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-- Posted 8 January, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $607.40 | +$2.30 | Silver | $12.27 | +$0.15 | XAU | 132.87 | -0.13% | HUI | 314.79 | +0.21% | GDM | 1011.47 | -0.25% | JSE Gold | 2792.36 | +0.64% | USD | 84.61 | -0.05 | Euro | 130.19 | +0.08 | Yen | 84.24 | -0.04 | Oil | $56.09 | -$0.22 | 10-Year | 4.660% | +0.014 | T-Bond | 112.125 | -0.03125 | Dow | 12423.49 | +0.21% | Nasdaq | 2438.20 | +0.16% | S&P | 1412.84 | +0.22% |
The Metals: CoT Reports: Gold | Silver  Gold rose a few dollars in Asia and London before it fell in late morning New York trade and found slight losses at one point, but it then rallied back higher into the close and ended with a gain of 0.38%. Silver fell near $12.00 in late Asian trade before it rose in London and climbed to about $12.30 in late morning New York trade, but it then fell off with gold and found slight losses ahead a rally into the close that left it with a gain of 1.24%.
Euro gold rose to about €467, platinum gained $10 to $1,118, palladium lost $4 to $326, and copper remained at about $2.52. Gold and silver equities fell over 1% by late morning, but they then rallied higher in afternoon trade and ended mixed and near unchanged. The Economy: Report | For | Reading | Expected | Previous | Consumer Credit | Nov | $12.3B | $5.5B | -$1.3B |
There are no major economic reports due out tomorrow. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose over a dollar in early trade on OPEC cut rumors and a supply dispute between Russia and Belarus, but it fell off and found slight losses by the end of trade on continued warm weather in the U.S. The U.S. dollar index remained near unchanged with little economic data to act on. Treasuries fell in further reaction to last week’s strong jobs data. The Dow, Nasdaq, and S&P fell in early trade as oil rose, but all three indices rallied higher in afternoon trade and closed with slight gains as oil ended lower. Among the big names making news in the market today were RadioShack, Caremark, General Electric and Vetco, and Welsh Carson and United Surgical Partners. The Commentary:  “February Gold finished up 2.5 at 609.4, 1.7 off the high and 4.3 up from the low.
March Silver closed up 0.13 at 12.36. This was 0.18 up from the low and 0.06 off the high. With an inside day on the charts the market seems to be attempting to build some support. Reports of physical bargain hunting buying certainly seemed to provide the gold market with an early lift on Monday, but the market in general was only able to mount modest gains for most of the session. With the Dollar failing to give off much in the way of direction, the gold trade was probably limited to a tighter trading range than would have normally been the case. With US consumer spending rising by $12.3 billion in November one might have expected the gold market to be lifted in a flight to quality play but as a whole few markets reacted to the Consumer Credit figures. In the end seeing gold manage a positive close in the face of a stronger equity market and weaker oil prices might be considered a moral victory for the bull camp. With the gold market providing positive direction for silver throughout the session and silver actually managing to rise above the prior day's closing value, it would seem like the bearish environment was mitigated slightly. While the copper market managed to forge a recovery well into positive ground on the session, the close in copper wasn't that supportive to silver. It is possible that strength in the equity and platinum markets provided some lift to silver prices which were certainly overdone technically from the selling in the prior week.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts:
Hedging hangs in the balance Bolivia reported ready to increase mining taxes 600% Digital gold and a flawed global economic order Bond market derivatives now offer profit without risk Adrian Ash: Quantum Finance and the scramble for gold Markets misread 'strong dollar' policy, Harvard economist says Wall Street Journal examines struggle to start mining in Mongolia 'Infinite money and its consequences' is theme of CMRE spring meeting in NYC The Statistics: As of close of business: 1/05/2007 Gold Warehouse Stocks: | 7,530,907 | -2,900 | Silver Warehouse Stocks: | 113,477,130 | - |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 453.24 | 14,572,124 | US$ 8,878m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 90.28 | 2,902,721 | US$ 1,767m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.53 | 338,348 | US$ 206m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,467 | US$ 200m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 1/5/2007 | | Total Net Assets | $864,318,571 | Ounces of Gold
in Trust | 1,428,943.630 | Shares Outstanding | 14,400,000 | Tonnes of Gold
in Trust | 44.45 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 1/5/2007 | | Total Net Assets | $1,550,451,945 | Ounces of Silver
in Trust | 122,091,233.400 | Shares Outstanding | 12,250,000 | Tonnes of Silver
