-- Posted 16 April, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $689.80 | +$5.00 |
Silver | $14.04 | +$0.03 |
XAU | 148.11 | +0.74% |
HUI | 368.28 | +1.05% |
GDM | 1162.61 | +1.15% |
JSE Gold | 3116.67 | +0.56% |
USD | 82.08 | -0.09 |
Euro | 135.49 | +0.13 |
Yen | 83.49 | -0.43 |
Oil | $63.61 | -$0.02 |
10-Year | 4.735% | -0.026 |
T-Bond | 110.59375 | +0.34375 |
Dow | 12720.46 | +0.86% |
Nasdaq | 2518.33 | +1.06% |
S&P | 1468.47 | +1.08% |
The Metals:
Gold rose a few dollars to the highs 680s in Asia and London before it fell in morning New York trade and saw slight losses at $682.90, but it then rallied back in afternoon trade and made new highs by the close. Silver fell over 1% to as low as $13.81 in morning trade before it also rallied higher in afternoon trade and ended slightly higher.
Euro gold rose to about €510, platinum gained $2 to $1,286, palladium lost $2 to $378, and copper rose a couple of cents to about $3.52.
Gold and silver equities steadily rose throughout most of trade and ended with about 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Retail Sales | Mar | 0.7% | 0.4% | 0.5% |
Retail Sales ex-auto | Mar | 0.8% | 0.7% | 0.4% |
NY Empire State Index | Apr | 3.8 | 10.0 | 1.9 |
Net Foreign Purchases | Feb | $58.1B | $80.0B | $98.8B |
Business Inventories | Feb | 0.3% | 0.3% | 0.2% |
Tomorrow at 8:30AM EST brings CPI for March expected at 0.6%, Core CPI expected at 0.2%, Housing Starts for March expected at 1,500,000, and Building Permits expected at 1,515,000. At 9:15 are Industrial Production for March expected at 0.0% and Capacity Utilization expected at 81.9%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell midday on hopes that some output from Nigeria may return to the market after being disrupted by militants last year, but it then rebounded back near unchanged by the close on concerns surrounding election-related violence.
The U.S. dollar index rose versus the yen as it fell on comments from the G7 meeting this past weekend, but the dollar fell versus nearly every world currency and treasuries rose after the NAHB/Wells Fargo Housing Market Index fell to 33 from 36 and renewed worries about the U.S. housing market.
The Dow, Nasdaq, and S&P rose on better than expected Retails Sales data and decent earnings reports.
Among the big names making news in the market today were Sallie Mae, Citigroup, Wachovia, InnKeepers USA and Apollo, and Lilly.
The Commentary:
“June Gold finished up 4.6 at 694.5, 0.5 off the high and 6.8 up from the low.
May Silver closed down 0.01 at 14.08. This was 0.26 up from the low and 0.05 off the high.
The gold market started out firm, faded into negative ground ahead of mid session and then the market managed a rather impressive late rally. We suspect that the permanence of the big rally in the US equity market emboldened the buyers but the Press was suggesting that the wave of buying in gold was primarily the result of physical buyers. Others suggested that the presence of increased seasonal buying in India off the festival season inspired the run up and with the silver market mostly missing out on the late rally and platinum mostly tracking sideways during the pulse up in gold, it would seem like the gold buying interest was indeed an isolated event.
Despite the favorable leadership from the gold market, the silver market was unable to erase a quasi double top formation on the charts. Some players suggested that the rejection of a lower low in silver during the action Monday suggests that the bear camp lacks resolve, but given the divergence between gold and silver on the session Monday, one could also suggest that the bull camp also lacks resolve. With the recovery in the copper market back off its lows and the rather sharp run up in equity prices on Monday, the bull camp in silver should have been emboldened by outside market action but apparently the market wasn't easily pulled out of its tight trading range.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Peter Brimelow: Gold jumps but bugs are still suspicious
Eric Hommelberg puts British gold sales in perspective
Japan endorses call to sell IMF's gold
Canada's 'Market Matters' national radio program interviews James Turk
Recommending gold stocks, Dubai's AMEInfo cites GATA
U.S. mad it's not alone in rigging currency markets
IMF gold sales threat raised for 427th time in 3 years -- by guess who!
