-- Posted 29 December, 2006 | | Source: SilverSeek.com
Note: U.S. and Canadian stock markets will be closed on Monday in observance of New Year's Day. U.S. markets will remain closed on Tuesday in remembrance of Gerald R. Ford.
| Close | Gain/Loss | On Week |
Gold | $636.00 | +$1.80 | +2.65% |
Silver | $12.85 | +$0.03 | +2.55% |
XAU | 142.25 | -0.61% | +2.71% |
HUI | 338.24 | -0.48% | +3.12% |
GDM | 1084.07 | -0.46% | +2.84% |
JSE Gold | 2937.86 | -0.84% | +3.23% |
USD | 83.67 | -0.15 | -0.16% |
Euro | 131.92 | +0.31 | +0.57% |
Yen | 83.99 | -0.17 | -0.10% |
Oil | $61.05 | +$0.52 | -2.18% |
10-Year | 4.710% | +0.020 | +1.86% |
Bond | 111.4375 | -0.09375 | -0.67% |
Dow | 12463.15 | -0.31% | +0.97% |
Nasdaq | 2415.29 | -0.42% | +0.59% |
S&P | 1418.30 | -0.45% | +0.53% |
The Metals:
Gold fell a couple of dollars in Asia but rebounded to near unchanged by the open in London which took the price slightly higher on the day. It then fell back off a bit in early New York trade and remained near unchanged for most of the rest of trade before it rose in the last hour of trade and ended at its high of the day with a gain of 0.28%. Silver traded mostly slightly higher in Asia and London before it fell a bit in morning New York trade, but it also rallied higher in afternoon trade and ended back near its highs with a gain of 0.23%. Both gold and silver found gains for the fifth straight session to end the year with gains of 23% and 45%.
Euro gold remained above €480, platinum gained $21 to $1,133, palladium gained $9 to $332, and copper fell roughly 4 cents to about $2.84. For the year, platinum is up 17%, palladium is up 32%, and copper is up 41%.
Gold and silver equities fell over 1% in morning trade before they rebounded a bit in afternoon trade, but they still ended with about 0.5% losses.
The Economy:
Report | For | Reading | Expected | Previous |
New Home Sales | Nov | 30 | 30 | 30 |
All of this week’s economic reports:
Next week’s economic highlights include the ISM Index on Tuesday, Construction Spending and FOMC minutes on Wednesday, Initial Jobless Claims, Factory Orders, and ISM Services on Thursday, and December’s jobs data on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose ahead of the long weekend on geopolitical fears surrounding the reportedly imminent execution of Saddam Hussein.
The U.S. dollar index traded slightly lower as stronger-than-expected money supply data in Europe reinforced the view that the ECB will continue to raise interest rates.
Treasuries fell a bit in further reaction to Thursday’s strong economic data and on expectations for more economic improvement in 2007.
The Dow, Nasdaq, and S&P rose slightly at the open, but all three indices steadily sold off from there and ended modestly lower on end of the year profit taking.
Among the big names making news in the market Friday were Chrysler, Goodyear, Exxon, AT&T, Sunstone, Huntsman, Power Corp. and Putnam, Apple, and Delta.
The Commentary:
“February Gold finished up 1.1 at 638, 0.3 off the high and 2.3 up from the low.
March Silver closed down 0.005 at 12.935. This was 0.075 up from the low and 0.075 off the high.
Gold spent the day in the upper end of yesterday's trading range in a quiet session focused on year-end positioning. The slightly weaker dollar and a late turnaround in energy prices did little to support the market, but then again gold has been trading more on political uncertainty and expectations for fund interest in the New Year than it has off of anything else. Electronic trade in CBOT metals will open normally at 6:15 PM on Monday and close early at 8:15 on Tuesday in observance of the National Day of Mourning for President Ford; open auction (pit trading) will be closed.
March silver traded up near the week's highs today but still struggled to break out and hold above 13.00. This marked the third day of consolidation. With the holiday shortened trading session and resulting light trading volume, it was not surprising to see the market fail to make any dramatic moves. Going into year's end, the trade has been focused on the possibility that fund traders could shift their interest to silver in early 2007. Electronic trade in CBOT metals will open normally at 6:15 PM on Monday and close early at 8:15 on Tuesday in observance of the National Day of Mourning for President Ford; open auction (pit trading) will be closed.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
GATA reception at conclusion of Vancouver conference
Will Gulf countries follow UAE in dollar drop?
Will the history of fiat money repeat itself?
