-- Posted 22 January, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $633.40 | -$2.00 |
Silver | $12.87 | +$0.06 |
XAU | 132.09 | -0.77% |
HUI | 315.04 | -1.02% |
GDM | 1013.88 | -0.75% |
JSE Gold | 2699.00 | +0.31% |
USD | 85.03 | +0.16 |
Euro | 129.50 | -0.13 |
Yen | 82.21 | -0.25 |
Oil | $51.13 | -$0.86 |
10-Year | 4.759% | -0.014 |
T-Bond | 110.9375 | +0.15625 |
Dow | 12477.16 | -0.70% |
Nasdaq | 2431.07 | -0.83% |
S&P | 1422.95 | -0.53% |
The Metals:
Gold remained near unchanged in Asia, fell a couple of dollars in London, and dropped to as low as $632.60 in early New York trade before it rose near $640 by about 10Am EST, but it then fell back off into the close and ended near its lows with a loss of 0.31%. Silver fell to $12.72 before it rallied to about $13.10, but it also fell off into the close and ended with a gain of just 0.47%.
Euro gold fell back under €490, platinum remained unchanged at $1,157, palladium remained unchanged at $339, and copper fell a couple cents to about $2.55.
Gold and silver equities remained near unchanged in morning trade and then fell over 1% in afternoon trade before they rebounded a bit, but they still ended with about 1% losses.
The Economy:
The Leading Economic Indictors report was delayed until tomorrow at 10AM EST and is expected at 0.2%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose to over $53 in morning trade, but it then fell in afternoon trade and ended nearly a dollar lower on conflicting weather forecasts.
The U.S. dollar index and treasuries found slight gains as traders looked ahead to debt auctions and economic data later in the week.
The Dow, Nasdaq, and S&P fell markedly on worries over earnings reports.
Among the big names making news in the market today were American Express, Sun and Intel, Swift, Movie Gallery, Pfizer, Citigroup, OPEC, Goldman Sachs and Deutsche Bank, and Take-Two.
The Commentary:
“February Gold finished down 2.3 at 634.1, 6.1 off the high and 0.8 up from the low.
March Silver closed up 0.08 at 13. This was 0.17 up from the low and 0.21 off the high.
While the gold market managed an impressive upside breakout on the charts and reached the highest level since January 3rd, the market didn't exactly close impressively. According to the Press the market saw profit taking but it is also possible that weakness in the equity market and a reversal in the oil market prompted a change in attitude from the early morning bullishness. It is also likely that the strength of the US Dollar undermined gold sentiment, as the Dollar managed a 35 point bounce off the morning lows.
Like the gold market, the silver market mounted a very impressive early rally but into the afternoon session prices began to fade and the charts began to give off a disappointing look. Like the gold market, the silver market appears to have encountered some technical profit taking but it was also clear that a number of outside market forces that were positive in the morning turned bearish in the afternoon. For instance, the crude oil market in the afternoon was at times $2.50 below its highs of the day, while the Dollar managed a moderate 35 point bounce off its early lows.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Summers, Trichet warn Davos party-goers they underestimate risk
China will spend foreign exchange on 'strategic' resources
IMF will tell central banks to stop double-counting gold, Blanchard learns
China's multi-billion-dollar question
GATA supporters in Southeast Asia invited to dinner in Singapore
Leading Canadian banker recommends gold, denounces fiat system
China's reserves reach trillion; premier promises to start spending
Chinese govt. economist says yuan requires big revaluation
Ecuador calls foreign debt 'illegitimate,' may default on 60%
Venezuelan legislature votes to give Chavez dictatorial power
The Statistics:
As of close of business: 1/19/2007
Gold Warehouse Stocks: | 7,463,524 | -34,896 |
