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-- Posted 20 March, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $657.90 | +$5.10 | Silver | $13.26 | +$0.14 | XAU | 135.62 | +0.47% | HUI | 332.51 | +0.53% | GDM | 1063.56 | +0.66% | JSE Gold | 2887.68 | +0.10% | USD | 83.07 | -0.29 | Euro | 133.13 | +0.17 | Yen | 85.38 | +0.32 | Oil | $56.73 | +$0.14 | 10-Year | 4.547% | -0.024 | T-Bond | 112.78125 | +0.21875 | Dow | 12288.10 | +0.51% | Nasdaq | 2408.21 | +0.58% | S&P | 1410.94 | +0.63% |
The Metals:  Gold rose a few dollars in Asia before it fell back to about unchanged in London, but it then surged over 1% higher to over $660 a little before 9AM EST, remained around 1% higher for most of the rest of trade, and closed with a gain of 0.78%. Silver topped $13.35 a little before 9AM EST before it also fell off a bit heading into the close, but it still ended with a gain of 1.07%.
Euro gold rose to about €495, platinum gained $2 to $1,228, palladium remained unchanged at $350, and copper fell slightly to about $3.02. Gold and silver equities rose over 1% at the open, but they then fell off a bit in afternoon trade and ended with about 0.5% gains. 
The Economy: Report | For | Reading | Expected | Previous | Housing Starts | Feb | 1525K | 1445K | 1399K | Building Permits | Feb | 1532K | 1550K | 1571K |
Tomorrow at 2:15PM EST is the FOMC policy statement expected to keep the fed funds rate unchanged at 5.25%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil ended slightly higher as the April contract closed out and traders positioned themselves ahead of tomorrow’s inventory reports that are expected to show a slight build in crude inventories and slight draws in gasoline and distillate inventories. The U.S. dollar index fell as the Chinese announced plans to stop accumulating forex reserves and the Bank of Japan did not raise interest rates as some were expecting. Treasuries rose on mixed housing data, but gains were limited ahead of tomorrow’s fed announcement. The Dow, Nasdaq, and S&P steadily rose for most of trade and ended with decent gains on optimism the fed will keep interest rates steady and not indicate a possible hike in rates anytime soon. Among the big names making news in the market today were Blockbuster, Accredited, and Affiliated Computer and Cerberus. The Commentary:  “April Gold finished up 4.7 at 659, 3 off the high and 3.5 up from the low.
May Silver closed up 0.137 at 13.37. This was 0.065 up from the low and 0.11 off the high. A very impressive range up extension in April gold would seem to suggest that the bull camp is back in control of prices. Apparently the bull camp saw enough from the US numbers or saw enough macro economic confidence manifesting itself in the equity market to bid up prices. It is also clear that the Dollar was weaker despite what seemed to be an improved view toward the US economy and that means that the gold market benefited from an improving demand perspective and it also benefited from a flight to quality or currency aspect. While the European gold didn't manage to hold a new 2 week high into its close, it was clear that the US gold market added to gains in the afternoon action and that probably will end up giving European gold a lift on Wednesday morning. Apparently the metals aren't nearly as concerned about a severe slowdown and that is allowing the trade to regain ground lost in the wake of the February stock market debacle. With the silver clearly managing a rise above the 100 day moving average on Tuesday, it is possible that longer term technical systems are set to upgrade their opinion of the silver market. While the copper market didn't finish that impressively, it did set a positive early example for silver and that in conjunction with the "mostly" favorable stock market action probably conspired to lift silver prices. Certainly seeing the overall macro economic outlook improved and in turn seeing the Dollar weaken is a good combination for silver and that more than anything might have sparked the concentrated buying.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
