-- Posted 13 December, 2006 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $327.50 | +$0.40 |
Silver | $13.72 | -$0.08 |
XAU | 143.67 | +0.10% |
HUI | 343.84 | -0.07% |
GDM | 1094.51 | +0.02% |
JSE Gold | 2825.77 | +0.24% |
USD | 83.33 | +0.37 |
Euro | 132.06 | -0.64 |
Yen | 85.13 | -0.42 |
Oil | $61.37 | +$0.35 |
10-Year | 4.577% | +0.086 |
T-Bond | 112.96875 | -1.00 |
Dow | 12317.50 | +0.02% |
Nasdaq | 2432.41 | +0.03% |
S&P | 1413.21 | +0.12% |
The Metals:
Gold rose a couple of dollars in after hours Access trade late yesterday and held higher in Asia before it fell back off near unchanged in London and then dropped to as low as $622.80 in midmorning New York trade, but it then rallied over $5 higher in the next 75 minutes of trade, remained near its highs into the close, and ended with a slight gain. Silver dropped to as low as $13.54 before it also rallied into the close, but it still ended slightly lower in New York after having traded mostly higher in Asia and London.
Euro gold rose above €475, platinum lost $2 to $1,108, palladium remained unchanged at $325, and copper fell roughly 5 cents to about $3.02.
Gold and silver equities dropped over 1% at the open, rebounded to find slight gains by late morning, fell back off a bit, and then rallied into the close and ended mixed and near unchanged.
The Economy:
Report | For | Reading | Expected | Previous |
Retail Sales | Nov | 1.0% | 0.2% | -0.1% |
Retail Sales ex-auto | Nov | 1.1% | 0.3% | -0.3% |
Business Inventories | Oct | 0.4% | 0.5% | 0.3% |
Tomorrow at 8:30AM EST brings Import and Export Prices for November and Initial Jobless Claims for 12/09 expected at 320,000, but most are already looking ahead to CPI data on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as inventory reports did not come in as strong as expected, but any gains were limited due to uncertainty about OPEC’s meeting tomorrow.
The U.S. dollar index rose and treasuries fell markedly as Retail Sales surprised to the upside and pushed interest rates higher as hopes for an interest rate cut by the fed anytime soon were diminished.
The Dow, Nasdaq, and S&P opened higher on economic optimism over strong Retail Sales, but they then fell back off near unchanged and ended with just minimal gains as oil rose and interest rates remained near their highs into the close.
Among the big names making news in the market today were AirTran and Midwest Air, United Airlines and Continental, and Home Depot.
The Commentary:
“Gold is finding support from long term buyers of gold, steadily buying as we see the holdings of the gold Exchange Traded funds rise. To us it is clear that any news deemed negative for gold is simply slowing gold's next rise for the consolidation has left a very narrow trading band. We expect volatile action soon. Any good news for gold is putting upward pressure on gold.
Tomorrow's O.P.E.C. meeting could produce cuts in oil production, which will be gold-positive.” - Julian D.W. Phillips, www.goldforecaster.com
“February Gold finished up 0.7 at 632.4, 2.3 off the high and 4.9 up from the low.
March Silver closed down 0.065 at 13.915. This was 0.19 up from the low and 0.065 off the high.
Gold traded mostly sideways in a choppy trade as the market was able to hold above Monday's low despite solid gains in the Dollar. The 1% jump in retail sales did rally the Dollar which may have limited attempts to push gold higher, but the strong reading on consumer retail demand also bodes well for jewelry sales during the holiday shopping season. Gold mostly treaded water on Wednesday as trading is becoming thin as year end approaches. With outside markets in equities and energy also seeing a choppy trade they did not provide much direction for the metals. While the Dollar gained sizable ground, sentiment remains generally negative toward the currency and therefore, it seems gold traders paid little attention to the move. Gold may also have been able to shrug off the stronger Dollar since a survey by Barclays Capital showed investors plan to expand their holdings in commodities including metals by $50 billion over the next several years.
Profit taking pressured silver to just under Monday's low, but the market seemed to reject these price levels and losses were significantly trimmed by the close. The jump in retail sales does suggest an economy that may be stronger than previously thought and that helps to keep sentiment positive in silver. Strong retail sales may also reflect rising silver jewelry demand this holiday season. However, the strong retail sales number does suggest the Fed may delay lowering rates next year which is a limiting factor.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Inflation is four times higher than CPI, U.S. economist says
Canadian gold stock index replaced with a global one
Government appeals order to redesign currency for blind
MorganChase buys protection against SEC actions
Barrick open to acquiring more gold and copper assets
Al Jazeera joins ROB-TV in exposing the gold price suppression scheme
The Statistics:
As of close of business: 12/12/2006
Gold Warehouse Stocks: | 7,491,102 | - |
Silver Warehouse Stocks: | 110,579,783 | - |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 446.15 | 14,344,012 | US$ 8,949m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 90.31 | 2,903,557 | US$ 1,826m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.53 | 338,445 | US$ 213m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 9.88 | 317,662 | US$ 199m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE added 4.63 tonnes.
