-- Posted 15 December, 2005 | | Source: SilverSeek.com

Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com:

CPI dropped the most in 56 years due to a record drop in energy costs.  The New York state factory sector index rose to its highest level this year.  Net Foreign Purchases rose to yet another record high after setting a new record high in September as well.

Tomorrow at 8:30AM EST brings the Current Account for the 3^rd Quarter expected at -$205.0 billion.

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Gold traded slightly lower in Asia and dropped to about $500 in early London trade before rebounding to find slight gains in later New York trade, but it then fell off into the close and ended with a relatively small loss.  Silver, however, traded mixed and near unchanged in Asia and London before rising throughout New York trade and ended near its highs with a 2.15% gain.

Gold and silver equities traded around 1% higher for most of trade and ended at about that level.

More Precious Metals Analysis:

“The precious metals markets came under pressure again Thursday morning and saw the selling extend right through the CPI report. However, gold and silver both managed very impressive reversals on the charts and seemed to do so off the idea that the US economic numbers were strong enough to rekindle physical demand ideas. Unfortunately the silver market performed better than gold and that leaves the precious metals markets somewhat disjointed.” - The Hightower Report, Futures Analysis and Forecasting

The dollar gained following the reported record foreign capital inflows, but it continued its weakness versus the yen.  The U.S. dollar index rebounded from 6 week lows, the euro fell from 6 week highs, and the yen made new 6 week highs.

Oil traded mostly slightly lower and ended near its lows of the session as traders watched the weather and debated supplies.  Natural gas inventories fell 202 billion cubic feet which was a larger draw than most expected and that caused prices to initially spike back up near $15, but natural gas soon fell back off under $14 and ended lower on the day at $13.80.

Treasuries fell on solid factory activity, with better than expected readings from the NY Empire State Index, Capacity Utilization, and Industrial Production all indicating that the fed may continue to raise interest rates to tame economic growth and contain inflation.

The Dow, Nasdaq, and S&P traded mostly mixed and near unchanged on various company news, though all three indices did end slightly lower.

Among the big names making news in the market today were Boeing and Cathay Pacific Airways, Altria Group (Philip Morris), Pier 1, Quiznos, Goldman Sachs, Bear Stearns, Lennar, Merck, and Abgenix and Amgen.

Gold & Silver Stock News Update from GoldReview.com:

Golden Star’s filed preliminary prospectuses, Barrick’s received regulatory approvals and waived condition of access to Placer Dome’s data room, SilverCrest’s acquired Mexican gold-silver project, and Sterling Mining’s filed Form 10 to become a fully reporting company were among the big stories in the gold and silver mining industry making headlines today.

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- Written by Chris Mullen

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

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