London Times calls British gold sales a 'blunder,' misses their success
G7 mulls better use of oil money and China's reserves
Financial adviser Armstrong gets another five years in prison
GATA supporters in Boston area invited to reception and presentation
The Statistics:
As of close of business: 4/13/2007
Gold Warehouse Stocks: | 7,612,970 | + 157,267 |
Silver Warehouse Stocks: | 126,384,650 | + 593,319 |
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$ 10,839m |
LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 88.83 | 2,855,904 | US$ 1,971m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.42 | 366,865 | US$ 254m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.35 | 364,760 | US$ 248m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 4/13/2007 | |
Total Net Assets | $985,103,071 | 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 4/13/2007 | |
Total Net Assets | $1,858,053,258 | 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:
Royal Gold’s (RGLD) presentation at the European Gold Forum, International Royalty’s (ROY) acquired 2,150,000 common shares in the capital of Crossroads Exploration, Orezone’s (OZN) granted uranium permits in Niger, Rubicon’s (RBY) drill results, Seabridge’s (SA) drilling, Entree Gold’s (EGI) drill program, Freeport’s (FCX) worker talks, Hecla’s (HL) annual report, Shoshone’s (SHSH.PK) CEO appointment, Arian’s (AGQ.V) drill results, Palmarejo’s (PJO.V) drill results, Silvercorp’s (SVM.TO) new lead smelter agreement, and Silver Standard’s (SSRI) and Esperanza’s (EPZ.V) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rubicon | RBY +25.5% $2.51 |
2. Northgate | NXG +8.47% $3.97 |
3. International Royalty | ROY +4.95% $7.00 |
LOSERS
1. Cardero | CDY-3.05% $2.54 |
2. Crystallex | KRY -2.57% $4.17 |
3. Kimber | KBX-1.88% $1.57 |
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:
International Tower Hill Mines Ltd. Increases Brokered Private Placement to $14,650,800 - More
- April 16, 2007 | Item | E-mail
Continued exploration at El Tigre discovers a new target area containing high grade gold and silver samples - More
- April 16, 2007 | Item | E-mail
Alamos Gold Inc. Grants Stock Options - More
- April 16, 2007 | Item | E-mail
Goldeye and Polar Chip Samples From the Sonia Vein Return 26.73 g/t Au and 56.3 g/t Ag Over 3m - More
- April 16, 2007 | Item | E-mail
Bullard Pass Property lithogeochemical results - More
- April 16, 2007 | Item | E-mail
Denison Approved for Listing on the American Stock Exchange (AMEX) - More
- April 16, 2007 | Item | E-mail
CanAm Uranium Corp. Completes Transfer of Wheeler-Beckett Claims in Athabasca Basin - More
- April 16, 2007 | Item | E-mail
Niger gives uranium permits to Orezoneunit - More
- April 16, 2007 | Item | E-mail
Goldrea Resources Ltd.: Private Placement - More
- April 16, 2007 | Item | E-mail
Luna Gold appoints investor relations consultant Up Communications - More
- April 16, 2007 | Item | E-mail
Aurora Hires John Roberts as Vice President, Environment - More
- April 16, 2007 | Item | E-mail
Little Squaw Launches 2007 Gold Exploration Program at Chandalar - More
- April 16, 2007 | Item | E-mail
Tumi Resources Limited - Tumi Intersects 24.4m Grading 6.4 g/t Gold and 1,629 g/t Silver at La Trini, Mexico - More
- April 16, 2007 | Item | E-mail
Penoles Receives Eaglecrest's Highest Grade Gold Concentrate to Date - More
- April 16, 2007 | Item | E-mail
Haber, Inc. to be Represented in Australia by UMACO Pty Ltd - More
- April 16, 2007 | Item | E-mail
Royal Gold to Present at the European Gold Forum - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; Toronto: RGL - News), the leading publicly-traded precious metals royalty company, announced today that its corporate presentation will be webcast from the European Gold Forum in Zurich, Switzerland. Tony Jensen, President and Chief Executive Officer, will provide an overview of the Company on April 19, 2007, at 10:35 a.m. Central European Summer Time (4:35 a.m. Eastern time/2:35 a.m. Mountain time)." More
- April 16, 2007 | Item | E-mail
Gitennes Update on Peru Copper-Silver Project - More
- April 16, 2007 | Item | E-mail
