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-- Posted 18 January, 2006 | | Source: SilverSeek.com
Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com: Report | For | Reading | Expected | Previous | CPI | Dec | -0.1% | 0.2% | -0.6% | Core CPI | Dec | 0.2% | 0.2% | 0.2% | Net Foreign Purchases | Nov | $89.1B | - | $104.2B |
CPI data initially eased inflation fears as it came in lower than expected for December, but inflation fears were later raised as traders looked into the report and saw that year-on-year CPI rose the most in 5 years for the 12 months ending in December at 3.4%. Core CPI rose 2.2% year-on-year. TIC data easily covered November’s trade deficit of $64.2B despite falling from October’s record inflow. The Fed’s Beige Book showed some economic expansion. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 1/14 expected at 315,000, Building Permits for December expected at 2,100,000, and Housing Starts for December expected at 2,035,000. At noon is the Philadelphia Fed for January expected at 13.0. | Close | Gain/Loss | Gold | $543.90 | -$9.40 | Silver | $8.79 | -$0.19 | XAU | 137.64 | -3.05% | HUI | 297.05 | -3.67% | GDM | 948.59 | -3.55% | JSE Gold | 2685.00 | -0.76 | USD | 89.29 | +0.06 | Euro | 120.87 | -0.05 | Yen | 86.68 | +0.15 | Oil | $65.73 | -$0.58 | 10-Year | 4.34% | +0.008 | T-Bond | 114.75 | -0.15625 | Dow | 10854.86 | -0.38% | Nasdaq | 2279.64 | -1.00% | S&P | 1277.93 | -0.39% |
Gold Warehouse Stocks: | 7,009,752 | - | Silver Warehouse Stocks: | 120,604,815 | - |
Gold started off mixed oversees before falling over $10 in later Asian trade and then held around $545 in London and New York before it ended near its lows of the session with a notable loss. Silver also started off mixed before it steadily fell off throughout trade in Asia, London, and New York and ended near its lows with an over 2% loss. Gold and silver equities started off around 2% lower and continued to drop throughout trade to end with about 3.5% losses. More Precious Metals Analysis: “The precious metals market came under early pressure, attempted to bounce and then fell back down in the wake of a mid day rally in the US Dollar. With the Press reporting trade selling in the gold market we can understand the bear camp gaining an even bigger measure of control over prices. We also have to think that the ongoing weakness in world equity markets was facilitating the decline in gold and silver. It was certainly clear that the precious metals were out of favor and the industrial metals were in favor, as the funds were selling gold and buying copper and zinc.” - The Hightower Report, Futures Analysis and Forecasting The U.S. dollar index traded mixed in choppy trade as traders digested CPI and TIC reports and evaluated comments from an ECB Executive Board member about interest rate hikes in Europe that were later denied. Oil traded up near $67 overnight on further concerns over Iran and Nigeria, but expectations for builds in inventory reports tomorrow drove prices lower by the end of trade. Treasuries started off trade higher on the tame December CPI report, but they soon fell off to find slight losses as traders looked further into the report and saw that Core CPI was up 2.2% for the year and CPI was up 3.4% year-on-year. The Dow, Nasdaq, and S&P fell on rollover weakness from the Nikkei falling 2.9% yesterday and on earnings disappointments. Among the big names making news in the market today were United, AMR Corp., Charles Schwab, JPMorgan, Southwest, SunTrust, Bank of New York, and Sony Ericsson. ADVERTISEMENT Outlawed for 41 years, now legal again, this investment launched the largest family fortune the world has ever seen ... and could return 665% in the next 12 months - Read More... Gold & Silver Stock News Update from GoldReview.com: Cambior’s increase in proven and probable ore reserves, Crystallex’s $31,300,000 private placement financing, Glencairn’s commercial production at Bellavista, Queenstake’s drilling at Starvation Canyon, Fortuna Silver’s drilling update, IMA’s comments on recent market activity, and Pan American Silver’s silver coin and bar sales were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Crystallex | KRY +6.06% $2.80 |
LOSERS 1. DRDGOLD | DROOY -11.34% $1.72 | 2. Metallica | MRB -7.85% $2.23 | 3. Almaden Minerals | AAU -7.66% $2.41 |
All of today's gold and silver stock news:  Eagle Plains Completes 2005 Exploration Work on Kalum Gold Project; West-Central British Columbia - More
- January 18, 2006 | Item | E-mail
Candente and Gallipoli Commence Drilling on Alto Dorado Gold-Copper Property in Peru - More
- January 18, 2006 | Item | E-mail
Kiewit Gold Zone and Porphyry Target Drilling Resumes - More
- January 18, 2006 | Item | E-mail
Aurelian Reports Gold Targets For The Condor Project - More
- January 18, 2006 | Item | E-mail
Mexivada Mining Corp. - Ziggurat Gold-Silver Property Staked at Round Mountain, Nevada; Gold Junction Geophysics Begins - More
- January 18, 2006 | Item | E-mail
Kalimantan establishes presence in London - More
- January 18, 2006 | Item | E-mail
Crystallex to raise $31 mln in private placement - "Crystallex International Corp., which is waiting for a permit to develop its large gold deposit in Venezuela, will issue $31.3 million in units to help fund the project, the company said on Wednesday. Crystallex will sell about 10.8 million units at a price of $2.90 each in a private placement. The units will consist of one common share and 1.512 common share purchase warrant for a total of 10.8 million common shares and 16.3 million warrants." More
- January 18, 2006 | Item | E-mail
Drilling Intersects Significant PGM Values at Anooraq-Anglo Platinum Thusong Joint Venture - More
- January 18, 2006 | Item | E-mail
Intrepid Minerals Reports On Merger Progress - More
- January 18, 2006 | Item | E-mail
Former VP Exploration of Goldcorp Inc., Gilles Filion, Joins MetalCORP Board - More
- January 18, 2006 | Item | E-mail
Lakota Issues Shares for Debt - More
- January 18, 2006 | Item | E-mail
Monster Copper Announces Assays and Airborne Survey Results, Labrador - More
- January 18, 2006 | Item | E-mail
Fortuna Provides Drilling Update - "Fortuna Silver Mines Inc. is pleased to report that initial underground drilling on the La Plata vein has intersected new high grade silver and gold mineralization, with a best interval of 1.35m @ 1387 gpt Ag, 16.5 gpt Au. La Plata is just one of numerous high grade "traditional" veins which comprise the extensive silver-lead-zinc and gold mineralized system at the Company's 100% owned Caylloma Silver Mine. The vein is located only 0.5 km south of the larger polymetallic Animas vein and within 1.5 km of the processing plant." More
- January 18, 2006 | Item | E-mail
Coronation Minerals Inc.: Press Release - More
- January 18, 2006 | Item | E-mail
Andean American Mining Corp.: Geological Update for the Invicta Gold-Silver-Copper Project - More
- January 18, 2006 | Item | E-mail
SIRIOS: Private Placement With SODEMEX II - More
- January 18, 2006 | Item | E-mail
Vantex Starts Exploration Works on ANA, James Bay - More
- January 18, 2006 | Item | E-mail
Viceroy Continues to Intersect High Grade at Gualcamayo including a New Exploration Zone West of Magdalena - More
- January 18, 2006 | Item | E-mail
Wits Basin Receives Further Extension to Purchase the Bates-Hunter Gold Mine - More
- January 18, 2006 | Item | E-mail
Metaline Contact Mines: Amazing Underground Film of a Production Round Being Exploded at Golden Chest Mine - More
- January 18, 2006 | Item | E-mail
Norsemont Mining increases financing - More
- January 18, 2006 | Item | E-mail
First Quantum Minerals Announces a Share Exchange Offer Valued at C$189.3 Million to Acquire All Outstanding Shares of Adastra Minerals - More
- January 18, 2006 | Item | E-mail
Capstone Cuts More High Grades at its Copala Silver-Gold Project, Sinaloa State, Mexico - More
- January 18, 2006 | Item | E-mail
Argentex Mining commences Phase Two exploration at silver-gold Pinguino property, Argentina - More
- January 18, 2006 | Item | E-mail
Comments on IMA's Market Activity - "Mr. Joseph Grosso, on behalf of the Company would like to comment on the latest market activity and confirm that there are no fundamental changes to report. The Company is proceeding with the 10,000 meter exploration drill program and commencing the scoping study (pre-feasibility) on the Navidad project." More
- January 18, 2006 | Item | E-mail
Idaho General Announces Drilling Plan for Evaluating Zinc Mineralization at Mount Hope - More
- January 18, 2006 | Item | E-mail
Cambior Inc.: 42% Increase in Proven and Probable Ore Reserves - "Cambior Inc. is pleased to announce that its proven and probable ore reserves totalled 5,036,000 ounces on December 31st, 2005, representing a net increase of 1,495,000 ounces or 42.2% over the December 31, 2004 estimate. The increase is attributable to a net gain of 753,000 ounces at the Rosebel mine and the inclusion of 1.1 million ounces in the probable category following the completion of the Camp Caiman Feasibility Study in August 2005." More
- January 18, 2006 | Item | E-mail
Pan American silver coin and bar sales exceed 500,000 ounces - "Pan American Silver Corp. is pleased to announce that as of today, more than 500,000 ounces of Pan American silver coins and bars have been sold by the Northwest Territorial Mint since sales began April 26, 2005. The line of bullion products, each featuring Pan American's trademark "silver hammer", comprise .999 pure silver rounds and bars in one, five and ten ounce weights using silver supplied from Pan American's La Colorada mine in Mexico." More
- January 18, 2006 | Item | E-mail
Crystallex International Corporation Announces U.S. $31,300,000 Private Placement Financing - "Crystallex International Corporation announced today that it has agreed to issue and sell to an investor by way of a non-brokered private placement an aggregate of approximately 10,799,000 units at a purchase price of U.S.$2.90 per Unit for aggregate gross proceeds of approximately U.S.$31,317,100. Each Unit will consist of one common share in the capital of the Corporation and 1.512 common share purchase warrants. In the aggregate, the Corporation will be issuing 10,799,000 common shares and 16,333,000 Warrants." More
- January 18, 2006 | Item | E-mail
Glencairn achieves commercial production at Bellavista - "The final operating permits for the Bellavista Mine were obtained in December. The mine continues to ramp up to full production and is currently producing gold at approximately 85% of its 5,000-oz.-per-month rated capacity. The mine is expected to produce an average of 60,000 oz. per year over the next seven years based on current proven and probable mineral reserves. A total of 798,348 tonnes of ore grading 1.67 grams per tonne were placed on the leach pads at Bellavista in 2005." More
- January 18, 2006 | Item | E-mail
Queenstake's Drilling at Starvation Canyon Continues to Hit High Grade Gold Mineralization - "Queenstake Resources Ltd.'s recently completed exploration program(1) at the Starvation Canyon project intercepted high grade mineralization with substantial intervals, extending the mineralized zone to the south. Two holes, TJ-216C and TJ-242, had intercepts of 60 feet of 0.357 ounce of gold per ton (opt) or 18.3 meters of 12 grams of gold per tonne (gpt), and 45 feet of 0.413 opt or 13.7 meters of 14 gpt, respectively." More
- January 18, 2006 | Item | E-mail
Atlantis Business Development Corporation Is Actively Seeking a Gold and Precious Metal Company - More
- January 18, 2006 | Item | E-mail
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-- Posted 18 January, 2006 | |
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