-- Posted 27 April, 2007 | | Discuss This Article - Comments:
Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $678.90 | +$4.50 | -1.84% |
Silver | $13.43 | +$0.15 | -3.45% |
XAU | 139.70 | +0.39% | -2.75% |
HUI | 344.83 | +0.45% | -3.18% |
GDM | 1097.95 | +0.71% | -2.55% |
JSE Gold | 2892.35 | UNCH | -3.26% |
USD | 81.48 | -0.28 | -0.26% |
Euro | 136.34 | +0.25 | +0.26% |
Yen | 83.56 | -0.08 | -0.76% |
Oil | $66.46 | +$1.40 | +4.86% |
10-Year | 4.698% | +0.014 | +0.56% |
Bond | 110.90625 | -0.15625 | -0.34% |
Dow | 13120.94 | +0.12% | +1.23% |
Nasdaq | 2557.21 | +0.11% | +1.22% |
S&P | 1494.07 | -0.01% | +0.65% |
The Metals:
CoT Reports Released: Gold | Silver
Gold traded a couple of dollars lower in Asia and London, but it then rose in early New York trade, remained near its highs into the close, and ended with a gain of 0.67%. Silver followed a similar pattern and added 1.13%.
Euro gold rose to about €499, platinum lost $3 to $1,295, palladium gained $2 to $370, and copper gained a few cents to about $3.62.
Gold and silver equities rose about 1% in the first hour of trade before they fell back off and saw slight losses by late morning, but they then rallied back higher in afternoon trade and ended with slight gains.
The Economy:
Report | For | Reading | Expected | Previous |
GDP | Q1 | 1.3% | 1.8% | 2.5% |
Chain Deflator | Q1 | 4.0% | 3.2% | 1.7% |
Employment Cost Index | Q1 | 0.8% | 0.9% | 0.9% |
Michigan Sentiment | Apr | 87.1 | 85.5 | 85.3 |
All of this week’s economic reports:
Next week’s economic highlights include Personal Income and Spending, Chicago PMI, and Construction Spending on Monday, the ISM Index and Pending Home Sales on Tuesday, Factory Orders on Wednesday, Initial Jobless Claims, Productivity, and ISM Services on Thursday, and jobs data on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil eventually rose over 2% after news that 172 militants were arrested in Saudi Arabia for plotting to attack oil facilities. Violence in Nigeria also added to geopolitical concerns.
The U.S. dollar index fell as GDP came in surprisingly weak at the slowest growth in four years, but losses were limited as the Chain Deflator came in higher than expected and raised inflationary concerns. The dollar fell to a record low versus the euro.
Treasuries ended slightly lower as concerns over slower than expected growth were overcome by worries over higher than expected inflation.
The Dow, Nasdaq, and S&P again rose on decent earnings despite higher oil and economic/inflationary concerns, though gains were limited and the S&P ended slightly lower while the Dow set a new record high close.
Among the big names making news in the market Friday were Microsoft, Mazda, Waste Management, Citigroup and Nikko Cordial, RBS and ABN, GM, Burger King, Chevron, and Goodyear.
The Commentary:
“June Gold finished up 3.8 at 681.8, 0.2 off the high and 4 up from the low.
May Silver closed up 0.118 at 13.443. This was 0.103 up from the low and 0.027 off the high.
The gold market was able to mostly hold in positive territory throughout most of the session Friday but with the US numbers coming in weak and the metals recently under liquidation pressure, the market was certainly in a vulnerable position. However, one would think that evidence of a major terrorism incident in Saudi Arabia did manage to support gold prices during the session Friday. However, some players in the market suggest that the presence of weak US economic readings might require more significant declines in the US Dollar as an offset to the threat of slowing physical demand. With oil prices firming in the wake of the terrorism incident it was clear that flight to quality concerns were indeed present in the marketplace and they were having an impact on gold prices.