in Trust | 3,797.46 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Bolivia’s mining taxes, Almaden’s (AAU) project advancement, Claude’s (CGR) management team additions, Rubicon’s (RBY) update, Anatolia’s (ANO.TO) update, UC Resources’ (UC.V) expanded land package, and Sterling Mining’s (SRLM.OB) update were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Cardero | CDY +8.11% $1.60 | 2. New Gold | NGD+4.41% $7.2044 | 3. Rio Narcea | RNO +3.90% $2.40 |
LOSERS 1. Crystallex | KRY -10.00% $3.42 | 2. Gold Reserve | GRZ -5.13% $4.16 | 3. Apex Silver | SIL -4.64% $14.37 |
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:
G&S Minerals, Inc. Announces $6.2 Million Financing Slated for Expansion and Acquisition - More
- January 08, 2007 | Item | E-mail
Gold Canyon Announces Expansion of High Grade Gallium Mineralization in the C-15 Zone at the Cordero Gallium Project - More
- January 08, 2007 | Item | E-mail
Oriental Minerals Closes Non-Brokered Private Placement - More
- January 08, 2007 | Item | E-mail
Almaden Will Advance the Caballo Blanco Project in 2007 - "Almaden Minerals Ltd. (TSX:AMM.TO - News)(AMEX:AAU - News) ("Almaden") is pleased to announce that it has completed a joint venture agreement with Comaplex Minerals Ltd. (TSX:CMF.TO - News) ("Comaplex") which earned a 60% interest in Almaden's Caballo Blanco project in 2006 by meeting its exploration spending requirements. The terms of the joint venture allow Almaden to be the operator of the 2007 program." More
- January 08, 2007 | Item | E-mail
Claude Resources Inc. announces additions to management team - "Claude Resources Inc. (TSX:CRJ - News; AMEX:CGR - News; "Claude") is pleased to announce the addition of two experienced mining professionals to its executive team. Ms. Judy Stoeterau has been appointed Vice-President, Exploration and Mr. Philip Ng has joined the Company as Vice-President, Operations." More
- January 08, 2007 | Item | E-mail
UC Resources Inc. Expands Copalquin Land Package to 1,500 Sq. Kilometres - "As announced (see NR dated September 20, 2006), one of the objectives of Phase III exploration program on the Copalquin property was to confirm that epithermal gold and silver mineralization at Copalquin is more extensive than had been recognized by previous operators. New results from recently completed close spaced soil geochemical surveys located approximately 500 meters to the east of the Cometa Zone identified highly anomalous gold and silver values in soils covering an area of several hundred square meters, with peak values ranging from 0.4 to 0.7 g/t gold and 5.0 to 10.3 g/t silver." More
- January 08, 2007 | Item | E-mail
Merrex Intersects Significant Gold Values in Initial RAB Drilling at Siribaya Project in Mali, West Africa - More
- January 08, 2007 | Item | E-mail
Bolivia seeks big tax hike on mining companies - "Bolivia's mining minister has expressed a desire to raise taxes sixfold on mining companies with operations in the country, but will consult with the companies before implementing tax hikes, a spokeswoman for the Mining Ministry said on Monday." More
- January 08, 2007 | Item | E-mail
Avalon Announces new Executive Appointments and Head Office Move - More
- January 08, 2007 | Item | E-mail
Adanac Hires Fuller Fletcher for European Exposure - More
- January 08, 2007 | Item | E-mail
YGC Resources appoints new director - More
- January 08, 2007 | Item | E-mail
Wildcat appoints interim President, CEO, and new CFO - More
- January 08, 2007 | Item | E-mail
Nuinsco Calls Special Meeting to Approve Restructuring of Nickel Assets - More
- January 08, 2007 | Item | E-mail
HuntMountain Signs Letter of Intent to Acquire Argentina Gold Property - More
- January 08, 2007 | Item | E-mail
Sienna Obtains Drill Permit for Igor Exploration Program - More
- January 08, 2007 | Item | E-mail
Drilling commences on Weixi Zinc Project - More
- January 08, 2007 | Item | E-mail
UCR Intersects 0.322% U(3)O(8) Over 4.0 Metres from Drilling East Target - More
- January 08, 2007 | Item | E-mail
Goldcorp Declares First Monthly Dividend Payment for 2007 - "GOLDCORP INC. (TSX:G.TO - News)(NYSE:GG - News) is pleased to declare its first monthly dividend payment for 2007 of $0.015 per share. Shareholders of record at the close of business on Friday, January 19, 2007 will be entitled to receive payment of this dividend on Friday, January 26, 2007." More
- January 08, 2007 | Item | E-mail
Noront Appoints New CFO - More
- January 08, 2007 | Item | E-mail
Rampart to Drill Split Rapids Area With High Grade Uranium in Sibley Basin-Lake Nipigon, Ontario - More
- January 08, 2007 | Item | E-mail
Pan American Gold Corporation Huicicila Update - More
- January 08, 2007 | Item | E-mail
Asia Now Gets Gold, Copper Values From Beiya Far North and Beiya West - More
- January 08, 2007 | Item | E-mail
Arianne Starts Works on the Opinaca Property, James Bay - More
- January 08, 2007 | Item | E-mail
Abcourt Mines Inc.: Update on the Elder Drilling Program - More
- January 08, 2007 | Item | E-mail
Cooper Minerals 'Worth Exploring' Says Investrend Analyst Loiacono, In Initial 'Benchmark' Report Rating Company As 'Speculative Buy/ 4' - More
