-- Posted 13 February, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $663.20 | +$1.00 |
Silver | $13.85 | +$0.21 |
XAU | 142.60 | +1.81% |
HUI | 342.59 | +1.69% |
GDM | 1095.03 | +1.66% |
JSE Gold | 2831.99 | -0.77% |
USD | 84.70 | -0.42 |
Euro | 130.30 | +0.69 |
Yen | 82.48 | +0.36 |
Oil | $59.06 | +$1.25 |
10-Year | 4.814% | +0.010 |
T-Bond | 110.1875 | -0.125 |
Dow | 12654.85 | +0.81% |
Nasdaq | 2459.88 | +0.39% |
S&P | 1444.26 | +0.76% |
The Metals:
Gold initially fell slightly in Asia before it found about two dollar gains by the London open, furthered its gains in London and early New York trade and rose up to about $669 with roughly 1% gains, but it then fell off for most of the rest of the day and dropped to as low as $661.40 in early afternoon trade ahead of a small rally into the close that left it with a gain of 0.15%. Silver also rose over 1% by early New York trade before it also pulled back a bit, but it was able to stay near its highs for the rest of trade and ended with a gain of 1.54%.
Euro gold dropped slightly under €510, platinum gained $14 to $1,196, palladium gained $6 to $340, and copper rose over 10 cents to about $2.53.
Gold and silver equities rose nearly 2% at the open and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Trade Balance | Dec | -$61.2B | -$59.5B | -$58.1B |
The overall trade deficit set a record high for 2006 for the fifth straight year.
Tomorrow at 8:30AM EST is the Retail Sales report for January expected at 0.3%. Excluding autos, sales are expected at 0.4%. At 10AM is the Business Inventories report for December expected at 0.1% and the start of Bernanke’s testimony before the Senate Banking Committee.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on cold weather in much of the U.S., an IEA report showing higher demand, and news of a fire at a Valero facility.
The U.S. dollar index fell on the larger than expected trade deficit and on strong eurozone growth that strengthened the euro.
Treasuries initially rose on the larger than expected trade deficit, but they then fell back off and ended slightly lower on expectations for Bernanke to push interest rates higher by speaking of strong economic growth and inflation worries tomorrow.
The Dow, Nasdaq, and S&P rose markedly on takeover speculation.
Among the big names making news in the market today were BHP Billiton and Alcoa, Coca-Cola, Nasdaq, Blackstone, CVS and Caremark, and Marsh & McClennan.
The Commentary:
“Where do we go from here? The gold open interest is way up there, yet there is no reason it can’t rise to 500,000 contracts. The last time it was this high, The Gold Cartel launched a raid that set gold back for 2/3 of a year, taking it down about $160 per ounce off its highs. With gold on the move, they are digging in their heels once more.
The key, as is so often the case, is the cash market. Clearly, The Gold Cartel crew is trying to buy time to come up with enough physical gold to bomb the market and turn the specs into sellers. Should they come up with the gold, they probably will win another battle. However, they have gone through a great deal of the gold they had available last May. They are scraping the bottom of the barrel, as evidenced by their IMF growlings and lack of ECB group selling of gold. In addition, demand for gold is really on the upswing. It is significant that more and more central banks are adding to their holdings.
The lack of ECB group central bank gold selling has the bad guys in a twit. Demand for bullion is far greater than mine and scrap supply. The price of gold WILL EXPLODE. It is only a matter of time … so remember:
GATA BE IN IT TO WIN IT!” - From yesterday’s Midas report by Bill Murphy of LemetropoleCafe.com
“April Gold finished up 1.2 at 668.5, 5.2 off the high and 2.7 up from the low.
March Silver closed up 0.2 at 13.915. This was 0.075 up from the low and 0.085 off the high.
While gold ended up closing higher on the day, one would have thought it would have had a stronger reaction to the weak Dollar and higher crude oil prices. The US dollar was under pressure from stronger than expected Eurozone growth data, which showed 4th quarter growth at 0.9 percent, and from the US Trade Deficit data, which showed an increase of almost 2 billion above expectations. Crude oil prices were up on a refinery fire in Delaware and a report from the International Energy Agency indicating stronger crude oil demand in 2007 than they previously forecasted. In the end, the Dollar managed to hold last week's lows, which may have kept the reins in on gold.