COMEX Gold Trust (IAU)
Profile as of 12/12/2006 | |
Total Net Assets | $855,682,097 | Ounces of Gold
in Trust | 1,364,906.469 |
Shares Outstanding | 13,750,000 | Tonnes of Gold
in Trust | 42.45 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 12/12/2006 | |
Total Net Assets | $1,532,639,188 | Ounces of Silver
in Trust | 110,677,935 |
Shares Outstanding | 11,100,000 | Tonnes of Silver
in Trust | 3,442.5 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Rio Narcea’s (RNO) inclusion in the S&P/TSX Global Gold Index, Pacific Rim’s (PMU) drill program update and drill results, Royal Gold’s (RGLD) closed transaction, Tanzanian Royalty’s (TRE) drill results, Fronteer’s (FRG) new member on the Board of Directors, Palmarejo’s (PJO.V) power generation agreement, and Arian’s (AGQ.V) acquired mine were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Orezone | OZN+4.96% $1.48 |
2. Fronteer | FRG+3.09% $8.33 |
3. Richmont | RIC +3.02% $2.39 |
LOSERS
1. Pacific Rim | PMU -9.73% $1.02 |
2. U.S. Energy | USEG -6.64% $5.06 |
3. New Gold | NGD -5.73% $7.41 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.
All of today's gold and silver stock news:
El Capitan Adds Experienced Leadership to the Board - More
- December 13, 2006 | Item | E-mail
Alma Resources Welcomes Art Soregaroli to the Advisory Board - More
- December 13, 2006 | Item | E-mail
Rio Narcea Included in the S&P/TSX Global Gold Index - "Rio Narcea Gold Mines, Ltd. ("Rio Narcea" or "the Company") (TSX:RNG.TO - News)(AMEX:RNO - News) today announced that the Company has been added to the S&P/TSX Global Gold Index, effective Monday, December 18, 2006. The S&P/TSX Global Gold Index is designed to provide an investable index of global gold securities. Recently, the index name has been changed from the S&P/TSX Capped Gold Index to reflect its methodology and expanded coverage, allowing for the inclusion of non-Canadian securities." More
- December 13, 2006 | Item | E-mail
Crescent Closes Non-Brokered Private Placement - More
- December 13, 2006 | Item | E-mail
Pacific Rim Mining Corp.: Santa Rita Drill Program Update - "Pacific Rim Mining Corp. ("Pacific Rim" or "the Company") (TSX:PMU.TO - News)(AMEX:PMU - News) has elected to temporarily suspend its drill program at the Santa Rita gold project in El Salvador in order to constructively manage localized protests related to the Company's activities at Santa Rita." More
- December 13, 2006 | Item | E-mail
C2C Inc. Begins Exploration Program-Opinaca, Quebec - More
- December 13, 2006 | Item | E-mail
Global Minerals Ltd.: Geophysics Complete; Drill Program Begins - More
- December 13, 2006 | Item | E-mail
DIOS: Pivate Placement - More
- December 13, 2006 | Item | E-mail
Etruscan's Agbaou Gold Deposit advances to feasibility - More
- December 13, 2006 | Item | E-mail
Nevada Star Resource Corp.: Sale of Gold Hill Royalty for US $3.3 Million Closed - More
- December 13, 2006 | Item | E-mail
Gold Summit Reports Plus One Ounce Gold in Rock Samples at Saluda, South Carolina - More
- December 13, 2006 | Item | E-mail
Taseko to Release Fiscal 2006 Year End Results on December 18, 2006 - "Taseko Mines Limited ("Taseko" or the "Company") (TSX:TKO.TO - News)(AMEX:TGB - News), a mining exploration, development and production company, will release its fourth quarter and annual earnings results on Monday, December 18, 2006 after market close and will host a conference call on Tuesday, December 19, 2006 at 11:00 AM Eastern Time (8:00 AM Pacific Time) to discuss these results." More
- December 13, 2006 | Item | E-mail
Asia Gold Discovers a New Zone of Mineralization on the Kaputusan Porphyry Copper-Gold Prospect Bacan Island, Maluku, Indonesia - More
- December 13, 2006 | Item | E-mail
Tribute Intersects More High Grade Zinc at Arrow Zone - More
- December 13, 2006 | Item | E-mail
