-- Posted 26 January, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $644.60 | -$3.70 | +1.45% |
Silver | $13.26 | -$0.10 | +3.51% |
XAU | 138.64 | +0.14% | +4.17% |
HUI | 332.53 | +0.47% | +4.48% |
GDM | 1064.37 | +0.17% | +4.19% |
JSE Gold | 2788.23 | -3.12% | +3.63% |
USD | 85.24 | +0.12 | +0.44% |
Euro | 129.12 | -0.17 | -0.39% |
Yen | 82.24 | -0.28 | -0.27% |
Oil | $55.42 | +$1.19 | +6.60% |
10-Year | 4.879% | +0.012 | +2.22% |
Bond | 109.53125 | -0.1875 | -1.13% |
Dow | 12487.02 | -0.12% | -0.62% |
Nasdaq | 2435.49 | +0.05% | -0.65% |
S&P | 1422.18 | -0.12% | -0.58% |
The Metals:
CoT Reports: Gold | Silver
Gold fell a few dollars in Asia and dropped near $640 in London before it rebounded in New York, but it still ended with a loss of 0.57%. Silver fell near $13.10 in London before it rebounded in New York and saw slight gains by late morning, but it then fell back off into the close and ended with a loss of 0.75%.
Euro gold fell slightly under €500, platinum lost $1 to $1,179, palladium remained unchanged at $350, and copper fell a couple cents to about $2.64.
Gold and silver equities traded mixed and near unchanged throughout the day and ended with small gains.
The Economy:
Report | For | Reading | Expected | Previous |
Durable Orders | Dec | 3.1% | 3.5% | 2.2% |
New Home Sales | Dec | 1120K | 1050K | 1069K |
All of this week’s economic reports:
Next week’s economic highlights include Consumer Confidence on Tuesday, GDP, Chicago PMI, Construction Spending, and a fed meeting on Wednesday, Personal Income and Spending, Initial Jobless Claims, and the ISM Index on Thursday, and January’s jobs data, Factory Orders, and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose over 2% on cold U.S. weather and geopolitical worries over Venezuela, Nigeria, and the Middle East. A new report showing that OPEC is living up to their production cuts and further reaction to the announcement that the U.S. is doubling its strategic petroleum reserves also had traders buying.
The U.S. dollar index rose and treasuries fell as economic data came in mostly strong and pushed the yield on the 10-year to a new 5 month high.
The Dow, Nasdaq, and S&P fell on poor earnings reports and worries over higher interest rates, but all three indices rebounded in the last two hours of trade and ended mixed and near unchanged.
Among the big names making news in the market Friday were KB Home, Halliburton, Caterpillar, Nasdaq and LSE, Honeywell, T. Rowe Price, and Microsoft.
The Commentary:
“February Gold finished down 3.4 at 644.7, 3.4 off the high and 2.2 up from the low.
March Silver closed down 0.115 at 13.375. This was 0.085 up from the low and 0.125 off the high.
The gold market started out soft, managed to rally into the second set of US economic readings and then seemed to soften again in the afternoon action. However, the Dollar wasn't specifically the culprit behind the weakness in gold prices Friday, as the Dollar was unable to sustain its early strength. Surprisingly the gold market seemed to pay little attention to the strength in the oil market Friday but considering the volatility in oil prices this week, it is possible that some gold bulls will need to see more persistent strength in oil prices before upgrading the prospects in gold. It is also possible that fears of the weekend G7 meeting forced some gold players to the sidelines. In the end, the US economic reports released Friday are expected to provide gold with support, but with the US equity market remaining under pressure on Friday, the trade was having trouble maintaining a positive macro economic outlook.