The silver market closed higher on the day, possibly gaining support from a sharply higher copper market in addition to strength thin crude oil and the weakness in the Dollar. March silver traded to its highest level since mid December but failed to move above round number resistance at $14.00. With March copper's high over 22 cents above the recent lows, one could get the impression that the outlook for base and physical metals has improved significantly, which could spill over into silver.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Russia entices Qatar for natural gas cartel
The Statistics:
As of close of business: 2/12/2007
Gold Warehouse Stocks: | 7,487,683 | - |
Silver Warehouse Stocks: | 115,437,975 | +599,378 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 466.20 | 14,988,824 | US$ 9,960m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.08 | 2,799,850 | US$ 1,861m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.08 | 355,814 | US$ 237m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.24 | 329,337 | US$ 218m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE added 4.62 tonnes.
COMEX Gold Trust (IAU)
Profile as of 2/12/2007 | |
Total Net Assets | $929,951,103 | Ounces of Gold
in Trust | 1,403,670.518 |
Shares Outstanding | 14,150,000 | Tonnes of Gold
in Trust | 43.66 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 2/12/2007 | |
Total Net Assets | $1,722,654,346 | Ounces of Silver
in Trust | 125,030,899.100 |
Shares Outstanding | 12,550,000 | Tonnes of Silver
in Trust | 3,888.90 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
AngloGold’s (AU) earnings, Meridian Gold’s (MDG) technical report, Tanzanian Royalty’s (TRE) private placement, IAMGOLD’s (IAG) approved sale, Golden Star’s (GSS) warrant expiration, and Sterling Mining’s (SRLM.OB) marketing manager were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Richmont | RIC +7.20% $2.68 |
2. Northern Orion | NTO +6.72% $3.81 |
3. Fronteer | FRG+6.24% $12.42 |
LOSERS
1. Endeavour | EXK-3.91% $4.67 |
2. Almaden | AAU-2.58% $2.27 |
3. Solitario | XPL -2.37% $3.79 |
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:
Gold Resource Corporation Engages COREVI to Commence the Permitting Process and Lyntek to Commence Engineering at the El Aguila Project, Mexico - More
- February 13, 2007 | Item | E-mail
Aura Silver Grants Stock Options - More
- February 13, 2007 | Item | E-mail
Meridian Gold files amended Technical Report for Minera Florida, Chile - "Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX:MNG - News; NYSE:MDG - News) provides a clarification and update on the completion of the NI 43-101 Technical Report for its Minera Florida mining operations located at Alhue, Chile (referred to throughout the Technical Report as Alhue). The report, dated November 25, 2006, and amended January 17, 2007, was prepared by Qualified Persons Hrayr Agnerian, M.Sc., P.Geo, and James L. Pearson, P.Eng, of Scott Wilson Roscoe Postle Associates Inc. and is available for public inspection on SEDAR (www.sedar.com)." More
- February 13, 2007 | Item | E-mail
Sterling's Marketing Manager, Monique Hayes, Joins the Board of the Idaho Mining Association - "Sterling Mining Company (OTCBB: SRLM - News) today announced that Ms. Monique Hayes, Sterling's Marketing Manager, has been appointed to the board of directors of the Idaho Mining Association. Ms. Hayes brings 15 years of experience in marketing and communications to the board, along with a rich family involvement in mining and associated industries for generations." More
- February 13, 2007 | Item | E-mail
Energy Fuels Provides Status Update - More
- February 13, 2007 | Item | E-mail
Tournigan Curraghinalt Acquisition Renegotiation - More
- February 13, 2007 | Item | E-mail
Queenston Reports McBean Drilling Results - More
- February 13, 2007 | Item | E-mail
UEX/AREVA Focus on Basement Potential at the Kianna Deposit - More
- February 13, 2007 | Item | E-mail
