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-- Posted 15 October, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $756.90 | +$8.80 | Silver | $13.74 | -$0.03 | XAU | 179.82 | +0.44% | HUI | 418.77 | +1.31% | GDM | 1308.78 | +1.49% | JSE Gold | 2582.26 | +0.48% | USD | 78.08 | -0.13 | Euro | 142.00 | +0.24 | Yen | 85.31 | +0.19 | Oil | $86.33 | +$2.64 | 10-Year | 4.673% | -0.014 | T-Bond | 110.4375 | +0.0625 | Dow | 13984.80 | -0.77% | Nasdaq | 2780.05 | -0.91% | S&P | 1548.71 | -0.84% |
The Metals:  Gold rose steadily in Asia and London and saw over $10 gains at as high as $760.00 by midmorning in New York before it fell back off a bit into the close, but it still ended with a gain of 1.18% at a new 27 year high. Silver rose to as high as $14.005 by about 8:30AM EST in New York, but it then fell about 2% in the last four hours of trade and ended with a loss of 0.22%.
Euro gold rose to over €533, platinum gained $6 to $1421 to a new record high, palladium gained $1 to $378, and copper gained over 5 cents to about $3.73. Gold and silver equities rose over 2% at the open before they fell back off with the major indices by late morning, but they still ended with about 1% gains at new all time highs. The Economy: Report | For | Reading | Expected | Previous | NY Empire State Index | Oct | 22.8 | 14.0 | 14.7 |
Tomorrow at 9AM EST is the Net Foreign Purchases report for August and at 9:15 is Industrial Production for September expected at 0.1% and Capacity Utilization expected at 82.1%. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose about 3% to a new record high above $86 and Brent crude topped $82 on worries over rising tensions between Turkey and Kurdish rebels in Iraq. The U.S. dollar index fell back near new record lows as traders looked ahead to the meeting of the Group of Seven finance ministers later in the week. IMF Rato: IMF Analysis Signals US Dollar Still Overvalued FXSTREET Treasuries fell in early trade as the NY Empire State Index came in much better than expected, but they rose to find gains by the close as the Dow, Nasdaq, and S&P fell markedly on poor earnings reports and worries over the credit market. Among the big names making news in the market today were Danaher and Tektronix, Schwab, Bank of America, Citigroup, and Mattel. The Commentary:  “December Gold finished up 8.4 at 762.2, 3.3 off the high and 2.2 up from the low.
December Silver closed down 0.048 at 13.855. This was 0.025 up from the low and 0.255 off the high. With the Dollar down early in the session it wasn't surprising to see the gold market start out higher but it was clear that a slightly better than expected Empire State Manufacturing report prompted a temporary Dollar rally and a temporary gold market correction. However, with the market sensing some renewed financial sector concern in a rather significant US equity market slide, it seemed as if gold was benefiting from flight to quality concerns. Certainly gold was also being lifted in the wake of sharp gains in energy prices and talk that Turkey was planning to undertake military action against the Kurds in Northern Iraq. In fact, the Turkish military actually fired on a Northern Iraq village and that would seem to validate the flight to quality condition. Relatively speaking the silver market was tightly correlated with the gold market but it did seem as if silver was partially lagging behind the gold market on its latest upward thrust. With the December silver contract waffling around both side of the critical $14.00 level and eventually closing below that level, the market was not experiencing the same bullishness as gold and it is evident that the bull camp was disappointed by the technical action in silver.” - The Hightower Report, Futures Analysis and Forecasting
GATA Posts: 
Banks move to help credit markets -- or themselves? Slumping dollar puts G7 back in spotlight Unhedged Newcrest, Lihir fuel takeover talk as gold price soars Paulson is pressured by G-7 demands to aid dollar, credit markets Merv Burak: Who could afford such losses shorting gold? Jim Puplava interviews James Turk on the flight to gold Ambrose Evans-Pritchard: A scramble for exposure to global inflation Establishment's new line: Let dollar fall and it won't spark inflation Peter Grandich: Man your battle stations Gene Arensberg: Commercials in gold have never been shorter Big banks ponder creating fund to rescue mortgage-backed securities Commodities will move out of pricing in dollars, fund manager says The Statistics: As of close of business: 10/12/2007 Gold Warehouse Stocks: | 7,310,980 | +120,600 | Silver Warehouse Stocks: | 132,464,434 | -945,112 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 593.22 | 19,072,654 | US$ 14,293m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 97.89 | 3,147,194 | US$ 2,387m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.06 | 483,944 | US$ 367m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 18.21 | 585,412 | US$ 438m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX added 1.54 tones. COMEX Gold Trust (IAU) Profile as of 10/12/2007 | | Total Net Assets | $1,236,910,486 | Ounces of Gold
in Trust | 1,652,286.806 | Shares Outstanding | 16,700,000 | Tonnes of Gold
in Trust | 51.39 |
Note: Change in Total Tonnes from yesterday’s data: 0.77 tonnes were added to the trust. Silver Trust (SLV) Profile as of 10/12/2007 | | Total Net Assets | $1,978,291,976 | Ounces of Silver
in Trust | 143,481,444.700 | Shares Outstanding | 14,450,000 | Tonnes of Silver
in Trust | 4,462.77 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Yamana’s (AUY) accepted offer for Meridian (MDG) and possible dividend increase, Minco Gold’s (MGH) and Minco Silver’s (MSV.TO) appointed CFO, and U.S. Silver’s (USA.V) assay results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Metalline | MMG+11.71%$3.52 | 2. Seabridge | SA +10.34% $38.72 | 3. US Energy | USEG+8.67% $4.89 |
LOSERS 1. Minco Gold | MGH-13.73% $1.12 | 2. US Gold | UXG -6.77% $4.68 | 3. Ivanhoe | IVN -4.01% $14.37 |
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: Chapleau Resources Retains AGORACOM To Provide Investor Relations, Social Network and Google Search Engine Program - More
- October 15, 2007 | Item | E-mail
SAGE Announces Private Placement - More
- October 15, 2007 | Item | E-mail
LOUNOR EXPLORATION INC. - Private placement - More
- October 15, 2007 | Item | E-mail
Minco Gold Appoints Garnet Clark Chief Financial Officer - "Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News) is pleased to announce the appointment of Mr. Garnet Clark as Chief Financial Officer of the Company effective October 15th, 2007. Mr. Clark, a Certified Management Accountant (CMA), is a senior executive with two decades of national and international experience in the resource sector." More
- October 15, 2007 | Item | E-mail
Africo Resources signs MOU with DRC Ministry of Social Affairs - More
- October 15, 2007 | Item | E-mail
Avalon Concludes Phase 1 Drilling on Thor Lake Rare Earth Elements Target - More
- October 15, 2007 | Item | E-mail
Bolero secures large, undeveloped molybdenum property in Colorado - More
- October 15, 2007 | Item | E-mail
Bayswater Resumes Labrador Uranium Project Drilling With Two Drills - More
- October 15, 2007 | Item | E-mail
Laurion Announces Proposed Private Placement - More
- October 15, 2007 | Item | E-mail
Yamana bullish on gold, could raise dividend - "Yamana Gold Inc (YRI.TO: Quote, Profile, Research) could raise its dividend in the near future as it wraps up its C$4.5 billion takeover of Meridian Gold (MNG.TO: Quote, Profile, