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-- Posted 16 March, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week | Gold | $652.20 | +$5.90 | +0.31% | Silver | $13.10 | +$0.15 | +2.18% | XAU | 133.31 | +0.58% | +0.97% | HUI | 327.01 | +0.29% | -0.37% | GDM | 1045.82 | +0.68% | +0.97% | JSE Gold | 2835.57 | +1.64% | +2.82% | USD | 83.21 | -0.44 | -1.23% | Euro | 133.12 | +0.78 | +1.52% | Yen | 85.68 | +0.67 | +1.19% | Oil | $57.11 | -$0.44 | -4.90% | 10-Year | 4.545% | +0.009 | -0.96% | Bond | 112.875 | -0.0625 | +0.33% | Dow | 12110.41 | -0.41% | -1.35% | Nasdaq | 2372.66 | -0.25% | -0.62% | S&P | 1386.95 | -0.38% | -1.13% |
The Metals: CoT Reports: Gold | Silver  Gold remained near unchanged in Asia, rose about $5 to over $650 in London, and rose to about $655 in late morning New York trade before it fell back off a bit into the close, but it still ended with a gain of 0.91%. Silver rose to $13.15 in late morning New York trade before it also fell off a bit, but it was able to outpace gold’s gains and added 1.16% at the close.
Euro gold rose to about €490, platinum gained $7 to $1,218, palladium gained $2 to $348, and copper roes over 4 cents to about $3.02. Gold and silver equities rose over 2% at the open before they fell off with the major indices and dropped near unchanged by mid-afternoon, but they then rallied back higher into the close and ended with about 0.5% gains. The Economy: Report | For | Reading | Expected | Previous | CPI | Feb | 0.4% | 0.3% | 0.2% | Core CPI | Feb | 0.2% | 0.2% | 0.3% | Industrial Production | Feb | 1.0% | 0.3% | -0.3% | Capacity Utilization | Feb | 82.0% | 81.3% | 81.4% | Michigan Sentiment | Mar | 88.8 | 89.0 | 91.3 |
All of this week’s economic reports:
Next week’s economic highlights include Building Permits and Housing Starts on Tuesday, a FOMC policy statement on Wednesday, Initial Jobless Claims and Leading Economic Indicators on Thursday, and Existing Home sales on Friday.
The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell on worries about the economy and its impact on demand as traders also sold the front-month contract heading into its expiration next week. The U.S. dollar index fell on weak Michigan Sentiment data and worries over subprime mortgages as traders speculated weak economic signals will offset recent increased inflationary readings and influence the fed to keep interest rates unchanged at their meeting next week. Treasuries fell as stronger than expected CPI and Industrial Production data pushed interest rates up, but losses were limited as the stock markets fell and encouraged some safe haven buying in bonds. The Dow, Nasdaq, and S&P fell on mostly disappointing economic data as increased inflationary signals added to worries over the economy. Among the big names making news in the market Friday were Bally, Wal-Mart, Caremark and CVS, JetBlue, Ghosn, Accredited, and Carnival. The Commentary:  “April Gold finished up 6.8 at 653.9, 2.6 off the high and 2.9 up from the low.
May Silver closed up 0.14 at 13.215. This was 0.145 up from the low and 0.045 off the high. With the Dollar falling sharply it is possible that the gold trade is shifting its focus toward the currency markets and perhaps away from the ebb and flow of equity prices. In the end the metals markets come away from the week with revived inflationary concerns and perhaps a slight deterioration in expectations for the US economy. However, in the absence of distinct evidence of growth or slowing from the scheduled numbers, the gold market is still expected to garner a large measure of guidance from the equity market. On the other hand, many gold traders on Friday suggested that a downside extension in energy prices could countervail the benefit that gold could be set to garner from persistent declines in the Dollar. With the May silver contract managing to reach the highest level since March 2nd, it is likely that the market was seeing fresh short covering buying and perhaps even fresh outright speculative buying. Surprisingly the profit taking mentality in the copper market wasn't overly limiting to silver and that would suggest that silver is mostly tracking financial type themes instead of physical commodity market themes. However, the copper market did manage to reject the early weakness and then managed to rise to another new high and that should have emboldened the bull camp.”- The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
China says investment plans won't affect its dollar assets Keeping housing prices up solves subprime problem, Greenspan says The Statistics: As of close of business: 3/15/2007 Gold Warehouse Stocks: | 7,546,010 | - | Silver Warehouse Stocks: | 119672777 | + 601376 |
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 | 476.84 | 15,331,027 | US$ 9,940m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.99 | 2,828,885 | US$ 1,845m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.30 | 362,890 | US$ 237m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.10 | 356,960 | US$ 231m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 3/15/2007 | | Total Net Assets | $918,725,752 | Ounces of Gold
in Trust | 1,423,071.777 | Shares Outstanding | 14,350,000 | Tonnes of Gold
in Trust | 44.26 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 3/15/2007 | | Total Net Assets | $1,663,310,974 | Ounces of Silver
in Trust | 128,965,697.300 | Shares Outstanding | 12,950,000 | Tonnes of Silver
in Trust | 4,011.28 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Barrick’s (ABX) dismissal of a rumored Newmont (NEM) bid, Canyon’s (CAU) drill results, Richmont’s (RIC) GAAP Reconciliation Note, U.S. Gold’s (UXG) shareholder acquisition plan approvals, Palmarejo’s (PJO.V) drill results, and Apex Silver’s (SIL) extended delay of 2006 results were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Gold Reserve | GRZ +6.18% $4.47 | 2. Cardero | CDY +6.06% $2.10 | 3. Crystallex | KRY +4.38% $3.10 |
LOSERS 1. Minco Gold | MGH -4.58% $1.46 | 2. Northern Orion | NTO -1.90% $4.14 | 3. Golden Star | GSS -1.81% $3.80 |
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: Uranium Hunter Corporate Update - More
- March 16, 2007 | Item | E-mail
Gossan Options New Magnesium Production Process - More
- March 16, 2007 | Item | E-mail
Grandview Gold Inc. Closes $1.46 Million Private Placement - More
- March 16, 2007 | Item | E-mail
Goldcliff Discovers 0.0321% Uranium - More
- March 16, 2007 | Item | E-mail
Pro-Spect-Or Resources Announces Enhancement to its IR Team and Re-Pricing of its Previously Announced Options Distribution - More
- March 16, 2007 | Item | E-mail
Northern Peru Clarifies Results of Preliminary Economic Assessment on Galeno Copper Deposit and Amends Continuous Disclosure Documents - More
- March 16, 2007 | Item | E-mail
Anatolia Confirms Rio Tinto Sale of Shares - More
- March 16, 2007 | Item | E-mail
Paladin Resources Ltd.: Kayelekera Technical Report Filed Certain Summit Bid Conditions Satisfied - More
- March 16, 2007 | Item | E-mail
Barrick Gold dismisses chatter of Newmont bid - "Barrick Gold Corp. (ABX.TO: Quote, Profile , Research) (ABX.N: Quote, Profile , Research), the world's biggest gold producer, shot down a recent report in BusinessWeek magazine on Friday that suggested it may make a bid for Newmont Mining Corp. (NEM.N: Quote, Profile , Research).
"It's just another tidbit of idle speculation," said Vince Borg, a spokesman for Barrick. "Unsubstantiated, no sources."
The report, citing "some pros", said Barrick would go after Newmont, the world's No. 2 gold producer, for its proven and probable reserves of about 95 million ounces of gold." More
- March 16, 2007 | Item | E-mail
ITH Signs Option Agreements to Earn Interests in Two Gold Projects in Nevada - More
- March 16, 2007 | Item | E-mail
Lundin Mining Makes Further Investment in Mantle Resources Inc. - More
- March 16, 2007 | Item | E-mail
MacDonald Mines Exploration Ltd. Announces Private Placement of Flow-Through Units with the MineralFields Group - More
- March 16, 2007 | Item | E-mail
SearchGold Updates Shareholders at Stuttgart's Invest 2007 Conference in Germany - More
- March 16, 2007 | Item | E-mail
Augusta Resource Corporation: Rosemont Resource Increases to 10.3 Billion Pounds Copper Equivalent-New 75 Million Ounces Contained Silver - More
- March 16, 2007 | Item | E-mail
Colombia Goldfields strengthens its Board of Directors - More
- March 16, 2007 | Item | E-mail
Idaho General Mines, Inc. - Announces Favorable Federal Agency Action on Federal Mineral Lease Application - More
- March 16, 2007 | Item | E-mail
Exploratory Drilling Program to Commence on the Santos Gold Property in Peru - More
- March 16, 2007 | Item | E-mail
Uranium Resources, Inc. Increases New Mexico Assets - More
- March 16, 2007 | Item | E-mail
Paladin Resources Ltd.: Langer Heinrich Mine Officially Opened - More
- March 16, 2007 | Item | E-mail
Palmarejo Silver and Gold Announces Further High Grade Drill Results from the Guadalupe Project - "The Guadalupe project consists of a series of northeast dipping quartz veins that have been traced for more than 1,500 metres along strike. There are three main prospects located along the Guadalupe structure known from north to south as Guadalupe Norte, Guadalupe and Las Animas." More
- March 16, 2007 | Item | E-mail
Canyon Discovers Additional Gold Mineralization at Its Briggs Mine - "Canyon Resources Corporation (Amex: CAU - News), a Colorado-based mining company, is pleased to announce the partial results of its step-out drilling along the Goldtooth fault structure at its Briggs Mine in Inyo County, California. This exciting new discovery has increased the potential for additional underground mineralization along strike on the Goldtooth fault structure. This structure is believed to be the major control for gold mineralization at Briggs." More
- March 16, 2007 | Item | E-mail
U.S. Gold shareholders overwhelmingly approve resolutions to acquire White Knight Resources, Nevada Pacific Gold & Tone Resources - "U.S. GOLD CORPORATION (AMEX: UXG - TSX: UXG) is pleased to announce that by a vote of more than 99% of the shares cast at the special meeting held on March 15, 2007, its shareholders overwhelmingly approved resolutions necessary to acquire White Knight Resources Ltd., Nevada Pacific Gold Ltd. and Tone Resources Limited." More
- March 16, 2007 | Item | E-mail
Richmont Mines Restates US GAAP Reconciliation Note - "Richmont Mines Inc. (Toronto:RIC.TO - News) (AMEX:RIC - News) announced today the restatement of its United States generally accepted accounting principles ("US GAAP") reconciliation note with respect to the presentation of exploration and development costs incurred on its East Amphi and Island Gold projects for the years ended December 31, 2005 and 2004." More
- March 16, 2007 | Item | E-mail
Apex Silver Extends Delay of 2006 Year-End Results - "Apex Silver Mines Limited (AMEX:SIL - News) today reported a further delay in the release of its 2006 year-end results. The company had previously reported in its press release dated March 2, 2007 that it had filed for a fifteen-day extension to file its annual report on Form 10-K with the Securities and Exchange Commission to allow additional time for the company to determine the fair value of its metals derivative positions using certain additional market information that it had not previously considered." More
- March 16, 2007 | Item | E-mail
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-- Posted 16 March, 2007 | |
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