-- Published: Wednesday, 15 March 2017 | Print | Disqus
| Close | Gain/Loss |
Gold | $1220.00 | +$21.30 |
Silver | $17.31 | +$0.43 |
XAU | 83.75 | +7.36% |
HUI | 197.20 | +7.78% |
GDM | 634.33 | +6.12% |
JSE Gold | 1227.14 | -23.49 |
USD | 100.66 | -1.08 |
Euro | 107.35 | +1.29 |
Yen | 88.24 | +1.09 |
Oil | $48.86 | +$1.14 |
10-Year | 2.502% | -0.096 |
T-Bond | 148.21875 | +1.375 |
Dow | 20950.10 | +0.54% |
Nasdaq | 5900.05 | +0.74% |
S&P | 2385.26 | +0.84% |
The Metals:
Gold gained $6.50 to $1205.20 in Asia before it fell back under unchanged at $1197.80 just after 10AM EST, but it then shot to as high as $1220.60 in the last minutes of trade and ended with a gain of 1.78%. Silver jumped to as high as $17.35 and ended with a gain of 2.55%.
Euro gold rose to about €1138, platinum gained $16.25 to $951.25, and copper climbed a couple of cents to about $2.67.
Gold and silver equities rose over 1% at the open before they fell to see slight losses in the next half hour of trade, but they then climbed steadily higher after today’s fed announcement and ended with about 7% gains.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Feb | 0.1% | 0.1% | 0.6% |
Core CPI | Feb | 0.2% | 0.2% | 0.3% |
Retail Sales | Feb | 0.1% | 0.1% | 0.6% |
Retail Sales ex-auto | Feb | 0.2% | 0.1% | 1.2% |
Empire Manufacturing | Mar | 16.4 | 14.5 | 18.7 |
Business Inventories | Jan | 0.3% | 0.3% | 0.4% |
NAHB Housing Market Index | Mar | 71 | 65 | 65 |
The fed raised rates 0.25% to a 0.75%-1% range as expected, and kept in language for a gradual path with regards to future hikes. Many had expected them to remove “gradual” from their statement to allow for a more aggressive approach in the future, and the markets viewed the statement as dovish as a result.
Fed raises rates as job gains, firming inflation stoke confidence Reuters
Fed raises interest rates by a quarter-point, sees two move moves this year MarketWatch
Fed Raises Benchmark Rate as Inflation Approaches 2% Target Bloomberg
Tomorrow brings Initial Jobless Claims, Housing Starts, Building Permits, and the Philadelphia Fed.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil remained higher after The Energy Information Administration reported that crude inventories fell 200,000 barrels, gasoline inventories fell 3.1 million barrels, and distillates fell 4.2 million barrels.
Oil jumps off lows, IEA sees H1 deficit after OPEC cuts Reuters
The U.S. dollar index fell and treasuries rose along with the Dow, Nasdaq, and S&P before today’s fed announcement, and those moves all increased after it.
Among the big names making news in the market today were Toshiba, Audi, AT&T and Time Warner, Wells Fargo, RBS, Deutsche Bank, Amazon, and Oracle.
GATA Posts:
Goldman Sachs completes acquisition of Treasury Department
Trump's CFTC chairman pledges to cut regulation
The only way to stop Indians from buying gold? Take away their cash
The Statistics:
As of close of business: 3/14/2017
Gold Warehouse Stocks: | 8,941,612.117 | -160.75 |
Silver Warehouse Stocks: | 188,465,155.868 | +4,256.508 |
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 | 834.989 | 26,845,722 | US$32,333m |
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$5,333m |
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$5,893m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$431m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 35.73 | 1,148,868 | US$1,391m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.962 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 197.22: +0.30 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,303.74: +35.35 change from yesterday’s data.
The Miners:
WINNERS
1. Northern Dynasty | NAK +16.67% $1.26 |
2. DRDGOLD | DRD +15.31% $5.65 |
3. IAMGOLD | IAG +14.45% $3.88 |
LOSERS
1. Paramount | PZG -0.60% $1.66 |
2. Great Panther | GPL -0.56% $1.77 |
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, 15 March 2017 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain Almost 2% And 3% After Dovish Fed
