-- Posted 29 January, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $642.60 | -$2.00 |
Silver | $13.14 | -$0.12 |
XAU | 136.10 | -1.84% |
HUI | 325.09 | -2.24% |
GDM | 1045.11 | -1.81% |
JSE Gold | 2773.36 | -0.53% |
USD | 85.12 | -0.12 |
Euro | 129.54 | +0.42 |
Yen | 82.00 | -0.24 |
Oil | $53.92 | -$1.50 |
10-Year | 4.892% | +0.013 |
T-Bond | 109.40625 | -0.125 |
Dow | 12490.78 | +0.03% |
Nasdaq | 2441.09 | +0.23% |
S&P | 1420.62 | -0.11% |
The Metals:
Gold rose a couple dollars in early Asian trade, fell back near unchanged by the London open, fell a couple dollars in London trade, dropped to as low as $640.40 in early New York trade, rose for most of the rest of the morning, and saw about three dollar gains by late morning before it fell back off in afternoon trade and ended with a loss of 0.31%. Silver followed a similar pattern and ended with a loss of 0.90%.
Euro gold fell near €495, platinum lost $7 to $1,172, palladium lost $9 to $341, and copper fell over ten cents to about $2.53.
Gold and silver equities traded slightly lower in morning trade, extended their losses in afternoon trade, and ended with about 2% losses.
The Economy:
There were no major economic reports today. Tomorrow at 10AM EST is the Consumer Confidence report for January expected 110.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on warm weather forecasts and conflicting reports on whether or not OPEC is living up to their stated production cuts.
The U.S. dollar index and treasuries found slight losses as traders looked ahead to a fed meeting and economic data later in the week. The yield on the 10-year rose to a new 5 month high.
The Dow, Nasdaq, and S&P rose on earnings and merger news before they pared their gains in afternoon trade on worries over interest rates and ended mixed and near unchanged.
Among the big names making news in the market today were Tyson Foods, Canon, Phelps Dodge, Merrill Lynch, Abitibi and Bowater, Verizon, Mattel, and Schering-Plough.
The Commentary:
“February Gold finished down 1.5 at 643.2, 4.8 off the high and 2.4 up from the low.
March Silver closed down 0.125 at 13.25. This was 0.04 up from the low and 0.14 off the high.
The gold market seemed to outperform the silver market throughout the session Monday as gold managed to fight its way back into positive ground in the early afternoon action, while silver had trouble holding above the prior session's lows. Apparently the Press was suggesting that gold was seeing geopolitical support off the idea that Iranian tensions with the US were escalating. Others suggested that gold was lifted by options expiration but it was also possible that slightly better than expected US economic numbers gave the market a positive bid. It is even possible that weaker US Dollar action, in the wake of favorable US economic information served to lift gold prices indirectly!
