-- Posted 13 April, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $684.80 | +$10.20 | +1.66% |
Silver | $14.01 | +$0.22 | +2.64% |
XAU | 147.02 | +2.40% | +3.09% |
HUI | 364.47 | +2.41% | +2.91% |
GDM | 1149.42 | +2.41% | +2.67% |
JSE Gold | 3094.21 | +1.89% | +3.75% |
USD | 82.17 | -0.16 | -0.65% |
Euro | 135.36 | +0.51 | +0.83% |
Yen | 83.92 | -0.11 | -0.36% |
Oil | $63.63 | -$0.22 | -1.01% |
10-Year | 4.761% | +0.024 | +1.86% |
Bond | 110.25 | -0.21875 | -0.70% |
Dow | 12612.12 | +0.47% | +0.41% |
Nasdaq | 2491.94 | +0.47% | +0.83% |
S&P | 1452.85 | +0.35% | +0.63% |
The Metals:
CoT Reports: Gold | Silver
Gold rose a few dollars in Asia and London and topped $680 in early New York trade before it fell in midmorning trade to $677.50, but it then spiked higher in late morning trade to new highs above $685, fell back off again, and then rallied back higher into the close and ended near its high with a gain of 1.51%. Silver jumped above $14.00 in early New York trade, remained near its highs for most of the day, and ended with a gain of 1.60%.
Euro gold rose above €505, platinum gained $12 to $1,284, palladium gained $8 to $380, and copper rose roughly 4 cents to about $3.50.
Gold and silver equities rose about 1% in morning trade before they furthered their gains throughout most of the afternoon and ended with near 2.5% gains.
The Economy:
Report | For | Reading | Expected | Previous |
PPI | Mar | 1.0% | 0.7% | 1.3% |
Core PPI | Mar | 0.0% | 0.2% | 0.4% |
Trade Balance | Feb | -$58.4B | -$60.5B | -$58.9B |
Michigan Sentiment | Apr | 85.3 | 87.5 | 88.4 |
All of this week’s economic reports:
Next week’s economic highlights include Retail Sales, the NY Empire State Index, Net Foreign Purchases, and Business Inventories on Monday, CPI, Housing Starts, Building Permits, Industrial Production, and Capacity Utilization on Tuesday, and Initial Jobless Claims, Leading Economic Indicators, and the Philadelphia Fed survey on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil prices traded on either side of unchanged and ended slightly lower as traders took profits from yesterday’s rally despite concern over refinery issues and worries about violence in Nigeria due to an upcoming election.
The U.S. dollar index fell to new two year lows on tamer than expected Core PPI and economically disappointing consumer sentiment data as traders contemplated implications of this weekend’s G7 meeting.
Treasuries fell after the Michigan Sentiment survey as bond traders looked past the weaker than expected headline number and saw that consumers' inflation expectations jumped.
The Dow, Nasdaq, and S&P rose as headline core inflation came in flat and oil prices eased ahead of a slew of earnings reports next week.
Among the big names making news in the market Friday were Magna and Chrysler, Citigroup and Old Lane, Morgan Stanley, General Electric, McDonald’s, and Sallie Mae.
The Commentary:
“June Gold finished up 10.2 at 689.9, 0.6 off the high and 7.3 up from the low.
May Silver closed up 0.235 at 14.09. This was 0.08 up from the low and 0.06 off the high.
In the past seeing the US Trade Balance narrow would have been cause for aggressive selling in the gold market. However, a rather significant headline gain of 1% in the PPI report and ongoing weakness in the US Dollar managed to keep sentiment toward gold in a very positive position. With the gold market earlier in the week seeing a series of stories predicting lower gold production it wasn't surprising to see buying interest dominate the selling interest in the wake of the inflation report. In fact, it seemed as if the bull camp embraced the headline PPI reading and discounted the "excluding Food and Energy readings,” the US Trade Deficit report, and the Michigan Sentiment figures. In short, the market was previously bullishly biased and therefore the bull camp picked its own focal points during the action Friday.
