-- Posted 30 January, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $644.10 | +$1.50 |
Silver | $13.28 | +$0.14 |
XAU | 138.00 | +0.26% |
HUI | 329.59 | +0.31% |
GDM | 1058.32 | +0.58% |
JSE Gold | 2736.71 | -1.32% |
USD | 85.00 | -0.12 |
Euro | 129.62 | +0.08 |
Yen | 82.23 | +0.23 |
Oil | $56.97 | +$2.96 |
10-Year | 4.875% | -0.017 |
T-Bond | 109.50 | +0.09375 |
Dow | 12523.31 | +0.26% |
Nasdaq | 2448.64 | +0.31% |
S&P | 1428.82 | +0.58% |
The Metals:
Gold traded near unchanged in Asia, rose a couple dollars in London, remained near its highs in New York, and closed with a gain of 0.23%. Silver dropped to about $13.05 in late Asian/early London trade, but it then rose throughout most of the rest of trade in London and New York and closed with a gain of 1.07%.
Euro gold rose back near €500, platinum rose $7 to $1,179, palladium fell $3 to $338, and copper rose slightly to about $2.54.
Gold and silver equities rose over 1% in morning trade, remained near their highs in afternoon trade, and closed with near 1.5% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Consumer Confidence | Jan | 110.3 | 110.0 | 110.0 |
Tomorrow at 8:30AM EST brings the advanced reading for fourth quarter GDP expected at 3.0%, the Chain Deflator expected at 1.6%, and the Employment Cost Index expected at 1.0%. At 9:45 is Chicago PMI for January expected at 52.0, at 10:00 is Construction Spending for December expected at 0.0%, and at 2:15PM is the FOMC policy statement.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose over 5% and natural gas rose over 10% on cold weather and more OPEC production cut rumors.
The U.S. dollar index fell and treasuries rose as traders predict the fed will announce that they will keep interests rates unchanged at 5.25% tomorrow and indicate that they will keep rates unchanged at future meetings as well.
The Dow, Nasdaq, and S&P rose on mostly positive earnings reports before they pared their gains as oil rose, but they still ended modestly higher.
Among the big names making news in the market today were 3M, Motorola, P&G, UPS, and Countrywide Financial.
The Commentary:
“April Gold finished up 1.1 at 650.2, 2.3 off the high and 1 up from the low.
March Silver closed up 0.125 at 13.375. This was 0.125 up from the low and 0.065 off the high.
If the gold bulls were looking for help from the energy complex they certainly seemed to get that help on Tuesday. However, in order to translate the energy market action from a periodic negative into a persistent positive might require a solidification of the recent gains in oil prices. It is also possible that the gold market is beginning to see the weakness in the Dollar as more supportive, as the March Dollar Index at times on Tuesday was 75 points below the high from last week. However, the bull camp couldn't have been that happy with the flow of scheduled US economic data as the Consumer Confidence headline reading was actually below the median market expected gain of 1 point. However, the gold market also saw more evidence of additional gold ETF launches and it is likely that the sharply higher oil price reaction served to rekindle some flight to quality interest in the gold market.
