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Weekly Wrap-Up - March 18th 2016: Gold and Silver End Slightly Higher on the Week








Chris Mullen | March 18th

 

Close

Gain/Loss

On Week

Gold

$1253.40

-$3.50

+0.26%

Silver

$15.79

-$0.11

+2.13%

XAU

71.17

+0.35%

+4.54%

HUI

181.32

+0.37%

+4.60%

GDM

573.98

+0.18%

+2.68%

JSE Gold

2054.83

-143.93

-1.14%

USD

95.07

+0.30

-1.22%

Euro

112.78

-0.37

+1.12%

Yen

89.65

-0.13

+2.03%

Oil

$39.44

-$0.76

+2.44%

10-Year

1.871%

-0.032

-5.36%

Bond

164.40625

+0.34375

+1.15%

Dow

17602.30

+0.69%

+2.26%

Nasdaq

4795.64

+0.43%

+0.99%

S&P

2049.56

+0.44%

+1.35%

 
 
Metals Charts

 

The Metals:

 

Gold gained $8.58 to $1265.48 in Asia before it dropped down to $1248.01 in London and then bounced back higher in New York, but it still ended with a loss of 0.28%.  Silver slipped to as low as $15.728 and ended with a loss of 0.69%.

 

Euro gold rose to about €1112, platinum lost $13 to $967, and copper fell slightly to about $2.29.

 

Gold and silver equities traded mostly slightly higher and ended with modest gains.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Michigan Sentiment

Mar

90.0

92.2

91.7

 

All of this week’s other economic reports:

 

JOLTS - Job Openings - January

5.541M v. 5.281M

 

Leading Indicators - February

0.1% v. -0.2%

 

Current Account Balance - Q4

-$125.3B v. -$129.9B

 

Philadelphia Fed - March

12.4 v. -2.8

 

Initial Claims - 3/12

265K v. 258K

 

Capacity Utilization - February

76.7% v. 77.1%

 

Industrial Production - February

-0.5% v. 0.8%

 

CPI - February

-0.2% v. 0.0%

 

Core CPI - February

0.3% v. 0.3%

 

Building Permits - February

1167K v. 1204K

 

Housing Starts - February

1178K v. 1120K

 

NAHB Housing Market Index - March

58 v. 58

 

Business Inventories - January

0.1% v. 0.0%

 

Empire Manufacturing - March

0.6 v. -16.6

 

PPI - February

-0.2% v. 0.1%

 

Core PPI - February

0.0% v. 0.4%

 

Retail Sales- February

-0.1% v. -0.4%

 

Retail Sales ex-auto - February

-0.1% v. -0.4%

 

Next week’s economic highlights include Existing Home Sales, the FHFA Housing Price Index, New Home Sales, Initial Jobless Claims, Durable Goods Orders, and GDP.

 

The Markets:

 

Markets Charts

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

 

Oil erased early gains and ended almost 2% lower “after Baker Hughes Inc. data showed that the number of U.S. oil rigs climbed for the first time this year.”

 

The U.S. dollar index rose as the euro fell “after European Central Bank Executive Board member Peter Praet said there was still scope for lower interest rates.”

 

Treasuries continued higher along with the Dow, Nasdaq, and S&P on dovish fed policy.

 

Among the big names making news in the market Friday were Staples, Office Depot, Tiffany’s, Valeant, Starwood, and PayPal.

 

GATA Posts:

 

 

ECB's bazooka has not run out of ammunition, chief economist says

India's gold paperizing scheme strains for its fourth tonne of metal

Financial letter writer, mining investor Ian McAvity dies

Alasdair Macleod: The European Central Bank and John Law

 

The Statistics:

Activity from: 3/17/2016

Gold Warehouse Stocks:

6,856,956.319

+62,637.53

Silver Warehouse Stocks:

155,074,562.128

+545,489.85

 

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

807.092

25,948,810

US$32,484m

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$5,561m

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$6,154m

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 11.893 tonnes.

 

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

 

Silver Trust (SLV) Total Tonnes in Trust: 10,135.66: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Paramount

PZG +6.49% $1.29

2.  Gold Resource

GORO +6.09% $2.44

3.  First Majestic

AG +4.83% $6.73

 

LOSERS

1.  Gold Fields

GFI -4.57% $3.76

2.  Primero

PPP -4.41% $1.95

3.  Turquoise

TRQ -3.73% $2.84

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 18th, 2016
Source: Gold-Seeker.com







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