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Weekly Wrap-Up: Gold And Silver End Slightly Lower On The Week - March 11th 2016








Chris Mullen | March 11th

 

Close

Gain/Loss

On Week

Gold

$1250.20

-$20.60

-0.84%

Silver

$15.46

-$0.10

-0.19%

XAU

68.08

-1.72%

+1.99%

HUI

175.35

-2.03%

+0.81%

GDM

559.02

-0.93%

+1.60%

JSE Gold

2078.49

-2.65

-4.17%

USD

96.24

+0.03

-1.06%

Euro

111.53

-0.27

+1.33%

Yen

87.87

-0.47

+0.10%

Oil

$38.50

+$0.66

+7.18%

10-Year

1.977%

+0.048

+4.99%

Bond

162.53125

-1.1875

-0.73%

Dow

17213.31

+1.28%

+1.21%

Nasdaq

4748.46

+1.85%

+0.67%

S&P

2022.19

+1.64%

+1.11%

 
 
metals chart

 

The Metals:

 

Gold jumped up to $1282.75 in early Asian trade, but it then fell back off for most of the rest of the day and ended with a loss of 1.62%.  Silver slipped to as low as $15.454 and ended with a loss of 0.64%.

 

Euro gold fell to about €1121, platinum lost $16 to $960, and copper climbed a couple of cents to about $2.24.

 

Gold and silver equities saw slight gains at the open, but they then drifted back lower into the close and ended with about 2% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Export Prices

Feb

-0.4%

-

-0.8%

Export Prices ex-ag.

Feb

-0.4%

-

-0.9%

Import Prices

Feb

-0.3%

-

-1.0%

Import Prices ex-oil

Feb

-0.1%

-

0.0%

 

All of this week’s other economic reports:

 

Treasury Budget - February

-$192.6B v. -$192.4B

 

Initial Claims - 3/05

259K v. 277K

 

Wholesale Inventories - January

0.3% v. 0.0%

 

Consumer Credit - January

$10.5B v. $6.4B

 

The Markets:

 

market charts

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

 

Oil rose almost 2% after the International Energy Agency said “that prices might have bottomed out.”

 

The U.S. dollar index ended near unchanged in mixed trade.

 

Treasuries fell as the Dow, Nasdaq, and S&P rose over 1% on relief over oil’s rebound.

 

Among the big names making news in the market Friday were Symantec, GE, VW, and Ford.

 

GATA Posts:

 

 

Gold just collects dust? Two more financial companies disagree

TF Metals Report interviews GATA chairman on resilience of monetary metals

Ambrose Evans-Pritchard: ECB's Draghi plays his last card to stave off deflation

 

The Statistics:

Activity from: 3/10/2016

Gold Warehouse Stocks:

6,815,312.739

-196.15

Silver Warehouse Stocks:

155,635,896.738

+553,513.86

 

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

798.767

25,681,155

US$32,476m

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$5,594m

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$6,178m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$450m

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 5.947 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 191.52: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,076.45: +41.45 change from yesterday’s data.

 

The Miners:

 

McEwen’s (MUX) 2015 results and Pretivm’s (PVG) private placement were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  Coeur

CDE +2.86% $5.03

2.  Gold Standard

GSV +2.04% $1.00

3.  Turquoise

TRQ +1.85% $2.75

 

LOSERS

1.  Eldorado

EGO -6.63% $3.38

2.  Endeavour Silver

EXK -6.23% $2.56

3.  NovaGold

NG -5.19% $5.11

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 11th, 2016
Source: Gold-Seeker.com







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