Gold Seeker Closing Report: Gold and Silver Close Higher After Mixed Fed Reaction
| Close | Gain/Loss |
Gold | $1300.10 | +$4.00 |
Silver | $17.07 | +$0.21 |
XAU | 83.79 | -0.03% |
HUI | 180.22 | -0.03% |
GDM | 625.34 | -0.38% |
JSE Gold | 1059.80 | -0.25 |
USD | 93.58 | -0.22 |
Euro | 117.91 | +0.40 |
Yen | 90.66 | +0.01 |
Oil | $66.64 | +$0.28 |
10-Year | 2.974% | +0.014 |
T-Bond | 143.59375 | -0.15625 |
Dow | 25201.20 | -0.47% |
Nasdaq | 7695.70 | -0.11% |
S&P | 2775.63 | -0.40% |
The Metals:
Gold dipped $3.50 to $1292.60 in Asia before it bounced back to $1299.00 by late morning in New York and then fell back to $1292.90 after today's fed statement, but it then shot up to a new session high of $1301.00 in the last minutes of trade and ended with a gain of 0.31%. Silver climbed up to $16.992 before it also dropped in early afternoon trade, but it then jumped to a new session high of $17.106 and ended with a gain of 1.25%.
Euro gold fell under EUR1103, platinum gained $4 to $901, and copper gained a penny to about $3.25.
Gold and silver equities ended barely lower in mixed trade.
Fed hikes rates, points to two more increases by year's end CNBC
Fed hikes interest rates, now sees 4 moves this year MarketWatch
Expensive gasoline pushes up U.S. producer prices in May Reuters
U.S. mortgage applications fall as loan rates rebound Reuters
The Markets:
Oil turned modestly higher after the Energy Information Administration reported that crude inventories fell 4.1 million barrels, gasoline inventories fell 2.3 million barrels, and distillates fell 2.1 million barrels.
The U.S. dollar index briefly reversed morning losses and treasuries turned lower after the fed affirmed guidance for 4 interest rate hikes this year, but the dollar then fell to new session lows by the close and bonds pared losses as attention turned to tomorrow's ECB meeting.
The Dow, Nasdaq, and S&P dropped in late trade and ended modestly lower on concerns about a faster pace of rate hikes from a variety of central banks.
Among the big names making news in the market today were Adyen, H&R Block, Toyota, Intel, AMD, Nvidia, and AT&T-Time Warner.
GATA Posts:
U.S. paper gold suppression allows Russia and China to buy real gold at discount
London's gold market demands green credentials for producers
Tether was used to manipulate bitcoin price, study says
The Statistics:
As of close of business: 6/12/2018
Gold Warehouse Stocks: | 9,014,904.196 | - |
Silver Warehouse Stocks: | 270,348,770.387 | +550,696.248 |
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 | 828.759 | 26,645,429 | US$34,532m |
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$5,767m |
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$6,373m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$466m |
Note: No change in Total Tonnes from yesterday's data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 276.66: -0.39 change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,868.83: -61.48 change from yesterday's data.
WINNERS
1. Endeavour Silver | EXK +8.00% $3.24 |
2. Gold Standard | GSV +7.63% $1.27 |
3. NovaGold | NG +3.72% $4.74 |
LOSERS
1. Buenaventura | BVN-3.65% $15.33 |
2. Eurasian | EMX -3.46% $1.12 |
3. Taseko | TGB -3.05% $1.27 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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