• Gold: 1,274.58 -0.82
  • Silver: 16.34 0.04
  • Euro: 1.158 -0.000
  • USDX: 95.124 0.098
  • Oil: 65.27 0.32

June 12: Gold and Silver Fall Before Fed Day

Chris Mullen
|
Tuesday, June 12th

 

Close

Gain/Loss

Gold

$1296.10

-$4.30

Silver

$16.86

-$0.07

XAU

83.82

+0.22%

HUI

180.26

+0.05%

GDM

627.16

-0.00%

JSE Gold

1060.05

+0.27

USD

93.80

+0.22

Euro

117.51

-0.34

Yen

90.65

-0.27

Oil

$66.36

+$0.26

10-Year

2.960%

+0.007

T-Bond

143.6875

+0.03125

Dow

25320.73

-0.01%

Nasdaq

7703.79

+0.57%

S&P

2786.85

+0.17%

 
http://www.goldseek.com/news/2018/2018-06-12_14-01-31.jpg

 

The Metals:

 

Gold dipped $7.20 to $1293.20 in early New York trade before it bounced back to $1299.60 by late morning, but it then drifted back lower into the close and ended with a loss of 0.33%. Silver slipped to as low as $16.734 before it rallied back to $16.946, but it then chopped back lower in afternoon trade and ended with a loss of 0.41%.

 

Euro gold remained above €1103, platinum lost $5 to $897, and copper dropped a penny to about $3.24.

 

Gold and silver equities waffled near unchanged and ended mixed.

 

The Economy:

 

Consumer inflation rising at fastest pace in 6 years, CPI shows  MarketWatch

U.S. government posts $147 billion deficit in May  Reuters

 

Tomorrow brings PPI and a FOMC Meeting Announcement and press conference.

 

 

The Markets:

 

Oil ended slightly higher on continued uncertainty about OPEC’s future actions.

 

The U.S. dollar index remained near unchanged along with treasuries ahead of tomorrow’s fed meeting conclusion.

 

The Dow, Nasdaq, and S&P traded mostly higher on relative geopolitical and economic calm.

 

Among the big names making news in the market today were Tesla, Restoration Hardware, McDonald's, Exxon Mobil, AT&T, and Weight Watchers.

 

GATA Posts:

 

 

Craig Hemke at Sprott Money: Social Security deficit will be monetized

 

The Statistics:

As of close of business: 6/11/2018

Gold Warehouse Stocks:

9,014,904.196

-

Silver Warehouse Stocks:

269,798,074.139

-283,527.824

 

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$34,599m

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$5,764m

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$6,374m

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: 277.05: -0.77 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,930.31: No change from yesterday’s data.

 

The Miners:

 

Kinross Gold’s (KGC) expansion, Seabridge Gold’s (SA) exploration program, Paramount’s (PZG) water monitoring, and Randgold’s (GOLD) unrest in Mali were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Endeavour Silver

EXK +4.53% $3.00

2.  Hecla

HL +2.88% $3.93

3.  NovaGold

NG +2.24% $4.57

 

LOSERS

1.  Gold Standard

GSV-10.61% $1.18

2.  Sibanye

SBGL -4.71% $2.63

3.  Taseko

TGB -4.38% $1.31

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

 

- Chris Mullen, Gold Seeker Report

 

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

© Gold Seeker 2018

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