With May silver prices reaching up to just under the $14.16 level in the face of a potentially undermining scheduled US data, it is clear that the bull camp is managing to spin the headlines into its favor. However, the generally bullish bias toward all the metals markets that was already in place early in the week probably helped the silver market weave its way through the session Friday with an extension of the recent up trend pattern. Even the copper market managed to shake off its recent profit taking posture to contribute to some lift to the silver market in the action Friday.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics:
As of close of business: 4/12/2007
Gold Warehouse Stocks: | 7,455,703 | - |
Silver Warehouse Stocks: | 125,791,331 | - |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 494.56 | 15,900,551 | US$ 10,767m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 88.83 | 2,855,999 | US$ 1,954m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.42 | 366,877 | US$ 251m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.35 | 364,773 | US$ 247m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 4/12/2007 | |
Total Net Assets | $970,307,785 | Ounces of Gold
in Trust | 1,437,467.912 |
Shares Outstanding | 14,500,000 | Tonnes of Gold
in Trust | 44.71 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 4/12/2007 | |
Total Net Assets | $1,852,723,093 | Ounces of Silver
in Trust | 133,888,613.800 |
Shares Outstanding | 13,450,000 | Tonnes of Silver
in Trust | 4,164.40 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
U.S. Gold’s (UXG) listing on the Toronto Stock Exchange, Kimber’s (KBX) personnel change and grant of options, Freeport’s (FCX) worker rally, Abcourt’s (ABI.V) private placement and drilling, Avino’s (ASM.V) drill results, and Silver Eagle’s (SEG.TO) concentrate sale were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. U.S. Gold | UXG +16.20% $6.67 |
2. Claude Resources | CGR +12.34% $1.629 |
3. Vista Gold | VGZ +9.34% $8.20 |
LOSERS
1. Cardero | CDY-2.97% $2.62 |
2. Kimber | KBX-2.44% $1.60 |
3. Entree | EGI -0.89% $2.23 |
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:
US Gold Canadian Acquisition Corporation TSX Listing Approved - "US GOLD CORPORATION (Toronto:UXG.TO - News)(AMEX:UXG - News) is pleased to announce that its application to list the exchangeable shares of US Gold Canadian Acquisition Corporation, its subsidiary, on the Toronto Stock Exchange has been approved and trading will begin on Monday April 16, 2007 under the symbol UXE." More
- April 13, 2007 | Item | E-mail
Millstream Sets Terms of Financing - More
- April 13, 2007 | Item | E-mail
Etruscan reports first quarter results - More
- April 13, 2007 | Item | E-mail
Franconia Minerals Closes Brokered Private Placement Financing - More
- April 13, 2007 | Item | E-mail
Final Assays Released for Seneca Weaver Lake Project - More
- April 13, 2007 | Item | E-mail
Dynacor files its audited consolidated financial statements and announces fourth quarter and year-end results - More
- April 13, 2007 | Item | E-mail
Inter-Citic Issues Options - More
- April 13, 2007 | Item | E-mail
Denison closes OmegaCorp bid, considers options - More
- April 13, 2007 | Item | E-mail
Kimber announces personnel change & grant of options - "After two years with Kimber, Mr. Darren Klinck, Vice President of Corporate and Investor Relations has accepted a position with an Australian company. Mr. Klinck has been a key member of Kimber's staff and made a substantial contribution to the success of the Company and its recognition among investors. We thank him for his dedicated and effective work and we wish him well in his new appointment. To aid with the transition, Mr. Klinck has agreed to provide assistance informally with handover to his replacement and a new CEO, once they are appointed." More
- April 13, 2007 | Item | E-mail
Sierra Provides Status Report - More
- April 13, 2007 | Item | E-mail
Abcourt Mines Inc.: Private placement & Drilling Program on Abcourt-Barvue - "Mr. Renaud Hinse, president of Abcourt Mines Inc is pleased to announce that the directors of the Company, on April 12, 2007, approved a non-brokered private placement of 350,000 flow-through shares of the Company at a price of $0.75 per share for a total amount of $262,500 with STONE 2007 FLOW-THROUGH LIMITED PARTNERSHIP of Toronto. No commission was paid. The proceed will be used for the current soil testing program with Golder Associates and for the current drilling program." More
