-- Posted 30 April, 2007 | | Discuss This Article - Comments:
Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $680.00 | +$1.10 |
Silver | $13.42 | -$0.01 |
XAU | 136.99 | -1.95% |
HUI | 339.60 | -1.52% |
GDM | 1077.08 | -1.90% |
JSE Gold | 2874.20 | -0.63% |
USD | 81.45 | -0.04 |
Euro | 136.61 | +0.27 |
Yen | 83.71 | +0.15 |
Oil | $65.71 | -$0.75 |
10-Year | 4.630% | -0.068 |
T-Bond | 111.75 | +0.84375 |
Dow | 13062.91 | -0.44% |
Nasdaq | 2525.09 | -1.26% |
S&P | 1482.37 | -0.78% |
The Metals:
Gold climbed over $680 in Asia before it fell back near $675 by early trade in London, but it then steadily rose for the rest of trade and ended near its high in New York with a gain of 0.16%. Silver traded mostly slightly higher in Asia and London before it fell off a bit in New York and ended with a loss of 0.07%.
Euro gold stayed under €500, platinum remained unchanged at $1,295, palladium lost $1 to $369, and copper rose roughly 5 cents to about $3.67.
Gold and silver equities fell about 1% at the open before they rose back near unchanged by early afternoon, but they then fell back off into the close and ended with over 1.5% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Personal Income | Mar | 0.7% | 0.5% | 0.7% |
Personal Spending | Mar | 0.3% | 0.5% | 0.7% |
Core PCE Inflation | Mar | 0.0% | 0.1% | 0.3% |
Chicago PMI | Apr | 52.9 | 55.0 | 61.7 |
Construction Spending | Mar | 0.2% | 0.3% | 1.5% |
Tomorrow at 10AM EST brings the ISM Index for April expected at 51.0 and Pending Home Sales for March expected at 0.4%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell as worries eased following last week’s foiled plot to attack oil facilities in Saudi Arabia.
The U.S. dollar index fell and treasuries rose as interest rates dropped following this morning’s tame Core PCE Inflation reading that reignited talk about a possible interest rate cut by the fed.
The Dow, Nasdaq, and S&P fell in late trade on mixed economic data and lackluster earnings reports.
Among the big names making news in the market today were Deutsche Boerse and ISE, Verizon, Delta, Tyson, Hilton Hotels, and Humana.
The Commentary:
“June Gold finished up 1.7 at 683.5, 0.7 off the high and 3.5 up from the low.
May Silver closed up 0.002 at 13.445. This was 0.025 up from the low and 0.055 off the high.
An inside day with a slight upward bias might have been a moral victory for the bull camp Monday, as the Dollar was initially higher, stock prices were soft and the energy complex started out weaker. In fact, gold traders might have seen the overall flow of US scheduled numbers as a negative for gold prices as economic activity was a bit disappointing and the PCE Index was unchanged and that could have hinted at a dampening of inflation. Since the gold market wasn't really seeing support from the Peru strike threat, we doubt that the decision not to join the nation wide strike by Barrick Gold's and Yanacocha workers on Monday shouldn't really add to the period weakness in gold prices.
The silver market generally outperformed the gold market throughout the session on Monday. While neither market showed that much sense of direction during the action Monday, the fact that most of the metals markets managed to rise seemed to give off the impression that the markets were getting beyond the selling binge from last week. Apparently some Peru silver mine production was idled as a result of the strikes that originated in the copper mines and that could have been the reason why silver was periodically showing more buying interest than the gold market.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Peter Schiff: What record high?
Contacts for GATA circles in Australia
Holy Dow! Market's rise tied to dollar's dive
Feds accuse E-Gold of money laundering, unlicensed banking
Join GATA at the Vancouver conference in June
James Turk: U.S. dollar in freefall
At May 10 CMRE dinner, hear the guys who figured things out first
Eric Sprott: A bull in bear's clothing
Steven Kovaka: Just say no to the silver ETF
The Statistics:
As of close of business: 4/27/2007
Gold Warehouse Stocks: | 7,603,394 | -76,734 |
Silver Warehouse Stocks: | 130,712,960 | +686,760 |
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$ 10,743m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 90.85 | 2,920,938 | US$ 1,982m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.55 | 371,008 | US$ 252m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 11.34 | 364,704 | US$ 247m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 1.1 tonnes.
