-- Posted 14 December, 2006 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $626.10 | -$1.40 |
Silver | $13.79 | +$0.07 |
XAU | 144.81 | +0.79% |
HUI | 344.35 | +0.15% |
GDM | 1099.79 | +0.48% |
JSE Gold | 2836.60 | +0.38% |
USD | 83.68 | +0.35 |
Euro | 131.58 | -0.48 |
Yen | 84.94 | -0.19 |
Oil | $62.51 | +$1.14 |
10-Year | 4.595% | +0.018 |
T-Bond | 112.71875 | -0.25 |
Dow | 12416.76 | +0.81% |
Nasdaq | 2453.85 | +0.88% |
S&P | 1425.49 | +0.87% |
The Metals:
Gold traded on either side of unchanged in a tight range in Asia and London before it dipped near $625 in midmorning New York trade, rebounded to find slight gains above $628 in late morning trade, fell back off into the close, and ended with a 0.22% loss. Silver traded between $13.70 and $13.90 throughout world trade before it ended at about the middle of that range with a gain of 0.51%.
Euro gold remained above €475, platinum gained $2 to $1,110, palladium remained unchanged at $325, and copper gained about 6 cents to $3.08.
Gold and silver equities traded mixed and near unchanged in the first hour of trade before they rose to trade slightly higher for the rest of trade and ended with about 0.5% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Export Prices | Nov | 0.4% | - | -0.3% |
Export Prices ex-ag. | Nov | 0.1% | - | -0.5% |
Import Prices | Nov | 0.2% | 0.1% | -2.3% |
Import Prices ex-oil | Nov | 0.7% | - | -0.5% |
Initial Claims | 12/09 | 304K | 320K | 324K |
NY Empire State Index | Nov | 23.1 | 18.0 | 26.7 |
The NY Empire State Index came out early as it was expected to come out at 8:30AM EST tomorrow and not 3PM today, but its impact was muted ahead of tomorrow’s CPI data that is due out at 8:30AM EST. Both CPI and Core CPI for November are expected at 0.2%. At 9AM are Net Foreign Purchases for October expected at $69.5 billion at and 9:15 are Capacity Utilization for November expected at 82.1% and Industrial Production expected at 0.0%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as OPEC announced it will take another 500,000 barrels per day off of the market beginning February 1st, 2007. This announcement comes in objection to pleas from the U.S. Energy Department not to cut production as weekly inventories have been dropping recently.
The U.S. dollar index rose and treasuries fell as economic data came in better than expected and pushed interest rates higher.
The Dow, Nasdaq, and S&P rose nearly 1% on strong earnings from investment firms. Despite higher interest rates and oil up nearly 2% on the day, the Dow climbed to new record highs and the S&P climbed to a new 6 year high.
Among the big names making news in the market today were Honeywell, P&G, Nestle and Novartis, Lehman, Bear Sterns, and Costco.
The Commentary:
“What galls me is that I have spent a good deal of time and effort over 8 years going to the US financial market media to bring attention to GATA’s findings … including 3 meetings with 3 different Wall Street reporters in 3 different cities; contact with Nell Henderson, business editor of the Washington Post; Forbes; Barron’s; and the New York Times. None of them will give GATA the time of day and even mention we exist (except for a few disparaging comments by the Wall Street Journal’s Peter McKay).
We are supposed to be THE free country with THE free press. Yet GATA, exposing how our gold market (and even our other financial markets) is anything but free, receives exposure from the Russians and Al-Jazeera (as well as the Germans), but not our own press. Something is VERY wrong here and we know it. Before GATA even existed, the Café was set up to get to the truth on various matters and be a forum for such. The doofus Duffs of the world leave me almost speechless. He is against those who allow the truth to be told, and for those who do not.” - From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com
“February Gold finished down 1.5 at 630.9, 2.5 off the high and 1.7 up from the low.
March Silver closed up 0.035 at 13.95. This was 0.07 up from the low and 0.08 off the high.
