• Gold: 1,179.55 -14.79
  • Silver: 14.46 -0.61
  • Euro: 1.132 -0.002
  • USDX: 96.819 -0.002
  • Oil: 64.69 -1.94

March 23: Gold and Silver Gain on the Week While Stocks Drop 6%

Chris Mullen
|
Friday, March 23rd

 

Close

Gain/Loss

On Week

Gold

$1345.70

+$17.40

+2.44%

Silver

$16.53

+$0.14

+1.22%

XAU

81.50

+2.66%

+3.56%

HUI

176.86

+3.01%

+3.33%

GDM

616.94

+2.55%

+3.08%

JSE Gold

1131.26

+41.30

+7.65%

USD

89.45

-0.33

-0.84%

Euro

123.56

+0.45

+0.56%

Yen

95.70

+0.61

+1.46%

Oil

$65.88

+$1.58

+5.68%

10-Year

2.812%

-0.009

-1.16%

Bond

145.00

+0.25

-0.32%

Dow

23533.20

-1.77%

-5.67%

Nasdaq

6992.67

-2.43%

-6.54%

S&P

2588.26

-2.10%

-5.95%

 
http://www.goldseek.com/news/2018/2018-03-23_14-02-12.jpg

 

The Metals:

 

Gold climbed $21.90 to as high as $1350.20 by midmorning in New York before it chopped back lower at times, but it still ended with a gain of 1.31%. Silver jumped up to $16.664 and ended with a gain of 0.85%.

 

Euro gold rose to about €1088, platinum lost $5 to $942, and copper fell 4 cents to about $3.00.

 

Gold and silver equities rose over 3% by midday and remained near that level for the rest of the day.

 

The Economy:

 

Trump says he has signed $1.3 trillion spending bill into law  Reuters

New-Home Sales in U.S. Cool for Third Month as Prices Surge  Bloomberg

With China tariffs, Trump barks but doesn't bite  MarketWatch

Durable-goods orders snap back with 3.1% gain as business investment surges  MarketWatch

 

Next week’s economic highlights include S&P Corelogic Case-Shiller HPI and Consumer Confidence on Tuesday, GDP, International Trade in Goods, and Pending Home Sales on Wednesday, and Initial Jobless Claims, Personal Income and Outlays, Chicago PMI, and Consumer Sentiment on Thursday.

 

The Markets:

 

Oil rose 2.5% “after the Saudi energy minister said OPEC and allied producers would need to keep coordinating supply cuts into 2019.”

 

The U.S. dollar index dropped and treasuries edged higher in late trade as the Dow, Nasdaq, and S&P fell back off into the close and ended roughly 2% lower on trade war worries.

 

Among the big names making news in the market Friday were Tesla, Dropbox, Bank of America, Nike, Target, and Lands’ End.

 

GATA Posts:

 

 

Trump threatens to veto spending bill, raising government shutdown risk  Reuters

New-Home Sales in U.S. Cool for Third Month as Prices Surge  Bloomberg

With China tariffs, Trump barks but doesn't bite  MarketWatch

Durable-goods orders snap back with 3.1% gain as business investment surges  MarketWatch

 

The Statistics:

Activity from: 3/22/2018

Gold Warehouse Stocks:

9,060,591.220

-

Silver Warehouse Stocks:

259,003,039.303

+1,190,605.40

 

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

850.543

27,345,794

US$36,815m

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$5,994m

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$6,626m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$484m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,942.90: No change from yesterday’s data.

 

The Miners:

 

Centerra Gold’s (CG.TO) restarted ball mill circuit and Agnico Eagle’s (AEM) completed 43-101 technical report were among the big stories in the gold and silver mining industry making headlines Friday.

 

WINNERS

1.  AngloGold

AU +5.93% $9.65

2.  Kinross

KGC +5.79% $3.84

3.  Alamos

AGI +5.06% $5.40

 

LOSERS

1.  Taseko

TGB -4.13% $1.16

2.  Freeport

FCX -2.94% $17.52

3.  Nevsun

NSU -1.32% $2.25

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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