Royal Gold Closes Gold Hill Royalty Transaction - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News) today announced that is has closed its acquisition with Nevada Star Resource Corp. to acquire a sliding-scale net smelter return royalty on the Gold Hill deposit for $3.3 million as previously announced on October 26, 2006. The Gold Hill deposit, located just north of the Round Mountain gold mine in Nye County, Nevada, is controlled by Round Mountain Gold Corporation, a joint venture between Kinross Gold, the operator, and Barrick Gold Corporation." More
- December 13, 2006 | Item | E-mail
Tanzanian Royalty Reports New High Grade Gold Discovery in Tulawaka Area - "Rotary Air Blast (RAB) drilling in the Mnezeki area returned one of the highest grade gold intercepts reported from the region in recent years: 30.08 g/t gold (0.88 oz/ton) over 6.0 metres (19.7 ft) from 41 to 47 metres (134.5 - 154.2 ft.) down hole. The fact a RAB drill rig was utilized for this phase of drilling precludes the accurate determination of true width and orientation of the mineralized intersections." More
- December 13, 2006 | Item | E-mail
San Gold Adds Significant Mineral Resources at Cartwright - More
- December 13, 2006 | Item | E-mail
Mesa Uranium Corp.: Exploration Program Update - More
- December 13, 2006 | Item | E-mail
Cameco receives upgrade on higher uranium prices - More
- December 13, 2006 | Item | E-mail
Eagle Plains Stakes Additional Uranium Properties - More
- December 13, 2006 | Item | E-mail
Palmarejo Silver and Gold Corporation Announces the Signing of a Power Generation Agreement with Caterpillar - "Palmarejo Silver and Gold Corporation (TSX VENTURE:PJO.V - News) is pleased to announce that Planet Gold SA de CV ("Planet Gold"), its 100% owned Mexican subsidiary, has reached an agreement with Caterpillar Arrendadora Financiera, SA de CV ("Caterpillar"), a Mexican subsidiary of the Caterpillar Group, which provides for the supply, installation and lease financing of diesel generators and high voltage equipment having the capacity to provide the full power requirements for the Palmarejo Project processing facility which is currently under construction, on a turn-key basis." More
- December 13, 2006 | Item | E-mail
Arian Acquires San José Mine - "Arian Silver Corporation ("Arian" or the "Company")(TSX VENTURE:AGQ - News; AIM:AGQ) (FWB:I3A) ("PLUS":AGQ) announces today that it has acquired an exclusive option over 100% of the San Jose silver-base metal property (the "San Jose Property" or the "Property") in Zacatecas State, Mexico, from Minera Servicios Mineros San Gerardo ("Minera San Gerado"), S.A. de C.V. The Property lies some 55 kilometres (km) to the southeast of Zacatecas, within the silver-rich Ojocaliente mining district." More
- December 13, 2006 | Item | E-mail
Underground Drilling Continues to Expand Natividad Gold-Silver Prospect - More
- December 13, 2006 | Item | E-mail
Cameco Announces Change in Executive Team - More
- December 13, 2006 | Item | E-mail
AmMex Gold Begins Drill Program at their Bailey Hills Project on the Carlin Trend, Nevada - More
- December 13, 2006 | Item | E-mail
Mr. Jo Mark Zurel Joins Fronteer Board of Directors - More
- December 13, 2006 | Item | E-mail
Gold Canyon Announces Expansion of High Grade Gallium Mineralization At the Cordero Gallium Project - More
- December 13, 2006 | Item | E-mail
Tagish Corporate Progress Report - More
- December 13, 2006 | Item | E-mail
American Bonanza Drills High Grade Gold at Northshore - More
- December 13, 2006 | Item | E-mail
Mr. Jo Mark Zurel Joins Fronteer Board of Directors - "We are delighted to have Mr. Zurel join the Board of Directors," says Oliver Lennox-King, Chairman of Fronteer. "His experience with strategic planning, financial management and corporate governance will be well received as Fronteer continues to grow. We look forward to working with him." More
- December 13, 2006 | Item | E-mail
Trigon Exploration Canada Ltd. changes its name to Trigon Uranium Corp. - More
- December 13, 2006 | Item | E-mail
MDN Northern Mining : New Gold Discovery at Mnezeki-Tanzania - More
- December 13, 2006 | Item | E-mail
MPH Ventures Corp. Announces Allen Cole Appointed Vice President of Exploration - More
- December 13, 2006 | Item | E-mail