Copper Ridge Plans 2007 Drill Programs on Three Projects - More
- February 13, 2007 | Item | E-mail
QGX Receives Positive Metallurgical Results for Agitation Leaching of Gold and Silver Contained in Oxide at the Central Valley Zone (CVZ) - More
- February 13, 2007 | Item | E-mail
UCR Drilling Confirms Increasing Size Potential of East Target - More
- February 13, 2007 | Item | E-mail
North American Gem Inc. has Received Drilling Permits for the Louise Lake Property, British Columbia - More
- February 13, 2007 | Item | E-mail
StrataGold intersects 33 metres of 3.12 g/t gold at Black Ridge, Tassawini, Guyana - More
- February 13, 2007 | Item | E-mail
Manicouagan Minerals extends nickel/pgm discovery - channel samples return up to 2.98% nickel over 1.67 metres - 293 additional claims staked - More
- February 13, 2007 | Item | E-mail
Aurus Signs Agreement for Financing - More
- February 13, 2007 | Item | E-mail
Hecla Announces Fourth Quarter and Year-End 2006 Earnings Release and Conference Call Schedule - "Hecla Mining Company (NYSE:HL - News), a precious metals company, will hold its quarterly conference call to discuss fourth quarter and year-end 2006 results on Wednesday, February 21, 2007, at 2:00 p.m. Eastern Time (11:00 a.m. Pacific Time). Hecla will release its fourth quarter and year-end 2006 financial results on that morning." More
- February 13, 2007 | Item | E-mail
Nuinsco Prepares for Diamond Drilling Program at Prairie Lake Uranium Property - More
- February 13, 2007 | Item | E-mail
Cogitore Resources Inc. Announces Appointment of Gérald Riverin as Chief Executive Officer - More
- February 13, 2007 | Item | E-mail
Tanzanian Royalty Chairman Completes Eighth Tranche of C$3 Million Private Placement and Advances C$1,117,000 - "Tanzanian Royalty Exploration Corporation confirms that the eighth tranche of the private placement (the "Placement") by James E. Sinclair, the Company's Chairman and CEO, announced on February 1, 2007 closed on February 13, 2007. The eighth tranche consists of 56,467 common shares of the Corporation having a purchase price of $6.641 per share for proceeds totaling $375,000." More
- February 13, 2007 | Item | E-mail
Pro-Spect-Or Grants Options - More
- February 13, 2007 | Item | E-mail
Callinan Mines Limited: Drilling Underway at Fox River - More
- February 13, 2007 | Item | E-mail
UCR Drilling Confirms Increasing Size Potential of East Target - More
- February 13, 2007 | Item | E-mail
Merrex Reports Sampling Results from Birch-Uchi Project, Red Lake Gold District, Ontario - More
- February 13, 2007 | Item | E-mail
New Jersey Mining Company Secures Funding and Orders Drill Rig - More
- February 13, 2007 | Item | E-mail
Golden Odyssey Mining Reports Analytical Results From Mexican Hill Drilling, Carlin Trend, Nevada - More
- February 13, 2007 | Item | E-mail
Gold Exploration Company GAIA Resources, Inc. to Retain Legal Counsel - More
- February 13, 2007 | Item | E-mail
Galantas Arranges Loan Finance With Allied Irish Banks plc & Directors & Officers Exercise Options - More
- February 13, 2007 | Item | E-mail
Mexivada intersects 3 grams gold and 199 grams silver on its Yecora project, Mexico - More
- February 13, 2007 | Item | E-mail
ABV Gold Signs Acquisition Agreement for the Parin Mining Properties - More
- February 13, 2007 | Item | E-mail
Running Fox Acquires Four Athabaska Uranium Prospects, Previous Drilling Up to 0.42 Percent U3O8 Over 5 Feet - More
- February 13, 2007 | Item | E-mail
Tonogold Resources, Inc. Announces the Tonogold Mines Gold Project in Nye County, Nevada - More
- February 13, 2007 | Item | E-mail
Geneva Gold Corp. Provides Arbitration Notice to Petaquilla Minerals Ltd. - More
- February 13, 2007 | Item | E-mail
EXMIN Announces Acquisition of 100% Interest in Street Township Claims and Expiration of Warrants - More
- February 13, 2007 | Item | E-mail
Golden Eagle Signs Agreement for Consulting and Engineering Services with Washington Group International, Inc. - More
- February 13, 2007 | Item | E-mail
Gemini Explorations, Inc Executes Definitive Agreement to Acquire Planada Gold Project - More
- February 13, 2007 | Item | E-mail
Northwater Resources, Inc. Announces Completion of Further Staking - More
- February 13, 2007 | Item | E-mail
General Metals Corp Concludes Restricted Private Placement for $200,000 From Existing Shareholders and Readies For Phase 1 Institutional Finance Round - More
- February 13, 2007 | Item | E-mail
Midlands Minerals Reports Two Gold Trends on Kaniago-Next to Past Open Pit Gold Producers-Ghana - More
- February 13, 2007 | Item | E-mail
Franklin's Plan for Mining Operations at Cerro Rico de Potosi Presented to COMIBOL - More
- February 13, 2007 | Item | E-mail
EURO Ressources S.A. Work Stoppage at Rosebel Mine - More
- February 13, 2007 | Item | E-mail
Scorpio Hits 1.8 metres of 864.44 g/t Ag, 11.94% Zn, 1.96% Cu, 6.14% Pb and 2.09 g/t Au within 19.5 metres - More
- February 13, 2007 | Item | E-mail
Western Mining provides CDN$2,250,000 financing at $1.20 per unit - More
- February 13, 2007 | Item | E-mail
Southwestern Resources Corp.: Latest Drilling at Boka Expands the Boka 1 South Gold Deposit a Further 150 Metres - More
- February 13, 2007 | Item | E-mail
HE-5 Resources, Corp. Announces Favourable Poll Results on Plans to Commence Mining at Overman Pit - More
- February 13, 2007 | Item | E-mail
FNX Mining Announces Conference Call on 2006 Financial and Operating Results - More
- February 13, 2007 | Item | E-mail
BrazMin Completes Agua Branca Phase One Drill Program: Gold Mineralization Intersected in All Holes Drilled - More
- February 13, 2007 | Item | E-mail
Aurelio Intercepts 285 Feet Grading 1.86% Zinc, Outlining New Area of Significant Zinc Mineralization Associated with Hill Copper Project - More
- February 13, 2007 | Item | E-mail
Consolidated Gold Win Ventures Inc.: Extensive Mineralization Encountered Over Wide Area and at Depth in All 6 Holes Drilled to Date at Dolly Varden, Nevada - More
- February 13, 2007 | Item | E-mail
Aurora Delivers Resource Estimates for the Michelin and Jacques Lake Uranium Deposits, Coastal Labrador - More
- February 13, 2007 | Item | E-mail
Santoy-Melkior Joint Venture Acquires 20 Claims in Bancroft, Ontario - More
- February 13, 2007 | Item | E-mail
Globex, Inc. Announces Acquisition of Additional Uranium Mining Claims in Northern Quebec - More
- February 13, 2007 | Item | E-mail
Vena Resources Increases Targets for Uranium Project with CAMECO - More
- February 13, 2007 | Item | E-mail
Thelon Lists on Frankfurt Stock Exchange - More
- February 13, 2007 | Item | E-mail
IAMGOLD Corporation: Government Approval Granted in Bauxite Sale - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) is pleased to announce that the Government of Guyana has given its approval of the sale of IAMGOLD's interest in Omai Bauxite Mining Inc. ("OBMI") and Omai Services Inc. ("OSI") to Bosai Minerals Group Co., Ltd. ("Bosai Minerals"), pursuant to a Share Purchase agreement originally announced on December 19, 2006." More
- February 13, 2007 | Item | E-mail
Golden Star Announces That Warrants Will Expire on February 14, 2007 and Advises Procedure to Exercise Warrants - "Golden Star Resources Ltd. (AMEX:GSS - News; TSX:GSC - News) today announced that its warrants, which currently trade on the Toronto Stock Exchange under the symbol GSC.WT.A, will expire as planned at 4:30 pm Vancouver Time on February 14, 2007." More
- February 13, 2007 | Item | E-mail
AngloGold Q4 EPS falls 67 pct, shares fall - "The world's third-biggest gold producer, AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile , Research), posted a 67 percent slide in fourth-quarter adjusted earnings on Tuesday, well below analysts' expectations, hit by one-off charges." More
- February 13, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 13 February, 2007 | |