Silver Warehouse Stocks: | 112,955,820 | -359,982 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 451.84 | 14,527,242 | US$ 9,136m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 86.48 | 2,780,531 | US$ 1,759m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.67 | 342,749 | US$ 217m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,442 | US$ 204m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 1/19/2007 | |
Total Net Assets | $907,908,883 | 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 1/19/2007 | |
Total Net Assets | $1,514,575,567 | Ounces of Silver
in Trust | 119,101,742.400 |
Shares Outstanding | 11,950,000 | Tonnes of Silver
in Trust | 3,704.48 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Royal Gold’s (RGLD) General Counsel appointment, Gammon Lake’s (GRS) drill results, Goldcorp’s (GG) permits, Esperanza’s (EPZ.V) Chief Geologist appointment, Southern Silver’s (SSV.V) property acquisition, Silvercorp’s (SVM.TO) drill results, and Excellon’s (EXN.V) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Northern Dynasty | NAK +3.64% $7.68 |
2. Mines MGMT | MGN +3.22% $5.45 |
3. Hecla Mining | HL +2.28% $6.72 |
LOSERS
1. Metallica | MRB-2.85% $3.8375 |
2. Eldorado | EGO -2.50% $5.45 |
3. Vista Gold | VGZ -2.28% $7.70 |
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:
GenX Resource Corp Reports Geophysical Anomalies Identified on the McLaren Lake Property - More
- January 22, 2007 | Item | E-mail
Stellar Pacific to take high land position near Noront Resources in urban township - More
- January 22, 2007 | Item | E-mail
Majescor Announces a $150,000 Private Placement with SIDEX - More
- January 22, 2007 | Item | E-mail
Quantitative Methods, Corp. Announces Acquisition of 292 Claims in the Matagami Mining Camp - More
- January 22, 2007 | Item | E-mail
Global Minerals Ltd. Announces Private Placement Financing - More
- January 22, 2007 | Item | E-mail
Yukon Zinc Delivers Favourable Optimized Feasibility Study - More
- January 22, 2007 | Item | E-mail
Golden Goose Resources Inc. - Contract awarded to RSW Inc. in a 3,000 m drill program at Lac Levac - More
- January 22, 2007 | Item | E-mail
Greencastle Retains AGORACOM for Investor Relations - More
- January 22, 2007 | Item | E-mail
Vena Resources Provides Overview of Pucara Project in Peru - More
- January 22, 2007 | Item | E-mail
Paragon and Crosshair Expand High-Grade Gold Mineralization at Golden Promise Project - More
- January 22, 2007 | Item | E-mail
StrataGold reviews 2006 Exploration and Development Programs - More
- January 22, 2007 | Item | E-mail
Continuum closes $7,543,500 private placement - Amended - More
- January 22, 2007 | Item | E-mail
Geoinformatics Reports Significant Copper-Molybdenum-Silver-Lead-Zinc Anomalism Over a 2.2 kilometres by 850 metres Zone in Mexico - More
- January 22, 2007 | Item | E-mail
Wildcat receives requisition for shareholders' meeting - More
- January 22, 2007 | Item | E-mail
Partnership Agreement Between DIAGNOS and Sage Gold Inc. for the Exploration of Gold Property in Abitibi - More
- January 22, 2007 | Item | E-mail
Radius Outlines Plans for its 2007 Exploration Programs - More
- January 22, 2007 | Item | E-mail
Atomic Minerals Announces Signing of Letter of Intent to Acquire 1209 Unpatented Uranimum Mining Claims in Colorado - More
- January 22, 2007 | Item | E-mail
Prom Resources Receives More Perimeters With Greater Potential - More
- January 22, 2007 | Item | E-mail
Duran Results from the Pasacancha Silver Target - More
- January 22, 2007 | Item | E-mail
Full Metal Discovers IOCG Mineralization at Mt. Andrew: 48.8 Meters of 0.72% Cu - More
- January 22, 2007 | Item | E-mail
Laurion Mineral Exploration Inc. Announces New Discovery of VMS Style Cu-Zn Mineralization and Staking on the Enid-Massey Project - More
- January 22, 2007 | Item | E-mail
Galantas Omagh Mine: Ore Reserve and Resource Estimate - More
- January 22, 2007 | Item | E-mail
Uranium Star Corp. Retains The Buick Group for Corporate Communications and Strategic Advisory - More
- January 22, 2007 | Item | E-mail
Pelangio continues to confirm prospective gold zones at its Obuasi property in Ghana - More
- January 22, 2007 | Item | E-mail
Continuum closes $7,543,500 private placement - More
- January 22, 2007 | Item | E-mail