While the March silver contract did manage to forge an initial lower low for the move on Tuesday morning, the market seemed to reject the slide rather convincingly. After some Brokerage house up grades of various silver mining concerns, the price action in the futures seems to have benefited from an overall improvement in the silver environment. In fact, with higher oil prices and general optimism toward silver mining shares, one might suggest that the bull camp has more than a single fundamental theme working in its favor.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Ted Butler: Buyer beware
Falling yen sparks carry trade alert
Hedge-fund hardball: How Amaranth was devoured by its banker, MorganChase
Ron Struthers: New commodities index is a lie
David Bond reports on Vancouver conference, pro-gold speech by RBC's Fell
The Statistics:
As of close of business: 1/29/2007
Gold Warehouse Stocks: | 7,431,355 | -31,871 |
Silver Warehouse Stocks: | 113,958,020 | -280,079 |
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$ 9,332m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 86.48 | 2,780,285 | US$ 1,798m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 10.67 | 342,718 | US$ 222m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.25 | 329,387 | US$ 212m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 1/29/2007 | |
Total Net Assets | $902,718,856 | 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 1/29/2007 | |
Total Net Assets | $1,537,884,312 | 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) fourth quarter activity report, Rio Narcea’s (RNO) fourth quarter results, Tanzanian Royalty’s (TRE) option agreement, DRDGOLD’s (DROOY) U.S. listing, Rio Tinto’s (RTP) investment in Northern Dynasty (NAK), Bema’s (BGO) Extraordinary General Meeting, Great Basin’s (GBN) resource update, Bear Creek’s (BCM.V) warrants exercised, Oremex’s (ORM.V) operations update, Strategic Nevada’s (SNS.V) board appointment, UC Resources’ (UC.V) commencement of production, Endeavour’s (EXK) new appointments, Abcourt’s (ABI.V) new water treatment plant and director, and Fury’s (FUR.V) mill evaluation were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Claude Resources | CGR +5.97% $1.42 |
2. Seabridge | SA +5.69% $11.88 |
3. Lihir Gold | LIHR +4.73% $24.34 |
LOSERS
1. Endeavour Silver | EXK -3.61% $4.00 |
2. Minco Mining | MMK -2.82% $1.38 |
3. US Gold | UXG -2.51% $4.67 |
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:
Osisko Reports New Drill Results from Canadian Malartic - More
- January 30, 2007 | Item | E-mail
Hawk Closes Second Tranche of Financing - More
- January 30, 2007 | Item | E-mail
Soltoro Completes $650,000 Private Placement - More
- January 30, 2007 | Item | E-mail
CDN$6,955,000 million received through warrant exercise: proceeds to fund continued aggressive exploration in Peru - "Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to announce that further to the news release dated December 20, 2006, 2,072,210 warrants have been exercised resulting in the addition of CDN$6,955,000 to the Company's cash position. The Company is pleased to report that all of the outstanding Series D and E warrants outstanding were exercised." More
- January 30, 2007 | Item | E-mail
International Precious Metals Group Inc. to List Shares on Frankfurt Stock Exchange - More
- January 30, 2007 | Item | E-mail
Strathmore Completes LOI With $8 Million Commitment From Yellowcake Mining - More
- January 30, 2007 | Item | E-mail
Oremex Operations Update - "Oremex Resources Inc. (TSX-V: ORM - News; the "Company"), announces that it will commence drilling on its San Lucas Property 80 km north of Durango in the State of Durango, Mexico. The Company has mobilized its recently purchased drill rig to the property and engaged Tiger Drilling ("Tiger") to operate and maintain the drill rig. A director of the Company is the majority shareholder of Tiger. In addition, the Company has secured a second drill rig." More
- January 30, 2007 | Item | E-mail
