"This week gold consolidated and not too convincingly - yet. Physical buying in India picked up but was not seen in international markets, yet!
E.T.F. buying waned, simply because gold prices were dropping, seems like people like to buy when prices are rising.
More Central Bank selling than seen in the last month, came in but was still below past volumes.
Short-term factors held the gold price down, but long-term fundamentals point upwards strongly, not the least of these being we do not expect Germany to sell its gold reserves.
Next week should see more consolidation, which could be interrupted by dramatic news." - Julian D. W. Phillips of
www.goldforecaster.com
The U.S. dollar index found gains early on the higher than expected PPI report that may influence the fed to continue to raise interest rates, but it then fell following the economically disappointing consumer sentiment report. The euro rebounded from 6 week lows.
Oil climbed back near $60 on renewed worries about unrest in Nigeria. NYMEX March contracts expire on Tuesday.
Treasuries surged higher despite higher than expected PPI and then furthered their gains after poor consumer sentiment figures were reported.
The Dow, Nasdaq, and S&P fell on poor economic data and higher oil prices, but losses were minimal. The Dow fell from 4 and ½ year highs.
Among the big names making news in the market Friday were Time Warner and Icahn, Merrill Lynch, Campbell Soup, Bank of America, Delphi and GM, Dell, Sirius, J.M. Smucker, Time Warner and Univision, KeySpan, and RadioShack.
Gold & Silver Stock News Update from GoldReview.com:
Pan American Silver’s plans to restate financial results, Gold Fields’ appointment of 2 non-executive directors and court approval of their Bolivar Gold acquisition, Apex Silver’s termination of a joint venture with General Minerals Corporation, and Hecla’s appointed general counsel were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Apex Silver | SIL +11.46% $18.28 |
2. Seabridge | SA +8.09% $7.88 |
3. Rio Narcea | RNO +7.87% $1.92 |
LOSERS
1. Rubicon | RBY -2.61% $1.12 |
2. AngloGold | AU -1.81% $54.12 |
3. Metallica | MRB -1.5% $2.62 |
All of Friday's gold and silver stock news:
Northwater Resources Inc.: VentureQuest Group Changes Name and Stock Symbol - More
- February 17, 2006 | Item | E-mail
Red Back Corporate Update - More
- February 17, 2006 | Item | E-mail
Laurion Gold Inc. Announces Shares for Settlement of Claims - More
- February 17, 2006 | Item | E-mail
Olympus Pacific Minerals Inc.: Douglas Willock Joins Olympus' Board of Directors - More
- February 17, 2006 | Item | E-mail
Jasper Mining Corporation announces final results from diamond drill program on Isintok property - More
- February 17, 2006 | Item | E-mail
Court Approves Plan of Arrangement for Gold Fields to Acquire Bolivar Gold - "Gold Fields Limited and Bolivar Gold Corp. announced today that the Supreme Court of the Yukon Territory of Canada has approved the plan of arrangement through which Gold Fields will combine Bolivar Gold with its international asset portfolio. The transaction is expected to be completed by the end of February 2006." More
- February 17, 2006 | Item | E-mail
Helio Closes $2,000,000 Private Placement - More
- February 17, 2006 | Item | E-mail
Firestone Ventures Begins Drilling at Torlon Hill High-Grade Zinc Project - More
- February 17, 2006 | Item | E-mail
Eclips Progresses With Acquisition Of Gold Project In Quebec - More
- February 17, 2006 | Item | E-mail
Mr. Earl Young Joins the Advisory Board of Mayfair Mining & Minerals, Inc. - More
- February 17, 2006 | Item | E-mail
Quinto completes closing of private placement - More
- February 17, 2006 | Item | E-mail
Aurelian Commences Drilling on the Fruta Del Norte Epithermal Gold-Silver Targets - More
- February 17, 2006 | Item | E-mail
MacMillan Gold $2,500,000 Private Placement Approved - More
- February 17, 2006 | Item | E-mail
EKWAN-X: Continuing Data Acquisition Program - More
- February 17, 2006 | Item | E-mail
Notice: DPM 2005 Financial Results - More
- February 17, 2006 | Item | E-mail
Great West Gold, Inc. - Share Price and Trading Activity - More
- February 17, 2006 | Item | E-mail
Unico, Inc. Announces Shareholder Approval of Proposals at Shareholder Meeting and Comments on Revenue Streams - More
- February 17, 2006 | Item | E-mail
Goldcrest Commences 1,500 Meter RC Drilling Program on the Maména Prospect, Kampti Permit, Burkina Faso, West Africa - More
- February 17, 2006 | Item | E-mail
Idaho General Announces Application for AMEX Listing - More
- February 17, 2006 | Item | E-mail
Kyrgyz court demands more tax from Canadian miner - "A court in Kyrgyzstan has ordered Canada's Centerra Gold Inc., which operates a gold mine in the Central Asian country, to pay $1.1 million in additional land taxes, the court said on Friday. Kyrgyz MP Kubanychbek Isabekov, who has spearheaded moves to demand more payments from the operator of the Kumtor gold mine, has said the measure was necessary to ensure law and order in the country." More
- February 17, 2006 | Item | E-mail
Radisson Reports High Grade Molybdenum and Gold Assays on Properties in Northwestern Ontario - More
- February 17, 2006 | Item | E-mail
AuEx Ventures, Inc.: Pasco Canyon Prospect Optioned to Piedmont Mining - More
- February 17, 2006 | Item | E-mail
General Minerals Corporation Announces Termination of the Joint Venture Agreement with Apex Silver Mines Ltd. on the Malku Khota Silver Property - "General Minerals Corporation announced the termination of its agreement with Apex Silver Mines Ltd. and its wholly owned subsidiary SILEX Bolivia S.A. on the Malku Khota silver-gold property located in west central Bolivia. After completing an initial drill program and resampling an existing tunnel SILEX has elected to not proceed with the project." More
- February 17, 2006 | Item | E-mail
Wits Basin Enlists Dr. Clyde Smith to Assist With the Colorado Gold Project - More
- February 17, 2006 | Item | E-mail
Major Farms into EurOmax Trun Project in Bulgaria - More
- February 17, 2006 | Item | E-mail
Hecla Appoints General Counsel - "The Board of Directors of Hecla Mining Company has appointed Philip C. Wolf to the position of Vice President and General Counsel, effective immediately. Wolf has more than 30 years of legal experience, with 20 years of experience in the mining industry." More
- February 17, 2006 | Item | E-mail
Gold Fields Limited: Appointment of Two Non-Executive Directors - "In terms of Section 3.59 of the Listings Requirements of JSE Limited, the Board of Gold Fields Limited is pleased to announce that Mr Donald Ncube and Mr John Hopwood have been appointed non-executive directors of the company with immediate effect." More
- February 17, 2006 | Item | E-mail
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- Written by Chris Mullen
Winners & Losers tracks NYSE and AMEX listed stocks that trade over $1.
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© Gold Seeker 2006
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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. Gold-Seeker.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 Gold-Seeker.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. 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 17 February, 2006 | |
