• Gold: 1,325.14 2.30
  • Silver: 16.58 0.01
  • Euro: 1.218 0.001
  • USDX: 91.131 -0.041
  • Oil: 68.47 0.41

March 16: Gold and Silver Fall Roughly 1% on the Week

Chris Mullen
|
Friday, March 16th

 

Close

Gain/Loss

On Week

Gold

$1313.60

-$2.90

-0.75%

Silver

$16.33

-$0.06

-1.51%

XAU

78.70

-0.14%

-0.25%

HUI

171.16

-0.24%

-1.02%

GDM

598.50

-0.3%

-0.81%

JSE Gold

1050.82

-17.12

-6.73%

USD

90.21

+0.06

+0.09%

Euro

122.87

-0.18

-0.17%

Yen

94.32

+0.21

+0.67%

Oil

$62.34

+$1.15

+0.48%

10-Year

2.845%

+0.020

-1.79%

Bond

145.46875

-0.34375

+0.98%

Dow

24946.51

+0.29%

-1.54%

Nasdaq

7481.99

+0.00%

-1.04%

S&P

2752.01

+0.17%

-1.24%

 
http://www.goldseek.com/news/2018/2018-03-16_14-13-05.jpg

 

The Metals:

 

Gold gained $5.20 to $1321.70 in London before it fell back to $1309.70 at about 11AM EST, but it then chopped back higher into the close and ended with a loss of just 0.22%. Silver waffled between $16.496 and 16.207 and ended with a loss of 0.37%.

 

Euro gold fell to about €1069, platinum lost $2 to $948, and copper dropped a penny to about $3.10.

 

Gold and silver equities fell over 1% by midmorning, but they then rallied to roughly unchanged by midday and remained near that level into the close.

 

The Economy:

 

Job openings hit record high at start of 2018  MarketWatch

Consumer Sentiment in U.S. Jumps to 14-Year High After Tax Cuts  Bloomberg

U.S. industrial output rises on gains in manufacturing, mining  Reuters

U.S. Housing Starts Cooled in February After Robust January  Bloomberg

 

Next week’s economic highlights include Existing Home Sales and a FOMC Meeting Announcement and Press Conference on Wednesday, Initial Jobless Claims, the FHFA House Price Index, and Leading Indicators on Thursday, and Durable Goods Orders and New Home Sales on Friday.

 

The Markets:

 

Oil rose almost 2% on geopolitical uncertainty.

 

The U.S. dollar index ended with a modest gain in mixed trade and treasuries edged lower as the Dow, Nasdaq, and S&P traded mostly higher on steady economic data.

 

Among the big names making news in the market Friday were Overstock, Aramco, Goldman Sachs, Caterpillar, DHL, and Johnson & Johnson.

 

GATA Posts:

 

 

Mike Kosares: Gold's relationship to interest rates isn't so simple

 

The Statistics:

Activity from: 3/15/2018

Gold Warehouse Stocks:

9,075,254.780

-

 

Silver Warehouse Stocks:

256,917,531.482

+992,269.24

 

 

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

838.154

26,947,496

US$35,298m

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$5,829m

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$6,447m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$471m

Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.424 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.74: +0.69 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,922.39: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Silvercorp

SVM +4.28% $2.68

2.  Gold Resource

GORO +3.37% $4.60

3.  Fortuna

FSM +2.16% $4.72

 

LOSERS

1.  Alexco

AXU -4.93% $1.35

2.  Harmony

HMY -4.48% $2.13

3.  New Gold

NGD -2.95% $2.30

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

No votes yet

Article Comments

Sponsored Links

Live SilverSeek Map