Apparently the silver market wasn't initially lifted by the same forces that lifted gold, as silver wasn't able to claw its way back into positive ground as easily as gold. Certainly the silver market was held back by overt weakness in copper prices and possibly because of the commodity drag off weakness in the oil market. However, one would have expected silver to have benefited from better than expected US economic reports that were released during the session Monday. Even more surprising is the fact that silver failed to garner any support from the upgrade of a silver stock at a major brokerage firm.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
MineWeb: China scrambles for African mineral resources
James Turk comments on International Speculator report on GATA's work
Even central banks can't figure out market risks now
'Debt and Delusion' author Peter Warburton to address May 10 CMRE meeting
IMF gold trading rules changes are set to boost gold price
Jason Hommel reports on silver, Vancouver, and GATA
Malaysia shifts away from dollar, prime minister says
The Statistics:
As of close of business: 1/26/2007
Gold Warehouse Stocks: | 7,463,524 | - |
Silver Warehouse Stocks: | 114,238,099 | -519,845 |
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$ 9,343m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 86.48 | 2,780,316 | US$ 1,787m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.67 | 342,722 | US$ 221m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,391 | US$ 212m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 1/26/2007 | |
Total Net Assets | $904,714,397 | 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 1/26/2007 | |
Total Net Assets | $1,534,463,992 | 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:
Exeter’s (XRA) ringing of the opening bell on the Amex, Rubicon’s (RBY) project update, Gammon Lake’s (GRS) drill results, Glencairn’s (GLE) exploration program, Seabridge’s (SA) drill results, Endeavour’s (EXK) Amex listing, and Hecla’s (HL) Vancouver office opening were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Almaden | AAU +6.26% $2.5078 |
2. Nevsun | NSU +4.35% $2.40 |
3. Northern Dynasty | NAK +3.97% $8.39 |
LOSERS
1. Gold Reserve | GRZ -6.99% $3.46 |
2. Freeport | FCX-5.81% $55.09 |
3. Crystallex | KRY -5.70% $2.81 |
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:
International Precious Metals Group Inc. Hires Financial Advisor - More
- January 29, 2007 | Item | E-mail
Ditem Announces Closing of $2,750,000 Private Placement - More
- January 29, 2007 | Item | E-mail
Millstream Reports Assays & Interval Lengths of Stacked Massive Sulphide Zone Intercepts - More
- January 29, 2007 | Item | E-mail
Iberian Minerals Corp.: President's Letter # 3 - More
- January 29, 2007 | Item | E-mail
Solex Resources Corp. Appoints Mr. Robert Boaz as Independent Chairman - More
- January 29, 2007 | Item | E-mail
Forsys Metals Corp.: Senior Management Appointments for the Valencia Uranium Project - More
- January 29, 2007 | Item | E-mail
Millstream Completes Non-Brokered Private Placement - More
- January 29, 2007 | Item | E-mail
Azimut and Northwestern sign an Option Agreement for the Daniel Lake Uranium Property, Ungava Bay Region, Quebec - More
- January 29, 2007 | Item | E-mail
ABV Gold Signs Letter of Intent to Acquire the Parin Mining Properties - More
- January 29, 2007 | Item | E-mail
American Stock Exchange Lists the Common Stock of Endeavour Silver Corp. - "We proudly welcome Endeavour Silver Corp. to the American Stock Exchange," said John McGonegal, Senior Vice President of Amex's equities group. "Many resource companies have chosen to list at the Amex, and we are pleased that Endeavour Silver is the latest company to recognize our expanding presence in this important sector." More
- January 29, 2007 | Item | E-mail
Refiling of 2005 MD&A and Certificates - More
- January 29, 2007 | Item | E-mail
Nuinsco Shareholders Overwhelmingly Approve Creation of Victory Nickel Inc. - More
- January 29, 2007 | Item | E-mail
Caledonia's New Director Liverant - More
- January 29, 2007 | Item | E-mail
