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Weekly Wrap-Up - March 24th 2016: Gold and Silver Fall Almost 3% and 4% On The Week








Chris Mullen | March 24th

Please Note: US markets are closed tomorrow in observance of Good Friday.

 

 

Close

Gain/Loss

On Week

Gold

$1217.20

-$3.20

-2.89%

Silver

$15.17

-$0.08

-3.93%

XAU

67.48

+2.09%

-5.18%

HUI

171.40

+2.00%

-5.47%

GDM

540.46

+1.47%

-5.84%

JSE Gold

2016.08

+17.74

-1.89%

USD

96.13

+0.05

+1.11%

Euro

111.80

+0.01

-0.87%

Yen

88.64

-0.30

-1.13%

Oil

$39.46

-$0.33

+0.05%

10-Year

1.900%

+0.025

+1.55%

Bond

162.84375

-0.65625

-0.95%

Dow

17515.73

+0.08%

-0.49%

Nasdaq

4773.50

+0.10%

-0.46%

S&P

2035.94

-0.04%

-0.66%

 
 
Precious Metals Intraday Charts

 

The Metals:

 

Gold fell $7.60 to $1212.80 in Asia before it bounced back to $1223.73 at about 8:45AM EST and then chopped back lower at times, but it ended with a loss of just 0.26%.  Silver slipped down to $15.146 before it also rebounded, but it still ended with a loss of 0.52%.

 

Euro gold fell to about €1089, platinum lost $6 to $949, and copper fell slightly to about $2.24.

 

Gold and silver equities rose about 2% by midday and remained near that level into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Initial Claims

3/19

265K

268K

259K

Durable Goods

Feb

-2.8%

-2.9%

4.2%

Durable Goods -ex trans.

Feb

-1.0%

-0.2%

1.2%

 

Tomorrow brings GDP for the fourth quarter.

 

All of this week’s other economic reports:

 

New Home Sales - February

512K v. 502K

 

FHFA Housing Price Index - January

0.5% v. 0.5%

 

Existing Home Sales - February

5.08M v. 5.47M

 

Next week’s economic highlights include Personal Income and Spending, PCE Prices, and Pending Home Sales on Monday, the Case-Shiller 20-city Index and Consumer Confidence on Tuesday, ADP Employment on Wednesday, Initial Jobless Claims and Chicago PMI on Thursday, and March’s jobs data, Construction Spending, the ISM Index, Michigan Sentiment, and Construction Spending on Friday.

 

The Markets:

 

Markets Intraday Charts

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

 

Oil remained weak on yesterday’s large jump in crude inventories.

 

The U.S. dollar index held onto this week’s gains and treasuries fell on the view that the fed may raise interest rates at their meeting next month.

 

The Dow, Nasdaq, and S&P traded mostly lower but ended near unchanged in relatively quiet trade ahead of the three-day weekend.

 

Among the big names making news in the market Friday were VW, Apple, and Yahoo.

 

The Statistics:

Activity from: 3/23/2016

Gold Warehouse Stocks:

6,821,280.859

-9,449.477

Silver Warehouse Stocks:

155,842,443.338

-60,555.66

 

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

821.661

26,417,207

US$32,247m

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$5,423m

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$5,989m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$438m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

32.71

1,051,626

US$1,280m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 193.02: +0.30 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,230.39: No change from yesterday’s data.

 

The Miners:

 

Alamos Gold’s (AGI) mineral reserves and 2015 results, Fortuna’s (FSM) mineral reserves, and Excellon’s (EXN.TO) 2015 results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

1.  First Majestic

AG +4.56% $6.65

2.  Pan American

PAAS +4.41% $10.65

3.  Seabridge

SA +4.00% $10.65

 

LOSERS

1.  DRDGOLD

DRD -4.31% $3.77

2.  Alexco

AXU -2.88% $1.01

3.  Eldorado

EGO -2.87% $3.05

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 24th, 2016
Source: Gold-Seeker.com







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