-- Published: Wednesday, 18 May 2016 | Print | Disqus
| Close | Gain/Loss |
Gold | $1257.30 | -$21.70 |
Silver | $16.84 | -$0.39 |
XAU | 83.67 | -7.98% |
HUI | 212.26 | -7.79% |
GDM | 661.56 | -6.82% |
JSE Gold | 2206.11 | -19.05 |
USD | 95.19 | +0.65 |
Euro | 112.15 | -0.98 |
Yen | 90.75 | -0.89 |
Oil | $48.19 | -$0.12 |
10-Year | 1.880% | +0.121 |
T-Bond | 163.5625 | -2.1875 |
Dow | 17526.62 | -0.02% |
Nasdaq | 4739.11 | +0.50% |
S&P | 2047.63 | +0.0% |
The Metals:
Gold dropped $11.36 to $1267.64 at about 9AM EST before it bounced back higher into midday, but it then fell back off again after the release of FOMC Minutes from the fed’s April meeting and the yellow metal closed with a loss of 1.7%. Silver slipped to as low as $16.78 and ended with a loss of 2.26%.
Euro gold fell to about €1121, platinum lost $28 to $1024, and copper lost 3 cents to about $2.07.
Gold and silver equities fell markedly in the last two hours of trade and ended with about 7% losses.
The Economy:
Fed signals interest rate hike firmly on the table for June Reuters
‘Most’ on Fed ready to hike rates in June if economic data strong, minutes show MarketWatch
U.S. Federal Reserve Meeting Minutes for April 27 Bloomberg
Lowest rates in a year no enticement: Mortgage applications down 1.6% CNBC
Tomorrow brings Initial Jobless Claims and the Philadelphia Fed.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil initially remained higher after the Energy Information Administration reported that crude inventories rose 1.3 million barrels, gasoline inventories fell 2.5 million barrels, and distillates fell 3.2 million barrels, but it then turned slightly lower by the close on worries about rising interest rates.
The U.S. dollar index rose and treasuries fell after the fed indicated that an interest rate hike in June is likely if economic data is strong enough.
The Dow, Nasdaq, and S&P traded mixed on interest rate uncertainty.
Among the big names making news in the market today were Lowe’s, Charter Communications, and Target.
GATA Posts:
Doug Pollitt: Devaluing dollar and debt by revaluing gold is getting respectable
The Statistics:
As of close of business: 5/17/2016
Gold Warehouse Stocks: | 7,739,926.038 | +144,433.78 |
Silver Warehouse Stocks: | 153,339,923.841 | -123,654.391 |
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 | 855.886 | 27,517,583 | US$35,020m |
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$5,650m |
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$6,244m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$457m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 34.72 | 1,116,345 | US$1,401m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 4.754 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 198.38: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,421.95: No change from yesterday’s data.
The Miners:
No “Winners” today.
LOSERS
1. Great Panther | GPL -11.54% $1.61 |
2. Alexco | AXU -11.43% $1.24 |
3. Coeur | CDE -10.8% $7.60 |
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 May 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall Roughly 2% After Fed Minutes
