Gold Seeker Closing Report: Gold Gains While Stocks Drop
| Close | Gain/Loss |
Gold | $1316.80 | +$3.20 |
Silver | $16.33 | UNCH |
XAU | 78.66 | -0.06% |
HUI | 171.11 | -0.03% |
GDM | 599.54 | +0.17% |
JSE Gold | 1061.67 | +10.85 |
USD | 89.87 | -0.34 |
Euro | 123.38 | +0.51 |
Yen | 94.23 | -0.09 |
Oil | $62.06 | -$0.28 |
10-Year | 2.852% | +0.007 |
T-Bond | 145.3125 | -0.125 |
Dow | 24610.91 | -1.35% |
Nasdaq | 7344.24 | -1.84% |
S&P | 2712.92 | -1.42% |
The Metals:
Gold dipped $6 to $1307.60 in Asia before it jumped up to $1319.60 in early afternoon New York trade and then drifted back lower into the close, but it still ended with a gain of 0.24%. Silver slipped to as low as $16.21 and ended unchanged on the day.
Euro gold fell to about EUR1067, platinum gained $3 to $951, and copper fell 3 cents to about $3.07.
Gold and silver equities waffled near unchanged and ended mixed.
Powell's Fed to show policy caution, shun political friction Reuters
EU agrees Brexit transition, UK renews Irish border vow Reuters
5 things to watch from the Fed decision MarketWatch
Tomorrow brings the start of the Federal Open Market Committee Meeting.
The Markets:
Oil dropped 0.5% on rising shale output.
The U.S. dollar index fell as the euro and pound rose after "Britain and the European Union agreed on Monday to a transition period to avoid a 'cliff edge' Brexit next year."
Treasuries traded mixed as optimism about Brexit was offset by a rout in the tech sector after Facebook's data was revealed to have been used improperly.
The Dow, Nasdaq, and S&P lost nearly 2% on concerns about the data breach.
Among the big names making news in the market today were Barclays, Ford, KLA-Tencor, and Facebook.
GATA Posts:
U.S. bank derivatives books larger since rescue of Bear Stearns
Iran's break with the dollar is easier said than done
This $8.8 billion fund sees financial stress spurring a gold rally
Stephen Englander: Why the U.S. Treasury likes a weak dollar
The Statistics:
As of close of business: 3/16/2018
Gold Warehouse Stocks: | 9,070,432.280 | -4,822.50 |
Silver Warehouse Stocks: | 256,857,379.602 | -60,151.88 |
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(R) Gold Shares | 840.219 | 27,013,881 | US$35,446m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,854m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,469m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$473m |
Note: Change in Total Tonnes from yesterday's data: SPDR added 2.065 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 266.04: +0.30 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: No change from yesterday's data.
Barrick's (ABX) director nomination, Alio Gold's (ALO) plans to acquire Rye Patch (RPM.V), First Majestic's (AG) share repurchase program, and Hecla's (HL) acquisition of Klondex (KDX.TO) were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. NOVAGOLD | NG +7.60% $4.39 |
2. Avino | ASM +4.72% $1.33 |
3. New Gold | NGD +4.35% $2.40 |
LOSERS
1. Hecla | HL -13.51% $3.33 |
2. Alio Gold | ALO-10.54% $2.165 |
3. B2GOLD | BTG -5.50% $2.75 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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