Strategic Nevada Resources Corporation Announces Appointment of John Morgan Edwin Percival to Advisory Board - "Mr. Percival is an accomplished entrepreneur with more than 45 years experience in the financial markets, including 15 years as both Investment Manager and General Manager of Investments for Barclays Bank New Zealand Ltd. He has played an integral role in raising over $50 million (CAD) for resource investments over the past 5 years in both Australia and New Zealand." More
- January 30, 2007 | Item | E-mail
Denison expects big boost in uranium output - More
- January 30, 2007 | Item | E-mail
Geneva Gold Corp. Option Agreement With Petaquilla Minerals Ltd. - More
- January 30, 2007 | Item | E-mail
IAMGOLD Fourth Quarter Activity Report - "Production at all operating properties totalled 219,972 ounces of gold in the quarter. Production includes full quarter production from Sadiola and Yatela mines in Mali, Tarkwa and Damang mines in Ghana and Mupane mine in Botswana, and close to two months production from Rosebel mine in Surinam, Doyon Division and Sleeping Giant in Canada, following the acquisition of Cambior on November 8, 2006." More
- January 30, 2007 | Item | E-mail
Tribute Hires Capital Z Corp. for Investor Relations - More
- January 30, 2007 | Item | E-mail
Great West Gold, Inc. - Forward Stock Split - More
- January 30, 2007 | Item | E-mail
UC Resources Commences Silver and Gold Production in Mexico - "UC Resources Ltd. (the "Company") (CDNX:UC.V - News) is very pleased to announce that the Company has reached a significant milestone. Commencement of production has begun at the Company's La Yesca project, located in the state of Nayarit, Mexico." More
- January 30, 2007 | Item | E-mail
Rio Narcea Announces Record Fourth Quarter and Year End 2006 Production Results and Preliminary Unaudited Cash Flow - "The Company produced 3.6 million pounds of nickel and 3.9 million pounds of copper during the fourth quarter of 2006, from processing 418,600 tonnes of ore. Production for the year totalled 14.1 million pounds nickel and 14.6 million pounds of copper, from processing a total of 1,468,000 tonnes of ore. 2006 represents the first full year of commercial production at Aguablanca." More
- January 30, 2007 | Item | E-mail
Pelangio sale transaction of Detour Lake Property closing on January 31, 2007 - More
- January 30, 2007 | Item | E-mail
Alma Resources Hires SCI for Investor Relations in Europe - More
- January 30, 2007 | Item | E-mail
Firstgold Corp. Files TSXV Listing Application - More
- January 30, 2007 | Item | E-mail
Endeavour Makes Three New Appointments to Management and Operations Team - "Endeavour Silver Corp. (Toronto Future:EDR.TO - News)(EXK - News)(DBFrankfurt:EJD) announces three new appointments to its management and operations team. The addition of three senior financial and mining personnel to the Endeavour team will help facilitate the Company's growth of its silver production, reserves and resources in Mexico." More
- January 30, 2007 | Item | E-mail
Canarc Makes Two New Appointments To Senior Management Team - More
- January 30, 2007 | Item | E-mail
Gold Mine Sampling to Begin by Gaia - More
- January 30, 2007 | Item | E-mail
Axmin Trenching Extends Komahun Prospect 2.5 Km to South and Re-Initiates Drilling - More
- January 30, 2007 | Item | E-mail
Cantex Mine Development Corp. - New gold results for drilling at the Al Hariqah gold deposit, Yemen - More
- January 30, 2007 | Item | E-mail
Klondike Star Adds New Director - More
- January 30, 2007 | Item | E-mail
Bonanza style silver mineralization Intersected on Drilling on the MB Silver Property - More
- January 30, 2007 | Item | E-mail
Galantas Drills 27.42g/t Gold at Kearney and 16.36g/t Gold at Elkins - More
- January 30, 2007 | Item | E-mail
Ecstall Mining and Mantle Resources reach agreement on take-over bid - More
- January 30, 2007 | Item | E-mail
Aurus Announces First Gold Shipments for the New Year - More
- January 30, 2007 | Item | E-mail
Bonaventure Enterprises Inc.: Drilling Finds Gold Associated with Major Fault Squaw Creek Project, Nevada - More
- January 30, 2007 | Item | E-mail
Continental Arranges Cdn$20 Million Financing - More
- January 30, 2007 | Item | E-mail
Great West Gold, Inc. -- Update On Filings - More