Blanchard research note: Gold rose last week despite heavy ECB sales China says it will stop accumulating FX reserves New York Post: Cramer reveals a bit too much David Pauly: Since when don't investors have the right to know? Inflation is eating U.S. wage gains Arabs again test whether their dollars are any good in U.S. Chinese market recovers to near record high Jim Cramer explains on TV how to manipulate the markets The Statistics: As of close of business: 3/19/2007 Gold Warehouse Stocks: | 7,546,010 | - | Silver Warehouse Stocks: | 119,672,777 | - |
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$ 10,040m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.98 | 2,828,760 | US$ 1,863m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.30 | 362,874 | US$ 239m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.10 | 356,945 | US$ 233m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 3/19/2007 | | Total Net Assets | $929,215,888 | 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 3/19/2007 | | Total Net Assets | $1,696,750,015 | 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: New Gold’s (NGD) resource estimate and webcast alerts from Silvermex (SMR.V), SilverCrest (SVL.V), Endeavour (EXK), and Dia Bras (DIB.V) were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Rubicon | RBY +8.47% $1.28 | 2. Pacific Rim | PMU+6.86% $1.09 | 3. Cardero | CDY +4.72% $2.44 |
LOSERS 1. Almaden | AAU -2.91% $2.00 | 2. Entree Gold | EGI -2.60% $1.50 | 3. Exeter | XRA -2.60% $1.87 |
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: Largo Reports Strong Platinum and Palladium Values From Maracas Deposit in Bahia, Brazil - More
- March 20, 2007 | Item | E-mail
Art Freeze, P. Geo, Joins Board Of Soho Resources - More
- March 20, 2007 | Item | E-mail
Shoreham Resources Ltd. ("SMH") Joins TSX-Venture - More
- March 20, 2007 | Item | E-mail
Ontex Announces Brookbank Gold Ore Deposit Results and New Diamond Drill Program for 2007 - More
- March 20, 2007 | Item | E-mail
Great Western Minerals Group Ltd.: Hoidas Lake Winter Program Update - More
- March 20, 2007 | Item | E-mail
Drilling Contractor Secured for C de Baca Uranium Property, New Mexico - More
- March 20, 2007 | Item | E-mail
New Gold Inc.: New Afton Cu-Au Project - "New Gold Inc. (Toronto:NGD.TO - News)(AMEX:NGD - News) is pleased to release the resource estimation for the new mineralized Zone (C Zone) which is located vertically below the existing resource (Main Zone) at its New Afton Project, located 10 kilometres west of Kamloops, British Columbia, Canada. The description of the intersections which outlined the C Zone was provided in the press release of November 8, 2006." More
- March 20, 2007 | Item | E-mail
Sunridge Gold Accelerates Work at Emba Derho Based on Continuing Positive Drill Results - More
- March 20, 2007 | Item | E-mail
Azteca Gold Corp.: Private Placement Closes, New Mexican Acquisition - More
- March 20, 2007 | Item | E-mail
Asian Dragon Group Inc. Enters Final Negotiations At World Renowned Tieluping Silver and Lead Mine - More
- March 20, 2007 | Item | E-mail
Rocmec Releases NI 43-101 Resource Estimate for its Rocmec 1 (Russian Kid) Property, Confirms Significant Upside Potential - More
- March 20, 2007 | Item | E-mail
Tanqueray Resources Ltd. - Appointment of New Directors - More
- March 20, 2007 | Item | E-mail
General Metals Completes Acquisition of 150 Sq. Km. Nyhinahin Mining Concession near Bibiani, Ghana, West Africa - More
- March 20, 2007 | Item | E-mail
Earth Search Sciences' Hyperspectral Technology Helps Identify Existence and Location of New Precious Metals at El Capitan Property - More
- March 20, 2007 | Item | E-mail
Adanac Molybdenum Corporation: 2007 Resource Estimate Contains Additional 10 Million lbs of Metal Above 0.04% Mo Mining Cut-Off Grade - More
- March 20, 2007 | Item | E-mail
Continuum Increases Landholdings in Natividad Gold - Silver District, Oaxaca, Mexico - More
- March 20, 2007 | Item | E-mail
Webcast Alert: Silvermex Resources Ltd. Announces Its SilverSeek.com 2007 Silver Investment Conference Webcast - "Silvermex Resources LTD (TSX-V: SMR - News) is a Canadian listed junior resource company focused on early to mid stage silver exploration projects in Mexico. The company's objective is to identify and/or acquire economic silver resources in excess of 50 million ounces within the next 12 months. Silvermex's principal projects include the Penasco Quemado property as well as the Cerro de Plata property, both located approximately 100 miles north of Hermosillo, Sonora, Mexico." More