Asia Gold Corp.: Trench Results Continue to Expand the Kaputusan Porphyry Copper-Gold Prospect Bacan Island, Maluku, Indonesia - More
- January 29, 2007 | Item | E-mail
SIRIOS RESOURCES INC.: Two New High-Grade Gold Showings Discovered Cheechoo Gold Project, James Bay, Quebec - More
- January 29, 2007 | Item | E-mail
Pediment Exploration Ltd.: Inmet Ratifies Caborca Agreement and Approves Phase I Work to Begin Immediately - More
- January 29, 2007 | Item | E-mail
Golden Valley Mines Ltd.: Two New High-Grade Gold Showings Discovered - More
- January 29, 2007 | Item | E-mail
Golden Peaks Resources Ltd. - La Fortuna Update - More
- January 29, 2007 | Item | E-mail
Métanor starts refurbishing its Bachelor Lake Gold Mill - More
- January 29, 2007 | Item | E-mail
Timberline Expands Land Position At East Camp Douglas Gold Project - More
- January 29, 2007 | Item | E-mail
Candorado Operating Company Ltd acquires Sommer and King properties in the south central part of Quesnel Trough, British Columbia - More
- January 29, 2007 | Item | E-mail
Sunridge Announces Independent Resource Estimate for Debarwa & Adi Nefas VMS Deposits, Asmara Project, Eritrea - More
- January 29, 2007 | Item | E-mail
Oriental Minerals Adds VP Exploration, New Independent Director - More
- January 29, 2007 | Item | E-mail
Pearl Asian Mining Industries to Start Diamond Core Drilling on Binasan Gold Project-Operation Cagayan De Oro - More
- January 29, 2007 | Item | E-mail
Maestro Commences Drilling at Caldera, Nevada - More
- January 29, 2007 | Item | E-mail
Eagle Plains Announces Metals Discovery in Mackenzie Mountains, NWT - More
- January 29, 2007 | Item | E-mail
EURO Ressources S.A. Work Stoppage at Rosebel Mine - More
- January 29, 2007 | Item | E-mail
Geophysical Program Commences, Diamond Drill Program to Begin on South Bay Copper-Zinc Project, NW Ontario - More
- January 29, 2007 | Item | E-mail
Update on Development Agreement for Moto Gold Project - More
- January 29, 2007 | Item | E-mail
Andina Options Valeriano Gold Project in Chile - More
- January 29, 2007 | Item | E-mail
Raven Gold Corp. Announces a New Senior Advisor - More
- January 29, 2007 | Item | E-mail
Searchlight Minerals Corp. announces results of metallurgical testing on Searchlight gold project - More
- January 29, 2007 | Item | E-mail
Hemisphere Gold Inc. Commences Trading - More
- January 29, 2007 | Item | E-mail
Romarco Targets Strong Mineralized System - More
- January 29, 2007 | Item | E-mail
Western Copper Corp.; Carmacks Copper Project: No. 1 Zone Resource Confirmed as NI 43-101 Compliant - More
- January 29, 2007 | Item | E-mail
Dumont prepares Carlin style gold target for Spring drilling, Rattler Project, Utah - More
- January 29, 2007 | Item | E-mail
Little Squaw Applauds Settlement of Chandalar Road Access Issue - More
- January 29, 2007 | Item | E-mail
Scorpio Completes Caribou Gold Deposit Model and Resource Estimate - More
- January 29, 2007 | Item | E-mail
Redcorp Announces Redfern's Tulsequah Project Feasibility Study Results - More
- January 29, 2007 | Item | E-mail
Melkior-Santoy Joint Venture Acquires Marc-Andre Uranium Occurrence, Otish Mountains, Quebec - More
- January 29, 2007 | Item | E-mail
Platinum Group Metals and Other Precious Metals Discovered On Sierra Gold Corporation's Property - More
- January 29, 2007 | Item | E-mail
Silverado Gold Mines Ltd. - Nolan Lode gold and antimony exploration update - More
- January 29, 2007 | Item | E-mail
Mega and Red Hill to Commence 2007 Mongolian Uranium Exploration Programs - More
- January 29, 2007 | Item | E-mail
Purepoint Uranium Group Inc: Loewen, Ondaatje, McCutcheon Limited Issue Initiating Report - More
- January 29, 2007 | Item | E-mail
Silver Spruce Resources Inc.-Executes Letter of Intent to Purchase 100% Interest in Gold Property in Mexico - More
- January 29, 2007 | Item | E-mail
Triex Minerals Corporation: Pasfield Lake Exploration Advances Towards Drilling, Eastern Athabasca Basin, Saskatchewan - More
- January 29, 2007 | Item | E-mail
Russell Industries Reserve Update - More
- January 29, 2007 | Item | E-mail
Alberta Star Intersects 5.0 Metres (16.5 Feet) of High Grade Uranium (0.22% U308) at Eldorado in Canada's Northwest Territories - More