- January 30, 2007 | Item | E-mail
Rochester Finds New Gold/Silver Vein Structures at Mina Real and Stakes Additional Ground - More
- January 30, 2007 | Item | E-mail
Drilling continues to expand higher grade gold zones - Intersections include 294m grading 1.31g/t AuEq(XX) and 318m grading 1.09g/t AuEq - More
- January 30, 2007 | Item | E-mail
Unico, Inc. Announces Continued Progress on Completion Phase of Reconstruction of Mill and Processing Facility at the Deer Trail Mine - More
- January 30, 2007 | Item | E-mail
Philex Gold Announces Commencement of Pre-Feasibility Stage of Boyongan Project - More
- January 30, 2007 | Item | E-mail
Trade Winds Reports Base Metal Property Acquisition in China - More
- January 30, 2007 | Item | E-mail
Golden China Releases December 2006 Quarterly Update Report - More
- January 30, 2007 | Item | E-mail
Franklin Mining, Bolivia SA Signs Zinc Contract - More
- January 30, 2007 | Item | E-mail
Paramount Gold Drills 683 g/t Silver Across 8.25 Meters and 296 g/t Silver Across 10.7 Meters at Their San Miguel Project, Mexico - More
- January 30, 2007 | Item | E-mail
CZM Intersects Gold and Silver in All 11 Holes of Phase 2 Drilling at TAG Property - More
- January 30, 2007 | Item | E-mail
Murgor Resources acquires eleven exploration properties from AngloGold Ashanti in Peru - More
- January 30, 2007 | Item | E-mail
683 g/t Silver Across 8.25 Meters and 296 g/t Silver Across 10.7 Meters Drilled at San Miguel Project, Mexico - More
- January 30, 2007 | Item | E-mail
Quarterly Activities Report To Australian Stock Exchange Limited For the Fourth Quarter Ended December 31, 2006 - More
- January 30, 2007 | Item | E-mail
Globex Mining Enterprises Inc.: Ore Definition, Stripping and Drilling at Lyndhurst Copper-Silica Zone - More
- January 30, 2007 | Item | E-mail
Tanzanian Royalty Concludes Agreement with UK-Based Company For Luhala and Itetemia Gold Projects - "Under the option agreement, Tanzanian Royalty has granted Sloane the right to earn a beneficial interest ranging from 90 to 100% in ten prospecting licenses in the Lake Victoria greenstone belt of Tanzania. Six of these licenses comprise the 76 square kilometres Luhala Project (all 100%) while the remaining licenses constitute the 46 square kilometres Itetemia Project (all 90%) which is adjacent to Barrick's Bulyanhula gold mine." More
- January 30, 2007 | Item | E-mail
DRDGOLD says not in danger of losing U.S. listing - "South African gold miner DRDGOLD (DRDJ.J: Quote, Profile , Research) has received a warning from the U.S. Nasdaq exchange because its stock there is trading below $1, the firm said on Tuesday. But the company was not in danger of losing that key listing because there were technical ways of increasing the value of the U.S. shares, such as making it worth more than one South Africa share, a spokesman told Reuters." More
- January 30, 2007 | Item | E-mail
Abcourt Mines Inc.: Purchase of a Water Treatment Plant, Appointment of Mr. Jacques Levesque, C.A., as a Director - "Abcourt Mines Inc. (TSX VENTURE:ABI - News) is pleased to announce that it has purchased a used water treatment plant from a former producer in the area. This plant will be moved and re-installed on our mine site as soon as possible in the coming spring and it will enable us to start de-watering the Abcourt-Barvue pit as soon as we get permits." More
- January 30, 2007 | Item | E-mail
Hathor Outlines EM Conductors at Vedette Lake Uranium Project, Athabasca Basin - More
- January 30, 2007 | Item | E-mail
Appalaches Resources Inc.: $2 Million Option for Mont-de-l'Aigle Property - More
- January 30, 2007 | Item | E-mail
Energy Fuels Provides Update on Financial Statement Filings - More
- January 30, 2007 | Item | E-mail
Pitchstone Exploration Ltd.: 2007 Hornby Bay Exploration Program - More
- January 30, 2007 | Item | E-mail
Triex Minerals Corporation: 2007 Hornby Bay Exploration Program - More
- January 30, 2007 | Item | E-mail
Crosshair Exploration & Mining Corp.: Report on 2006 Uranium Drilling Results from C Zone - More
- January 30, 2007 | Item | E-mail
