-- Published: Wednesday, 14 December 2016 | Print | Disqus
| Close | Gain/Loss |
Gold | $1142.60 | -$16.00 |
Silver | $16.80 | -$0.11 |
XAU | 77.02 | -5.14% |
HUI | 170.72 | -6.17% |
GDM | 557.32 | -4.55% |
JSE Gold | 1292.87 | +15.65 |
USD | 102.10 | +1.02 |
Euro | 105.26 | -1.04 |
Yen | 85.40 | -1.43 |
Oil | $51.04 | -$1.94 |
10-Year | 2.525% | +0.044 |
T-Bond | 149.6875 | -0.53125 |
Dow | 19792.53 | -0.60% |
Nasdaq | 5436.67 | -0.50% |
S&P | 2253.28 | -0.81% |
The Metals:
Gold gained $6.32 to $1164.92 in early New York trade, but it then fell markedly after the fed announced an expected interest rate hike and ended near its last minute low of $1139.65 with a loss of 1.38%. Silver slipped to as low $16.745 and ended with a loss of 0.65%.
Euro gold fell to about €1085, platinum lost $12 to $921, and copper remained at about $2.59.
Gold and silver equities saw slight gains for most of the morning, but they then fell back off into the close and ended roughly 5% lower on the day.
The Economy:
Report | For | Reading | Expected | Previous |
PPI | Nov | 0.4% | 0.1% | 0.0% |
Core PPI | Nov | 0.4% | 0.2% | -0.2% |
Retail Sales | Nov | 0.1% | 0.3% | 0.6% |
Retail Sales ex-auto | Nov | 0.2% | 0.4% | 0.6% |
Industrial Production | Nov | -0.4% | -0.1% | 0.1% |
Capacity Utilization | Nov | 75.0% | 75.1% | 75.4% |
Business Inventories | Oct | -0.2% | -0.1% | 0.0% |
Fed raises rates, sees faster pace of increases in 2017 Reuters
Fed Raises Rates, Boosts Outlook for Borrowing Costs in 2017 Bloomberg
Fed raises interest rates and adds another hike to its 2017 forecast MarketWatch
Tomorrow brings Initial Jobless Claims, CPI, the Philadelphia Fed, Empire Manufacturing, the Current Account Balance, the NAHB Housing Market Index, and Net Long-Term TIC Flows.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil briefly pared early losses but ultimately ended almost 4% lower after the Energy Information Administration reported that crude inventories fell 2.6 million barrels, gasoline inventories rose 500,000 barrels, and distillates fell 800,000 barrels.
The U.S. dollar index jumped higher and treasuries fell after the fed hiked interest rates and increased its forecast for more hikes next year.
The Dow, Nasdaq, and S&P fell on apprehension over the fed’s aggressive stance towards future rate hikes.
Among the big names making news in the market today were Goldman Sachs, Volkswagen, GM, and Ford.
GATA Posts:
Another social cost of gold price suppression: Ruined environment
All that glitters is gold in Indian city famous for jewellery craftsmanship
Finance titans face off over $5 trillion London gold market
Allan Flynn: 'When gold goes above 1430, we whack it'
The Statistics:
As of close of business: 12/13/2016
Gold Warehouse Stocks: | 9,428,689.415 | +32,949.071 |
Silver Warehouse Stocks: | 180,346,099.686 | +579,635.08 |
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 | 856.259 | 27,529,595 | US$31,991m |
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$5,170m |
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$5,713m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$409m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 35.73 | 1,148,868 | US$1,391m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 196.95: -0.51 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,608.28: -56.04 change from yesterday’s data.
The Miners:
Turquoise Hill’s (TRQ) resumed concentrate shipments and Gold Fields’ (GFI) retiring directors were among the big stories in the gold and silver mining industry making headlines today.
No “winners” today
LOSERS
1. IAMGOLD | IAG -9.64% $3.56 |
2. Harmony | HMY -8.68% $2.00 |
3. Gold Standard | GSV -8.13% $2.09 |
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, 14 December 2016 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Fall After Fed Rate Hike