Initially it seemed like the gold market was simply going to stand up to the sharp upward extension in the Dollar but as the session progressed the strength of the Dollar seemed to undermine sentiment. The market mostly discounted the typically beneficial combination of rising oil and rising equity prices, perhaps because of the Dollar breakout. Apparently the market wasn't that interested in news that Peru's September gold output declined by 9.5% versus the prior year because the market didn't seem to attract any buyers in the wake of that development.
Like the gold market, the silver market was confronted with somewhat negative production news from Peru which managed to post a 5.6% increase in production from the prior year. However, the silver market seemed to spend significantly more time in positive ground than the gold market and perhaps that is the result of an improving macro economic condition. With the US claims and ongoing claims declining by more than expected and doing so in the wake of the better than expected US retail sales readings on Wednesday, it is possible that silver, platinum and copper markets were simply benefiting as physical commodities. It is also likely that a round of new highs in the stock market served to lift silver as it puts all investors in a better mood.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
GATA's international press release to publicize Blanchard report on gold lending
U.S. mortgage delinquency rate rises sharply
No inflation? U.S. Mint would ban melting pennies, nickels
Secrecy of central bank gold lending condemned in new study
Jeffrey Saut: Our unnatural makets and the mysterious buyers from Mars
The Statistics:
As of close of business: 12/13/2006
Gold Warehouse Stocks: | 7,491,102 | - |
Silver Warehouse Stocks: | 109,997,630 | - 582,153 |
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 | 448.92 | 14,433,279 | US$ 9,005m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 90.31 | 2,903,525 | US$ 1,817m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.53 | 338,441 | US$ 212m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 9.88 | 317,659 | US$ 198m |
Note: Change in Total Tonnes from yesterday’s data: 2.77 tonnes were added to the trust.
COMEX Gold Trust (IAU)
Profile as of 12/13/2006 | |
Total Net Assets | $856,901,135 | 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 12/13/2006 | |
Total Net Assets | $1,526,530,907 | 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:
Agnico-Eagle’s (AEM) dividend and guidance, NovaGold’s (NG) drill results, Pacific Rim’s (PMU) clarification of their drill program, Exeter’s (XRA) drilling, Meridian’s (MDG) drill program, Banro’s (BAA) drill results, Kirkland Gold’s (KGI.TO) award and drilling, Yale’s (YLL.V) and IMPACT’s (IPT.V) new property, Sabina’s (SBB.V) drill results, and SilverCrest’s (SVL.V) test results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Pacific Rim | PMU +5.88% $1.08 |
2. Lihir Gold | LIHR +4.53% $24.93 |
3. Richmont | RIC +4.18% $2.49 |
LOSERS
1. Exeter | XRA -7.48% $2.35 |
2. Eldorado Gold | EGO -4.17% $5.29 |
3. Arizona Star | AZS -2.44% $12.39 |
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:
Agnico-Eagle quadruples annual cash dividend; Provides 2007 production and cost guidance - "Agnico-Eagle Mines Limited is pleased to announce today that its Board has approved the payment of a dividend of $0.12 per common share, quadruple the previous annual rate. Agnico-Eagle has now declared a dividend to its shareholders for 27 consecutive years. The dividend will be paid on January 29, 2007 to shareholders of record as of January 15, 2007." More
- December 14, 2006 | Item | E-mail
Skygold Ventures Ltd.: Drilling Intersects 50.5 m of 1.98 g/t Gold; Geophysics Outlines New Targets - More
- December 14, 2006 | Item | E-mail
Golden Odyssey Mining Reports Significant Drill Results on Mexican Hill, Carlin Trend, Nevada - More
- December 14, 2006 | Item | E-mail
Jinshan Closes C$30 Million Note Offering - More
- December 14, 2006 | Item | E-mail