COMEX Gold Trust (IAU)
Profile as of 4/27/2007 | |
Total Net Assets | $975,320,558 | 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 4/27/2007 | |
Total Net Assets | $1,800,020,326 | 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:
Peru’s mining strike, Meridian’s (MDG) new vice president of investor relations, Randgold’s (GOLD) new chief financial officer, Sterling Mining’s (SRLM.OB) completed tunnel project, and Great Panther’s (GPR.TO) legal action were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Mines Management | MGN +4.61% $4.54 |
2. Kimber Resources | KBX +4.23% $1.48 |
3. Richmont | RIC +3.09% $3.00 |
LOSERS
1. Rubicon | RBY -6.36% $2.06 |
2. Orezone | OZN -5.08% $1.87 |
3. Gammon Lake | GRS -4.83% $16.15 |
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:
Guyana Goldfields and Aranka Gold Announce the Exercise of Back-In Agreement Rights - More
- April 30, 2007 | Item | E-mail
Cameco sees higher uranium production, revenue - More
- April 30, 2007 | Item | E-mail
Golden Peaks Resources Ltd. - Amphitheatre Zone - Additional High Grade - More
- April 30, 2007 | Item | E-mail
CORRECTION FROM SOURCE: Romarco Announces Fourth Quarter Results - More
- April 30, 2007 | Item | E-mail
Gold Port Resources Drilling Update - More
- April 30, 2007 | Item | E-mail
MDN Announces Corporate Changes, Appointment of Mr. Paul-A. Girard as CEO - More
- April 30, 2007 | Item | E-mail
Soltoro Releases 2006 Audited Financial Statements and MD&A - More
- April 30, 2007 | Item | E-mail
Red Dragon Resources Corp. Announces the Sale of its Remaining Interest in its Fond du Lac Property - More
- April 30, 2007 | Item | E-mail
Peru miners' strike draws partial support - "Peru's largest mining union started a nationwide strike on Monday to demand better job benefits, affecting some mines even though workers at many of the country's top pits reported for duty as usual.
The miners' federation claimed that as many as 40,000 members had joined the strike, while some companies and the government downplayed the impact on the mining industry, which is the backbone of Peru's economy." More
- April 30, 2007 | Item | E-mail
Verena Announces Filing for 2006 Year End Results - More
- April 30, 2007 | Item | E-mail
/ CORRECTION - Aurora Gold Corporation - More
- April 30, 2007 | Item | E-mail
Great West Gold, Inc. -- Acquisition - More
- April 30, 2007 | Item | E-mail
Rusoro Mining Limited: In-Fill Diamond Drilling Confirms Continuity of High Grade Gold Zones at the SREP Project - More
- April 30, 2007 | Item | E-mail
Laramide Resources Ltd. Adopts Shareholder Rights Plan - More
- April 30, 2007 | Item | E-mail
Romarco Announces Fourth Quarter Results - More
- April 30, 2007 | Item | E-mail
Shoshone Silver Mining: Consulting Geologist on Board - More
- April 30, 2007 | Item | E-mail
Pelangio to Hold Annual Meeting May 8 - More
- April 30, 2007 | Item | E-mail
Stellar closes financing with the MineralFields Group - More
- April 30, 2007 | Item | E-mail
Tribute Contracts Environmental and Geotechnical Studies - More
- April 30, 2007 | Item | E-mail
Newfoundland Goldbar Resources Inc.: Activity Update - More
- April 30, 2007 | Item | E-mail
Yellowcake JV Receives Permit to Drill Sky Project in Fremont County, Wyoming - More
- April 30, 2007 | Item | E-mail
New Guinea Gold Announces Start of Processing at Sinivit - More
- April 30, 2007 | Item | E-mail
Elton Pereira Appointed Vice President of Exploration - More
- April 30, 2007 | Item | E-mail
Denroy Resources Completes 3rd Tranche of Private Placement - More
- April 30, 2007 | Item | E-mail
Pacifica Resources Announces 2007 Selwyn Drilling Commences in Don Valley - More
- April 30, 2007 | Item | E-mail
Galantas Files 2006 Annual Accounts & M D & A - More
- April 30, 2007 | Item | E-mail
Intrepid Reports Operating Activities for the Quarter Ended March 31, 2007 - More
- April 30, 2007 | Item | E-mail
Finlay Minerals Ltd. - Announces results of deep penetration geophysical surveys, and initial core drill program at the Silver Hope Project, central British Col - More
- April 30, 2007 | Item | E-mail
Titan Reports on Progress of Phase One Development - More
- April 30, 2007 | Item | E-mail
Candorado Operating Company Ltd.: Acquires Option on Deer and Friendly Claims, Kamloops Area British Columbia - More
- April 30, 2007 | Item | E-mail
Cusac to Drill Oro Vein Discovery at Taurus II Project - More
- April 30, 2007 | Item | E-mail
USCorp, a Junior Gold Exploration Company, Announces Posting of 2006 Annual Report To Shareholders - More
- April 30, 2007 | Item | E-mail
Azco Mining Intends to Proceed with Production of Summit Silver-Gold Project - More
- April 30, 2007 | Item | E-mail
Gemini Explorations Inc Update on La Planada Phase One Work Program-Detailed Topographical Survey Commences - More
- April 30, 2007 | Item | E-mail
Moto Goldmines Limited-Update on the Moto Gold Project - More
- April 30, 2007 | Item | E-mail
Golden China Releases March 2007 Quarterly Update Report - More
- April 30, 2007 | Item | E-mail
