- Gold miners post broad losses as spot gold prices drop after the Fed forged ahead with an interest rate increase and additional plans to tighten monetary policy; gold futures now -0.6% to $1,260.40/oz.
- SPDR Gold Shares (HK:2840) ETF (GLD -0.6%) retreats back towards yesterday's lows of the week near the $120 level.
- Among the bigger precious metal names: ABX -2.1%, GG -3.1%, NEM -2.2%, AEM -4.4%, WPM -3.1%, KGC -3%, EGO -3.3%, RGLD -2.2%, IAG -7%.
- Bloomberg Intelligence wrote earlier this week that if the trend of the current rate tightening cycle is sustained, gold should bottom within a few days of today’s FOMC meeting, if history is a guide.
- Source: Bloomberg First Word
- ETFs: GLD, SLV, GDX, NUGT, GGN, DUST, IAU, AGQ, PSLV, SIL, PHYS, USLV, SIVR, SGOL, GOEX, ZSL, UGLD, UGL, DGP, SGDM, SLVO, GLL, GTU, GLDI, ASA, SLVP, DZZ, OUNZ, DSLV, RING, DGLD, DGL, TGLDX, DBS, DGZ, PSAU, GDXX, GYEN, GEUR, GLDW, UBG, GDXS, USV, GHS, SHNY
- Now read: Resource Sector Digest: Launching The Golden Dog Wurst Award
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