While the stronger than expected US New Home Sales figures should have provided silver with support, the fact that gold was weak, copper prices were under pressure and the fact that the equity market remained in a downward spiral could have pushed some would be buyers to the sidelines. With the equity market action offsetting the favorable economic readings from the US and the gold market also leading the precious metals downward on Friday, it wasn't surprising that the market simply ignored news that the world's 5th largest silver miner Polymetal saw a 8.5% decline in 2006 silver output.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
MineWeb notes pro-gold speech by Royal Bank's Fell
The Statistics:
As of close of business: 1/25/2007
Gold Warehouse Stocks: | 7,463,524 | - |
Silver Warehouse Stocks: | 114,757,944 | +597,554 |
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 | 450.30 | 14,477,672 | US$ 9,434m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 86.48 | 2,780,408 | US$ 1,794m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.67 | 342,734 | US$ 221m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,402 | US$ 214m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 1/25/2007 | |
Total Net Assets | $909,358,026 | Ounces of Gold
in Trust | 1,404,140.630 |
Shares Outstanding | 14,150,000 | Tonnes of Gold
in Trust | 43.67 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 1/25/2007 | |
Total Net Assets | $1,553,063,293 | Ounces of Silver
in Trust | 116,112,664.800 |
Shares Outstanding | 11,650,000 | Tonnes of Silver
in Trust | 3,611.51 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
IAMGOLD’s (IAG) illegal work stoppage, Meridian’s (MDG) new vice president of business development, Anglo American’s (AAUK) sought mining permits, Endeavour’s (EXK) listing on the American Stock Exchange, Abcourt’s (ABI.V) property option, and ECU Silver’s (ECU.V) drill results were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Orezone | OZN +2.86% $1.44 |
2. Arizona Star | AZS +2.58% $11.95 |
3. Northern Dynasty | NAK +2.41% $8.07 |
LOSERS
1. New Gold | NGD-3.97% $7.25 |
2. IAMGOLD | IAG -3.24% $8.37 |
3. Crystallex | KRY -2.30% $2.98 |
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:
Endeavour Silver Corp. Lists on the American Stock Exchange - "Endeavour Silver Corp. (Toronto Future:EDR.TO - News)(DBFrankfurt:EJD) announces that its common shares have been approved for listing on the American Stock Exchange ("AMEX") effective at the opening of trading on January 29, 2007. The AMEX listing approval is contingent on the Company being in compliance with all applicable listing requirements on the date that it begins trading and may be rescinded if the Company is not in compliance with such standards." More
- January 26, 2007 | Item | E-mail
AMEX: EXK - Endeavour Silver Corp. Lists on the American Stock Exchange
- January 26, 2007 | Item | E-mail
IAMGOLD Corporation: Operations Suspended by an Illegal Work Stoppage at Rosebel - "IAMGOLD Corporation ("IAMGOLD" or "the Company")(Toronto Future:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) has announced that late in the evening on Thursday, January 25, 2007, a number of unionized employees of Rosebel Gold Mines N.V. ("Rosebel"), a subsidiary of IAMGOLD based in Suriname, commenced an illegal work stoppage and as a result, production at the facility has been temporarily suspended." More
- January 26, 2007 | Item | E-mail
Vena Resources Signs Strategic Agreement with Cameco Corporation to Explore Uranium Assets in Peru - More
- January 26, 2007 | Item | E-mail
Tagish Corporate Progress Report - More
- January 26, 2007 | Item | E-mail
Development of the Kwale Mineral Sands Project Moving Ahead: Tiomin Enters into Letter of Intent to Option 50% of Kenya Projects - More
- January 26, 2007 | Item | E-mail
Miranda Gold Reports Coal Canyon Drill Results - More
- January 26, 2007 | Item | E-mail
Raven Gold Corp. Announces a New Senior Advisor - More
- January 26, 2007 | Item | E-mail
Enterayon Retains Navarco Inc. - More
- January 26, 2007 | Item | E-mail
Win-Eldrich Mines' Ashdown Project completes second sale of molybdenum concentrate - More
- January 26, 2007 | Item | E-mail
LOUNOR EXPLORATION Inc. - Private placement - More
- January 26, 2007 | Item | E-mail
Stratagold appoints Manager, Environment and Community Affairs - More
- January 26, 2007 | Item | E-mail