Adanac Molybdenum Corporation: Conditional Approval Received for Listing on the Toronto Stock Exchange - More
- April 16, 2007 | Item | E-mail
Hecla's 2006 Annual Report Available on Web Site - "Hecla Mining Company (NYSE:HL - News) has furnished copies of its annual report to shareholders for the year ended December 31, 2006, to the U.S. Securities and Exchange Commission. The annual report, along with the proxy statement, is being mailed to shareholders in conjunction with the Annual Meeting of Shareholders to be held on May 4, 2007, and both have been posted on the company's web site (www.hecla-mining.com) on the Investor Relations page." More
- April 16, 2007 | Item | E-mail
Continental Precious Minerals Adds to Mineral Licences in Sweden - More
- April 16, 2007 | Item | E-mail
Tribute Amend Offering - More
- April 16, 2007 | Item | E-mail
Extensive Gold Encountered in I-Zone Surface Program at Mengold's Goldcreek Property - More
- April 16, 2007 | Item | E-mail
Skygold Ventures Ltd.: Final 2006 Results Highlight Remarkable Success Rate in the Main Zone and Widespread Gold Mineralization at Spanish Mountain - More
- April 16, 2007 | Item | E-mail
Galway Resources' infill drilling intercepts 210 feet of molybdenum/tungsten at Victorio - More
- April 16, 2007 | Item | E-mail
North American Palladium Reports 68% Increase in First Quarter 2007 Palladium Production - More
- April 16, 2007 | Item | E-mail
Aurus Introduces Video of Its Operations - More
- April 16, 2007 | Item | E-mail
Trelawney to be Featured on CEO Clips on "The Biography Channel" - More
- April 16, 2007 | Item | E-mail
Timberline Reports Fourth Consecutive Quarterly Revenue Record At Kettle Drilling - More
- April 16, 2007 | Item | E-mail
Franklin Mining, Inc. Issues 15c2-11 Update - More
- April 16, 2007 | Item | E-mail
Amerix Reports on Carumbe Gold Project, Brazil - More
- April 16, 2007 | Item | E-mail
International Royalty acquires over 10% of New Horizon Uranium Corporation - More
- April 16, 2007 | Item | E-mail
International Royalty acquires over 10% of New Horizon Uranium Corporation - "International Royalty Corporation (AMEX: ROY, TSX: IRC) ("IRC") is pleased to report that on April 12, 2007 it acquired 2,150,000 common shares in the capital of Crossroads Exploration Inc. (now named New Horizon Uranium Corporation ("NHU")) representing 10.95% of the issued and outstanding shares of NHU." More
- April 16, 2007 | Item | E-mail
Armistice Resources Corp. completes dewatering of McGarry project - More
- April 16, 2007 | Item | E-mail
Goldstake: Nickel property spin-off - More
- April 16, 2007 | Item | E-mail
Drilling at Tocantinzinho Extends Mineralization to Southeast and Delineates Core Area of 2 G/T Gold - More
- April 16, 2007 | Item | E-mail
Resignation of Gary O'Connor as Vice President Exploration - More
- April 16, 2007 | Item | E-mail
SLAM Exploration acquires gold property - More
- April 16, 2007 | Item | E-mail
Goldcrest Commences 5,500 Meter RAB/Aircore Drilling Program at its Youanmi Project in Western Australia - More
- April 16, 2007 | Item | E-mail
Drilling Commences at Champion Bear's Plomp Farm Property - More
- April 16, 2007 | Item | E-mail
Golden Tag and Rubicon Intersect New Gold-Bearing Zone at McCuaig Project, Red Lake, Ontario - More
- April 16, 2007 | Item | E-mail
Alpha Gold Plans to Drill Molybdenum Zone West of the Canyon Creek Skarn; Assays Revealed 8.83 m (29.0 ft) of 0.26% Mo, including 1.12 m (3.7 ft) of 0.84% Mo - More
- April 16, 2007 | Item | E-mail
Northland Resources Retains Corus Consulting to Investigate Beneficiation and Marketing of Hannukainen Iron-Copper-Gold Ore - More
- April 16, 2007 | Item | E-mail
Farallon Announces Results of Metallurgical Testing on High Grade Mineralization at the G-9 Deposit, Campo Morado, Mexico - More
- April 16, 2007 | Item | E-mail
Redcorp Ventures Ltd.: Tulsequah Project Exploration Drilling Program Commences - More
- April 16, 2007 | Item | E-mail
Argentex expands zinc-lead-indium discovery at Pinguino - More
- April 16, 2007 | Item | E-mail
Espolon Assays Copper to 3.52% Over 10 Meters and Gold to 20.9 Grams/Tonne Over 5 Meters - More
- April 16, 2007 | Item | E-mail
