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Gold Seeker Closing Report: Gold and Silver Gain After Fed Announcement
By: Chris Mullen, Gold-Seeker.com

 -- Published: Wednesday, 18 June 2014 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1274.00

+$3.80

Silver

$19.84

+$0.12

XAU

94.17

+2.50%

HUI

225.94

+2.48%

GDM

684.16

+2.55%

JSE Gold

1399.14

+1.29

USD

80.42

-0.20

Euro

135.93

+0.47

Yen

98.11

+0.23

Oil

$105.97

-$0.39

10-Year

2.613%

-0.042

Bond

136.6875

+0.78125

Dow

16906.62

+0.58%

Nasdaq

4362.83

+0.59%

S&P

1956.98

+0.77%

 
 

 

The Metals:

 

Gold dropped down to $1266.37 at about 4AM EST before it bounced back to $1273.69 in early New York trade and then fell back towards unchanged by late morning, but it then rallied back higher in afternoon trade and ended near its last minute high of $1274.71 with a gain of 0.3%.  Silver rose to as high as $19.851 and ended with a gain of 0.61%.

 

Euro gold remained at about €938, platinum gained $8.30 to $1444.30, and copper remained at about $3.06.

 

Gold and silver equities rose about 2.5% by midafternoon and remained near that level into the close.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Current Account Balance

Q1

-$111.2B

-$97.8B

-$87.3B

 

Fed cuts 2014 growth forecast but maintains confidence in recovery Reuters

Fed Says Economy Rebounding as It Trims QE Pace by $10 Billion Bloomberg

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Economic Indicators.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil remained firm on continued uncertainty about Iraq.

 

The U.S. dollar index extended lower after today’s relatively dovish fed statement sent treasuries higher along with the Dow, Nasdaq, and S&P.

 

Among the big names making news in the market today were GM, Starwood Capital, Shire, and ConAgra.

 

GATA Posts:

 

 

TF Metals Report: Morgan bought gold to sell it for price control

Even more gold came out of Bank of England's vault in 2013

World Gold Council calls conference on reforming London gold fix

China National Gold talks to Barrick about potential partnerships

Goldman Sachs paperizes India's largest gold ETF

 

The Statistics:

Activity from: 6/17/2014

Gold Warehouse Stocks:

8,272,971.925

-17,206.21

Silver Warehouse Stocks:

176,038,158.029

-9,711.71

 

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® Gold Shares

782.620

25,162,031

US$31,939m

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$5,647m

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$457m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.68

1,339,954

US$1,709m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.264 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 163.20: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,261.98: No change from yesterday’s data.

 

The Miners:

 

Golden Mineral’s (AUMN) plans to restart mining at its Velardena Properties and SilverCrest’s (SVLC) transition update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Allied Nevada

ANV +9.30% $3.76

2.  Solitario

XPL +7.94% $1.36

3.  Avino

ASM +7.61% $2.12

 

LOSERS

1.  Harmony

HMY -3.24% $2.68

2.  Revett

RVM -1.94% $1.01

3.  Almaden

AAU -0.71% $1.40

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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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2014

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions.  The author of this report is not a registered financial advisor.  Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate.  The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action.  Past results are not necessarily indicative of future results.  Any statements non-factual in nature constitute only current opinions, which are subject to change.  Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein.  Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.

 


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 -- Published: Wednesday, 18 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

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