- January 29, 2007 | Item | E-mail
Santoy-Melkior Joint Venture Acquires Marc-Andre Uranium Occurrence, Otish Mountains, Quebec - More
- January 29, 2007 | Item | E-mail
Red Hill & Mega Uranium to Commence 2007 Mongolian Uranium Exploration Programs - More
- January 29, 2007 | Item | E-mail
Globex, Inc. Announces Progress in Acquisition of 222 Uranium Mining Claims in Northern Quebec - More
- January 29, 2007 | Item | E-mail
Cash Minerals to Acquire Majority Interest in Highly Prospective Uranium Property, Central Mineral Belt, Labrador - More
- January 29, 2007 | Item | E-mail
Exeter Rings the Opening Bell on the American Stock Exchange - "The Amex listing has been a significant milestone in our corporate growth. The listing has provided a far more convenient trading market for U.S. investors, and has significantly enhanced our visibility within the U.S. investment community. Amex trading now accounts for half of our total trading volume." More
- January 29, 2007 | Item | E-mail
Rubicon to Ramp Up Drilling and to Assess Viability of Underground Exploration at the Phoenix Gold Project in Red Lake, Ontario - "Rubicon Minerals Corporation (Toronto Future:RMX.TO - News)(AMEX:RBY - News) is pleased to announce that it will undertake an expansion of exploration programs at its 100% controlled Phoenix Gold Project in Red Lake, Ontario. This expansion includes an increase in surface drilling to include testing deep footwall targets and an evaluation of commencing exploration from underground." More
- January 29, 2007 | Item | E-mail
Gammon Lake Announces New Drill Results from 2006 Exploration Program at the El Cubo - Las Torres Mine Complex - "Gammon Lake Resources Inc. ("Gammon Lake") (TSX:GAM and AMEX:GRS) is pleased to announce new results from continued exploration drilling at the El Cubo - Las Torres Mine Complex in Guanajuato, Mexico. Multiple high grade intervals encountered during exploration drilling on the La Loca Vein and on the newly discovered Vein Ciento Setenta Ocho are of particular significance. The 115 new drill holes completed at El Cubo produced 62 intervals above a 3.0 gram per tonne underground cut off grade. The data collected from this exploration drilling will be compiled to further expand the current resources and reserves at El Cubo." More
- January 29, 2007 | Item | E-mail
Glencairn Gold Announces $2.5 Million 2007 Exploration Program in Nicaragua - "Glencairn Gold Corp. (Toronto Future:GGG.TO - News)(Toronto Future:GGG-WT.TO - News)(AMEX:GLE - News) announced today that it has initiated a CDN$2.5 million exploration program at its Nicaraguan gold properties. The program will focus on the Limon Mine and the Mestiza Project as well as the Libertad Mine, where there has been no exploration since 1998." More
- January 29, 2007 | Item | E-mail
Drill Program Analysis Completed at Seabridge Gold's Promising Mitchell Deposit - "Final assay results from the 2006 core drill program at Seabridge Gold's new Mitchell gold-copper deposit have confirmed (i) a sizeable mineralized zone with notable continuity, (ii) northern and eastern limits to the deposit and (iii) potential for significant expansion to the south and southwest. The Mitchell deposit is located on Seabridge's 100% owned Kerr-Sulphurets project near Stewart, British Columbia. An independent resource calculation is now in progress for the Mitchell, Kerr and Sulphurets deposits, compliant with National Instrument 43-101." More
- January 29, 2007 | Item | E-mail
Hecla Opens Vancouver Office and Appoints Two Vice Presidents - "Vancouver is widely recognized as a major mining center, and certainly a hub of exploration activity. Our strategy is to be a viable, visible partner for companies that have properties needing exploration and development. Hecla is a producing company that has developed many mines, both surface and underground, and we're ready to use that expertise in partnership with others. A Vancouver office makes it easier for potential partners to explore their future with us." More
- January 29, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 29 January, 2007 | |