- April 13, 2007 | Item | E-mail
Denison Offer to Acquire OmegaCorp Limited Closes - More
- April 13, 2007 | Item | E-mail
Avino Further Expands the San Gonzalo Zone - "Avino Silver & Gold Mines Ltd. (the "Company") (TSX VENTURE:ASM - News; OTCBB:ASGMF - News; BERLIN:GV6 - News; FRANKFURT:GV6 - News) is continuing to explore the large Avino property located 80 kilometres northeast of Durango, Mexico. The Company is pleased to announce results of diamond drill holes SG-07-05, SG-07-06, and SG-07-07 on the San Gonzalo gold, silver, lead, zinc deposit situated 2 kilometres north-east of its former producing (1976 - 2001) silver, copper, & gold mine." More
- April 13, 2007 | Item | E-mail
Molycor Gold Corp. Retains AGORACOM Investor Relations-IR Hub Is Now Live - More
- April 13, 2007 | Item | E-mail
San Gold -- First Gold Sale - More
- April 13, 2007 | Item | E-mail
Manicouagan grants options - More
- April 13, 2007 | Item | E-mail
Centerra Gold Announces Conference Call and Webcast of 2007 First Quarter Results - "Centerra Gold Inc. (Toronto:CG.TO - News) invites investors and the media to join its first quarter conference call and web cast on Monday, April 30, 2007 at 11:00 a.m. Eastern time. Centerra senior executives will discuss the financial results and company developments. The financial results are scheduled to be released after the market closes on Friday, April 27, 2007." More
- April 13, 2007 | Item | E-mail
First Gold Closes a $275,000 Private Placement with Mineralfields for Exploration on it's Gold Projects - More
- April 13, 2007 | Item | E-mail
Sable Resources Ltd. - 2007 Work Program - More
- April 13, 2007 | Item | E-mail
Global Gold Acquires Option on Additional Uranium Targets in Newfoundland - More
- April 13, 2007 | Item | E-mail
CanAm Uranium Announces Advisory Board Appointment - More
- April 13, 2007 | Item | E-mail
Birim Goldfields Inc.: Drilling Confirms Down Plunge Extension of Gold Mineralization at Chert Ridge - More
- April 13, 2007 | Item | E-mail
/R E P E A T/ - Stellar to proceed with the distribution of 8.75 million shares of Stelmine Canada Ltd. - More
- April 13, 2007 | Item | E-mail
Mr. Louis Montpellier Appointed as Corporate Secretary - More
- April 13, 2007 | Item | E-mail
Unico, Inc. Adds New Photo Gallery Showing Reconstruction Progress at the Mill and Processing Facility at the Deer Trail Mine and Additional Screening Plant Act - More
- April 13, 2007 | Item | E-mail
Garrison TSR Plant Upgrade Commences, Key Contractors Appointed and Company Purchases Two Drill Rigs - More
- April 13, 2007 | Item | E-mail
Sutcliffe Resources Ltd. Proposes Name Change at Forthcoming Annual General Meeting - More
- April 13, 2007 | Item | E-mail
Central African Mining & Exploration Company Plc ('CAMEC' or 'the Company') Makes All-Share Bid for ASX Listed Uranium Focussed OmegaCorp Limited - More
- April 13, 2007 | Item | E-mail
Wildcat Special Meeting of Shareholders Adjourned - More
- April 13, 2007 | Item | E-mail
Commander and Bayswater Option Cochrane Pond to Global Gold Uranium - More
- April 13, 2007 | Item | E-mail
Bayswater and Commander Option Cochrane Pond Property, Newfoundland - More
- April 13, 2007 | Item | E-mail
CAMEC makes rival A$222 mln bid for OmegaCorp - More
- April 13, 2007 | Item | E-mail
Silver Eagle Announces First Sale of Concentrate - "Silver Eagle Mines Inc. ("Silver Eagle") (TSX:SEG - News) is pleased to announce its first sale of silver-lead-zinc-gold concentrate from ongoing bulk-sampling activities at its wholly owned Miguel Auza Mine in Zacatecas, Mexico. On April 11, 2007 Silver Eagle entered into a sales agreement with Industrias Penoles, S.A. de C.V. ("Penoles") for the sale of an initial 120 tonnes of concentrate from Silver Eagle's bulk-sampling activities." More
- April 13, 2007 | Item | E-mail
Workers at Freeport Grasberg mine to stage rally - "Workers at the massive Grasberg mine in Papua operated by Freeport-McMoran Copper & Gold Inc. (FCX.N: Quote, Profile , Research) plan a rally next week over demands for better welfare for native workers, the workers' group at the Indonesian mine said on Friday.
The workers' demands included a fair career opportunity for native Papuan workers, an improved recruiting system, as well as a better pension scheme, said Frans Pigome, chairman of Tongoi Papua, an internal body set up to be a communication channel between native Papuan employees and Freeport Indonesia." More
- April 13, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 13 April, 2007 | |
