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-- Posted 6 March, 2006 | | Source: SilverSeek.com
Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com: Today’s Economic Data: Report | For | Reading | Expected | Previous | Factory Orders | Jan | -4.5% | -5.4% | 1.6% | -Ex. Transportation | Jan | 1.6% | - | - | Pending Home Resales | Jan | -1.1% | - | -2.6% |
Factory Orders fell the most since July 2000 as orders for aircrafts dropped. Tomorrow at 8:30AM EST brings the revised figure for 4th quarter Productivity expected at -0.1%. At 3PM is Consumer Credit for January expected at $5.0 billion. | Close | Gain/Loss | Gold | $555.20 | -$10.60 | Silver | $9.98 | -$0.20 | XAU | 132.57 | -3.34% | HUI | 306.53 | -3.92% | GDM | 974.95 | -3.53% | JSE Gold | 2664.41 | -1.06% | USD | 89.90 | +0.28 | Euro | 120.15 | -0.13 | Yen | 85.06 | -0.81 | Oil | $62.41 | -$1.26 | 10-Year | 4.738% | +0.054 | T-Bond | 110.75 | -0.625 | Dow | 10958.59 | -0.57% | Nasdaq | 2286.03 | -0.72% | S&P | 1278.26 | -0.70% |
Gold Warehouse Stocks: | 5,913,886 | - | Silver Warehouse Stocks: | 101,495,020 | - |
Gold traded slightly higher in Asia and rose to about $568 in London before it fell to near unchanged at the New York open. Gold then traded near unchanged to slightly lower in morning New York trade before it fell off markedly in afternoon trade and ended near its lows with a near 2% loss. Silver jumped around in very choppy action and traded mostly slightly lower in Asia, near unchanged in London, and mostly slightly higher in morning New York trade, but it also sold off in afternoon New York trade and ended almost 2% lower to fall from 22 year highs. Euro gold fell near €460, platinum lost $15 to $1,034, palladium lost $6 to $294, and copper dropped over 6 cents to the low $2.20s. Gold and silver equities traded just slightly lower in morning trade before they fell off over 4% in afternoon trade, but they did end off their lows of the session. More Precious Metals Analysis: “After the gold market attempted an early rally and failed to hold those gains it seemed like the market turned on the bull camp with a vengeance. With the Dollar higher, oil prices falling sharply and anxiety over the Iranian situation falling aggressively it is not surprising that the washout developed into a full fledged capital washout. In fact, with the concentrated or correlated decline in all the metals, it would seem like a broad sector of investors were questioning their long term commitment to the bull case. It is also possible that much softer than expected US economic numbers contributed to the decline in metals as a slower economy and weak energy prices certainly diffuses the inflation outlook.” - The Hightower Report, Futures Analysis and Forecasting Peter Spina of www.goldforecaster.com comments in today’s MarketWatch report that “Adding price pressure, it appears that the gold market hit some support levels, "which did not hold, and ignited some stop limit orders to quickly drop the gold price back to the mid $550s, said Peter Spina, an analyst at online resource GoldSeek.com.” Oil traded lower ahead of the IAEA meeting later today and the OPEC meeting on Wednesday. Expectations are that Iran’s production will not be affected from any IAEA actions and that OPEC will not reduce production. More on the oil market from Wayne Krautkramer: THE BLACK GOLD WATCHER’S COMMENTARY FOR MARCH 06, 2006 ANALYSIS OF BLACK GOLD! Today’s closing prices for Crude Oil changed the game again. Today’s close (3/06/2006) was very weak. The locals were out stop hunting. The weak holders, the public, were run out of the market. Short sales are now out of the question on Crude. Soon we will see how many traders will be caught on the short side! Subscribers to THE BLACK GOLD WATCHER (copyright 2006) have already been issued the appropriate instructions to capitalize on this change. The Dubai Ports World scandal continues to keep the heat on the short sellers. The bigger issue of the possible deception by the bio-fuel lobby may prove to be the biggest embarrassment yet for the current Administration, and the Congress. They are the ones who rammed through all the subsidies, and other pork barrel scams, at the behest of the AG lobbies. PITAGORAS INTERNACIONAL SA. Onlypill@cox.net http://onlypill.tripod.com/theblackgoldwatcher
