Posts:

 

 

Gold demand trips up BlackRock as ETF suspends share creation

BlackRock stops issuing shares in gold ETF as demand explodes

Alasdair Macleod: Brexit and a Hanseatic League

 

The Statistics:

Activity from: 3/3/2016

Gold Warehouse Stocks:

6,816,892.643

+28,101.20

Silver Warehouse Stocks:

150,438,107.363

-1,747,335.961

 

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

793.332

25,506,414

US$32,574m

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$5,629m

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$6,238m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$452m

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 4.758 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 190.77: +0.63 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,946.17: +168.78 change from yesterday’s data.

 

The Miners:

 

AuRico’s (AMI.TO) Environmental Assessment Application, Kinross Gold’s (KGC) completed financing, Endeavour Mining’s (EDV.TO) arrangement agreement with True Gold Mining Inc. (TGM.V), Pan American’s (PAAS) early warning report, MAG Silver’s (MVG) over-allotment option, and Endeavour Silver’s (EXK) 2015 results were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Endeavour Silver

EXK +11.7% $2.10

2.  B2Gold

BTG +7.69% $1.26

3.  Fortuna

FSM +7.48% $3.88

 

LOSERS

1.  Gold Standard

GSV -9.81% $1.01

2.  IAMGOLD

IAG -6.61% $2.40

3.  Harmony

HMY -6.25% $3.15

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 4th, 2016
Source: Gold-Seeker.com







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