• Gold: 1,511.49 -2.75
  • Silver: 17.11 -0.00
  • Euro: 1.109 -0.000
  • USDX: 98.142 -0.094
  • Oil: 54.91 0.14

December 19: Gold and Silver Fall After Fed Tightens

Chris Mullen
|
Wednesday, December 19th

 

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%

 
http://www.goldseek.com/news/2018/2018-12-19_14-07-09.jpg

 

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 €1092, 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.

 

The Economy:

 

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® Gold Shares

771.790

24,813,829

US$31,135m

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$5,574m

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$6,160m

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.

 

The Miners:

 

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

 

- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here

Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2018

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