Gold Seeker Closing Report: Gold and Silver Gain Roughly 2% After Fed
| Close | Gain/Loss |
Gold | $1333.40 | +$23.00 |
Silver | $16.60 | +$0.40 |
XAU | 80.59 | +3.16% |
HUI | 174.49 | +3.12% |
GDM | 609.50 | +2.46% |
JSE Gold | 1066.77 | +5.10 |
USD | 89.65 | -0.76 |
Euro | 123.47 | +1.01 |
Yen | 94.62 | +0.54 |
Oil | $65.17 | +$1.63 |
10-Year | 2.882% | -0.005 |
T-Bond | 143.78125 | -0.0625 |
Dow | 24682.31 | -0.18% |
Nasdaq | 7345.29 | -0.26% |
S&P | 2711.93 | -0.18% |
The Metals:
Gold saw decent gains in Asia and London and climbed $16.10 to as high as $1326.50 in late morning New York trade before it pared back to $1319.40 just after today's fed statement was released, but it then rose to new session highs into the close and ended near its last-minute high of $1335.60 with a gain of 1.76%. Silver surged to as high as $16.636 and ended with a gain of 2.47%.
Euro gold rose to about EUR1080, platinum gained $16 to $957, and copper climbed 4 cents to about $3.07.
Gold and silver equities rose over 2% by late morning before they roughly halved their gains about 30 minutes after the fed's statement, but they stormed back higher in the last hour and a half of trade and ended over 3% higher on the day.
Powell 'Carefully Considering' More Frequent Press Conferences Bloomberg
Fed raises rates, signals confidence in strengthening economy Reuters
Fed lifts rates in Powell's first meeting, says outlook has strengthened MarketWatch
Fed Raises Rates, Steepens Path of Hikes as Outlook Strengthens Bloomberg
Existing-home sales snap back even as inventory slides to a fresh low MarketWatch
U.S. Mortgage Refinancing Drops to Nine-Year Low as Rates Rise Bloomberg
For consumers with credit card debt, Fed rate hike will sting MarketWatch
U.S. current account deficit widens in fourth quarter Reuters
Tomorrow brings Initial Jobless Claims, the FHFA House Price Index, and Leading Indicators.
The Markets:
Oil extended higher after the Energy Information Administration reported that crude inventories fell 2.6 million barrels, gasoline inventories fell 1.7 million barrels, and distillates fell 2.0 million barrels.
The U.S. dollar index fell markedly after the fed failed to increase the number of expected interest rate hikes from 3 to 4 this year.
Treasuries traded mixed and ended slightly lower along with the Dow, Nasdaq, and S&P on uncertainty over what to make of the continuance of gradual policy moves from the fed.
Among the big names making news in the market today were General Mills, Deutsche Bank, Bayer, Dropbox, GlaxoSmithKline, and General Mills.
GATA Posts:
No, gold leased from central banks doesn't always have to be returned
The Statistics:
As of close of business: 3/20/2018
Gold Warehouse Stocks: | 9,060,591.220 | - |
Silver Warehouse Stocks: | 257,812,433.903 | +361,011.96 |
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 | 850.543 | 27,345,794 | US$36,125m |
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$5,883m |
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$6,499m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$474m |
Note: Change in Total Tonnes from yesterday's data: SPDR subtracted 0.295 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 270.04: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,942.90: No change from yesterday's data.
WINNERS
1. Hecla | HL +8.87% $3.56 |
2. Silvercorp | SVM +6.98% $2.76 |
3. Endeavour Silver | EXK +6.87% $2.49 |
No "losers" today.
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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