-- Posted 16 February, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $668.50 | +$1.90 | +0.27% |
Silver | $13.95 | +$0.05 | +0.87% |
XAU | 143.12 | -1.05% | +1.02% |
HUI | 347.09 | -0.78% | +2.07% |
GDM | 1110.00 | -0.82% | +1.95% |
JSE Gold | 2808.55 | -0.62% | -0.51% |
USD | 84.07 | +0.05 | -0.96% |
Euro | 131.34 | -0.01 | +0.93% |
Yen | 83.87 | +0.18 | +1.97% |
Oil | $59.39 | +$1.40 | -0.83% |
10-Year | 4.690% | -0.016 | -1.96% |
Bond | 111.50 | +0.1875 | +0.90% |
Dow | 12767.57 | +0.02% | +1.48% |
Nasdaq | 2496.31 | -0.03% | +1.48% |
S&P | 1455.54 | -0.09% | +1.22% |
The Metals:
CoT Reports: Gold | Silver
Gold traded a couple dollars higher in after hours access trade and early Asian trade before it fell back off in late Asian, London, and early New York trade to as low as $662.20 a little before 9AM EST, but it then rallied higher for the rest of the day and ended with a gain of 0.29%. Silver dropped to $13.79 before it also rallied higher into the close and ended with a gain of 0.36%.
Euro gold remained just under €510, platinum lost $6 to $1,202, palladium lost $1 to $337, and copper remained at about $2.60.
Gold and silver equities fell about 1% at the open and then rebounded a bit in early afternoon trade, but they then fell back off into the close and ended with about 1% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Housing Starts | Jan | 1,408,000 | 1,600,000 | 1,643,000 |
Building Permits | Jan | 1,568,000 | 1,590,000 | 1,613,000 |
PPI | Jan | -0.6% | -0.6% | 0.9% |
Core PPI | Jan | 0.2% | 0.2% | 0.2% |
Michigan Sentiment | Feb | 93.3 | 96.5 | 96.9 |
Housing Starts fell 14.3% to the lowest since August 1997.
All of this week’s economic reports:
Next week’s economic highlights include CPI, Leading Economic Indicators, and FOMC minutes on Wednesday, and Initial Jobless Claims and the Help-Wanted Index on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose as OPEC said that about 66% of its member nations are complying with cuts and Nigerian militants threatened to expand their activities and further disrupt production.
The U.S. dollar index held near unchanged despite poor economic data as traders squared positions after the largest weekly drop in two months.
Treasuries again rose on poor economic data, but gains were limited after impressive moves higher the past two days.
The Dow, Nasdaq, and S&P traded modestly lower for most of trade on worries over the housing market, but all three indices rallied higher in late trade and ended mixed and near unchanged on optimism over interest rates.
Among the big names making news in the market Friday were Microsoft, Goodyear, Visteon, Smucker, Hormel, and Banco Bilbao and Compass Bancshares.
The Commentary:
“April Gold finished up 1.4 at 672.8, 0.2 off the high and 6 up from the low.
March Silver closed up 0.028 at 13.99. This was 0.15 up from the low and 0.05 off the high.
After some initial profit taking, weakness in the gold market seemed to pull in some fresh bargain hunting buying. However, a sharp upside extension of the early gains in the energy complex probably provided the metals with a bullish impetus. With the Dollar actually managing to close up on the session, we suspect that the currency impact was serving to hold back the market from even bigger gains. Even more impressive is the fact that the European gold market managed to close lower but yet US players were able to push gold back into positive ground in the afternoon action. However, the gold bulls have to feel somewhat disappointed given that the majority of the US reports were soft but yet the US Dollar still managed to close higher on the session.
Like the gold market, the silver market managed to throw off the early weakness and rise in sync with gold and energy prices. Considered the flow of mostly negative macro economic information from the US and the fresh quasi tightening efforts announced by the Chinese overnight, the bull camp in silver might come away from the session with a moral victory. In fact, when one considers the liquidating posture seen early in the session, the action in silver is even more impressive. Apparently the Press was playing up ongoing investment interest in the metals and that probably served to lift prices up off their lows into the long weekend.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Ecuador pays bond interest after all, prompting talk of market manipulation
Freeport will end Phelps Dodge's hedging of copper
The Statistics:
As of close of business: 2/15/2007
Gold Warehouse Stocks: | 7,487,582 | - |
Silver Warehouse Stocks: | 115,738,970 | +300,995 |
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 | 475.76 | 15,296,086 | US$ 10,166m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.08 | 2,799,757 | US$ 1,874m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.08 | 355,803 | US$ 238m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.24 | 329,326 | US$ 218m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 2/15/2007 | |
Total Net Assets | $936,517,687 | 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 2/15/2007 | |
Total Net Assets | $1,747,589,408 | 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:
DRDGOLD’s (DROOY) worker strike, Randgold’s (GOLD) dividend, Abcourt’s (ABI.V) feasibility report, and Pan American’s (PAAS) year-end reserve and resource evaluation were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Fronteer | FRG +4.06% $12.82 |
2. Solitario | XPL +3.97% $3.93 |
3. Arizona Star | AZS+3.32% $12.45 |
LOSERS
1. Orezone | OZN -4.22% $1.59 |
2. Gold Reserve | GRZ -3.22% $5.11 |
3. Northgate | NXG -2.89% $3.69 |
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:
Jasper Mining Corporation mobilizes on to Erie Creek property - More
- February 16, 2007 | Item | E-mail
Keegan Closes $15,571,875 Non Brokered Private Placement - More
- February 16, 2007 | Item | E-mail
UraMin Inc. ("UraMin" or "the Company") - Evaluation of Strategic Options - More
- February 16, 2007 | Item | E-mail
Abcourt Mines Inc.: A Positive Feasibility Report for the Abcourt-Barvue Project has Been Received - "Abcourt Mines Inc. (TSX VENTURE:ABI - News) is pleased to announce that the NI 43-101 feasibility report prepared by Genivar Limited Partnership of Quebec City and Bumigeme Inc of Montreal on the Abcourt-Barvue project is now completed and has been filed. The authors conclude that the Abcourt-Barvue project contains an economic mineral reserve and, based on the cash flow analysis using realistic long-term metal prices, recommend to proceed with the development of a mine, apply for permit, prepare detailed engineering plans and begin the construction of an 1 800 tpd mine/mill complex and subsequently produce Ag-Au ingots and Zn-Ag concentrates for sale." More
- February 16, 2007 | Item | E-mail
Randgold Resources announces Dividend Declaration - "("Randgold Resources" or the "Company") has declared a dividend for the period ended 31 December 2006 of US$0.10 per share. The dividend payment will be made on 8 March 2007 to shareholders on the register on 16 February 2007. The ex-dividend date was 14 February 2007." More
- February 16, 2007 | Item | E-mail
Antares announces highly favourable metallurgical results for Haquira SX-EX Copper Project - More
- February 16, 2007 | Item | E-mail
DRDGOLD workers on illegal strike - "WORKERS at DRDGOLD’s Blyvooruitzicht mine are on an illegal pay strike that is reducing gold production, the firm said on Friday.
Miners launched their illegal action on Tuesday night and ignored a court order on Wednesday prohibiting it, DRDGOLD said in a statement." More
- February 16, 2007 | Item | E-mail
Cogitore acquires a major property position on the Normetal belt - More
- February 16, 2007 | Item | E-mail
Grand Pacaraima Gold Corporation Has Executed an Agreement With Regent Ventures Ltd. - More
- February 16, 2007 | Item | E-mail
Pediment Exploration Ltd.: Project Update - More
- February 16, 2007 | Item | E-mail
Drilling establishes further continuity of Bruce Channel discovery - More
- February 16, 2007 | Item | E-mail
Aurus Triples Gold Shipments - More
- February 16, 2007 | Item | E-mail
Gemini Explorations, Inc. Announces Change of Officer and Directors - More
- February 16, 2007 | Item | E-mail
Crew Gold Announces First Shipment of Ore to Nugget Pond - More
- February 16, 2007 | Item | E-mail
Crew Gold Announces LEFA Update - More
- February 16, 2007 | Item | E-mail
Fieldex Acquires Ownership of 100% of FNX Mining's Quebec Properties - More
- February 16, 2007 | Item | E-mail
Unico, Inc. Announces Additional Progress Update in Completion Phase of Reconstruction of the Mill and Processing Facility at the Deer Trail Mine - More
- February 16, 2007 | Item | E-mail
Colombia Goldfields provides update on mine purchases, resource definition and metallurgy - More
- February 16, 2007 | Item | E-mail
Western Troy JV's Panama Gold Project - More
- February 16, 2007 | Item | E-mail
Searchlight Minerals Corp. acquires 100% of Clarkdale Slag Project - More
- February 16, 2007 | Item | E-mail
Enterayon Announces Dealings on Two Properties - More
- February 16, 2007 | Item | E-mail
Mexivada discovers homestake-type gold on its Mayoko project, Republic of Congo ("ROC") - More
- February 16, 2007 | Item | E-mail
Atomic Announces $6 Million Private Placement on a Brokered and Non-Brokered Basis - More
- February 16, 2007 | Item | E-mail
UraniumCore Adds Dennis Petke to Board of Directors - More
- February 16, 2007 | Item | E-mail
Uranium Resources, Inc. Announces Intervenors Appeal NRC Decision Confirming Crownpoint, NM Project Safety - More
- February 16, 2007 | Item | E-mail
Pan American Silver Proven and Probable Reserves Up 20 Percent, 35.4 Million Ounces Added - "Pan American Silver Corp. (NasdaqGS:PAAS - News) (Toronto:PAA.TO - News) is pleased to announce the results of its 2006 year-end reserve and resource evaluation. In addition to replacing 100% of reserves mined during 2006, the Company added a further 20%, or 35.4 million ounces of silver, to its proven and probable reserves. At the Company's operating and development properties, measured and indicated resources increased 12.1 million ounces, while inferred resources grew by 9.9 million ounces." More
- February 16, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 16 February, 2007 | |