- March 20, 2007 | Item | E-mail
Webcast Alert: SilverCrest Mines, Inc. Announces Its SilverSeek.com 2007 Silver Investment Conference Webcast - "SilverCrest Mines Inc. (TSX VENTURE:SVL - News) is a "pure silver" exploration and development company with a portfolio of high grade silver deposits and exploration properties located in El Salvador, Mexico and an Area of Interest in Chile. The Company's longer term initiative is to acquire, develop and operate high grade silver mines throughout North, South and Central America. Primary targets will be silver projects that are amenable to accelerated development and early production." More
- March 20, 2007 | Item | E-mail
Webcast Alert: Endeavour Silver Corp Announces Its SilverSeek.com 2007 Silver Investment Conference Webcast - "Endeavour Silver Corp. (TSX: EDR - News; FRANKFURT S.E.: EJD) (AMEX:EXK - News) is a small-cap silver mining company focused on the growth of its silver production, resources and reserves in Mexico. The expansion plan now underway at the high grade, Guanacevi mines project in Durango should propel Endeavour into the ranks of the top 5 primary silver producers in the world." More
- March 20, 2007 | Item | E-mail
Webcast Alert: Dia Bras Exploration Announces Its SilverSeek.com 2007 Silver Investment Conference Webcast - "An Emerging Precious and Base Metal Producer in northern Mexico, Dia Bras Exploration is a Canadian mining exploration company with precious and base metal properties in northern Mexico. The Company is committed to advancing and adding value to its core assets in the renowned Sierra Madre Occidental of north-central Mexico. Dia Bras began evaluating opportunities in Mexico in 2003, and has since raised more than $37 million over a three-year period to acquire, explore and develop high quality properties." More
- March 20, 2007 | Item | E-mail
Inter-Citic Minerals Inc.: Dachang Mineral Resource Update - More
- March 20, 2007 | Item | E-mail
Perihelion Global Acquires 251 Acre Parcel From Meridian Land and Minerals, LLC Near Company's Patented Gold Mine - More
- March 20, 2007 | Item | E-mail
Birim Enters Into Option Agreement on Sangolo Property, Burkina Faso - More
- March 20, 2007 | Item | E-mail
Sparton to Begin Drill Program at SBD Property in Battle Mountain Area of Nevada USA - More
- March 20, 2007 | Item | E-mail
Paladin Resources Ltd.: Investor Presentation in Relation to Summit Bid - More
- March 20, 2007 | Item | E-mail
SLAM Exploration drilling base metal deposit - More
- March 20, 2007 | Item | E-mail
Uranium Energy Corp Expands its Advisory Board with the Addition of Attorney and Uranium Industry Representative, Jon Indall - More
- March 20, 2007 | Item | E-mail
Trend Exploration, Inc. Finalizes Mexican Subsidiary - More
- March 20, 2007 | Item | E-mail
African Gold Group, Inc. Commences Geophysical Survey at Kobada, Mali - More
- March 20, 2007 | Item | E-mail
UraniumCore Retains Coast Mountain Geological Ltd. - More
- March 20, 2007 | Item | E-mail
Drilling Contractor Secured for C de Baca Uranium Property, New Mexico - More
- March 20, 2007 | Item | E-mail
Denison Announces Inferred Mineral Resource Estimates on its Arizona Strip Properties - More
- March 20, 2007 | Item | E-mail
Skygold Ventures Ltd.: Preliminary Metallurgical Results for Spanish Mountain - More
- March 20, 2007 | Item | E-mail
Globex, Inc. Announces Strategic Acquisition of 33 Additional Uranium Mining Claims adjacent to Grenville Property - More
- March 20, 2007 | Item | E-mail
Alamos Gold Inc. Reports Expanded Global Mulatos Gold Resource - More
- March 20, 2007 | Item | E-mail
Trigon to Commence Drilling at Marysvale - More
- March 20, 2007 | Item | E-mail
Astral to Drill the Jumping Josephine; Sets 2007 Exploration Budget - More
- March 20, 2007 | Item | E-mail
StrataGold provides project update for Tassawini and Anaturi, Guyana - More
- March 20, 2007 | Item | E-mail
Canarc Acquires Options to Purchase Providencia and Los Arrastres Gold-Silver Projects in Guanajuato State, Mexico - More
- March 20, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2007 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 20 March, 2007 | |
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