• Gold: 1,253.72 -2.08
  • Silver: 16.02 -0.02
  • Euro: 1.176 0.000
  • USDX: 93.932 0.443
  • Oil: 57.34 0.08

September 20: Gold and Silver Fall Almost 1% After Fed

Chris Mullen
|
Wednesday, September 20th

Please note: There will not be a Gold Seeker Report the next couple of days while I attend the Nexus Conference in Aspen. Join me! Several of our authors and content providers will be presenting:

 

Come and join us in Aspen and participate in the most dynamic think tank of the year. There will be speeches and question and answer sessions from some of the brightest minds about business, finance, technology, networks, aerospace, blockchains, bitcoin, gold and silver, economics, philosophy, medical marijuana, music, data, hardware systems, and the future of the internet.

 

The Nexus Conference is Your Connection to the Future

 

Your Connection To The Future - Of Blockchain

Colin Cantrell - Nexus Creator

Roger Ver - Bitcoin Legend

Your Connection To The Future - Of Finance

Dave North - CEO of Sedgwick (The world’s largest insurance service provider)

Peter Schiff - CNBC contributor

Doug Casey - Founder Casey research

Jeff Berwick - Founder of The Dollar Vigilante

Flip Filipowski - Futurist / Tech Entrepreneur

G Edward Griffin - Writer of “The Creature from Jekyll Island”

Dr. Patrick M. Byrne - Founder of Overstock.com

Your Connection To The Future - Of Politics

Ron Paul - Former Congressman & Presidential Candidate

Jesse Ventura - Former Governor & TV Personality

Dennis Kucinich - Former Congressman & Presidential Candidate

Your Connection To The Future - Of Space

Jim Cantrell - CEO Vector Space Systems

Your Connection To The Future - Of Arts & Entertainment

Max Keiser - Host of the Keiser Report on RT

Tatiana Moroz - Singer - Songwriter and Blockchain Expert

 

 

Close

Gain/Loss

Gold

$1300.60

-$10.50

Silver

$17.14

-$0.16

XAU

85.48

-2.00%

HUI

198.52

-1.85%

GDM

652.02

-1.39%

JSE Gold

1355.41

+10.79

USD

92.48

+0.69

Euro

118.93

-1.02

Yen

89.19

-0.62

Oil

$50.41

+$0.93

10-Year

2.264%

+0.019

T-Bond

155.34375

-0.0625

Dow

22412.59

+0.19%

Nasdaq

6456.04

-0.08%

S&P

2508.24

+0.06%

 
http://www.goldseek.com/news/2017/2017-09-20_14-01-47.jpg

 

The Metals:

 

Gold gained $4.80 to $1315.90 in London before it dropped back to $1310.90 in early New York trade and then bounced back higher into midday, but it then fell to a new session low of $1296.10 after the release of today’s fed announcement and ended with a loss of 0.8%. Silver slipped to as low as $16.968 and ended with a loss of 0.92%.

 

Euro gold rose to about €1094, platinum lost $13 to $940, and copper remained at about $2.96.

 

Gold and silver equities rose over 1% by midmorning before they fell to see roughly 3% losses by midafternoon, but they then edged back higher into close and ended less than 2% lower on the day.

 

The Economy:

 

Still on course: Fed signals one more rate hike in 2017  MarketWatch

Fed approves October reversal of historic stimulus, leaves rates unchanged  CNBC

Fed keeps rates steady, approves portfolio cuts in October  Reuters

Fed Asset-Shrinking to Start Next Month; Rate Hike Seen in '17  Bloomberg

Text of September FOMC statement  MarketWatch

Existing home sales fall in August for the fourth time in five months  MarketWatch

 

Tomorrow brings Initial Jobless Claims, the Philadelphia Fed, the FHFA House Price Index, and Leading Indicators.

 

The Markets:

 

Oil extended higher after the Energy Information Administration reported that crude inventories rose 4.6 million barrels, gasoline inventories fell 2.1 million barrels, and distillates fell 5.7 million barrels.

 

The U.S. dollar index jumped higher and treasuries fell while the Dow, Nasdaq, and S&P traded mixed after the fed announced a more hawkish stance than most were expecting.

 

Among the big names making news in the market today were Volkswagen, Bitcoin, Toshiba, UPS, and General Mills.

 

GATA Posts:

 

 

Bullion Star details Chinese gold mining as a source of gold supply

 

The Statistics:

As of close of business: 9/19/2017

Gold Warehouse Stocks:

8,669,497.854

-16,471.493

Silver Warehouse Stocks:

218,110,562.621

-491,297.874

 

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

846.028

27,200,656

US$35,615m

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$5,830m

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$6,444m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$472m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

awaited

awaited

US$awaited

Note: Change in Total Tonnes from yesterday’s data: SPDR added 2.069 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 221.34: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,106.00: -35.26 change from yesterday’s data.

 

The Miners:

 

WINNERS

1.  Taseko

TGB +7.95% $1.90

2.  Alexco

AXU +3.92% $1.59

3.  Northern Dynasty

NAK +2.63% $1.95

 

LOSERS

1.  Harmony

HMY -5.03% $1.89

2.  DRDGOLD

DRD -4.39% $3.70

3.  Kinross

KGC -4.20% $4.33

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

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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