-- Posted Wednesday, 19 June 2013 | | Disqus
| Close | Gain/Loss |
Gold | $1351.00 | -$16.10 |
Silver | $21.34 | -$0.27 |
XAU | 97.46 | -2.84% |
HUI | 246.37 | -3.25% |
GDM | 732.65 | -3.15% |
JSE Gold | 3171.18 | -31.40 |
USD | 81.39 | +0.76 |
Euro | 132.80 | -1.16 |
Yen | 103.66 | -1.18 |
Oil | $98.24 | -$0.20 |
10-Year | 2.311% | +0.129 |
T-Bond | 140.0625 | -0.50 |
Dow | 15112.19 | -1.35% |
Nasdaq | 3443.20 | -1.12% |
S&P | 1628.93 | -1.39% |
The Metals:
Gold dipped to $1364.30 in Asia before it climbed up to $1375.67 by a little before 10AM EST, but it then dropped to as low as $1349.00 following this afternoon’s fed announcement and ended with a loss of 1.18%. Silver slipped to as low as $21.25 and ended with a loss of 1.25%.
Euro gold fell to about €1017, platinum lost $23.25 to $1413.50, and copper fell slightly to about $3.14
Gold and silver equities fell rather markedly following today’s fed announcement and ended with about 3% losses.
The Economy:
“The Federal Reserve said it will keep buying bonds at a pace of $85 billion a month and said that risks to the economy have decreased.
“The committee sees downside the risks to the outlook for the economy and the labor market as having diminished since the fall,” the Federal Open Market Committee said today at the conclusion of a two-day meeting in Washington. It repeated that it’s prepared to increase or reduce the pace of purchases depending on the outlook for the job market and inflation.”
Tomorrow brings Initial Jobless Claims, Existing Home Sales, the Philadelphia Fed, and Leading Economic Indicators.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil turned slightly lower after the Energy Information Administration reported that crude inventories rose 300,000 barrels, gasoline inventories rose 200,000 barrels, and distillates fell 500,000 barrels.
The U.S. dollar index jumped higher after the fed announced a better than expected economic forecast.
Treasuries fell markedly along with the Dow, Nasdaq, and S&P on talk that the fed might taper asset purchases or raise interest rates if their economic forecasts are correct.
Among the big names making news in the market today were Fab.com, Men’s Wearhouse, Tesla, EADS, FedEx, and Boeing.
GATA Posts:
GATA isn't talented enough to make Dennis Gartman care
Got Gold Report: Big commercials less short in silver than ever
At the CFTC even Gensler is too much for the big banks
The Statistics:
As of close of business: 6/18/2013
Gold Warehouse Stocks: | 7,706,208.985 | +32.15 |
Silver Warehouse Stocks: | 164,386,516.142 | -610,016.225 |
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 | 1001.665 | 32,204,529 | US$44,195m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$6,101m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$8,004m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$488m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.45 | 1,364,715 | US$2,214m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.503 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 186.33: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,998.93: No change from yesterday’s data.
The Miners:
Pretivm’s (PVG) bulk sample update, Sibayne’s (SGL) cost cutting, Richmont’s (RIC) commercial production decision, Fortuna’s (FSM) completed purchase, and Gold Resource’s (GORO) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Comstock | LODE +2.06% $1.98 |
2. Northern Dynasty | NAK +1.28%$2.37 |
3. Richmont | RIC +1.16% $1.74 |
LOSERS
1. Tanzanian Royalty | TRX -7.42% $2.62 |
2. Mag Silver | MVG -5.74% $6.24 |
3. Timmins | TGD -5.41% $2.45 |
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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-- Posted Wednesday, 19 June 2013 | Digg This Article | Source: GoldSeek.com