Gold climbed over 1% to $1703.57 in early London trade before it fell back to $1689.40 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended near its late session high of $1703.72 with a gain of 0.91%.Silver rose to $34.145 before it slipped back to $33.37, but it also rallied back higher in late trade and ended with a gain of 1.35%.
Euro gold remained at about €1282, platinum gained $25.50 to $1652, and copper rose a couple of cents to about $3.79.
Gold and silver equities rose about 1.5% by early afternoon and remained near that level for the rest of the day.
Tomorrow at 8:30AM EST brings February’s jobs data and the Trade Balance for January expected at -$48.2 billion.Nonfarm Payrolls are expected at 206,000, the Unemployment Rate is expected at 8.3%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.5.At 10AM is the Wholesale Inventories report for January expected at 0.6%.
Oil rose as the U.S. dollar index and treasuries fell on optimism over a debt swap deal for Greece that sent the Dow, Nasdaq, and S&P higher.
“Greece closed a bond swap offer to private creditors on Thursday after clearing the minimum threshold of acceptance to push the deal through, moving closer to unlocking funds it needs to avoid a dangerous debt default.
Government officials said before the final deadline for declaring interest passed at 2000 GMT that more than 75 percent of eligible bonds had already been committed.”
Among the big names making news in the market today were BMW, Exxon Mobil, AIG, McDonald’s, Facebook, and Fender.
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)
SPDR® Gold Shares
1293.676
41,592,971
US$70,259m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
118.63
3,813,918
US$6,464m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
126.23
4,058,350
US$6,985m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
472,676
US$775m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.75
1,278,146
US$2,144m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,763.25: No change from yesterday’s data.
Tanzanian Royalty’s (TRX) drilling program, Indonesia’s mine rules, AuRico’s (AUQ) monthly update, and Lake Shore’s (LSG) royalty and equity investment agreements with Franco-Nevada Corporation (FNV) were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1.Tanzanian Royalty
TRX +7.18% $4.18
2.Mag Silver
MVG +6.69% $10.36
3.New Gold
NGD +4.27% $10.74
LOSERS
1.Avino
ASM -2.69% $2.17
2.Midway
MDW-2.44% $1.60
3.Entree
EGI -2.24% $1.31
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
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.
Chris Mullen has been the Chief Content Manager of GoldSeek.com, SilverSeek.com, UraniumSeek.com, GoldReview.com, CapitalUpdates.com, and Gold-Seeker.com since 2004. Sign up for free email lists from these sites at http://email.goldseek.com/
-1.16%
0.28%
-0.11%
Gold Seeker Closing Report: Gold and Silver Gain About 1%
Close
Gain/Loss
Gold
$1700.40
+$15.40
Silver
$33.80
+$0.45
XAU
187.89
+1.20%
HUI
509.41
+1.30%
GDM
1477.05
+1.18%
JSE Gold
2556.05
-21.88
USD
79.16
-0.54
Euro
132.70
+1.21
Yen
122.56
-0.77
Oil
$106.58
+$0.42
10-Year
2.014%
+0.042
T-Bond
1142.125
-0.8125
Dow
12907.94
+0.55%
Nasdaq
2970.42
+1.18%
S&P
1365.91
+0.98%
The Metals:
Gold climbed over 1% to $1703.57 in early London trade before it fell back to $1689.40 at about 10AM EST, but it then rallied back higher for most of the rest of trade and ended near its late session high of $1703.72 with a gain of 0.91%.Silver rose to $34.145 before it slipped back to $33.37, but it also rallied back higher in late trade and ended with a gain of 1.35%.
Euro gold remained at about €1282, platinum gained $25.50 to $1652, and copper rose a couple of cents to about $3.79.
Gold and silver equities rose about 1.5% by early afternoon and remained near that level for the rest of the day.
The Economy:
Report
For
Reading
Expected
Previous
Initial Claims
3/03
362K
355K
355K
Consumer Confidence in U.S. Rises Bloomberg
15-year fixed-rate mortgage hits record low MarketWatch
Job Cuts Fell 3.3% in February: Challenger Report CNBC
Tomorrow at 8:30AM EST brings February’s jobs data and the Trade Balance for January expected at -$48.2 billion.Nonfarm Payrolls are expected at 206,000, the Unemployment Rate is expected at 8.3%, Hourly Earnings are expected at 0.2%, and the Average Workweek is expected at 34.5.At 10AM is the Wholesale Inventories report for January expected at 0.6%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as the U.S. dollar index and treasuries fell on optimism over a debt swap deal for Greece that sent the Dow, Nasdaq, and S&P higher.
“Greece closed a bond swap offer to private creditors on Thursday after clearing the minimum threshold of acceptance to push the deal through, moving closer to unlocking funds it needs to avoid a dangerous debt default.
Government officials said before the final deadline for declaring interest passed at 2000 GMT that more than 75 percent of eligible bonds had already been committed.”
Among the big names making news in the market today were BMW, Exxon Mobil, AIG, McDonald’s, Facebook, and Fender.
GATA Posts:
Pat Heller: Liberty Dollar's von Not Haus did nothing wrong or unusual
China offers renminbi loans to other BRICs
Agitation in Switzerland and Germany to bring their gold home from U.S.
Jim Sinclair: Monetary doubletalk beyond MOPE
The Statistics:
Activity from: 3/07/2012
Gold Warehouse Stocks:
11,440,859
-
Silver Warehouse Stocks:
130,477,075
+2,603,383
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)
SPDR® Gold Shares
1293.676
41,592,971
US$70,259m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
118.63
3,813,918
US$6,464m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
126.23
4,058,350
US$6,985m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
472,676
US$775m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
39.75
1,278,146
US$2,144m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 182.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,763.25: No change from yesterday’s data.
The Miners:
Tanzanian Royalty’s (TRX) drilling program, Indonesia’s mine rules, AuRico’s (AUQ) monthly update, and Lake Shore’s (LSG) royalty and equity investment agreements with Franco-Nevada Corporation (FNV) were among big stories in the gold and silver mining industry making headlines today.
WINNERS
1.Tanzanian Royalty
TRX +7.18% $4.18
2.Mag Silver
MVG +6.69% $10.36
3.New Gold
NGD +4.27% $10.74
LOSERS
1.Avino
ASM -2.69% $2.17
2.Midway
MDW-2.44% $1.60
3.Entree
EGI -2.24% $1.31
Winners & Losers tracks NYSE and AMEX 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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©Gold Seeker 2012
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.
About Chris Mullen