Manicouagan announces encouraging assay results from ongoing drilling at its Brabant Lake zinc deposit - More
- December 14, 2006 | Item | E-mail
Argentine province halts mining on pollution fears - "Lawmakers in an Argentine province famous for its wine and ski resorts have suspended all open-pit mining due to strong environmental opposition, deputies and industry sources said on Thursday." More
- December 14, 2006 | Item | E-mail
Sierra Gold Corporation Discovers Diamonds On Pampana North Property - More
- December 14, 2006 | Item | E-mail
Norsemont Nears Successful Completion of 2006 Drill Campaign at Constancia Porphyry Copper Deposit, Cusco Province, Peru - More
- December 14, 2006 | Item | E-mail
Acrex Plans 2007 Winter Drill Program for Timmins Gold Property, Ontario - More
- December 14, 2006 | Item | E-mail
Yukon Resources Corp.: Sagar Property Assay Results Return Multiple Values Greater Than 1% Uranium, and Greater Than 30.0 Grams Gold - More
- December 14, 2006 | Item | E-mail
Yale and Partner IMPACT Silver Add New Property to the Zacatecas Venture -- Field Work Started - "Yale's partner for the Zacatecas Venture, IMPACT Silver Corp. (TSX VENTURE:IPT.V - News), has purchased a 100% interest in the Zacatecas concession, which is contiguous with the Salvador concession. The concession covers part of a vein system parallel to the Salvador vein system that extends onto the neighbouring Salvador concession. A preliminary investigation of the concession has identified twin shafts that are at least 40 m deep. Beside the shafts is a mine dump that is estimated to be at least 2,000 tonnes in size." More
- December 14, 2006 | Item | E-mail
Great Western Minerals Group Ltd.: Copper Hill Project-Exploration Results - More
- December 14, 2006 | Item | E-mail
Anooraq to Begin Trading on the JSE - More
- December 14, 2006 | Item | E-mail
Mexivada Drilling Update: Yécora Project Mexico - More
- December 14, 2006 | Item | E-mail
Adanac Molybdenum Corporation: New Moly Zone Encountered South of Open Pit - More
- December 14, 2006 | Item | E-mail
Golden Eagle's Pilot Operations Confirming Dimensions of Mineralization on Its C Zone Gold Anomaly in Bolivia - More
- December 14, 2006 | Item | E-mail
Murgor signs agreement with Metanor to sell the Barry gold deposit, North Western Quebec - More
- December 14, 2006 | Item | E-mail
Jasper Mining Corporation - Management Discussion on results of 2006 exploration program on Isintok Property - More
- December 14, 2006 | Item | E-mail
Rocmec Pours a First Dore Bar From its Rocmec 1 Gold Property - More
- December 14, 2006 | Item | E-mail
Murgor provides an update of its north western Quebec properties with a new gold discovery at Nelligan and an update at Windfall - More
- December 14, 2006 | Item | E-mail
Sparton Signs Agreement to Evaluate and Acquire Interests in Five Producing Gold Operations in Inner Mongolia China - More
- December 14, 2006 | Item | E-mail
Freewest Provides an Update on its Windfall Property, Northwestern Quebec - More
- December 14, 2006 | Item | E-mail
Drilling Extends Mineralized Zone to 3.2 km at San Miguel Project, Mexico - More
- December 14, 2006 | Item | E-mail
United Bolero Development Corp.: Bald Butte Has an Inferred Resource Containing 250 Million Pounds of Molybdenum Sulphide - More
- December 14, 2006 | Item | E-mail
Golden Odyssey Mining Reports Significant Drill Results on Mexican Hill, Carlin Trend, Nevada - More
- December 14, 2006 | Item | E-mail
Douglas Lake Minerals Strikes Visible Gold in High Grade Vein Structures in Morogoro Drill Program - More
- December 14, 2006 | Item | E-mail
Sierra Gold Corporation to Order NOBO List - More
- December 14, 2006 | Item | E-mail
Patricia Mining Corp. Increases Confidence Level In Island Gold Resource - More
- December 14, 2006 | Item | E-mail
Copper Ridge intersects copper-gold mineralization in Lucky Joe drilling - More
- December 14, 2006 | Item | E-mail
Métanor signs agreement to acquire Murgor's Barry open pit gold deposit - More
- December 14, 2006 | Item | E-mail
