Gold Seeker Closing Report: Gold and Silver Fall Over 1% With Stocks and Oil
| Close | Gain/Loss |
Gold | $1318.60 | -$14.60 |
Silver | $16.42 | -$0.21 |
XAU | 78.97 | -2.82% |
HUI | 173.05 | -2.83% |
GDM | 603.45 | -2.01% |
JSE Gold | 1083.86 | -20.56 |
USD | 90.40 | +0.55 |
Euro | 122.33 | -0.87 |
Yen | 93.27 | -0.37 |
Oil | $63.01 | -$0.90 |
10-Year | 2.901% | +0.038 |
T-Bond | 143.6875 | -0.53125 |
Dow | 25410.03 | -1.16% |
Nasdaq | 7330.35 | -1.23% |
S&P | 2744.28 | -1.27% |
The Metals:
Gold edged up to $1334.70 in Asia, but it then fell all of the way back to $1313.50 in early afternoon New York trade and ended with a loss of 1.095%. Silver slipped to as low as $16.331 and ended with a loss of 1.26%.
Euro gold fell to about EUR1078, platinum lost $17 to $980, and copper fell 5 cents to about $3.15.
Gold and silver equities lost over 2% by midmorning and remained near that level for the rest of the day.
Fed's Powell nods to 'gradual' rate hikes, close eye on inflation Reuters
Powell Sees Gradual Rate Hikes Amid Strong U.S. Growth Outlook Bloomberg
U.S. Consumer Confidence Is at 17-Year High Bloomberg
US advanced goods trade balance -74.4B vs -72.3B expected forexlive
US FHFA Dec house price index 0.3% vs 0.4% prev forexlive
Home prices accelerated in December, Case-Shiller shows MarketWatch
Orders for U.S. Business Equipment Unexpectedly Fell in January Bloomberg
Tomorrow brings GDP, Chicago PMI, and Pending Home Sales.
The Markets:
Oil dropped over 1% as the U.S. dollar index rose and treasuries fell along with the Dow, Nasdaq, and S&P on Powell's commitment to a gradual approach towards raising interest rates.
Among the big names making news in the market today were Disney, Google, GE, JPMorgan, Macy's, and Comcast.
GATA Posts:
Scotiabank won't sell metals business after all
Hong Kong exchange wants gold trading corridor along 'Belt and Road'
Silver deeply in backwardation and on verge of breakout, Turk tells KWN
The Statistics:
As of close of business: 2/26/2018
Gold Warehouse Stocks: | 9,132,854.478 | - |
Silver Warehouse Stocks: | 248,481,884.333 | +1,437,041.28 |
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 | 831.034 | 26,718,580 | US$35,412m |
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$5,847m |
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$6,464m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$473m |
Note: Change in Total Tonnes from yesterday's data: SPDR added 1.77 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 266.00: +0.89 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,847.08: No change from yesterday's data.
WINNERS
1. Avino | ASM +2.36% $1.30 |
2. Turquoise | TRQ +1.74% $2.92 |
LOSERS
1. Taseko | TGB -12.1% $1.38 |
2. Paramount | PZG -5.88% $1.28 |
3. Gold Resource | GORO-5.78% $4.24 |
Winners & Losers tracks NYSE 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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