Wednesday, June 13th
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.
Tomorrow brings Initial Jobless Claims, Retail Sales, Import and Export Prices, and Business Inventories.
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.