-- Published: Wednesday, 24 May 2017 | Print | Disqus
| Close | Gain/Loss |
Gold | $1257.20 | +$5.40 |
Silver | $17.19 | +$0.12 |
XAU | 84.86 | +1.20% |
HUI | 196.20 | +1.10% |
GDM | 363.01 | +0.56% |
JSE Gold | 1434.50 | -51.88 |
USD | 97.11 | -0.26 |
Euro | 112.17 | +0.34 |
Yen | 89.67 | +0.23 |
Oil | $51.36 | -$0.11 |
10-Year | 2.248% | -0.039 |
T-Bond | 153.8125 | +0.53125 |
Dow | 21012.42 | +0.36% |
Nasdaq | 6163.02 | +0.40% |
S&P | 2404.39 | +0.25% |
The Metals:
Gold dipped $3.90 to $1247.90 in Asia before it bounced back to $1254.30 in early New York trade and then fell to see a slight loss in late morning action, but it then rallied back higher in afternoon trade and ended near its post FOMC Minutes release reaction high of $1257.90 with a gain of 0.43%. Silver rose to as high as $17.199 and ended with a gain of 0.70%.
Euro gold rose to about €1121, platinum gained $5 to $946, and copper dropped a penny to about $2.59.
Gold and silver equities fell over 1% by late morning, but they then rallied back higher into the close and ended about 1% higher on the day.
The Economy:
Report | For | Reading | Expected | Previous |
FHFA Housing Price Index | Mar | 0.6% | 0.5% | 0.8% |
Existing Home Sales | Apr | 5.57M | 5.65M | 5.70M |
Most Fed Officials Saw Tightening ‘Soon,’ Favored Unwind Plan Bloomberg
Fed minutes show broad agreement on approach to start shrinking balance sheet MarketWatch
Fed ties rate hike to economic rebound, sees balance sheet cuts in 2017 Reuters
Tomorrow brings Initial Jobless Claims and International Trade in Goods.
The Markets:
Oil edged lower ahead of tomorrow’s decision by OPEC over whether or not to extend recent output cuts.
The U.S. dollar index fell and treasuries rose while the Dow, Nasdaq, and S&P added onto early gains after today’s fed minutes noted “that “it would be prudent” to wait for evidence that a recent slowdown in economic activity had been transitory.”
Among the big names making news in the market today were Aston Martin, Lowes, and Tiffany’s.
GATA Posts:
No major news organization wants the financial news story of the century
Government intervention stalls gold but bitcoin escapes it, von Greyerz says
The Statistics:
As of close of business: 5/23/2017
Gold Warehouse Stocks: | 8,818,587.082 | +57,677.10 |
Silver Warehouse Stocks: | 201,466,911.345 | +841,043.774 |
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 | 847.452 | 27,246,434 | US$34,119m |
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$5,556m |
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$6,140m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$449m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 34.33 | 1,103,772 | US$1,391m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 5.031 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 202.82: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,693.85: No change from yesterday’s data.
The Miners:
Tanzania’s fired mining minister and First Majestic’s (AG) illegal blockade were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Alio Gold | ALO +7.11% $4.82 |
2. Pretivm | PVG +4.38% $9.05 |
3. Turquoise | TRQ +4.32% $2.90 |
LOSERS
1. Fortuna | FSM -5.62% $4.37 |
2. Northern Dynasty | NAK -4.60% $1.66 |
3. Paramount | PZG -3.13% $1.55 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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-- Published: Wednesday, 24 May 2017 | E-Mail | Print | Source: GoldSeek.com
Gold Seeker Closing Report: Gold and Silver Gain After Fed Minutes Release
