-- Published: Wednesday, 17 August 2016 | Print | Disqus
| Close | Gain/Loss |
Gold | $1346.50 | +$0.40 |
Silver | $19.66 | -$0.14 |
XAU | 109.24 | -1.44% |
HUI | 271.51 | -1.29% |
GDM | 842.27 | -1.57% |
JSE Gold | 2577.03 | -47.48 |
USD | 94.79 | +0.02 |
Euro | 112.85 | +0.06 |
Yen | 99.71 | -0.01 |
Oil | $46.79 | +$0.21 |
10-Year | 1.561% | -0.015 |
T-Bond | 171.625 | +0.53125 |
Dow | 18573.94 | +0.12% |
Nasdaq | 5228.66 | +0.03% |
S&P | 2182.22 | +0.19% |
The Metals:
Gold fell $4.81 to $1341.29 in Asia before it bounced back to $1346.71 in late morning New York trade and then briefly spiked lower following the 2PM EST release of today’s fed minutes, but it quickly rebounded to a new session high of $1351.48 and ended with a gain of 0.03%. Silver slipped to $19.563 before it also bounced back higher at times, but is still ended with a loss of 0.71%.
Euro gold rose to about €1194, platinum lost $3.50 to $1111.50, and copper fell slightly to about $2.16.
Gold and silver equities fell over 3% in the first hour of trade, but they then more than halved their losses in the last couple of hours of the day and ended roughly 1.5% lower on the day.
The Economy:
Some voting Fed members see rate hike needed soon: minutes Reuters
Fed Officials Split in July on Whether Rate Hike Needed Soon Bloomberg
U.S. mortgage demand to buy homes hits six-month low: MBA Reuters
Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, and Leading Indicators.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil turned modestly higher after the Energy Information Administration reported that crude inventories fell 2.5 million barrels, gasoline inventories fell 2.7 million barrels, and distillates rose 1.9 million barrels.
The U.S. dollar index erased early gains and treasuries turned higher after the fed’s minutes showed mixed and uncertain views as to when to raise interest rates.
The Dow, Nasdaq, and S&P rebounded from early losses and ended slightly higher on hopes for continued easy monetary policy.
Among the big names making news in the market today were Urban Outfitters, Children's Place, Target, American Eagle, Lowe’s, Cisco Systems, and Staples.
GATA Posts:
Banks look for cheap way to store cash piles as rates go negative
Rickards details the 'paper gold' fraud and speculates on its demise
The Statistics:
As of close of business: 8/16/2016
Gold Warehouse Stocks: | 11,003,691.685 | +1,003.23 |
Silver Warehouse Stocks: | 157,459,476.870 | +1,109,788.724 |
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 | 962.228 | 30,936,580 | US$41,551m |
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$5,990m |
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$6,603m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$483m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 34.88 | 1,121,361 | US$1,417m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.781 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 223.85: +0.96 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,941.12: No change from yesterday’s data.
The Miners:
Royal Gold’s (RGLD) dividend, Golden Star’s (GSV) loan repayment, Harmony’s (HMY) dividend and yearend results, and Excellon’s (EXN.TO) drilling program were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Standard | GSV +3.56% $2.91 |
2. Almaden | AAU +1.74% $1.75 |
3. DRDGOLD | DRD +0.99% $8.15 |
LOSERS
1. ITH | THM -6.67% $1.12 |
2. Avino | ASM -6.18% $2.43 |
3. Alexco | AXU -5.65% $2.17 |
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, 17 August 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold Turns Higher After Fed Minutes 
