• Gold: 1,281.67 1.24
  • Silver: 16.58 -0.01
  • Euro: 1.158 -0.003
  • USDX: 94.789 -0.19
  • Oil: 64.14 0.05

June 13: Gold and Silver Close Higher After Mixed Fed Reaction

Chris Mullen
|
Wednesday, June 13th

 

Close

Gain/Loss

Gold

$1300.10

+$4.00

Silver

$17.07

+$0.21

XAU

83.79

-0.03%

HUI

180.22

-0.03%

GDM

625.34

-0.38%

JSE Gold

1059.80

-0.25

USD

93.58

-0.22

Euro

117.91

+0.40

Yen

90.66

+0.01

Oil

$66.64

+$0.28

10-Year

2.974%

+0.014

T-Bond

143.59375

-0.15625

Dow

25201.20

-0.47%

Nasdaq

7695.70

-0.11%

S&P

2775.63

-0.40%

 
http://www.goldseek.com/news/2018/2018-06-13_14-03-54.jpg

 

The Metals:

 

Gold dipped $3.50 to $1292.60 in Asia before it bounced back to $1299.00 by late morning in New York and then fell back to $1292.90 after today’s fed statement, but it then shot up to a new session high of $1301.00 in the last minutes of trade and ended with a gain of 0.31%. Silver climbed up to $16.992 before it also dropped in early afternoon trade, but it then jumped to a new session high of $17.106 and ended with a gain of 1.25%.

 

Euro gold fell under €1103, platinum gained $4 to $901, and copper gained a penny to about $3.25.

 

Gold and silver equities ended barely lower in mixed trade.

 

The Economy:

 

Fed hikes rates, points to two more increases by year's end  CNBC

Fed hikes interest rates, now sees 4 moves this year  MarketWatch

Expensive gasoline pushes up U.S. producer prices in May  Reuters

U.S. mortgage applications fall as loan rates rebound  Reuters

 

Tomorrow brings Initial Jobless Claims, Retail Sales, Import and Export Prices, and Business Inventories.

 

The Markets:

 

Oil turned modestly higher after the Energy Information Administration reported that crude inventories fell 4.1 million barrels, gasoline inventories fell 2.3 million barrels, and distillates fell 2.1 million barrels.

 

The U.S. dollar index briefly reversed morning losses and treasuries turned lower after the fed affirmed guidance for 4 interest rate hikes this year, but the dollar then fell to new session lows by the close and bonds pared losses as attention turned to tomorrow’s ECB meeting.

 

The Dow, Nasdaq, and S&P dropped in late trade and ended modestly lower on concerns about a faster pace of rate hikes from a variety of central banks.

 

Among the big names making news in the market today were Adyen, H&R Block, Toyota, Intel, AMD, Nvidia, and AT&T-Time Warner.

 

GATA Posts:

 

 

U.S. paper gold suppression allows Russia and China to buy real gold at discount

London's gold market demands green credentials for producers

Tether was used to manipulate bitcoin price, study says

 

The Statistics:

As of close of business: 6/12/2018

Gold Warehouse Stocks:

9,014,904.196

-

Silver Warehouse Stocks:

270,348,770.387

+550,696.248

 

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

828.759

26,645,429

US$34,532m

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$5,767m

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$6,373m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$466m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 276.66: -0.39 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,868.83: -61.48 change from yesterday’s data.

 

The Miners:

 

 

WINNERS

1.  Endeavour Silver

EXK +8.00% $3.24

2.  Gold Standard

GSV +7.63% $1.27

3.  NovaGold

NG +3.72% $4.74

 

LOSERS

1.  Buenaventura

BVN-3.65% $15.33

2.  Eurasian

EMX -3.46% $1.12

3.  Taseko

TGB -3.05% $1.27

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

 

- Chris Mullen, Gold Seeker Report

 

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© Gold Seeker 2018

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