General Metals to Forward Split Its Common Shares on an 11 for 10 Basis - More
- April 30, 2007 | Item | E-mail
Carpathian Gold Intersects: 462 m at 1.21 g/t Au eq. at Rovina Porphyry & 235 m at 1.02 g/t Au eq. at Colnic Porphyry - More
- April 30, 2007 | Item | E-mail
Explorator Resources Intersects 65m of 2.07% Copper at El Espino - More
- April 30, 2007 | Item | E-mail
Lake Shore Receives Approval to Initiate Advanced Underground Exploration at Timmins West - More
- April 30, 2007 | Item | E-mail
Scorpio's Deep Drilling from Main Ramp Intercepts 13.60 metres grading 434 g/t Ag, 4.11% Zn, 1.26% Cu, 3.71% Pb, 0.211 g/t Au at Nuestra Senora - More
- April 30, 2007 | Item | E-mail
Scorpio Announces Change of Officer - More
- April 30, 2007 | Item | E-mail
Sierra Gold Corporation Applies for Listing On European Stock Exchange - More
- April 30, 2007 | Item | E-mail
Troy Resources NL: Quarterly Report for the Three Months Ending 31 March 2007 - More
- April 30, 2007 | Item | E-mail
Harris Exploration Inc. Announces Advanced Zone Discovery - More
- April 30, 2007 | Item | E-mail
Asian Dragon Group Provides Update On Project Luogold's Mineral Properties Indicating Multi-Million Ounce Gold and Silver Potential - More
- April 30, 2007 | Item | E-mail
Atna Reports AGM Results - More
- April 30, 2007 | Item | E-mail
Centerra Gold Reports First Quarter Earnings of $0.03 Per Share - More
- April 30, 2007 | Item | E-mail
Asia Now Files Audited 2006 Financial Results - More
- April 30, 2007 | Item | E-mail
EURO Ressources S.A. Announces Extension of Credit Facility - More
- April 30, 2007 | Item | E-mail
Paladin Resources Ltd.: Quarterly Report for Period Ending-31 March 2007 - More
- April 30, 2007 | Item | E-mail
Strathmore Receives Permit to Drill Sky Project in Fremont County, Wyoming - More
- April 30, 2007 | Item | E-mail
Alberta Star Achieves Up to a 93% Uranium Recovery Rate on Gravity Separation Methods From the Eldorado Silver & Uranium Tailings - More
- April 30, 2007 | Item | E-mail
Northwestern confirms higher-grade uranium mineralization on Niger properties; submits over-limit samples for re-analysis - More
- April 30, 2007 | Item | E-mail
Cameco Issues Correction to Q1 News Release - More
- April 30, 2007 | Item | E-mail
Cameco Reports Lower Q1 Results but Expects Much Higher 2007 Revenue - More
- April 30, 2007 | Item | E-mail
IKI Announces Claims Staked and Private Placements - More
- April 30, 2007 | Item | E-mail
Dejour Receives Approved Permits to Drill in Piceance Basin - More
- April 30, 2007 | Item | E-mail
Sterling Tunnel Completed Ahead of Schedule at Sunshine Mine - "Sterling Mining Company (OTCBB:SRLM - News) today announced that the 5,700 foot Sterling Tunnel Project at the Sunshine Mine has been completed ahead of schedule. The Sterling Tunnel begins on the west side of the Mine north of the Jewell Shaft at an elevation of 2,742 feet. It connects at a point approximately 1,200 feet below surface to the Polaris Drift-Silver Summit Tunnel which continues another 5,850 feet to the Silver Summit Shaft on the east side of the mine and then another 5,225 feet to the Silver Summit portal, or east side mine entrance." More
- April 30, 2007 | Item | E-mail
Meridian Gold Announces a Key Appointment to its Leadership Team - "Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX: MNG - News; NYSE: MDG - News) is pleased to announce the hiring of Ms. Cheryl A. Martin as its Vice President, Investor Relations. Ms. Martin will assume her responsibilities on May 14, 2007, at which time she will play a key role in increasing Meridian's visibility in the global investment community." More
- April 30, 2007 | Item | E-mail
Randgold Resources announces Directorate Change - "Jersey, Channel Islands, 30 April 2007 (LSE:RRS.L - News)(NasdaqGS:GOLD - News) - London and Nasdaq listed gold miner Randgold Resources has appointed Graham Shuttleworth as chief financial officer and financial director. Shuttleworth, who will take up his new position on 1 July 2007 is currently the New York-based head of metals and mining for the Americas in the global investment banking division of HSBC." More
- April 30, 2007 | Item | E-mail
Great Panther Resources Limited: Sociedad Cooperativa Minero Metalurgica Sante Fe Sued by Dissident Members - "GREAT PANTHER RESOURCES LIMITED (TSX:GPR - News) advises that the Company has, today, been notified by its Mexican legal counsel that five dissident members (of the three hundred and eighteen members) of the Sociedad Cooperativa Minero Metalurgica Sante Fe (the "Cooperativa") have brought legal action against the Cooperativa and its management, and have included as secondary defendants, Minera Mexicana el Rosario, S.A. de C.V. ("MMR", a subsidiary of the Company), one of its Mexican directors, Great Panther Resources (named but not served) and the General Manager of the Public Registry of Property and Commerce of Guanajuato, Mexico." More
- April 30, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 30 April, 2007 | | Discuss This Article - Comments:
