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-- Posted 23 December, 2005 | | Source: SilverSeek.com
Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com: Note: U.S. markets are closed on Monday in observance of Christmas. Canadian markets are closed on Monday in observance of Boxing Day and are closed on Tuesday in observance of Christmas. And sorry loyal Gold Seekers, but there will be no Gold Seeker Reports next week. Happy Holidays to all. Report | For | Reading | Expected | Previous | Durable Orders | Nov | 4.4% | 1.1% | 3.0% | Orders ex. Transport | Nov | -0.6% | 1.0% | -0.2% | Michigan Sentiment | Dec | 91.5 | 89.0 | 88.7 | New Home Sales | Nov | 1245K | 1300K | 1404K |
Durable Goods Orders surprisingly jumped the most in 6 months due to demand for aircraft, but orders disappointed when excluding transportation. Michigan Sentiment also pleased economically, but New Home Sales fell 11.3% (the most in 11 years) and left a record number of homes on the market. ADVERTISEMENT In a recent article entitled "The Investment Club You Can't Get Into," The Wall Street Journal writes that "there are now more than 430,000 households in the U.S. with a net worth of $10 million or more." You're about to have the opportunity to join them.
| Close | Gain/Loss | On Week | Gold | $502.70 | $0.10 | -0.04% | Silver | $8.54 | $0.07 | +0.47% | XAU | 125.02 | -0.08% | +2.17% | HUI | 270.88 | +0.20% | +4.20% | GDM | 867.43 | -0.00% | +3.15% | USD | 90.89 | +0.11 | +1.32% | Euro | 118.62 | -0.15 | -1.16% | Yen | 86.05 | +0.23 | -0.29% | Oil | $58.43 | +$0.15 | +0.64% | 10-Year | 4.38% | -0.053 | -1.53% | Bond | 114.21875 | +0.78125 | +0.83% | Dow | 10883.27 | -0.06% | +0.07% | Nasdaq | 2249.42 | +0.13% | -0.14% | S&P | 1268.66 | +0.04% | +0.11% |
This week’s economic reports:
Next week’s economic highlights include Consumer Confidence on Wednesday and Chicago PMI and Existing Home Sales on Thursday. Gold Warehouse Stocks: | 7,178,421 | - | Silver Warehouse Stocks: | 119,977,948 | - |
COT Reports: Gold | Silver Gold traded mostly slightly higher in Asia and London before dropping down near $500 at the New York open, but it then rallied back above $505 before easing slightly into the close to end with a minor gain. Silver followed a very similar pattern and ended with a respectable gain. Gold and silver equities rose about 1% Friday morning, but they then fell off to find slight losses in afternoon trade and ended mixed and near unchanged. More Precious Metals Analysis: “The metals started out firm but during the session drifted into negative territory and that seemed to keep the recent bearish threat alive. However, it is possible that some traders were a little disappointed with the pace of the US economic numbers released during the session. The Dollar hardly gave off a material direction to the gold during the session but with the equity market mostly choppy and oil prices weak, we can understand the bull camp holding limited control over prices.” - The Hightower Report, Futures Analysis and Forecasting The U.S. dollar index found decent gains early on before slipping following the release of the economically disappointing New Home Sales report, but it still ended with a slight gain. Oil traded mostly slightly lower in quiet trade before ending with a minor gain. Mild U.S. weather continues to be the driving factor in the oil market. Treasuries found nice gains as investors found Durable Goods Orders excluding transportation and New Home Sales economically disappointing. The spread between 2 and 10-year notes continued to flatten. The Dow, Nasdaq, and S&P traded mixed and near unchanged as traders digested economic and company news. Among the big names making news in the market Friday were NBC and MSNBC, Tommy Hilfiger and Apax, Ford, Albertson’s and Supervalu, various retailers, Affiliated Computer, and Research In Motion. Gold & Silver Stock News Update from GoldReview.com: Crystallex’s closing of hedge book and restructuring of standard bank debt, Aurizon’s received commitment from BNP Paribas to arrange and underwrite a senior debt financing facility for up to $75 million, Kinross Gold’s update on their late filing of financial statements, and Royal Gold’s agreement to acquire royalties from Kennecott Minerals for $25 million were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Almaden Minerals | AAU +14.94% $2.00 | 2. Kimber Resources | KBX +10.34% $1.92 | 3. Rio Narcea | RNO +6.25% $1.36 |
LOSERS 1. Great Basin | GBN -4.73% $1.41 | 2. Mines MGMT | MGN -3.5% $6.90 | 3. Aurizon | AZK -2.84% $1.37 |
Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Do you have questions, comments, or suggestions about this report? Email Chris Mullen at cm@goldseek.com - Written by Chris Mullen Winners & Losers tracks NYSE and AMEX listed stocks that trade over $1. The Gold Seeker Closing Report is a free edition providing a daily wrap-up of gold & gold-related news. For more in-depth analysis of the gold markets, subscribe to The Gold Forecaster. All sources are given within the report and most articles can be found as they are released at http://www.capitalupdates.com/, http://www.goldseek.com/, http://www.silverseek.com/, and http://www.goldreview.com/. © Gold Seeker 2005 Note: The following article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. GoldSeek.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond GoldSeek.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. GoldSeek.com and employees associated with Gold Seek LLC do not trade the stocks mentioned in stock reports for one week prior to and one week following publication. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. GoldSeek.com may have been compensated for their services in preparing and publishing this report. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 23 December, 2005 | |
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