-- Posted 13 July, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $666.00 | -$0.70 | +2.07% |
Silver | $13.02 | -$0.07 | +3.01% |
XAU | 151.06 | +0.18% | +4.18% |
HUI | 356.82 | -0.07% | +1.19% |
GDM | 1123.63 | +0.07% | +2.28% |
JSE Gold | 2687.36 | +1.52% | +6.39% |
USD | 80.58 | -0.06 | -1.06% |
Euro | 137.89 | +0.03 | +1.23% |
Yen | 81.92 | +0.22 | +1.05% |
Oil | $73.93 | +$1.43 | +1.54% |
10-Year | 5.107% | -0.009 | -1.62% |
Bond | 106.96875 | +0.125 | +0.82% |
Dow | 13907.25 | +0.33% | +2.17% |
Nasdaq | 2707.00 | +0.20% | +1.52% |
S&P | 1552.50 | +0.31% | +1.44% |
The Metals:
CoT Reports: Gold | Silver
Gold remained near unchanged in Asia, traded about a dollar higher in London, and fell off a few dollars to as low as $663.60 by late morning in New York before it rallied back higher into the close, but it still ended with a loss of 0.10%. Silver rose near $13.15 in London before it dropped to $12.97 in New York and then bounced back higher into the close to end with a loss of 0.53%.
Euro gold fell near €483, platinum lost $5 to $1,310, palladium lost $1 to $366, and copper gained roughly 3 cents to about $3.58.
Gold and silver equities remained near unchanged throughout trade and closed mixed.
The Economy:
Report | For | Reading | Expected | Previous |
Import Prices | June | 1.0% | 0.7% | 1.1% |
Import Prices ex-oil | June | 0.2% | - | 0.5% |
Export Prices | June | 0.3% | 0.3% | 0.2% |
Export Prices ex-ag. | June | 0.1% | - | 0.2% |
Retail Sales | June | -0.9% | 0.0% | 1.5% |
Retail Sales ex-auto | June | -0.4% | 0.2% | 1.6% |
Business Inventories | May | 0.5% | 0.3% | 0.4% |
Michigan Sentiment | July | 92.4 | 86.0 | 85.3 |
All of this week’s economic reports:
Next week’s economic highlights include the NY Empire State Index on Monday, PPI, Net Foreign Purchases, Capacity Utilization, and Industrial Production on Tuesday, CPI, Housing Starts, and Building Permits on Wednesday, and Initial Jobless Claims, Leading Economic Indicators, the Philadelphia fed survey, and FOMC minutes on Thursday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose about 2% to a new 11 month high on supply disruptions in the North Sea and an IEA report expecting demand growth.
The U.S. dollar index fell yet again to a new record low versus the euro and treasuries rose despite stronger than expected consumer sentiment as Retail Sales came in weaker than expected and dampened views about the health of the U.S. economy overall.
The Dow and S&P rose to new record highs and the Nasdaq rose to a new 6 and ˝ year high on takeover activity and optimism over earning reports due out next week.
Among the big names making news in the market Friday were Hovnanian, Alcoa, Energizer and Playtex, GE, and Barclays and ABN Amro.
The Commentary:
“Having gold end the week holding its gains is a good signal for next week’s trading. Upside bias should prevail under continuously strong oil prices and a US Dollar hanging on for dear life at the massive support below. Gold could potentially have another great week ahead, although a rebound in the US Dollar along with a falling oil price could damper prospects. Otherwise talk of $700 shall reemerge.”- Peter Spina, www.goldforecaster.com
“August Gold finished down 1 at 667.3, 2.4 off the high and 2.8 up from the low.
September Silver closed down 0.07 at 13.11. This was 0.03 up from the low and 0.1 off the high.
After a somewhat rocky start the gold market managed to climb back toward unchanged just after mid session on Friday. In other words, the early weak scheduled US numbers seemed to undermine the gold trade, but the bull camp was evidently capable of battling back. Perhaps the strength in the equity market, strength in oil prices and the up tick in the Michigan sentiment readings provided the impetus for the bounce, but the bear camp has to leave the week with less confidence than they entered the week. In fact, with the Dollar definitively weak, it would seem like the bull camp in gold has at least one factor expected to remain in their favor.