Silver Spruce Resources Inc. and Universal Uranium Ltd.: Wide Zone of Uranium Mineralization Discovered at Two Time Zone - More
- January 30, 2007 | Item | E-mail
Wide Zone of Uranium Mineralization Discovered at Two Time Zone - More
- January 30, 2007 | Item | E-mail
Uranium One Provides Update on Operations, Organic Growth Initiatives and Announces Changes to Management - More
- January 30, 2007 | Item | E-mail
Thelon Ventures Ltd.: 4,000 Meter Drill Program to Commence on Pasfield Lake Uranium Project - More
- January 30, 2007 | Item | E-mail
Denison Announces Operations Update - More
- January 30, 2007 | Item | E-mail
Cash Minerals Invited to Present on Wernecke Uranium District at Mineral Exploration Roundup 2007 - More
- January 30, 2007 | Item | E-mail
U.S. Energy Corp. and Crested Corp. Appoint New Directors and General Counsel and Secretary - "U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News) d/b/a USECC announced that on January 23, 2007, the boards of directors of U.S. Energy Corp. ("USE") and Crested Corp. ("Crested") elected one new director each and appointed a new General Counsel and Secretary" More
- January 30, 2007 | Item | E-mail
U.S. Energy Corp. and Crested Corp. Boards of Directors Approve and Execute Merger Agreement; Definitive Documents and Proxy/Prospectus to Be Prepared - "U.S. Energy Corp. (Nasdaq: USEG - News) and Crested Corp. (OTC Bulletin Board: CBAG - News) d/b/a USECC announced that on January 23, 2007, the boards of directors of U.S. Energy Corp. ("USE") and Crested Corp. ("Crested") approved and executed a Merger Agreement where Crested would merge into USE, by means of an offer to acquire the minority shares of Crested, based on an exchange ratio of one share of common stock of USE for every two shares of Crested common stock not held by USE (which owns 71% of the Crested common stock)." More
- January 30, 2007 | Item | E-mail
Fury Receives Taylor Mill Evaluation - "The budget associated with rehabilitating the Taylor Mill is very encouraging, as it indicates the potential for Fury to attain silver production while incurring minimal capital costs," remarked Fury's President, Steve Vanry. "The study also confirms the Company's initial assessment that the mill is in good condition and was carefully decommissioned prior to being placed on a care and maintenance basis." More
- January 30, 2007 | Item | E-mail
Rio Tinto Increases Investment in Northern Dynasty to Near Legal Agreement Threshold - "Northern Dynasty Minerals Ltd. ("Northern Dynasty" or the "Company") (CDNX:NDM.V - News)(AMEX:NAK - News) announces that it has been advised by Galahad Gold plc ("Galahad") that QIT-Fer Et Titane Inc., an affiliate of Rio Tinto plc, has agreed to purchase 9.4 million common shares of Northern Dynasty from Galahad at a price of $10 per share. The share purchase is expected to close on February 1, 2007 and will increase Rio Tinto's indirect ownership in Northern Dynasty to approximately 19.79%." More
- January 30, 2007 | Item | E-mail
Bema's Extraordinary General Meeting - "At the Meeting, shareholders will vote on the proposed business combination between Bema and Kinross Gold Corporation which was announced on November 6, 2006. This will be followed by a presentation to shareholders by Bema President, CEO, and Chairman, Clive Johnson." More
- January 30, 2007 | Item | E-mail
Ongoing Exploration Increases Resources at Great Basin Gold's Burnstone Project - "An initial program designed to upgrade and expand the mineral resources in Area 1 and Area 2 is nearing completion. Results from 8 of 15 drill holes have been incorporated into the resource model and new estimates of the mineral resources are tabulated below. The grades as well as the tonnes have increased in all categories. As a result, at the cut-off grade of 400 cmg/t gold (the equivalent of 4 g/t over 1 meter) highlighted below, 582,000 ounces of gold have been added to the total measured and indicated resources (an increase of 8%) and 219,000 ounces have been added to the inferred resources (an increase of 54%)." More
- January 30, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 30 January, 2007 | |