Treasuries fell as the yield on the 10 year rose to new 20 month highs. The U.S. dollar index found decent gains as most continue to believe that the fed will continue to raise interest rates. U.S. bond yields at 20 month highs reinforce this view. Doubts that Japan and Europe may not be as aggressive as previously thought in terms of raising their own interest rates also reinforced the U.S. dollar. The Dow, Nasdaq, and S&P remained near unchanged Monday morning, but fell off in afternoon trade as worries over interest rates reignited. Among the big names making news in the market today were AT&T and BellSouth, Education Management, Bayer, NBC Universal and IVillage, Blackstone and CarrAmerica, General Motors and Suzuki, and Kroger. GATA Posts: Tocom joins Comex in concealing identities of market riggers Happy birthday, John Embry, and thanks for everything Market is prospecting for more gold mergers Tom Szabo: Silver ETF ironies China says it won't cut dollar holdings -- but will it stop adding to them? Bloomberg's weekly gold market survey quotes GATA consultant Turk James Turk: So far, only half a breakout Gold & Silver Stock News Update from GoldReview.com: Silver Standard’s increased resources at Pitarrilla, Canyon Resources’ director resignation, Nevsun’s welcoming of Eritrean Officials to PDAC, Placer Dome’s final day of trading, earnings from Aurizon and Northern Orion, and an earnings announcement from Coeur d’Alene were among the big stories in the gold and silver mining industry making headlines today. A rare batch of news also came out over the weekend. U.S. Gold announced that it was consolidating the Cortez trend in Nevada, Goldcorp announced their earnings, Queenstake replaced gold reserves, and Goldcorp and Silver Wheaton also announced new record reserve/resource levels. WINNERS 1. Minco Mining | MMK +11.36% $2.45 | 2. Lihir Gold | LIHRY +1.68% $33.85 | 3. Goldcorp | GG +0.50% $28.09 |
LOSERS 1. Cumberland | CLG -9.78% $3.32 | 2. Mines Management | MGN -7.74% $ $8.10 | 3. DRDGOLD | DROOY -6.96% $1.47 |
All of today's gold and silver stock news: IMPACT Announces Private Placement to Raise up to $8 Million - More
- March 06, 2006 | Item | E-mail
bcMetals Corporation: 2005 Financial Results Released & Red Chris Update - More
- March 06, 2006 | Item | E-mail
Bison Gold Issues Stock Options - More
- March 06, 2006 | Item | E-mail
Prize Mining Corporation - Development of Atlin Gold Property moves ahead - More
- March 06, 2006 | Item | E-mail
Tonogold Resources, Inc. Announces Conference Call for Exploration and Market Update - More
- March 06, 2006 | Item | E-mail
Combination of Areva's international gold producing assets with La Mancha Resources Inc. to create an international diversified gold producer - More
- March 06, 2006 | Item | E-mail
Nevada Pacific Gold Receives Unsolicited Offer from U.S. Gold Corporation - More
- March 06, 2006 | Item | E-mail
Mindoro Resources Ltd.: Intense IP Chargeability Anomaly Confirms a Significant Porphyry Copper-Gold Prospect at Calo - More
- March 06, 2006 | Item | E-mail
Tournigan Releases Two New Resource Estimates - More
- March 06, 2006 | Item | E-mail
Petaquilla Welcomes John S. Watt to its Management Team - More
- March 06, 2006 | Item | E-mail
NioGold Appoints New Directors and Officers - More
- March 06, 2006 | Item | E-mail
Aurizon Reports 2005 Financial Results - "Aurizon incurred a net loss from continuing operations for the year of $2.04 million or ($0.02) cents per share, compared with a net loss of $1.5 million, or ($0.01) cents per share in 2004. Excluding the recognition of a $2.06 million flow through tax benefit gain in the first quarter of 2005, Aurizon incurred a net loss of $4.1 million for the year." More
- March 06, 2006 | Item | E-mail
MetalCORP; BIG LAKE Drill Hole Yields 7.5% Copper, 2.2% Zinc, 138.0 g/t Silver & 9.2 g/t Gold over 4.0 metres (13.1 feet) - More
- March 06, 2006 | Item | E-mail
Canyon Resources Announces Resignation of Richard F. Mauro as Director - "Canyon Resources Corporation, a Colorado-based mining company announced today the resignation of Mr. Richard F. Mauro as a director of Canyon Resources as of March 2, 2006. Mr. Mauro stated that his resignation from the Board of Directors is due to personal reasons and was not influenced by the directions or policies of the Company." More
- March 06, 2006 | Item | E-mail
Coral Gold Resources Ltd. Announces Offer Received by U.S. Gold Corporation - More
- March 06, 2006 | Item | E-mail
Coral Gold Resources Ltd. Announces Closing of Private Placement - More
- March 06, 2006 | Item | E-mail
Sunridge Gold Reports 203 Metres of 1.77% Zinc & 0.41% Copper at Emba Derho, Asmara Project - More
- March 06, 2006 | Item | E-mail
Sherwood Intersects Very High Grade Copper-Gold at Minto Project, Yukon - More
- March 06, 2006 | Item | E-mail
Exall Resources Limited: Significant Results Continue at Gold Eagle Property in Red Lake, Ontario - More
- March 06, 2006 | Item | E-mail
Southern Star Resources Inc.: Multilple High Grade Gold Intersections - More
- March 06, 2006 | Item | E-mail
High River Gold Closes Strategic Alliance Agreement with Goldrush Resources Ltd for Burkina Faso - More
- March 06, 2006 | Item | E-mail
Laurion Gold Inc Announces the Acquisition of Eleven Unpatented Mining Claims in the Fortune and Cote Townships In Timmins, Ontario. - More
- March 06, 2006 | Item | E-mail
Tribute Returns Overlimit Zn Sample for Garnet Lake - More
- March 06, 2006 | Item | E-mail
Nevsun Welcomes Eritrean Ministry Officials to PDAC - "Nevsun Resources Ltd. is pleased to welcome to the PDAC in Toronto both the Minister of Energy & Mines of Eritrea, Tesfai Ghebreselassie, and the Director General of the Department of Mines, Alem Kibreab. Both have been very supportive to the Company and the industry." More
- March 06, 2006 | Item | E-mail
Vencan Plans Early Spring Geophysical Program Over Multiple, Previously Identified VMS Targets - 2000 Metre Drill Program to Follow - More
- March 06, 2006 | Item | E-mail
Garrison Update - More
- March 06, 2006 | Item | E-mail
Etruscan secures debt financing and awards engineering contract for the Youga Gold Mine - More
- March 06, 2006 | Item | E-mail
Equitable Mining Corp. Announces Several steps to bolster its drive to reach production - More
- March 06, 2006 | Item | E-mail
GoldQuest Reviews 2005 and Outlines Work Programs for 2006 - More
- March 06, 2006 | Item | E-mail
Azimut and Northwestern Sign Letter of Intent for Uranium Property in Northern Quebec - More
- March 06, 2006 | Item | E-mail
Killam North Production Reaches 316 BOPD Net to Vangold's Interest - More
- March 06, 2006 | Item | E-mail
Western Keltic Advances Pre-Feasibility Work at Kutcho Creek - More
- March 06, 2006 | Item | E-mail
VME announces the acquisition of two additional uranium property options and closing of Energy Fuels acquisition and private placement - More
- March 06, 2006 | Item | E-mail
Temex enters into an agreement to acquire high grade silver property, 40 million ounces of historical production - More
- March 06, 2006 | Item | E-mail
Queenston - Globex Intersect High-Grade Gold Discovery - More
- March 06, 2006 | Item | E-mail
SearchGold Hires Well-Known Investor Relations Firm German-Based Value Relations Gmbh - More
- March 06, 2006 | Item | E-mail
Philex Gold Announces Results of Infill Drill Holes at the Boyongan Property - More
- March 06, 2006 | Item | E-mail
MetalCORP Ltd.; New DISCOVERY: 12.2 g/t PLATINUM (Pt) over 3.7 metres in Drilling on the NORTH ROCK Project - More
- March 06, 2006 | Item | E-mail
Mena Resources Inc.: Drilling Program Resumes on the Increible 6 Gold Project, Bolivar State, Venezuela - More
- March 06, 2006 | Item | E-mail
Mustang Minerals Corp.: Drilling Expands M2 Cu-Ni Zone - More
- March 06, 2006 | Item | E-mail
Marum purchases Angelina property in Manitoba - More
- March 06, 2006 | Item | E-mail
High grade results from first holes of Pelangio's winter drilling program - More
- March 06, 2006 | Item | E-mail
Luna and Centerra Gold finalize exploration agreement on Red Rock, prepare 2006 exploration program - More
- March 06, 2006 | Item | E-mail
Murgor Drilling Extends Gold Zone F-17 with Two More Down Plunge Intersections at the Windfall Property, NW Quebe - More
- March 06, 2006 | Item | E-mail
Maxam Gold Corporation Provides Development Update on the Xcentia/Maxam Process - More
- March 06, 2006 | Item | E-mail
Great West Gold, Inc. - Further Stock Dividends - More
- March 06, 2006 | Item | E-mail
Excellon Announces Six Additional Sulphide Intercepts in the Guadalupe Manto and Buy-Out of IMDEX/Cascabel Finder's Fee - More
- March 06, 2006 | Item | E-mail
Globex: New Gold Discovery 22.6 g/t Gold '0.66 Oz/T Gold' Over 22.9 M '75.1 Ft' True Width at Wood-Pandora Property - More
- March 06, 2006 | Item | E-mail
King's Bay Gold to Commence Exploration Program at Rowan Mine, Red Lake - More
- March 06, 2006 | Item | E-mail
Popintsi Restraining Against EurOmax Terminated - Exploration to Recommence - More
- March 06, 2006 | Item | E-mail
Gossan Vends Angelina Property - More
- March 06, 2006 | Item | E-mail
Itronics Schedules Shareholder Meeting for March 31 in Reno, Nevada - More
- March 06, 2006 | Item | E-mail
Bravo Venture Group Inc.: Battle Mountain/Eureka Trend Update - More
- March 06, 2006 | Item | E-mail
Birim Goldfields Inc.: Work Starts on the Nkenkasu Licence Along the Ahafo Shear on Ghana's Sefwi Gold Belt, 13 Km of Prospective Gold Trend Under Licence - More
- March 06, 2006 | Item | E-mail
Dynasty Metals & Mining Inc.: Preliminary Assessment Report Recommends Final Feasibility on Jerusalem Gold Project - More
- March 06, 2006 | Item | E-mail
Apogee Minerals Ltd.: Bolivian Mining Minister Sends Positive Message for Business Investment at PDAC Press Conference - More
- March 06, 2006 | Item | E-mail
Peru Copper announces new copper reserve estimate at its Toromocho Project - More
- March 06, 2006 | Item | E-mail
Diadem Verifies Geochemical Gold-In-Soil Anomaly On Tinkeleni Property Gold-In-Soil Values Ranging Up To 3 g/t Gold Obtained - More
- March 06, 2006 | Item | E-mail
Anatolia Engages Project Finance Advisor - More
- March 06, 2006 | Item | E-mail
Northern Orion Reports Record Fourth Quarter and 2005 - "Northern Orion is pleased to report record net earnings of $18,695,000 ($0.13 per share) for the fourth quarter of 2005 and net earnings of $44,128,000 ($0.31 per share) for the year ended December 31, 2005, compared with net loss of $16,477,000 ($0.15 per share) and net earnings of $1,229,000 ($0.01 per share) for the same periods in 2004 respectively." More
- March 06, 2006 | Item | E-mail
Coeur d'Alene Mines Corporation Announces Fourth Quarter and Year-End 2005 Earnings Conference Call Schedule - "COEUR D'ALENE MINES CORPORATION will report its fourth quarter and year-end 2005 results on Tuesday, March 7, 2006 before the New York Stock Exchange opens for trading. There will be a conference call that day at 1:00 p.m. Eastern time." More
- March 06, 2006 | Item | E-mail
Liberia's former rebels scratch living from gold - "Splattered with mud and dragging a heavy shovel, former rebel soldier Timothy Johnson has come to the dusty streets of Fish Town to enjoy his illicit gains -- three grams of gold wrapped in paper. Like scores of other ex-fighters in the far-flung corner of eastern Liberia, Johnson turned to illegal mining to survive after 14 years of on-off war in the West African country ended in 2003. "We have to go to the gold mines to dig. If we do not do that, we will not survive," said Johnson, who wore cut-off black jeans and a ripped T-shirt." More
- March 06, 2006 | Item | E-mail
Final Day for Trading of Placer Dome Common Shares Will be March 8, 2006 - "Placer Dome Inc. announces that March 8, 2006 will be the final day for trading of its common shares on the Toronto Stock Exchange and the New York Stock Exchange. Trading of Placer Dome common shares on all other stock exchanges, including international depositary receipts and CHESS depositary interests, will be terminated on or before such date. In connection with the compulsory acquisition by Barrick Gold Corporation of all of the common shares of Placer Dome that were not previously tendered to Barrick's take-over bid, the Placer Dome share transfer books will be closed at the end of day on March 8, 2006." More
- March 06, 2006 | Item | E-mail
Silver Standard Increases Silver Resources at Pitarrilla Project in Mexico By 30% - "Silver Standard Resources Inc. is pleased to report that based on recent drilling, project resources have increased by 30%, comprised of indicated silver resources of 67.2 million ounces and inferred silver resources of 130.2 million ounces, at its wholly-owned Pitarrilla silver project located in the state of Durango, Mexico." More
- March 06, 2006 | Item | E-mail
News from this past weekend: U.S. Gold Corporation Consolidating Cortez Trend in Nevada - "U.S. Gold Corporation today announced that it intends to acquire, in stock transactions, all of the outstanding common shares of four companies that are exploring in the Cortez Trend in Nevada. These companies, White Knight Resources Ltd., Nevada Pacific Gold Ltd., Coral Gold Resources Ltd., and Tone Resources Ltd., have mineral properties that are adjacent to or near U.S. Gold's Tonkin Springs property. Together these mineral properties would represent a significant land position and consolidation in the Cortez Trend." More
- March 05, 2006 | Item | E-mail
Goldcorp reports record profits, sees output rising - "Canada's Goldcorp Inc, poised for big growth as it buys up assets from a gold sector takeover, on Sunday reported record earnings in the fourth quarter, and said gold production would leap to 2 million ounces in 2006. The company, based in Vancouver, said it earned $101.7 million, or 27 cents a diluted share, in the fourth quarter, up from $14.9 million, or 8 cents a share in the fourth quarter of 2004." More
- March 05, 2006 | Item | E-mail
Queenstake Replaces Gold Reserves at Jerritt Canyon; Starvation Canyon Advances Into Reserves - "Proven and probable reserves(1,2) totaled 877,900 ounces of gold contained in 3.7 million tons (3.4 million tonnes) at an average grade of 0.24 ounce of gold per ton (opt) or 8.1 grams per tonne (gpt) at year-end 2005, based on a three-year average gold price of $410 per ounce. Measured and indicated resources(1,2), including reserves, were estimated at 2.1 million ounces of gold contained in 8.8 million tons (8.0 million tonnes) at an average grade of 0.24 opt (8.1 gpt)." More
- March 05, 2006 | Item | E-mail
Silver Wheaton Corp.: Record Silver Reserve and Resource Levels Achieved at Luismin - "Silver Wheaton Corp. is pleased to report record levels of silver reserves and resources at the Luismin mines in Mexico. At December 31, 2005, the Luismin mines had proven and probable silver reserves of 45.4 million ounces, measured and indicated resources of 1.7 million ounces and inferred resources of 188.4 million ounces, an increase of 13% in reserves and 29% in inferred resources compared to December 31, 2004, after producing 7.7 million ounces during 2005." More
- March 05, 2006 | Item | E-mail
Goldcorp Inc.: Annual Earnings Increase 460% to $286 Million - "Record net earnings of $286 million ($0.91 per share) for 2005, an increase of 460% compared with $51 million ($0.27 per share) in 2004. Record fourth quarter net earnings of $102 million ($0.30 per share), compared to 2004 earnings of $15 million ($0.08 per share)." More
- March 05, 2006 | Item | E-mail
Goldcorp Achieves Record Reserve/Resource Levels - "Through a combination of acquisitions and organic growth, our gold reserves have nearly tripled during 2005, to 14.7 million ounces. Even more impressive is our growth in resources as this represents the long term future of the Company. The Company now has almost 3 million ounces of Measured and Indicated resources and over 7 million ounces of Inferred resources. These reserves and resources provide Goldcorp with an excellent base for the years ahead." More
- March 05, 2006 | Item | E-mail
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 2006 Note: This 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. 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 6 March, 2006 | |
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