It's not too surprising to see silver pull back on what looks to be end of the week profit taking given the market's stellar price gains so far this month. The weak Retail Sales data and early weakness in copper may have inspired some traders to book profits. However, the environment for metals remains positive with gains in the stock market reaching record levels this week, sharply higher crude oil prices and sub-prime mortgage uncertainty improving the attractiveness of hard assets. Also, with the Dollar continuing on a downward path, Friday's price pullback in silver certainly appears to be a pause in the upward action.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Ambrose Evans-Pritchard: With no serious rivals except gold, dollar won't collapse
John Embry: 'Sovereign wealth' funds will support gold
Spain seizes U.S. treasure-hunting boat off Gibraltar
Qatar's gold reserves up 1,500% in year
Kuwait again lets dinar rise to reflect dollar's decline
Class action charges Amaranth, Morgan with manipulating natgas
The Statistics:
As of close of business: 7/12/2007
Gold Warehouse Stocks: | 7,129,799 | - |
Silver Warehouse Stocks: | 135,782,538 | + 599,672 |
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 | 484.84 | 15,588,081 | US$ 10,400m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 93.11 | 2,993,524 | US$ 1,998m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 12.28 | 394,372 | US$ 264m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 13.43 | 431,678 | US$ 288m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX added 3.69 tonnes. This makes for an addition of 20.62 tonnes to Streettracks Gold Shares compared to last Friday’s data.
COMEX Gold Trust (IAU)
Profile as of 7/12/2007 | |
Total Net Assets | $983,688,860 | Ounces of Gold
in Trust | 1,475,649.875 |
Shares Outstanding | 14,900,000 | Tonnes of Gold
in Trust | 45.90 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 7/12/2007 | |
Total Net Assets | $1,802,186,677 | Ounces of Silver
in Trust | 139,186,961.000 |
Shares Outstanding | 14,000,000 | Tonnes of Silver
in Trust | 4,329.20 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Victory Nickel’s (NI.TO) desire to bid for Rio Narcea (RNO), Yale’s (YLL.V) exploration program, Great Panther’s (GPR.TO) closed private placement, Revett’s (RVM.TO) production improvements, and Arian’s (AGQ.V) TV channel were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Mines MGMT | MGN +4.04% $4.12 |
2. Taseko Mines | TGB +3.55% $4.38 |
3. Nevsun Resources | NSU +2.94% $2.80 |
LOSERS
1. Apex Silver | SIL -3.42% $20.07 |
2. Eldorado Gold | EGO -3.09% $5.02 |
3. Endeavour Silver | EXK -2.88% $5.06 |
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:
VVC Exploration terminates Uranium Prospect Acquisition - More
- July 13, 2007 | Item | E-mail
Yale Reports Initial Success at Carol, Sonora, Mexico - "Yale Resources Ltd. (CDNX:YLL.V - News) (Frankfurt:YAB.F - News) is pleased to announce that phase one of the exploration program of its wholly owned Carol property, located in southern Sonora State, Mexico has been successfully completed. Phase one consisted of a wide spaced sampling program with the goal of narrowing the exploration area for future work programs." More
- July 13, 2007 | Item | E-mail
Roxmark announces further drilling results at Northern Empire Gold Mine Property - More
- July 13, 2007 | Item | E-mail
Bootes Relationship With Hidalgo Mining International (Pink Sheets: HMIT) Terminated Resulting from Investigations by the Board into His Undisclosed Activities - More
- July 13, 2007 | Item | E-mail
Bulgarian Supreme Administrative Court Issues Final Ruling in Favour of DPM's Krumovgrad Claim and Instructs MoEW to Issue EIA Decision - More
- July 13, 2007 | Item | E-mail
Great Western Minerals Group Ltd.: Private Placement Arranged - More