Alberta Star Makes Second New Poly-Metallic IOCG Copper, Gold, Silver, Cobalt Discovery at the K2 Target Area at Contact Lake - More
- December 14, 2006 | Item | E-mail
Newmont - Rare Element Resources Gold-Exploration Venture Reports Significant Gold Values from Bear Lodge Trench Assays - More
- December 14, 2006 | Item | E-mail
SLAM Exploration drilling Nepisiguit deposit - More
- December 14, 2006 | Item | E-mail
Gold Canyon Closes Second Tranche of Private Placement for US$440,000 - More
- December 14, 2006 | Item | E-mail
Piedmont Mining Company Commences Trading On OTC Bulletin Board - More
- December 14, 2006 | Item | E-mail
Sabina and Teuton Drilling at Del Norte Hits High Grade Silver and a New Zone With Broad Widths of Gold Mineralization at "3 Oz Vein" - More
- December 14, 2006 | Item | E-mail
Reno Gold Corp. Announces Joint Venture With Consolidated Global Minerals Ltd. and Dynamic Resources Corp. - More
- December 14, 2006 | Item | E-mail
Exeter Resumes Drilling on Cerro Moro Gold-Silver Discovery - More
- December 14, 2006 | Item | E-mail
Amarc Acquires Potential Copper District in British Columbia - More
- December 14, 2006 | Item | E-mail
Battle Mountain to Purchase Additional 2 Percent Net Smelter Royalty On Minefinders' Dolores Mine - More
- December 14, 2006 | Item | E-mail
Results From Geophysical, Geochemical and Diamond Drilling in the Kit Carson Epithermal Gold-Silver Target Area - More
- December 14, 2006 | Item | E-mail
Franklin Mining, Inc. Is in Final Stages of Completing 15C211 - More
- December 14, 2006 | Item | E-mail
Golden China Completes Business Combination with Michelago - More
- December 14, 2006 | Item | E-mail
Dia Bras: Significant Bolivar Results/Highly-Faulted Zone at El Val Yields High Copper Values - More
- December 14, 2006 | Item | E-mail
Cline Mining-Strike Minerals Gold Joint Venture - More
- December 14, 2006 | Item | E-mail
Longview Capital Partners Creates Global Resource House With World-Class Technical Group - More
- December 14, 2006 | Item | E-mail
Tim Mann Joins Largo's Management Team as Vice President, Engineering - More
- December 14, 2006 | Item | E-mail
Hathor Commences 3-D Seismic Survey at its Midwest NE Project in the Athabasca Basin - More
- December 14, 2006 | Item | E-mail
Northwestern discovers five radioactive structures during ground exploration on uranium properties in Niger - More
- December 14, 2006 | Item | E-mail
Ur-Energy Inc. Announces Completion of $2,500,000 Flow-through Private Placement Financing at $5.00 Per Share - More
- December 14, 2006 | Item | E-mail
Uranium Anomaly on DIOS' Hotish Project - More
- December 14, 2006 | Item | E-mail
Astral Reports 7 Metres of 31.19 g/t (0.91 oz/t) Gold From Jumping Josephine - More
- December 14, 2006 | Item | E-mail
Golden Hope Mines Converts Debt to Common Shares - More
- December 14, 2006 | Item | E-mail
Erdene's Drill Program Confirms Copper Oxide and Sulfide Mineralization Extends onto its Property at Erdenet - More
- December 14, 2006 | Item | E-mail
Paramount Gold Extends Zone 800 Meters with 213 g/t Silver across 13.8 Meters and 133.4 g/t Silver across 44.85 Meters at Their San Miguel Project, Mexico - More
- December 14, 2006 | Item | E-mail
Kingsman Resources Inc. Commences Drilling at Snowshoe Property - More
- December 14, 2006 | Item | E-mail
Cambridge Mineral Resources plc: Appointment of Chairman - More
- December 14, 2006 | Item | E-mail
TTM Resources Inc. Announces Commencement of Up to 3000 Meters of Diamond Drilling on Its Chu Molybdenite Property - More
- December 14, 2006 | Item | E-mail
NovaGold's 2006 Galore Creek Drill Campaign Completed, Expands Deposits - "NovaGold Resources Inc. (TSX:NG.TO - News)(AMEX:NG - News) today reported highlights from the final drill results for the 2006 resource expansion and exploration drilling program at Galore Creek. Drill results from 2006 continue to expand mineralization laterally from the Central deposit. Additional mineralization was encountered down dip from the West Fork ore body. The program drilled over 36,208 meters in 67 holes and focused on completing final assessment of the Grace tailings disposal site and continued expansion and delineation of the Central and West Fork deposits." More