Geocom Commences Work on Its La Carolina Property - More
- January 22, 2007 | Item | E-mail
Manicouagan reports significant drill results from its Brabant Lake zinc deposit - 13.16 metres of 9.7% zinc - More
- January 22, 2007 | Item | E-mail
HIGH-GRADE GOLD ZONE EXPANDED AT GOLDEN PROMISE, REMAINS OPEN - More
- January 22, 2007 | Item | E-mail
Wits Basin Announces Business Development Update - More
- January 22, 2007 | Item | E-mail
Western Warrior commences HRAM survey of Pipestone Project - More
- January 22, 2007 | Item | E-mail
Romios Receives Results from Exploration Program on its Trek Property in the Galore Creek Area, BC - More
- January 22, 2007 | Item | E-mail
Simberi Provides Update - More
- January 22, 2007 | Item | E-mail
Majestic Gold Significantly Expands Gold Targets at Sawayaerdun - More
- January 22, 2007 | Item | E-mail
Rochester Announces New Appointments to the Board - More
- January 22, 2007 | Item | E-mail
Oromonte Resources verifies earlier drill results at its Nambija project in Southern Ecuador - More
- January 22, 2007 | Item | E-mail
Ucore Channels 0.752% U3O8 at Lost Pond - More
- January 22, 2007 | Item | E-mail
Unico, Inc. Announces Purchase of Main Transformer for Electrical Substation at the Deer Trail Mine - More
- January 22, 2007 | Item | E-mail
Dia Bras: High Silver Grades at Cusi - More
- January 22, 2007 | Item | E-mail
Strait Gold's Surface Work Confirms Mineralization at Culebrilla - More
- January 22, 2007 | Item | E-mail
PONTAX: Confirmation of High Assay Silver-Gold, Beginning of the Winter Campaign - More
- January 22, 2007 | Item | E-mail
Midlands Minerals Reports Drill Results Confirm Itilima Geology is Similar to Well Known Large Volcanogenic Archean Deposits in Tanzania - More
- January 22, 2007 | Item | E-mail
Gold World Reports on First Annual Meeting - More
- January 22, 2007 | Item | E-mail
Astral Commences Drill Program on Roy and Hills Properties in Nevada - More
- January 22, 2007 | Item | E-mail
Sierra Gold Corporation Uncovers Hard Rock Formation and Initial Observation Indicates Presence of Gold - More
- January 22, 2007 | Item | E-mail
Amera's Partner, Astral, Commences Drill Program on Roy and Hills Properties in Nevada - More
- January 22, 2007 | Item | E-mail
Marifil Strengthens Argentina Exploration Team - More
- January 22, 2007 | Item | E-mail
Ongoing 3-Dimensional Structural Analysis and Mineral Resource Evaluation on the Colibri, Ramard, and Leon Properties, Sonora, Mexico - More
- January 22, 2007 | Item | E-mail
Silverado announces discovery of first high grade lode gold (nugget source) at Nolan property - High antimony values also encountered - More
- January 22, 2007 | Item | E-mail
Russia's GV Gold says valued at $428-515 mln - More
- January 22, 2007 | Item | E-mail
Orvana Announces Fatality at Don Mario Mine - More
- January 22, 2007 | Item | E-mail
Soltoro Joint Ventures Quila Property to Southern Silver and Completes Induced Polarization Study at La Tortuga - More
- January 22, 2007 | Item | E-mail
Acero-Martin Expands Pinaya Land Package to 13,500 Hectares and Hires Consultants for Mine Development - More
- January 22, 2007 | Item | E-mail
Vangold Resources Ltd.: Drilling to Commence at Feni Project - More
- January 22, 2007 | Item | E-mail
CORRECTION FROM SOURCE: Goldrea Resources Corp.; NI 43-101 Indicates 331,175 Ounces in an Indicated Resource Analysis on Shandong Province Property - More
- January 22, 2007 | Item | E-mail
CityView Corporation-Update to Shareholders - More
- January 22, 2007 | Item | E-mail
Wealth Discovers New Uranium District Surficial Values up to 87 lb/t U3O8 - More
- January 22, 2007 | Item | E-mail
Forum Uranium and Hathor Exploration Identify Major Uranium Trend on Haultain River Project, Northern Saskatchewan - More
- January 22, 2007 | Item | E-mail
UEX Begins 2007 Sonic Drilling Program at West Bear Uranium Deposit - More
- January 22, 2007 | Item | E-mail
Hathor & Forum Identify Major Uranium Trend on Haultain River Project - More
- January 22, 2007 | Item | E-mail
USEC Updates 2006 Earnings Guidance - More