- July 13, 2007 | Item | E-mail
Buffalo Gold and Sargold Propose Merger - More
- July 13, 2007 | Item | E-mail
Starfire Increases Private Placements and Closes First Tranche - More
- July 13, 2007 | Item | E-mail
High grade zinc discovery by Goldstake on McGarry project, Ontario, Canada - More
- July 13, 2007 | Item | E-mail
Great Panther Closes $4.05 Million Convertible Loan Notes Placement - "GREAT PANTHER RESOURCES LIMITED (Toronto:GPR.TO - News) ("the Company") has closed the private placement of $4.05 million Convertible Loan Notes announced on July 4, 2007. The Notes are unsecured, bear interest at 8% per annum, payable quarterly, and mature on July 14, 2011. Prior to or on maturity the principal amount of the Notes or any portion thereof is convertible into common shares of the Company at the conversion price of $2.25 per share." More
- July 13, 2007 | Item | E-mail
Arianne Starts Drilling On Opinaca, James Bay - More
- July 13, 2007 | Item | E-mail
Robex - 43-101 Resource Calculation on Nampala : 760,000 oz of Gold - More
- July 13, 2007 | Item | E-mail
Kinbauri Receives TSXV Final Approval for Acquisition of Rio Narcea Gold-Copper Assets - More
- July 13, 2007 | Item | E-mail
First Narrows Continues to Increase Size of Susana D'Oro Property in Sonora, Mexico - More
- July 13, 2007 | Item | E-mail
Royal Standard Announces Grant of Options - More
- July 13, 2007 | Item | E-mail
Raven Gold Corp. announces today that a second load of concentrate totalling approximately 6.5 tonnes have been delivered to the smelter in Torreon - More
- July 13, 2007 | Item | E-mail
Maxy Gold Corp Reports Positive Results from Tunnel Exploration on Midu Property - More
- July 13, 2007 | Item | E-mail
La Currita Mill Ships Second Load of Concentrate and Increases Recovery Rates - More
- July 13, 2007 | Item | E-mail
Victory Nickel Comments on Bidding Process for Rio Narcea Gold - "Victory Nickel Inc. ("Victory Nickel")(Toronto:NI.TO - News) has been working diligently over the past several months to finance a competing bid to the offer (the "Lundin Offer") made by Lundin Mining Corporation ("Lundin"), a diversified copper, zinc and lead producer, to purchase all of the outstanding shares of Rio Narcea Gold Mines, Ltd. ("Rio")." More
- July 13, 2007 | Item | E-mail
AUR RESOURCES INC. ANNOUNCES RESTATEMENT OF OTHER COMPREHENSIVE INCOME - More
- July 13, 2007 | Item | E-mail
Idaho General Mines Announces Departure of Robert L. Dumont - More
- July 13, 2007 | Item | E-mail
Cadiscor Resources Announces $3.3M Private Placement Financing - More
- July 13, 2007 | Item | E-mail
Moly Mines Reports Spinifex Ridge Feasibility Study Almost Ready - More
- July 13, 2007 | Item | E-mail
Alexis Minerals Receives Conditional Approval for Toronto Stock Exchange Listing - More
- July 13, 2007 | Item | E-mail
/C O R R E C T I O N from Source -- Golden Goose Resources Inc./ - More
- July 13, 2007 | Item | E-mail
EurOmax Closes Property Acquisitions in Macedonia and Serbia - More
- July 13, 2007 | Item | E-mail
Revett Minerals Inc. Reports on Troy's Continuing Production Improvements - "Revett Minerals Inc. (TSX-RVM) ("Revett" or the "Company") is pleased to report on the continuing improvement in the operating performance of its 67% owned Troy Mine ("Troy") located in northwest Montana. With the very strong copper and silver prices and the improving metal production at Troy, the Troy Mine is beginning to generate good levels of cash on a monthly basis." More
- July 13, 2007 | Item | E-mail
Arian Silver TV Channel - "The Arian Silver TV Channel will enable our investors and potential shareholders to see at first hand the developments that are being made at our various project sites and will be updated on a six-monthly basis." More
- July 13, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 13 July, 2007 | |
