Gold Seeker Closing Report: Gold and Silver End Roughly 1% Higher

	Close	Gain/Loss
Gold	$1345.70	+$8.90
Silver	$17.33	+$0.22
XAU	87.66	+1.27%
HUI	196.44	+1.24%
GDM	663.10	+1.04%
JSE Gold	1245.08	+5.68
USD	89.10	-0.13
Euro	124.13	+0.16
Yen	91.70	-0.27
Oil	$64.73	+$0.23
10-Year	2.720%	-0.004
T-Bond	147.78125	+0.40625
Dow	26149.39	+0.28%
Nasdaq	7411.48	+0.12%
S&P	2823.81	+0.05%

The Metals:

Gold gained $8.30 to $1345.10 by midmorning in New York before it dropped back to $1334.10 after this afternoon's fed statement, but it then shot back higher into the close and ended near its late session high of $1347.50 with a gain of 0.67%. Silver rose to as high as $17.385 and ended with a gain of 1.29%.

Euro gold rose to about EUR1084, platinum gained $8.50 to $1000 , and copper remained at about $3.20.

Gold and silver equities waffled near unchanged and ended over 1% higher on the day.

The Economy:

Former Fed Chair Alan Greenspan Sees Bubbles in Stocks and Bonds Bloomberg

U.S. Raises Longer-Term Debt Sales as Budget Deficit Worsens Bloomberg

Fed leaves rates unchanged but gives more aggressive inflation expectations CNBC

Janet Yellen's Fed Era Ends With Unanimous Vote of No Rate Hike Bloomberg

Fed holds interest rates steady, sees inflation rising this year Reuters

Fed takes step toward rate hike as baton set to pass to Powell MarketWatch

U.S. pending home sales rise 0.5 percent in December Reuters

Chicago PMI slips from nine-year high MarketWatch

Private jobs up 234K in January vs. 185K est.: ADP Moody's Analytics CNBC

Employment Costs in U.S. Match Fastest 12-Month Gain Since 2008 Bloomberg

Tomorrow brings Initial Jobless Claims, Productivity and Costs, PMI Manufacturing, ISM Manufacturing, and Construction Spending.

The Markets:

Oil turned slightly higher after the Energy Information Administration reported that crude inventories rose 6.8 million barrels, gasoline inventories fell 2.0 million barrels, and distillates fell 1.9 million barrels.

The U.S. dollar index briefly flirted with gains after today's fed announcement raised inflation expectations, but it ultimately fell back off by the close on concerns about the budget deficit that sent treasuries higher.

The Dow, Nasdaq, and S&P bounced back from yesterday's notable losses in morning trade before they fell to see slight losses after the fed announcement, but they then rallied back higher into the close and ended with modest gains on steady growth expectations.

Among the big names making news in the market today were Kodak, Kroger, Nasdaq, Fujifilm, Microsoft, Google, and Boeing.

GATA Posts:

World will remonetize metals if price suppression is ever defeated, GATA secretary says

Banks are in the clear if they rig markets as U.S. government's agents

A modern land rush? Trump move opens Utah to mining claims under 1872 law

Mnunchin says his dollar policy isn't aimed at jawboning it lower

Digital gold from Perth Mint threatens $122 billion in gold-backed ETFs

The Statistics:

As of close of business: 1/30/2018

Global Gold ETF Holdings

[WGC Sponsored ETF's]

Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 1.18 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 260.77: +1.63 change from yesterday's data.

Silver Trust (SLV) Total Tonnes in Trust: 9,763.28: No change from yesterday's data.

The Miners:

Rio Tinto's (RIO) and Turquoise Hill's (TRQ) tax allegations, Nevsun's (NSU) 2018 outlook and guidance, Seabridge Gold's (SA) drilling summary and development approach, IAMGOLD's (IAG) drill results, and Silver Bull's (SVBL) drill results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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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