- January 22, 2007 | Item | E-mail
Royal Gold Appoints Kirchhoff as General Counsel - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News), the leading precious metals royalty company, today announced that Bruce Kirchhoff will join the Company as General Counsel effective February 1, 2007. In this position, Mr. Kirchhoff will have primary legal responsibility for the preparation of royalty acquisition and royalty financing documents, and will work closely with the Business Development team in negotiating and structuring royalty transactions." More
- January 22, 2007 | Item | E-mail
Esperanza Appoints Paul Bartos as Chief Geologist to Support Exploration Growth - "Esperanza Silver Corporation ("Esperanza" or "the Company") (TSX VENTURE:EPZ - News) is pleased to announce the appointment of Dr. Paul J. Bartos as Vice President and Chief Geologist. He will assist in overseeing its exploration activities in Mexico and South America as the Company expands its successful programs, in particular the programs at the bonanza-grade San Luis epithermal gold and silver deposit in Peru and the Cerro Jumil bulk-tonnage gold deposit in Mexico." More
- January 22, 2007 | Item | E-mail
Southern Silver Consolidates, Copper/Gold/Silver District in Jalisco, Mexico - "Southern Silver Exploration Corp. (TSX VENTURE:SSV - News; FWB:SEG) again has increased its interest in a polymetallic-copper-gold-silver district by acquiring a 70% interest in the Quila property in Jalisco, Mexico from Soltoro Ltd. (TSX VENTURE:SOL - News). Southern Silver's area of interest has grown from 110 sq. km to 337 sq. km and has been expanded to cover a mineralized corridor some 25 kilometers in length which has seen little or no modern exploration." More
- January 22, 2007 | Item | E-mail
Silvercorp Metals Inc.: Additional High Grade Silver, Lead and Zinc Interceptions on the S21 Vein at the Ying Mine, Henan, China - "Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM - News) is pleased to announce that drilling and tunneling on the S21 vein have defined additional high grade massive galena sheets that may add to the mineral resources at Ying Silver Mine, Henan, China. The S21 vein was first discovered through limited surface drilling and underground tunneling, as reported on January 4, 2006." More
- January 22, 2007 | Item | E-mail
Excellon Receives High Grade Results That Expand Guadalupe Manto and Indicate New Manto Discovery at Platosa, and Appoints John Sullivan - "Eleven of the holes are from the Guadalupe Manto, the largest massive sulphide body discovered to date on the property, and the results confirm visual assessments of the intersections reported on October 16, 2006. Silver grades in the eleven holes range between 139 and 1331 g/tonne ("t") (4.5 and 43 oz/t); lead grades range between 2 and 21.4%; and zinc grades range between 0.65 and 19.4% over widths ranging from 0.50 to 7.00 metres (see table)." More
- January 22, 2007 | Item | E-mail
Gammon Lake Announces Results of Yearly Exploration Drilling at the Ocampo Gold-Silver Mine - "Gammon Lake Resources Inc. ("Gammon Lake") (TSX:GAM and AMEX:GRS) is pleased to announce the results of new exploration drilling completed at the Company's Ocampo Gold-Silver Project in Chihuahua, Mexico. Exploration drilling at Ocampo continues to intersect high grade ore shoots and continues to enlarge Ocampo gold-silver deposits. The 124 new drill holes completed at Ocampo produced 200 intervals above cut off grades, representing a 74% success rate for the 2006 drilling campaign." More
- January 22, 2007 | Item | E-mail
Goldcorp Receives Penasquito Construction and Operating Permits - "GOLDCORP INC. (TSX:G.TO - News)(NYSE:GG - News) announced today that it has received all permits required for full mine and mill construction and operation of its Penasquito project in Zacatecas, Mexico. Penasquito mine is projected to be the largest mine in Mexico when full production is achieved. Current reserves represent seventeen years of gold, silver and zinc production." More
- January 22, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 22 January, 2007 | |