Like the gold market, the silver market generally showed positive action through a large portion of the trading session. Surprisingly weaker platinum prices and mostly soft US economic readings could have rekindled the prior session's selling wave but instead the silver market held its ground. While the silver market wouldn't seem to be in line for a direct flight to quality lift off the terrorism incident it was very impressive to see silver trading higher in the wake of the flow of softer US economic information. With the silver market actually firming late in the session it would seem like the market ended the week on an upbeat note.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics:
As of close of business: 4/26/2007
Gold Warehouse Stocks: | 7,680,128 | -64 |
Silver Warehouse Stocks: | 130,026,200 | + 596,372 |
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 | 493.33 | 15,860,940 | US$ 10,671m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 89.75 | 2,885,553 | US$ 1,965m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.55 | 173,437 | US$ 253m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.34 | 364,720 | US$ 249m |
Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.05 tonnes.
COMEX Gold Trust (IAU)
Profile as of 4/26/2007 | |
Total Net Assets | $969,868,809 | 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 4/26/2007 | |
Total Net Assets | $1,841,859,578 | Ounces of Silver
in Trust | 134,883,938.200 |
Shares Outstanding | 13,550,000 | Tonnes of Silver
in Trust | 4,195.36 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
A likely miner strike in Peru, Buenaventura’s (BVN) first quarter results, Goldcorp’s (GG) Peak mine sale, SNS Silver’s (SNS.V) new board member, Sterling Mining’s (SRLM.OB) new technical services manager and chief engineer, Palmarejo’s (PJO.V) quarterly activity report, Silver Eagle’s (SEG.TO) drill results, and Apogee’s (APE.V) senior executive changes were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Kimber | KBX +6.05% $1.42 |
2. Northern Orion | NTO +5.00% $4.83 |
3. Nevsun | NSU +3.74% $1.94 |
LOSERS
1. Golden Star | GSS -2.89% $4.37 |
2. Newmont | NEM-1.46% $42.55 |
3. Gold Reserve | GRZ -1.43% $6.90 |
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:
Goldcorp Announces Completion of Sale of Peak Mine - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) is pleased to announce that it has completed the previously announced sale of its Peak mine in Australia to Peak Gold Ltd. (CDNX:PIK.V - News) for $200 million in cash." More
- April 27, 2007 | Item | E-mail
Peak Gold announces completion of acquisition of Peak Mine - More
- April 27, 2007 | Item | E-mail
Africo Resources Ltd. - Press Release - More
- April 27, 2007 | Item | E-mail
Sierra Provides Status Report - More
- April 27, 2007 | Item | E-mail
Jasper Mining Corporation announces initial results from Erie Creek property - More
- April 27, 2007 | Item | E-mail
Clint Sharples Appointed as a Director of Alma Resources Ltd. - More
- April 27, 2007 | Item | E-mail
Sirios Resources Inc.: Closing of the 2M C$ Brokered Private Placement - More
- April 27, 2007 | Item | E-mail
The Board of Aurora Gold Corporation Is Pleased to Announce Board Changes - More
- April 27, 2007 | Item | E-mail
SNS Silver Welcomes Norman Radford To Advisory Board - "Mr. Radford, a 1955 graduate in Geological Engineering from the University Of Idaho College Of Mines, has extensive geological engineering, exploration and mining experience, particularly in the Coeur d'Alene Mining District. For sixteen years, Mr. Radford was Senior Mine Geologist at the Bunker Hill Mine - immediately west of the Crescent Mine - and was the Acting Chief Mine Geologist for three years. Mr. Radford performed geologic and engineering work on the Crescent Mine during the period of Bunker Hill Co. ownership." More
- April 27, 2007 | Item | E-mail
Peru miners say strike very likely despite talks - "Peru's largest miners union said on Friday a nationwide strike set for Monday looked increasingly inevitable, but it would meet again with government officials in the afternoon to try to reach a deal." More
- April 27, 2007 | Item | E-mail
Queensland Minerals Ltd. Announces its Financial Results for the Year Ended December 31, 2006 - More
- April 27, 2007 | Item | E-mail
Newport Gold Inc. and Noront Resources Ltd. China One Project Inner Mongolia China - More
- April 27, 2007 | Item | E-mail
Coniagas Resources Limited - Private Placement and appointment of Director - More
