• Gold: 1,244.25 -4.16
  • Silver: 14.55 -0.07
  • Euro: 1.137 -0.004
  • USDX: 97.082 0.568
  • Oil: 51.53 -0.6

March 12: Gold and Silver Erase Early Losses To End Near Unchanged

Chris Mullen
|
Monday, March 12th

 

Close

Gain/Loss

Gold

$1323.70

+$0.20

Silver

$16.55

-$0.03

XAU

79.67

+0.98%

HUI

174.41

+0.86%

GDM

607.04

+0.60%

JSE Gold

1105.94

-20.68

USD

89.88

-0.25

Euro

123.42

+0.34

Yen

94.06

+0.37

Oil

$61.36

-$0.68

10-Year

2.867%

-0.030

T-Bond

144.75

+0.59375

Dow

25178.61

-0.62%

Nasdaq

7588.32

+0.36%

S&P

2783.02

-0.13%

 
http://www.goldseek.com/news/2018/2018-03-12_14-06-45.jpg

 

The Metals:

 

Gold fell $9.10 to $1314.40 at about 8AM EST, but it then rallied back higher throughout most of trade in New York and ended with a gain of 0.015%. Silver slipped to as low as $16.438 and ended with a loss of 0.18%.

 

Euro gold fell to about €1073, platinum remained at $962, and copper dropped a penny to about $3.12.

 

Gold and silver equities saw slight losses for most of the morning, but they then climbed higher in afternoon trade and ended with gains of nearly 1%.

 

The Economy:

 

U.S. February budget report shows first sign of wider deficits to come  MarketWatch

Bond Traders Haven't Been So Leery of U.S. Auctions Since the Crisis  Bloomberg

U.S. inflation expectations rise: New York Fed survey  Reuters

Commerce secretary to push EU to lower tariffs: Trump  Reuters

 

Tomorrow brings CPI.

 

The Markets:

 

Oil fell over 1% on concerns about rising US production after the EIA released a report forecasting more output from some of the bigger shale plays.

 

The U.S. dollar index drifted lower and treasuries rose on doubts the fed will be aggressive with their stance on interest rate hikes.

 

The Dow, Nasdaq, and S&P traded mixed on uncertainty about tariffs and inflation.

 

Among the big names making news in the market today were Broadcom, Dropbox, and Goldman Sachs.

 

GATA Posts:

 

 

Ralph Benko: Trade deficits are the price of issuing the world reserve currency

Ed Steer: Another very interesting CoT report

Alabama exempts gold and silver bullion and coins from sales tax

 

The Statistics:

As of close of business: 3/09/2018

Gold Warehouse Stocks:

9,124,611.485

-

Silver Warehouse Stocks:

252,110,032.514

-173,610.01

 

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$35,355m

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$5,853m

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$6,472m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$475m

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

 

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.  Gold Resource

GORO +4.59% $4.56

2.  Tahoe Resources

TAHO +2.99% $4.82

3.  Barrick

ABX +2.62% $12.13

 

LOSERS

1.  Seabridge

SA -4.13% $10.45

2.  Paramount

PZG -3.03% $1.28

3.  Sibanye

SBGL -1.90% $4.12

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

 

- Chris Mullen, Gold Seeker Report

 

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