Puma Exploration Inc.: Gold Structure at 310 Metre Depth on Nicholas-Denys Property - More
- December 13, 2006 | Item | E-mail
Crew Gold Corporation Announces Crew Minerals ASA Accepts Subscriptions for Public Offering - More
- December 13, 2006 | Item | E-mail
Sierra Gold Corporation Valuation of Gold Property Translates to $7.42 per Share - More
- December 13, 2006 | Item | E-mail
Crew Gold Corporation Announces Hot Commissioning to Start at Lefa - More
- December 13, 2006 | Item | E-mail
Thistle announces conclusion of a black economic empowerment transaction in respect of President Steyn and provides an updated forecast - More
- December 13, 2006 | Item | E-mail
Celtic Minerals grants options - More
- December 13, 2006 | Item | E-mail
Mawson stakes Vena copper-cobalt historic mining field - More
- December 13, 2006 | Item | E-mail
Pacific Rim Mining Corp.: Balsamo Discovery Continues to Yield Bonanza Gold Grades; Drill Permit Granted for South El Dorado Claim - "Exploration drilling at Pacific Rim Mining Corp.'s ("Pacific Rim" or "the Company") (TSX:PMU.TO - News)(AMEX:PMU - News) El Dorado gold project in El Salvador has yielded additional bonanza gold grades in the newly discovered Balsamo gold zone, where drill hole P06-494 intersected 25.7 g/t gold and 248 g/t silver over 5.6 meters true width and hole P06-502 intersected 30.9 g/t gold over 1.45 meters true width. A complete list of the most recent drill results is provided below." More
- December 13, 2006 | Item | E-mail
Stealth Minerals Limited: Large-Scale Drill Target Defined Sofia Copper-Gold Porphyry Prospect - More
- December 13, 2006 | Item | E-mail
Intrepid Announces Covenant Waiver Received & Updates December Quarter Production Targets - More
- December 13, 2006 | Item | E-mail
Unico, Inc. Announces Expanded Agreement With BNA Consulting to Expedite Completion of Substation to Supply Power for the Mill and Processing Facility at the De - More
- December 13, 2006 | Item | E-mail
GBS Gold International Inc.: Updated Resource Estimate-Fountain Head Deposit - More
- December 13, 2006 | Item | E-mail
Scorpio Announces Corporate Changes - More
- December 13, 2006 | Item | E-mail
Medusa Mining Limited: Positive Outcome On Co-O Mine MPSA Application - More
- December 13, 2006 | Item | E-mail
Federal Court of Australia Approves Golden China-Michelago Business Combination; TSX approves Conditional Listing - More
- December 13, 2006 | Item | E-mail
Drilling Intersects Up to 44% Zinc at Mountain Lake's Bobby's Pond Deposit - More
- December 13, 2006 | Item | E-mail
Majescor Starts Core Drilling Program at its Besakoa Gold-Silver-Copper-Zinc Prospect in Madagascar - More
- December 13, 2006 | Item | E-mail
Keegan Resources Inc.: Esaase Drill Program Confirms Gold Mineralization Over 1 km Strike Length - More
- December 13, 2006 | Item | E-mail
Romarco Schedules Drilling at Pinos Gold District, Mexico - More
- December 13, 2006 | Item | E-mail
Vault intersects more gold at Lebel - More
- December 13, 2006 | Item | E-mail
NI 43-101 mineral resources estimate for the Explo-Zinc deposit in Joutel, Quebec - More
- December 13, 2006 | Item | E-mail
Kalimantan Gold AIM listing supports world class potential at Kalimantan Gold - More
- December 13, 2006 | Item | E-mail
Melkior Explores 4 Properties and Updates - More
- December 13, 2006 | Item | E-mail
Western Goldfields Announces Positive Initial Results from Drilling Program at Mesquite Mine - More
- December 13, 2006 | Item | E-mail
Jinshan Granted Four New Exploration Permits Along Tianshan Mineral Belt, China - More
- December 13, 2006 | Item | E-mail
Tornado Gold Reports Geophysical Study Results - More
- December 13, 2006 | Item | E-mail
Forum Uranium Corp.: Drilling on Key Lake Road Project Finds Multiple Zones of Uranium - More
- December 13, 2006 | Item | E-mail
Magnum Signs LOI to Acquire Property in the Marysvale Uranium District, Utah - More
- December 13, 2006 | Item | E-mail
De Beira Goldfields Inc.: Titiribi Resource Estimate - More
- December 13, 2006 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 13 December, 2006 | |