- January 08, 2007 | Item | E-mail
High Plains Announces Drilling Results on Converse-Sand Creek Project - More
- January 08, 2007 | Item | E-mail
Rockcliff Resources Inc.: Drilling to Commence at the Shihan VMS Property - More
- January 08, 2007 | Item | E-mail
Goldex Resources Corporation Drill Program Update - More
- January 08, 2007 | Item | E-mail
First Gold Concentrate From Galantas Production Trial - More
- January 08, 2007 | Item | E-mail
Caldera Resources Inc.-Runton Igneous Complex-Southern Dyke - More
- January 08, 2007 | Item | E-mail
Unico, Inc. Announces 2007 Exploration Plan for Clyde and Crown Point Mineral Claims - More
- January 08, 2007 | Item | E-mail
SLAM appoints CFO to strengthen its team - More
- January 08, 2007 | Item | E-mail
Imperial Raises Bid for bcMetals - "Imperial Metals Corporation (TSX:III.TO - News) today announced it's wholly owned subsidiary, CAT-Gold Corporation, will increase its all-cash offer to acquire the outstanding common shares of bcMetals Corporation ("bcMetals") to $1.125 per share." More
- January 08, 2007 | Item | E-mail
Stratoni Mine Exceeds Production Target for 2006 - More
- January 08, 2007 | Item | E-mail
Robert Boaz Joins AuEx Board of Directors - More
- January 08, 2007 | Item | E-mail
Oromonte acquires 900 hectares of prospective ground west of the Aurelian Condor Project with surface sampling values of 1.67 to 3.04 gr/tn Au - More
- January 08, 2007 | Item | E-mail
Gold mineralization at Etruscan's Diba discovery extends for over two kilometers - More
- January 08, 2007 | Item | E-mail
Rubicon Minerals Updates Red Lake Programs - "The Phoenix Gold Zone was discovered by Rubicon in 2004 has since been tested through drilling at an average 30-metre spacing over a strike length of 500 metres and to a depth of 200 metres. The zone remains open at depth and along strike for expansion. Based on 67 significant drill intercepts from previous programs, the weighted average gold grade for the zone is 10.66 g/t gold over 2.0 metres(1) (see September 20, 2006 and May 4, 2005 news releases for complete results." More
- January 08, 2007 | Item | E-mail
Alberta Star Samples 0.69% Uranium and 30.9 g/ton Silver at the Mag Hill Target Area at Contact Lake, NT - More
- January 08, 2007 | Item | E-mail
Rio Tinto withdraws uranium assets from sale - More
- January 08, 2007 | Item | E-mail
sxr Uranium One Inc. Exercises Its Right to Extend the Option to Purchase Uranium Assets From U.S. Energy Corp. and Crested Corp. - More
- January 08, 2007 | Item | E-mail
Canyon Resources Uranium Joint Venture Drilling Confirms Mineralization - More
- January 08, 2007 | Item | E-mail
Ditem Listed on the Frankfurt Exchange - More
- January 08, 2007 | Item | E-mail
Sweetwater Uranium Assets Withdrawn From Sale by Rio Tinto; Exclusivity Agreement Relating to Shootaring Canyon Uranium Assets Extended - More
- January 08, 2007 | Item | E-mail
Sterling Tunnel Reaches Halfway Mark as Upper Country Drilling Continues - "Sterling Mining Company (OTCBB: SRLM - News) today reported that the main heading of the Sterling Tunnel at the Sunshine Mine has passed the halfway mark ahead of schedule on its advance to connect with the Polaris Drift-Silver Summit Tunnel which lies another 1,705 feet away. Connecting the two tunnels will provide a new escapeway from the Silver Summit hoist area and expand the ventilation capacity of the Mine as a whole while, at the same time, providing for drill platforms to test target areas previously identified in the Upper Country, as well as accessing older workings." More
- January 08, 2007 | Item | E-mail
Taseko Updates Share Purchases of bcMetals Corp. - "("Taseko" or the "Company") (TSX:TKO.TO - News)(AMEX:TGB - News)announces that on January 5, 2007 it purchased 83,200 bcMetals shares through the TSX Venture Exchange at a price of $1.09 per share bringing its total holdings in bcMetals to 1,874,800 shares (4.88%) at an average price of $1.01." More
- January 08, 2007 | Item | E-mail
Newmont Mining rating, price target lowered at Prudential - "Newmont Mining was downgraded to underweight from neutral weight at Prudential, which cited weak earnings power even at optimistic assumptions for metals prices. Analyst John Tumazos also lowered his stock price target to $40 from $50." More
- January 08, 2007 | Item | E-mail
Anatolia Updates Development and Exploration Activities; Permitting Advances - "Anatolia's year-end 2006 treasury exceeded US$65 million, following exercise of warrants from the December 2004 financing. This exceeds the anticipated equity component for project development by an estimated US$30 million, providing for an aggressive exploration program during construction, corporate costs and a healthy reserve. The $115 million debt facility has received credit approval and the Company continues to complete loan documentation and clear the conditions precedent aiming for drawdown in the 2nd quarter of 2007." More
- January 08, 2007 | Item | E-mail
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-- Posted 8 January, 2007 | |
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