Gold Seeker Closing Report: Gold and Silver Fall After Fed Tightens
| Close | Gain/Loss |
Gold | $1242.00 | -$7.30 |
Silver | $14.58 | -$0.06 |
XAU | 66.61 | -5.67% |
HUI | 150.99 | -5.83% |
GDM | 558.39 | -4.33% |
JSE Gold | 1355.53 | +27.10 |
USD | 97.06 | UNCH |
Euro | 113.72 | +0.08 |
Yen | 89.30 | +0.12 |
Oil | $47.20 | +$0.96 |
10-Year | 2.780% | -0.043 |
T-Bond | 144.84375 | +0.375 |
Dow | 23323.66 | -1.49% |
Nasdaq | 6636.83 | -2.17% |
S&P | 2506.96 | -1.54% |
The Metals:
Gold edged up to $1251.40 in Asia before it dropped back to $1246.80 in London and then jumped up to $1258.00 at about 10:30AM EST, but it then fell to as low as $1241.90 after today's fed announcement and ended with a loss of 0.58%. Silver rose to as high as $14.821 before it fell back to $14.55, but it ended with a loss of just 0.41%.
Euro gold fell to about EUR1092, platinum lost $5 to $784, and copper climbed 3 cents to about $2.69.
Gold and silver equities rose roughly 2% at the open, but they then fell back off for most of the rest of trade and ended about 5% lower on the day.
Fed's Powell says 'political considerations' have played no role in central bank's decision-making CNBC
Defying Trump, Fed hikes interest rates by a quarter-point MarketWatch
Fed raises interest rates, sees 'some further' hikes ahead Reuters
Here's the data the Fed is looking at as it decides on interest rates MarketWatch
U.S. existing home sales unexpectedly rise in November Reuters
U.S. current account widens; companies bring home piles of cash Reuters
Inflation expectations slide to lowest since Oct. 2017 ahead of Fed decision MarketWatch
Congress is ready to pass a bill to avoid a shutdown but Trump hasn't said whether he'll sign it CNBC
Tomorrow brings Weekly jobless claims, the Philly Fed, and Leading economic indicators.
The Markets:
Oil rose over 2% after the Energy Information Administration reported that crude inventories fell 500,00 barrels, gasoline inventories rose 1.8 million barrels, and distillates fell 4.2 million barrels.
The U.S. dollar index erased notable early losses and ended unchanged.
Treasuries remained higher after the fed's statement while the Dow, Nasdaq, and S&P erased over 1% gains and ended roughly 2% lower.
Among the big names making news in the market today were Johnson & Johnson, FedEx, SoftBank, GE, Glaxo, Pfizer, Eli Lilly, and Facebook.
GATA Posts:
China's holdings of U.S. Treasuries fall to lowest since May 2017
The $7.9 trillion pile of negative-yielding debt is growing fast
Banks' confessions refute 'conspiracy theory' scorn of gold rigging complaints, Murphy says
Ronan Manly: Venezuela's gold in limbo amid tug-of-war at Bank of England
The Statistics:
As of close of business: 12/18/2018
Gold Warehouse Stocks: | 8,338,693.721 | - |
|
Silver Warehouse Stocks: | 295,704,249.653 | -762,251.004 |
|
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(R) Gold Shares | 771.790 | 24,813,829 | US$31,135m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) | Gold Bullion Securities | 138.13 | 4,441,056 | US$5,574m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierb?rse (Deutsche B?rse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 152.66 | 4,908,200 | US$6,160m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.16 | 358,789 | US$449m |
Note: Change in Total Tonnes from yesterday's data: SPDR added 8.234 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 274.66: No change from yesterday's data.
Silver Trust (SLV) Total Tonnes in Trust: 9,884.59: No change from yesterday's data.
AngloGold's (AU) possible London listing and Freeport's (FCX) dividend were among the big stories in the gold and silver mining industry making headlines today.
WINNER
1. EMX Royalty | EMX +0.91% $1.11 |
LOSERS
1. Gold Resource | GORO-10.31% $3.74 |
2. Gold Standard | GSV -9.76% $1.11 |
3. Golden Star | GSS -9.31% $2.63 |
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
- Chris Mullen, Gold Seeker Report
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