- April 27, 2007 | Item | E-mail
Yorbeau Announces Ore Processing Arrangement - More
- April 27, 2007 | Item | E-mail
Sterling Mining Hires Hasz as Technical Services Manager and Chief Engineer - "Mr. Hasz has over 20 years of diverse underground mining experience and has spent the last 10 years working as a mine engineer. Mr. Hasz holds a Bachelor of Science degree in Mining Engineering from the University of Idaho and is a Member of the Society for Mining Metallurgy and Exploration." More
- April 27, 2007 | Item | E-mail
Maximus Identifies a New Mineralized Zone at NFX's Larder Lake Property - More
- April 27, 2007 | Item | E-mail
Platinex to Undertake Private Placement - More
- April 27, 2007 | Item | E-mail
Cogitore Provides Update on Estrades Project. - More
- April 27, 2007 | Item | E-mail
Callinan Mines Provides Exploration Update - More
- April 27, 2007 | Item | E-mail
Breakwater Resources Ltd.'s First Quarter 2007 Financial And Operating Results Conference Call - More
- April 27, 2007 | Item | E-mail
Palmarejo Siver and Gold Reports on Activities for the Quarter Ended March 31, 2007 - "Palmarejo Silver and Gold Corporation (CDNX:PJO.V - News)(the "Company") is pleased to report on the activities at its projects during the last quarter. The Company has a 100% interest over a number of tenements which all collectively comprise the Palmarejo Project and surrounding Trogan licence area. The Palmarejo project and Trogan licence area are located some 15 kilometres northwest of the town of Temoris in Chihuahua State, Mexico and extend some 16 kilometres from Tres de Mayo in the south-southeast to beyond Palmarejo in the north-northwest." More
- April 27, 2007 | Item | E-mail
Evolving Gold Corp Announces Closing of Brokered Private Placement - More
- April 27, 2007 | Item | E-mail
Northland Resources Provides Update on its Iron Projects in Sweden and Finland, 5 Drill Rigs Turning - More
- April 27, 2007 | Item | E-mail
Mega Uranium to Acquire NU Energy Uranium Corp. - More
- April 27, 2007 | Item | E-mail
Oriental Finds 0.07% U3O8 and 0.10% Molybdenum in Chip Samples at Ogchon Uranium Project While Verification Begins on 3 Historical Uranium Deposits - More
- April 27, 2007 | Item | E-mail
Paladin Resources: Takeover Bid for Summit Resources Automatic Extension of Offer Period to 11 May 2007 - More
- April 27, 2007 | Item | E-mail
Jaguar Mining Details Development Plans for Caeté Gold Project - More
- April 27, 2007 | Item | E-mail
Aurelio Acquires Major Mineral Properties in Arizona with a Total of 65 Claims and Three State Exploration Permits - More
- April 27, 2007 | Item | E-mail
Adanac Awards FFE Minerals the Order for Primary Gyratory Crusher at Ruby Creek - More
- April 27, 2007 | Item | E-mail
Anvil Mining makes Investment in Sub-Sahara Resources NL - More
- April 27, 2007 | Item | E-mail
Anvil Mining's First Quarter Results Conference Call on May 11 - More
- April 27, 2007 | Item | E-mail
Goldex Continues Work at the El Pato Project, Guatemala - More
- April 27, 2007 | Item | E-mail
Molybdenum a hit in HK - More
- April 27, 2007 | Item | E-mail
Silver Eagle Continues to Confirm Depth Extensions of Calvario Vein System - "Diamond drill hole 2007-131 intersected 537 g/t Ag Eq(1) over a core length of 21.55 metres on the north side of the Calvario Vein in the area of Martinez #1 shaft. The intercept was encountered beginning at the 354.80 metre mark of the drill hole at approximately 330 metres vertical depth below surface. Summary assay results for this hole are shown in the table below." More
- April 27, 2007 | Item | E-mail
Apogee Announces Senior Executive Changes - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) has announced changes to its executive team. Mr. David Gower, P. Geo. will be appointed Chief Executive Officer, Mr. Helio Diniz is incoming President, and Mr. Flavio Lamberti will be Vice President, Operations. Current President and CEO John Carlesso will remain on the Apogee Board of Directors, which will be expanded to 6 members to welcome the addition of David Gower." More
- April 27, 2007 | Item | E-mail
Compania de Minas Buenaventura Announces First Quarter 2007 Results - "Net income in 1Q07 was US$36.7 million, or US$0.29 per ADS, which represents a decrease of 71% when compared to 1Q06. The un-winding of 483,000 gold ounces from the hedge book in March had a one time negative net effect of US$55.0 million." More
- April 27, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 27 April, 2007 | | Discuss This Article - Comments:
