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-- Posted 25 May, 2006 | | Source: SilverSeek.com
Market Analysis from GoldSeek.com, SilverSeek.com & CapitalUpdates.com: Today’s Economic Data: Report | For | Reading | Expected | Previous | GDP – Preliminary | Q1 | 5.3% | 5.8% | 4.8% | Chain Deflator | Q1 | 3.3% | 3.3% | 3.3% | Initial Claims | 5/20 | 329K | 318K | 369K | Existing Home Sales | Apr | 6.76M | 6.75M | 6.92M | Help-Wanted Index | Apr | 35 | 38 | 38 |
The 1st quarter core personal consumption expenditures price index was up an unrevised 2.0%. Tomorrow at 8:30AM EST brings Personal income for April expected at 0.7% and Personal Spending expected at 0.6%. At 9:50AM is the revised reading for May Michigan Sentiment expected at 79.0. | Close | Gain/Loss | Gold | $648.30 | +$10.90 | Silver | $12.57 | +$0.06 | XAU | 142.13 | +4.86% | HUI | 328.10 | +5.15% | GDM | 1041.27 | +4.95% | JSE Gold | 2749.25 | +1.21% | USD | 84.75 | -0.21 | Euro | 128.04 | +0.28 | Yen | 89.48 | +0.72 | Oil | $71.32 | +$1.46 | 10-Year | 5.074% | +0.040 | T-Bond | 106.875 | -0.375 | Dow | 11211.05 | +0.84% | Nasdaq | 2198.24 | +1.34% | S&P | 1272.88 | +1.14% |
Gold Warehouse Stocks: | 7,796,127 | - | Silver Warehouse Stocks: | 113,677,274 | - |
Gold quickly jumped above $640 in access trade late yesterday and traded near $645 in Asia before it traded in a range of about $639 to $647 in London and dropped back near $640 by the open in New York, but it then steadily climbed higher throughout trade in New York and ended near its highs with a 1.71% gain. Silver remained near unchanged in Asia and traded in a range of about $12.30 to $12.65 in London before it came into New York near the bottom of that range. It then climbed up over $12.75 in late morning New York trade before it fell off into the close and ended just 0.48% higher.
Euro gold rose back near €510, platinum gained $9 to $1,285, palladium gained $3 to $347, and copper gained over 10 cents to near $3.70. Gold and silver equities steadily gained throughout trade and ended at their highs with about 5% gains. From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com: “Noticeable divergences: silver, copper and the shares finished above their Wednesday lows. Only gold, which has an option expiry tomorrow, failed to do so. My phone never rang so much as it did today. The increased market volatility is shaking people up. Better get used it. This is nothing compared to what lies ahead for the US financial markets. If there was a plus today it was that it appears the gold/silver shares are SOLD OUT. The XAU fell 5.65 to 135.54 and the HUI gave up 12.76 to 312.03, but appears to have put in a triple bottom. My guess is The Gold Cartel was in there buying all they could, now that they have gold down for tomorrow’s option expiry.” Oil rose on speculation over rising demand heading into driving season and on supply concerns heading into hurricane season. The U.S. dollar index traded mostly slightly lower on weaker than expected GDP data, but losses were limited by other mixed economic data. Treasuries traded on either side of unchanged but ended near their lows in reaction to various economic reports. The Dow, Nasdaq, and S&P rose on mostly weak economic data and easing inflation concerns that relieved rising interest rate fears. Among the big names making news in the market today were Apollo Management and Rexnord, Hormel, MasterCard, Yahoo and eBay, LSE, Regions Financial and AmSouth Bancorp, Energy Partners and Stone Energy, and Nintendo. Gold & Silver Stock News Update from GoldReview.com: Almaden’s (AAU) optioned gold-silver properties, Miramar’s (MNG) exploration results, Bema Gold’s (BGO) increased mineral reserves, Royal Gold’s (RGLD) CFO appointment, Glamis Gold (GLG) as a signatory to the International Cyanide Management Code, and New Gold’s (NGD) drill results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Metallica Resources | MRB +11.24% $2.97 | 2. Miramar Mining | MNG +9.27% $3.42 | 3. Cardero Resource | CDY +9.01% $2.42 |
LOSER 1. Rubicon Minerals | RBY -1.46% $1.35 |
All of today's gold and silver stock news: Almaden Minerals Ltd.: Three British Columbia Gold-Silver Properties Optioned - "Almaden Minerals Ltd. is pleased to announce that it has completed two separate option agreements on three of its 100% held gold-silver projects located in the Spences Bridge Area, British Columbia. The Nicoamen River Project has been optioned to Tanqueray Resources Ltd. under terms whereby Tanqueray can acquire a 60% interest in the project though spending $C4 Million over 4 years and issuing 1,000,000 shares of Tanqueray to Almaden during the same period." More
- May 25, 2006 | Item | E-mail
American International Ventures Announces Commencement of Core Drilling Program at the Bruner Property, Nevada - More
- May 25, 2006 | Item | E-mail
Sayana Drill Hole SY06-05 Clarification - More
- May 25, 2006 | Item | E-mail
ECU Silver Mining Inc.: Press Release - More
- May 25, 2006 | Item | E-mail
ANDINA Minerals Inc.: Volcan Definition Drilling Returns 126 Metres Grading 1.05 g/t Gold - More
- May 25, 2006 | Item | E-mail
Asia Now Resources Begins Underground Sampling at Dongchuan Project Adjacent to Boka Gold Deposit - More
- May 25, 2006 | Item | E-mail
Odyssey's Drilling at Tavsan Expands Gold Zones - More
- May 25, 2006 | Item | E-mail
Consolidated Gold Win Ventures Inc.: Kimberlite Intersected in Western Step Out at Mud Lake Diamondiferous Sill - More
- May 25, 2006 | Item | E-mail
Frontier Pacific Mining Corporation: Confirmation Uranium (U(3)O(8)) Assays on Sayana Drill Hole SY06-05 - More
- May 25, 2006 | Item | E-mail
Alamos Gold Inc. Announces Election of Directors and Grant of Incentive Stock Options - More
- May 25, 2006 | Item | E-mail
Ross River Minerals: Investor relations - More
- May 25, 2006 | Item | E-mail
Palmarejo Silver and Gold Corporation Announces its Results for the Third Quarter Ended March 31, 2006 - More
- May 25, 2006 | Item | E-mail
Starfield completes private placement - More
- May 25, 2006 | Item | E-mail
StrataGold Announces Corporate Changes - More
- May 25, 2006 | Item | E-mail
Energy Fuels Announces Opening Of Two Previously Operated Mines - More
- May 25, 2006 | Item | E-mail
Vangold Resources Ltd.: Trenching at Mt Nakru Suggests Widespread Gold - More
- May 25, 2006 | Item | E-mail
New Guinea Gold Corporation: Trenching at Mt Nakru Suggests Intermittant Gold Present in Structural Zone in Excess of 1km Long by 300m Wide - More
- May 25, 2006 | Item | E-mail
Chapleau Resources Ltd. acquires additional 10,000 hectares in Brazil - More
- May 25, 2006 | Item | E-mail
Miramar Reports Significant Progress at Madrid - "Miramar Mining Corporation today announced the first results from the 2006 exploration program at its Hope Bay Project in Nunavut. The program is focussed on the Madrid district, where drills are currently testing in the Naartok/Suluk Gap and the Rand/Suluk Gap, two key areas where proven mineralization would enhance the Large Pit Concept at Madrid. In the latest drilling significant results were also obtained along the southern extension of Suluk and from shallow Suluk infill drilling. These results along with ongoing drilling and technical studies will allow Miramar to evaluate the potential for larger scale production for the next phase of development on the belt." More
- May 25, 2006 | Item | E-mail
Nuinsco Reports Higher Grade Continuity at Depth on Minago Nickel Project - More
- May 25, 2006 | Item | E-mail
Bema Increases Mineral Reserve and Mine Life at Kupol Project/Commences Draw Down of $400 million Kupol Project Loan - "Bema Gold Corporation is pleased to announce the new Mineral Reserve calculation for the 75% owned Kupol project located in north eastern Russia. Based on the results from the 2005 exploration program, Bema has increased the previously announced Probable Mineral Reserves by 15% adding an additional two years to the Kupol mine life." More
- May 25, 2006 | Item | E-mail
Uranium One submits application to commercially mine and mill radioactive ore at Honeymoon - More
- May 25, 2006 | Item | E-mail
Bulk Sample Produces 176.5 Oz of Gold for Houston Lake Mining - More
- May 25, 2006 | Item | E-mail
Michigan Gold Announces Appointment of Consultant - More
- May 25, 2006 | Item | E-mail
Royal Gold Names Wenger as Chief Financial Officer - "ROYAL GOLD, INC. the leading publicly-traded precious metals royalty company, today announced that Stefan L. Wenger has been promoted to Chief Financial Officer, effective July 1, 2006. Mr. Wenger joined the Company in 2003, serving as Controller, and later that year was promoted to Treasurer and Chief Accounting Officer. He became a member of the Company's senior management team in the fall of 2003." More
- May 25, 2006 | Item | E-mail
Franklin Mining Will Open La Paz, Bolivia Office With Additional Offices in Potosi and Santa Cruz - More
- May 25, 2006 | Item | E-mail
Glamis Gold Ltd. Becomes Signatory to International Cyanide Management Code - "The International Cyanide Management Institute (ICMI) announced today that it had accepted the application of Glamis Gold Ltd. to become a signatory to the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold (Code). The Code is a voluntary industry program for companies involved in the production of gold using cyanide. Glamis Gold Ltd. is a gold mining company with operations in North and Central America, producing annually over 400,000 troy ounces of gold." More
- May 25, 2006 | Item | E-mail
Quinto Raises $1,677,200 - More
- May 25, 2006 | Item | E-mail
FNX Announces Resource Estimate for Podolsky - More
- May 25, 2006 | Item | E-mail
Stellar to start exploration program on Opinaca - More
- May 25, 2006 | Item | E-mail
Global Gold to invest $4.1 mln in Armenia - More
- May 25, 2006 | Item | E-mail
Golden Star Schedules Conference Call and Webcast of Its Annual General and Special Meeting of Shareholders - "Golden Star Resources Ltd. has arranged for its annual general and special meeting of shareholders to be accessible via a conference call and webcast. This will enable those individuals not able to attend the meeting in person to participate or listen to the meeting. The meeting is scheduled for Friday, May 26, 2006 at 1:30 p.m. Eastern Time (11:30 a.m. Mountain Time)." More
- May 25, 2006 | Item | E-mail
Aurelian Mobilizes a Second Drill Rig to the Fruta Del Norte Epithermal Gold-Silver Target - More
- May 25, 2006 | Item | E-mail
Phoenix Matachewan Mines Inc.: Airborne Geophysical Survey Completed, More Ground Acquired at Steel River Property - More
- May 25, 2006 | Item | E-mail
New Gold Inc.: New Afton Cu-Au Project - "We are particularly pleased with these results as they illustrate what we have long maintained, that mineralization remains open at depth. This newly identified mineralization supports our geological model and has yet to be fully defined. We continue to use 3 diamond drills underground, in the task of defining the full extent and geometry of this mineralization, and exploring for additional extensions. In addition, we are currently investigating the potential for a program of deep surface diamond drilling to test for additional extensions of mineralization at depth." More
- May 25, 2006 | Item | E-mail
Vantex Intersects 27.30 Metres at 2.5 G/T Au on Lake Expanse - More
- May 25, 2006 | Item | E-mail
Red Dragon Options Axis Lake Project to Pure Nickel Inc. - More
- May 25, 2006 | Item | E-mail
Full-Scale Exploration Commences on the New Dominion Project - More
- May 25, 2006 | Item | E-mail
Tournigan Begins Drilling at Jahodna Uranium Project - More
- May 25, 2006 | Item | E-mail
Certified Mining Engineer to Conduct Core Assay Project on Company Properties in Venezuela Starting in May - More
- May 25, 2006 | Item | E-mail
Norsemont Expands Corporate Team - More
- May 25, 2006 | Item | E-mail
Galantas Makes Strategic Land Acquisition - More
- May 25, 2006 | Item | E-mail
Cloudbreak Files Technical Report on Ikiztepe-Sarp Property - More
- May 25, 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 25 May, 2006 | |
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