Mediterranean closes CDN$3,059,250 private placement - More
- January 26, 2007 | Item | E-mail
Nuinsco Moves Two Steps Closer to Creating Victory Nickel Inc. - More
- January 26, 2007 | Item | E-mail
Abcourt Mines Inc.: Option on the Aldermac Property Approved by Directors - "The Aldermac property comprises ten (10) claims in Beauchastel township , in Abitibi, Quebec, and covers an area of 303 hectares. This property was the site of an operating mine from 1936 to 1943 and it is serviced by a 495-meter (1,625 feet) shaft and drifts on nine levels." More
- January 26, 2007 | Item | E-mail
Callinan Mines Limited: Assays Confirm Coles Creek Potential - More
- January 26, 2007 | Item | E-mail
Vantex Raises $302,000 - More
- January 26, 2007 | Item | E-mail
Amseco Takes Land Position Near Noront Resources Ltd. in Urban Township - More
- January 26, 2007 | Item | E-mail
Eagle Plains Corporate Update - More
- January 26, 2007 | Item | E-mail
Freeport Announces Molybdenum Results From The Q's Adit No. 2 - More
- January 26, 2007 | Item | E-mail
First Narrows Resumes Mineral Resource Estimate Drilling on Chester Feeder Deposit - More
- January 26, 2007 | Item | E-mail
ITH Continues to Expand LMS Deposit, Alaska - More
- January 26, 2007 | Item | E-mail
BacTech Announces Uranium Joint Venture - More
- January 26, 2007 | Item | E-mail
Dynatec Announces Contract Extension at Red Lake Gold Mines - More
- January 26, 2007 | Item | E-mail
Imperial Raises Bid for bcMetals to C$1.30 - "Imperial Metals Corporation (Toronto Future:III.TO - News) today announced that it's wholly owned subsidiary, CAT-Gold Corporation, will increase its all-cash offer to acquire the outstanding common shares of bcMetals Corporation to $1.30 per share." More
- January 26, 2007 | Item | E-mail
San Miguel Technical Report Recommends Additional Exploration to Increase Preliminary Resource Estimate - More
- January 26, 2007 | Item | E-mail
Quinto options its Godbout uranium property - More
- January 26, 2007 | Item | E-mail
Purepoint Uranium Group Inc: Purepoint Announces Athabasca Basin Joint Venture With Cameco Corporation - More
- January 26, 2007 | Item | E-mail
Cameco May Halt Water Leak at Mine in Second Quarter - More
- January 26, 2007 | Item | E-mail
Congo state gold miner wants Moto deals reviewed - More
- January 26, 2007 | Item | E-mail
Asian Dragon Group Inc. Focuses on Earnings and Share Value By Entering Into Final Negotiations For The Lingbao/Yishishan Gold Mine - More
- January 26, 2007 | Item | E-mail
Freegold Ventures - Non Brokered Private Placement - More
- January 26, 2007 | Item | E-mail
Paramount Gold Reports NI 43-101 Technical Report; A Preliminary Resource Estimate at Their San Miguel Project, Mexico - More
- January 26, 2007 | Item | E-mail
AXMIN Inc.: Issuance of Stock Options - More
- January 26, 2007 | Item | E-mail
St Andrew Announces Shipment of First Gold Dore From Nixon Fork Gold Mine, Alaska - More
- January 26, 2007 | Item | E-mail
ECU Silver Announces New Assays From Level 18 Within the Mineralized Corridor at the Santa Juana Mine - "Mr. Michel Roy, Chairman and CEO of ECU Silver Mining Inc. (TSX VENTURE:ECU - News) is pleased to announce the Company has received assays from several new cuts of the Mineralized Corridor (the "MC") (first reported in the Company's press release dated December 18, 2006) on level 18 of the Santa Juana mine." More
- January 26, 2007 | Item | E-mail
Meridian Gold Strengthens Leadership Team - "Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX: MNG - News; NYSE: MDG - News) is pleased to announce the hiring of Mr. Howard Stevenson as its Vice President, Business Development. Mr. Stevenson will assume responsibilities for the Business Development function on March 1, 2007. Mr. Stevenson will play a key role in assuring Meridian Gold achieves its growth initiatives to become a one million ounce producer over the next few years." More
- January 26, 2007 | Item | E-mail
Anglo American seeks Philippine mining permits - "Anglo American Plc (AAL.L: Quote, Profile , Research) (AGLJ.J: Quote, Profile , Research), the world's third biggest mining group, has joined the rush to discover new Philippine mines by seeking permits to explore in a dozen areas in the country, a source close to the firm said on Friday." More
- January 26, 2007 | 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 2007
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 26 January, 2007 | |