- December 14, 2006 | Item | E-mail
Forsys Discovers New High Grade Uranium Zone - More
- December 14, 2006 | Item | E-mail
Pitchstone Exploration Ltd.: Athabasca Exploration Update - More
- December 14, 2006 | Item | E-mail
Pan African Mining Corp. Commences Shallow Core Drilling Program for Uranium in Madagascar - More
- December 14, 2006 | Item | E-mail
Pacific Rim Mining Clarifies Recent News on Santa Rita and El Dorado Drill Programs - "Pacific Rim Mining Corp. ("Pacific Rim" or "the Company")(TSX:PMU.TO - News)(AMEX:PMU - News) wishes to provide shareholders with clarification of its news release of December 13, 2006 (#06-24). The Company assures shareholders that yesterday's press release pertains only to the Santa Rita project and has no impact on its flagship El Dorado gold project where the Company's drilling and development programs, ongoing for the past 4 1/2 years, remain in progress and poised for further success." More
- December 14, 2006 | Item | E-mail
Exeter Resumes Drilling on Cerro Moro Gold-Silver Discovery - "Exeter Resource Corporation (TSX VENTURE:XRC.V - News)(AMEX:XRA - News)(FWB: EXB) reports that drilling has resumed on the Cerro Moro high grade gold-silver discovery announced August 1, 2006. A minimum program of +1,000 metres of diamond drilling is scheduled." More
- December 14, 2006 | Item | E-mail
Sabina and Teuton Drilling at Del Norte Hits High Grade Silver and a New Zone With Broad Widths of Gold Mineralization at "3 Oz Vein" - "SABINA SILVER CORPORATION (TSX VENTURE:SBB.V - News) is pleased to announce results from a total of 3,060 m (10,038 ft) of recent drilling on the Del Norte project in the Stewart-Eskay Creek Mining District, British Columbia, Canada." More
- December 14, 2006 | Item | E-mail
SilverCrest Reports Positive Column Leach Test Results For El Zapote Project, El Salvador - "SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL - News; FWB:CW5) is pleased to report on the column-percolation test work that has been completed with respect to the Company's 100% owned El Zapote Project in El Salvador. The metallurgical testing is a continuation of feasibility related work designed to optimize process parameters and to permit comparison of a heap leach operation and a conventional mill facility. The heap leach alternative is being considered as a way to reduce capital and operating costs and shorten the time required to achieve initial production." More
- December 14, 2006 | Item | E-mail
Update on Meridian Gold's 2006 Drilling Program at the Mercedes Project - "Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX: MNG - News; NYSE: MDG - News) and its wholly owned subsidiary, Minera Meridian Minerales, S. DE R.L. de C.V., is pleased to provide new drill results, consistent with the previous encouraging results from its 100%-owned Mercedes Project in Sonora, Mexico, located near Magdalena." More
- December 14, 2006 | Item | E-mail
Banro continues drilling wide zones of gold mineralization and intersects new zone at Twangiza - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce further results from the Company's current core drilling program at its wholly-owned Twangiza project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC")." More
- December 14, 2006 | Item | E-mail
KL Gold Exploration Team Win Ontario Prospector of the Year Award; Additional Drilling to the South Returns 1.99 Ounces of Gold Over 25 Feet - "Kirkland Lake Gold Inc. (the "Company") (TSX:KGI - News; AIM:KGI) is pleased to announce that the Prospector of the Year award for 2006 has been awarded to Mike Sutton and Stewart Carmichael, the Company's exploration leaders, by the Ontario Prospectors Association. This award recognizes the most significant new discovery made in the province of Ontario." More
- December 14, 2006 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 14 December, 2006 | |
