-- Published: Wednesday, 18 March 2015 | Print | Disqus
| Close | Gain/Loss |
Gold | $1171.00 | +$22.50 |
Silver | $16.06 | +$0.50 |
XAU | 67.57 | +4.94% |
HUI | 166.12 | +5.06% |
GDM | 519.81 | +4.45% |
JSE Gold | 1180.11 | +7.72 |
USD | 97.75 | -1.88 |
Euro | 109.15 | +3.20 |
Yen | 83.45 | +1.03 |
Oil | $44.66 | +$1.20 |
10-Year | 1.951% | -0.107 |
Bond | 148.4375 | +1.78125 |
Dow | 18076.19 | +1.27% |
Nasdaq | 4982.82 | +0.92% |
S&P | 2099.42 | +1.21% |
The Metals:
Gold edged down to $1146.27 in Asia before it bounced back to $1151.80 in London and then chopped back lower in early New York trade, but it then soared to as high as $1175.30 after today’s dovish fed statement and ended with a gain of 1.96%. Silver rose to as high as $16.051 and ended with a gain of 3.21%.
Euro gold fell to about €1081, platinum gained $20 to $1113, and copper fell a few cents to about $2.61.
Gold and silver equities rose as much as 5% after today’s fed statement and ended near their highs of the day
The Economy:
U.S. mortgage applications fall in latest week: MBA Reuters
Full text of FOMC statement MarketWatch
Fed opens door further for June interest rate hike Reuters
Fed Drops ‘Patient’ Stance, Opening Door to June Rate Increase Bloomberg
US Fed Cuts Forecast for Unemployment Rate Over Long Run ABC News
The fed may have dropped the word “patient” from its statement and opened the door for an interest rate hike in June, but it also said it wants to see more improvement in the labor market before it would do so. They also downgraded their outlook for growth and inflation, and it seems they would want to see improvement in those areas as well before considering raising interest rates.
Tomorrow brings Initial Jobless Claims, the Current Account Balance, the Philadelphia Fed, and Leading Economic Indicators.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil remained lower after the Energy Information Administration reported that crude inventories rose 9.6 million barrels, gasoline inventories fell 4.5 million barrels, and distillates rose 400,000 barrels, but it then shot back higher and ended with a nearly 3% gain after today’s fed’s statement.
The U.S. dollar extended markedly lower and treasuries added to early gains after today’s fed’s statement.
The Dow, Nasdaq, and S&P erased notable early losses and ended with about 1% gains in reaction to today’s fed’s statement.
Among the big names making news in the market today were Ocwen, GM, and Herbalife.
GATA Posts:
Low rates will trigger civil unrest as central banks lose control, BIS says
U.S. may revoke settlement agreements in currency-rigging probes
The Statistics:
Activity from: 3/17/2015
Gold Warehouse Stocks: | 7,936,454.490 | -96,450.00 |
Silver Warehouse Stocks: | 176,825,413.989 | +492,740.40 |
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 | 747.983 | 24,048,406 | US$27,582m |
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$5,121m |
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$418m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 38.40 | 1,234,459 | US$1,506m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.687 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 164.02: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,181.17: No change from yesterday’s data.
The Miners:
Timberline’s (TLR) Draft Decision Notice, Primero’s (PPP) 2014 year-end Mineral Reserves and Mineral Resources, Kirkland’s (KGI.TO) record monthly production, Newmont’s (NEM) permit extension, and Hochschild’s 2014 results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Endeavour Silver | EXK +12.57% $1.88 |
2. Paramount | PZG +9.29% $1.06 |
3. Pretivm | PVG +9.13% $5.50 |
No “losers” today.
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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-- Published: Wednesday, 18 March 2015 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Jump About 2% and 3% Higher After Fed Statement