Caledonia Announces Additional Resource at Nama Cobalt Project in Zambia - More
- April 16, 2007 | Item | E-mail
Laurion Initiates Phase Two Drilling on the Enid-Massey Project Santrap Grid - More
- April 16, 2007 | Item | E-mail
Royal Standard Minerals Inc.: Goldwedge Project Progress, Nye County, Nevada - More
- April 16, 2007 | Item | E-mail
Hana Mining Announces New President and Director - More
- April 16, 2007 | Item | E-mail
MetalCORP; 100% Ownership in High Grade Molybdenum (Mo) - Silver (Ag) Project in Ontario - More
- April 16, 2007 | Item | E-mail
Luiri Enters Into a Strategic Alliance With Strata Capital - More
- April 16, 2007 | Item | E-mail
Liberty Star Announces Name Change to Reflect Current Business; Uranium Mining Set to Resume 2,400 Feet from a Liberty Star Pipe Target - More
- April 16, 2007 | Item | E-mail
Mexoro Minerals Corporate Update - More
- April 16, 2007 | Item | E-mail
Explorator Resources Inc. Announces Investor Relations Director - More
- April 16, 2007 | Item | E-mail
Siguiri Basin Mining Inc. (SBMI) Signs Joint Venture With Consolidated Mining Inc. - More
- April 16, 2007 | Item | E-mail
Kalimantan Gold appoints Nick Cottam as Corporate Relations Manager - More
- April 16, 2007 | Item | E-mail
TRENDFIELD HOLDINGS SA -- Fixed Wing Airborne Geophysical Survey of Tagaza II and Tagaza IV Uranium Blocks - More
- April 16, 2007 | Item | E-mail
International PBX Ventures Ltd.: Copaquire Molybdenum-Copper-Rhenium Porhyry, Chile Clarification and Correction - More
- April 16, 2007 | Item | E-mail
Anvil Finalises the Acquisition of an Additional 15% in the Kinsevere-Nambulwa Copper-Cobalt Joint Venture, Democratic Republic of Congo - More
- April 16, 2007 | Item | E-mail
Candente Resource Corp.: Metallurgical Testing for Canariaco Copper Project Norte, Peru - More
- April 16, 2007 | Item | E-mail
Merit Mining Options J & L Gold-Silver-Zinc-Lead Property - More
- April 16, 2007 | Item | E-mail
Dumont closes $1 million private placement financing - More
- April 16, 2007 | Item | E-mail
Peak Gold Announces Management Appointments - More
- April 16, 2007 | Item | E-mail
Orezone Granted Uranium Exploration Permits in Niger - More
- April 16, 2007 | Item | E-mail
CanAm Uranium Announces Appointment of Two New Directors - More
- April 16, 2007 | Item | E-mail
Ultra Uranium Corp. to Acquire Interest in Orbit and Crackingstone Uranium Projects, Uranium City, Saskatchewan - More
- April 16, 2007 | Item | E-mail
Strategic Resources Hires Argentine Consultant for Uranium Properties in Argentina - More
- April 16, 2007 | Item | E-mail
Alberta Star Samples 5505.0 gm/mt (177.01 oz/mt) Silver, 30.3 gm/mt Gold, 38.95% Copper, 7.10% Zinc, 0.51% Nickel, 0.35% Cobalt, 0.18% Bismuth and 0.068% U308 - More
- April 16, 2007 | Item | E-mail
Logan Resources Acquires Englishman Uranium Project, Yukon - More
- April 16, 2007 | Item | E-mail
Kilgore Minerals Receives Grant of Uranium Leases - More
- April 16, 2007 | Item | E-mail
Uranium Energy Corp Continues to Make Progress at its Goliad Project - More
- April 16, 2007 | Item | E-mail
Globex / U Mining Resources Inc. Announces Latest Acquisition of Uranium Property in Chibougamau Area of Northern Quebec - More
- April 16, 2007 | Item | E-mail
Cash Minerals Begins Drilling at Odie Property (IOCG-U TARGET), Wernecke Uranium District, Yukon - More
- April 16, 2007 | Item | E-mail
Paladin Welcomes Summit Recommendation - More
- April 16, 2007 | Item | E-mail
CanAlaska Undertakes Uranium Exploration with Yellowcake plc - More
- April 16, 2007 | Item | E-mail
Shoshone Silver Appoints Conrad Houser CEO - "Conrad brings wide ranging knowledge of mining and corporate development to Shoshone," said Carol Stephan, Chairman of Shoshone's Board of Directors. "He has a track record of providing the vision to create new corporate goals and the invigorating leadership necessary to meet those goals. He is ideally suited to build on Shoshone's strong foundation and lead the company into an exciting future." More
- April 16, 2007 | Item | E-mail
