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

 -- Published: Wednesday, 17 June 2015 | Print  | Disqus 

 

Close

Gain/Loss

Gold

$1187.10

+$5.40

Silver

$16.17

+$0.15

XAU

67.44

+2.20%

HUI

157.98

+2.39%

GDM

519.85

+2.38%

JSE Gold

1008.02

-14.48

USD

94.25

-0.74

Euro

113.40

+0.90

Yen

81.02

-0.04

Oil

$59.92

-$0.05

10-Year

2.306%

-0.012

Bond

152.5625

-0.375

Dow

17935.74

+0.17%

Nasdaq

5064.88

+0.18%

S&P

2100.44

+0.20%

 
 

 

The Metals:

 

Gold fell $7.02 to $1174.68 at about 10:45AM EST before it jumped up to as high as $1189.13 after today’s fed statement and then fell back off in the last 40 minutes of trade, but it still ended with a gain of 0.46%.  Silver rose to as high as $16.259 and ended with a gain of 0.94%.

 

Euro gold fell to about €1047, platinum gained $3 to $1080, and copper remained at about $2.62.

 

Gold and silver equities climbed higher after today’s fed statement and ended with over 2% gains.

 

The Economy:

 

Fed holds off on interest rate hike, downgrades economic forecast LA Times

Fed says U.S. economy still strong enough to handle rate hike Reuters

Fed Officials Keep End-2015 Median Fed Funds Forecast at 0.625% Bloomberg

Text of the FOMC decision MarketWatch

Banks' forex lawsuit settlements near $2 billion: WSJ Reuters

U.S. mortgage applications fall as rates hit highest level since October 2014: MBA Reuters

 

Tomorrow brings Initial Jobless Claims, CPI, the Current Account Balance, the Philadelphia Fed, and Leading Economic Indicators.

 

The Markets:

 

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

 

Oil erased early gains after the Energy Information Administration reported that crude inventories fell 2.7 million barrels, gasoline inventories rose 500,000 barrels, and distillates rose 100,000 barrels.

 

The U.S. dollar fell after the fed did not express urgency to raise interest rates.

 

Treasuries erased early losses and ended mixed after the fed’s dovish statement.

 

The Dow, Nasdaq, and S&P traded mixed before the fed and ultimately climbed to find modest gains afterwards.

 

Among the big names making news in the market today were Google, Permira, Barclays, FedEx, and Wal-Mart.

 

GATA Posts:

 

 

GATA's Ed Steer interviewed at Canadian Investor Conference

 

The Statistics:

Activity from: 6/16/2015

Gold Warehouse Stocks:

7,791,154.871

-63,000.98

Silver Warehouse Stocks:

180,693,983.091

+517,227.79

 

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

701.897

22,566,677

US$26,571m

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$5,225m

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$5,775m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$422m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

28.13

904,433

US$1,069m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 167.01: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,198.03: No change from yesterday’s data.

 

The Miners:

 

Rubicon’s (RBY) 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

1.  Rubicon

RBY +6.67% $1.12

2.  Coeur

CDE +5.70% $5.93

3.  Kinross

KGC +5.19% $2.43

 

LOSERS

1.  Paramount

PZG -1.38% $1.54

2.  Turquoise

TRQ -1.24% $3.98

3.  SilverCrest

SVLC -0.95% $1.04

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 2015

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

 

 

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 -- Published: Wednesday, 17 June 2015 | E-Mail  | Print  | Source: GoldSeek.com

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