The Statistics:
As of close of business: 12/28/2006
Gold Warehouse Stocks: | 7,534,516 | - |
Silver Warehouse Stocks: | 111,073,757 | - |
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 | 453.24 | 14,572,124 | US$ 9,207m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 90.29 | 2,903,043 | US$ 1,844m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.53 | 338,385 | US$ 215m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,503 | US$ 208m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE added 1.23 tonnes, the LSE subtracted 0.01 tonnes, and the JSE added 0.25 tonnes.
COMEX Gold Trust (IAU)
Profile as of 12/28/2006 | |
Total Net Assets | $906,126,297 | Ounces of Gold
in Trust | 1,429,417.361 |
Shares Outstanding | 14,400,000 | Tonnes of Gold
in Trust | 44.46 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 12/28/2006 | |
Total Net Assets | $1,554,915,403 | Ounces of Silver
in Trust | 121,144,585.200 |
Shares Outstanding | 12,150,000 | Tonnes of Silver
in Trust | 3,768.02 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Royal Gold’s (RGLD) acquired Penasquito Royalty and Arian Silver’s (AGQ.V) AGM statement were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Cumberland | CLG +5.62% $5.64 |
2. Minefinders | MFN+2.53% $8.90 |
3. New Gold | NGD+2.15% $7.61 |
LOSERS
1. Nevsun | NSU-3.13% $2.17 |
2. Almaden | AAU-3.02% $2.25 |
3. Exeter | XRA -2.93% $1.78 |
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:
Aquila Announces Change to Board of Directors - More
- December 29, 2006 | Item | E-mail
Laurion Mineral Exploration Inc. Appoints Cavalcanti Hume Funfer Inc. as Investor Relations Adviser; Issuance of Options to Directors; and Update on Exploration - More
- December 29, 2006 | Item | E-mail
Avalon closes $1,575,000 private placement - More
- December 29, 2006 | Item | E-mail
Roxmark completes flow-through financing - More
- December 29, 2006 | Item | E-mail
YSV Ventures Inc. Completes $140,876 Private Placement - More
- December 29, 2006 | Item | E-mail
International Wayside Gold Mines Ltd.: Brokered US$10,000,000 Senior Secured Debt Financing - More
- December 29, 2006 | Item | E-mail
Nevada Star Announces CDN $8 Million Brokered Private Placement - More
- December 29, 2006 | Item | E-mail
Vior Completes $880,000 Non-Brokered Private Placements - More
- December 29, 2006 | Item | E-mail
Gold Canyon Resources Inc. Announces Grant of Incentive Stock Options - More
- December 29, 2006 | Item | E-mail
Mengold Retains Investor Relations Consultant - More
- December 29, 2006 | Item | E-mail
UrAsia interim financial results - More
- December 29, 2006 | Item | E-mail
Adanac Molybdenum Corporation: US Private Placement Closes - More
- December 29, 2006 | Item | E-mail
Opawica Increases Size of Private Placements - More
- December 29, 2006 | Item | E-mail
Noront Reports Remaining Assays at Windfall Lake, Underground Exploration Planned - More
- December 29, 2006 | Item | E-mail
Vantex Completes a $20,000 Financing - More
- December 29, 2006 | Item | E-mail
Vantex Completes a $150,000 Flow-Through Financing - More
- December 29, 2006 | Item | E-mail
Arianne Completes a $500,000 Financing - More
- December 29, 2006 | Item | E-mail
Typhoon Closes a $1,000,000 Private Placement with MineralFields for Exploration of its Properties in Quebec - More
- December 29, 2006 | Item | E-mail
Hawk Reports Departure of a Director - More
- December 29, 2006 | Item | E-mail
Royal Gold Acquires Penasquito Royalty and Rights to Additional Royalties From Minera Kennecott - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; Toronto: RGL - News) today announced an agreement with Minera Kennecott S.A. De C.V. to acquire its 2.0% net smelter return ("NSR") royalty on the Penasquito project in Zacatecas, Mexico, for $100 million, consisting of $80 million in cash and 577,434 shares of Royal Gold common stock. The Penasquito project, composed of two main deposits called Penasco and Chile Colorado, is under development by Goldcorp Inc. ("Goldcorp")." More
- December 29, 2006 | Item | E-mail
Arian Silver Corporation: AGM Statement - "The last 12 months have seen considerable progress for the Company. We are now listed on 3 international stock exchanges with an excellent portfolio of projects in a world class silver district." More
- December 29, 2006 | Item | E-mail
- Chris Mullen, Gold Seeker Report
- Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here
Additional Resources for today’s Gold Seeker Report can be found:
© 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 29 December, 2006 | |
