Gold Seeker Closing Report: Gold and Silver Chop After Fed Statement
| Close | Gain/Loss |
Gold | $1223.90 | -$2.40 |
Silver | $14.43 | -$0.13 |
XAU | 65.39 | -0.30% |
HUI | 145.76 | -0.07% |
GDM | 536.92 | -0.35% |
JSE Gold | 1121.61 | +7.77 |
USD | 96.68 | +0.56 |
Euro | 113.61 | -0.81 |
Yen | 87.97 | +0.70 |
Oil | $60.67 | -$1.00 |
10-Year | 3.240% | +0.018 |
T-Bond | 137.25 | -0.125 |
Dow | 26191.22 | +0.04% |
Nasdaq | 7530.88 | -0.53% |
S&P | 2806.83 | -0.25% |
The Metals:
Gold dropped $6.10 to $1220.20 at about 8:45AM EST before it popped up to $1226.90 shortly after the fed's statement, but it then chopped back lower into the close and ended with a loss of 0.2%. Silver slipped to as low as $14.385 and ended with a loss of 0.89%.
Euro gold rose above EUR1077, platinum lost $5 to $868, and copper dropped a penny to about $2.73.
Gold and silver equities waffled near unchanged and ended slightly lower.
Fed holds interest rates steady, says economy remains on track Reuters
Here's what changed in the November Fed statement MarketWatch
Fed holds rates steady and stays on course for more gradual hikes MarketWatch
Text of November FOMC statement MarketWatch
Number of Americans getting unemployment benefits falls to lowest level since July 1973 MarketWatch
Mortgage rates surge to a near 8-year high as house-hunters race the clock MarketWatch
Fed is set to keep rates on hold before a hike later in the year CNBC
U.S. weekly jobless claims fall slightly in latest week Reuters
Tomorrow brings PPI, Consumer sentiment, and Wholesale inventories.
The Markets:
Oil fell nearly 2% on signs of rising output from several large producers.
The U.S. dollar index extended higher and treasuries erased brief gains after the fed confirmed its gradual rate hike policy.
The Dow, Nasdaq, and S&P traded mostly lower on concerns about the full impacts of higher interest rates.
Among the big names making news in the market today were Wynn Resorts, Roku, Google, Tesla, Square, and D.R. Horton.
GATA Posts:
Ted Butler: A crack in the dike
Dumping the dollar, Iran and South Korea agree to cross-currency trade
The Statistics:
As of close of business: 11/7/2018
Gold Warehouse Stocks: | 8,020,366.429 | - |
Silver Warehouse Stocks: | 294,499,486.856 | +3,040,819.822 |
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 | 755.232 | 24,281,476 | US$29,712m |
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$5,439m |
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$6,012m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$438m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 1.471 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 272.52: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 10,139.92: No change from yesterday's data.
Alio Gold's (ALO) third quarter results, Golden Star's (GSS) analyst and investor visit, and Hecla's (HL) third quarter results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Standard | GSV +4.17% $1.50 |
2. Coeur | CDE +2.46% $4.99 |
3. Pan American | PAAS +2.43% $14.35 |
LOSERS
1. Americas Silver | USAS-6.86% $1.90 |
2. Tahoe Resources | TAHO-6.48% $2.31 |
3. B2Gold | BTG-3.40% $2.56 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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