Arian Silver Corporation:Continued High Grades on Calicanto - "Arian Silver Corporation ("Arian" or the "Company") (TSX VENTURE:AGQ - News; AIM:AGQ)("PLUS":AGQ) (FWB:I3A)is pleased to announce continued high grade results from its diamond drilling programme, which has just been completed at its Calicanto Group of properties in Zacatecas state, Mexico. This drilling programme commenced in December 2006." More
- April 16, 2007 | Item | E-mail
Orezone Granted Uranium Exploration Permits in Niger - "Orezone Resources Inc. (Toronto:OZN.TO - News)(AMEX:OZN - News) is pleased to announce that its wholly-owned subsidiary, Niger Resources Inc., has been granted two uranium exploration permits by the Government of the Republic of Niger, West Africa. The two permits totaling 980km2 are located adjacent to Areva's exploration permits (previously Cogema) and within 40km of its SOMAIR and COMINAK uranium mines which have been in production since the early seventies. Niger is the world's fourth largest Uranium producer." More
- April 16, 2007 | Item | E-mail
Palmarejo Announces Additional Drill Results From the Guadalupe Project - "Palmarejo Silver and Gold Corporation (CDNX:PJO.V - News) is pleased to announce the latest results from the diamond drill program at the Guadalupe Project in the Temoris District, Chihuahua, Mexico. The project is held by the Company's 100%-owned subsidiary, Planet Gold SA de CV." More
- April 16, 2007 | Item | E-mail
Rubicon and Golden Tag Intersect New Gold-Bearing Zone at McCuaig Project, Red Lake - "Rubicon Minerals Corp. (Toronto:RMX.TO - News)(AMEX:RBY - News) and partner Golden Tag Resources Ltd. (CDNX:GOG.V - News) are pleased to announce the discovery of a new gold zone at the McCuaig joint venture (Rubicon 60% -Golden Tag 40%) in a first-pass drill test on a new target developed by Rubicon. One drill hole plus a wedge hole were completed." More
- April 16, 2007 | Item | E-mail
Silvercorp Signed Agreement to Participate in Constructing a New Lead Smelter in Luoning County, Henan, China - "Silvercorp Metals Inc. ("Silvercorp") (TSX:SVM - News) announces that through its 77.5% subsidiary, Henan Found, it has signed a joint venture agreement with three Chinese mining companies Luoyang Luanchuan Molybdenum Group Inc. ("Luomu"), HT Mining Co. Ltd. ("HT Mining"), and Luochuan Xinchuan Mining Co. Ltd. ("LX Mining") to build a 150,000-tonne/year lead-silver-gold smelter in Luoning County, Luoyang City, Henan Province, China." More
- April 16, 2007 | Item | E-mail
Drilling to Begin at Seabridge Gold's Noche Buena Project - "Seabridge Gold (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it expects to initiate a drilling program this month at its 100% owned Noche Buena Project in Sonora, Mexico. The 10,000 meter reverse circulation program has been designed to expand the known resource by testing three targets within and adjacent to the existing deposit." More
- April 16, 2007 | Item | E-mail
Entree Gold Commences Drill Program at Sol Dos, Arizona - "Entree Gold Inc. (Toronto:ETG.TO - News)(AMEX:EGI - News)(Frankfurt:EKA.F - News) ("Entree" or the "Company") has commenced drilling on its Sol Dos copper prospect. Sol Dos is located in the heart of one of North America's premier copper producing districts, in southeastern Arizona. The Company expects to complete 6,550 feet (2,000 m) of drilling." More
- April 16, 2007 | Item | E-mail
Silver Standard and Esperanza Report Further San Luis High-Grade Drill Results - "Silver Standard Resources Inc. (Toronto:SSO.TO - News)(NasdaqGM:SSRI - News) and Esperanza Silver Corporation (CDNX:EPZ.V - News)(Other OTC:ESPZF.PK - News) are pleased to announce results of ongoing diamond drilling at the San Luis high-grade gold and silver joint venture property in central Peru." More
- April 16, 2007 | Item | E-mail
Indonesia's Freeport, workers to hold talks Tuesday - "Workers at Freeport-McMoran Copper & Gold's (FCX.N: Quote, Profile , Research) Grasberg mine in Papua vowed to press ahead with a protest rally over welfare for native workers, if talks scheduled for Tuesday fail to make progress." More
- April 16, 2007 | Item | E-mail
UrAsia Energy announces court approval for plan of arrangement - More
- April 16, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 16 April, 2007 | |
