• Gold: 1,244.94 1.80
  • Silver: 14.65 0.09
  • Euro: 1.134 0.001
  • USDX: 97.372 -0.016
  • Oil: 52.65 0.68

March 8: Gold and Silver Chop Near Unchanged

Chris Mullen
|
Thursday, March 8th

 

Close

Gain/Loss

Gold

$1322.10

-$3.10

Silver

$16.48

UNCH

XAU

78.97

+0.23%

HUI

173.54

+0.07%

GDM

605.40

-0.08%

JSE Gold

1120.34

-17.90

USD

90.13

+0.55

Euro

123.15

-0.98

Yen

94.15

-0.20

Oil

$60.12

-$1.05

10-Year

2.860%

-0.022

T-Bond

144.6875

+0.5625

Dow

24895.21

+0.38%

Nasdaq

7427.95

+0.42%

S&P

2738.97

+0.45%

 
http://www.goldseek.com/news/2018/2018-03-08_14-06-41.jpg

 

The Metals:

 

Gold fell $6.10 to $1319.10 in late morning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.23%. Silver traded between $16.564 and $16.426 and ended unchanged on the day.

 

Euro gold rose to about €1074, platinum remained at $950, and copper dropped 6 cents to about $3.07.

 

Gold and silver equities ended slightly higher in mixed trade.

 

The Economy:

 

U.S. Household Debt Rose Last Quarter at Fastest Rate Since 2007  Bloomberg

Trump says he'll stick to tariff levels; Mexico, Canada reject pressure  Reuters

Mortgage rates clock a ninth straight weekly gain  MarketWatch

U.S. weekly jobless claims back off 48-year low  Reuters

 

Tomorrow brings February’s jobs data and Wholesale Trade.

 

The Markets:

 

Oil fell almost 2% more in continued reaction to yesterday’s reported rise in supplies and domestic production.

 

The U.S. dollar index found notable gains as the euro fell after ECB President Draghi emphasized the dovish elements of their current policy.

 

Treasuries rose as the Dow, Nasdaq, and S&P waffled near unchanged on uncertainty about the impacts of Trump’s tariff plan.

 

Among the big names making news in the market today were Snap, Burlington Stores, American Eagle, Cigna, and Kroger.

 

GATA Posts:

 

 

Hugo Salinas Price: Without trade deficits, U.S. dollar can't be world reserve currency

Wyoming legislature passes bill to end taxation of gold and silver

Reuters exclusive: Five banks open up trillion-dollar gold club

 

The Statistics:

As of close of business: 3/7/2018

Gold Warehouse Stocks:

9,125,608.135

+20,099.639

Silver Warehouse Stocks:

251,707,669.679

-16,830.052

 

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

833.730

26,805,241

US$35,407m

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$5,860m

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$6,477m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$474m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.254 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 265.05: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,893.07: No change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Paramount

PZG +7.14% $1.35

2.  Harmony

HMY +7.01% $2.29

3.  Coeur

CDE +3.48% $8.03

 

LOSERS

1.  Americas Silver

USAS -6.13% $3.37

2.  Taseko

TGB -6.11% $1.23

3.  Franco-Nevada

FNV -4.39% $67.69

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

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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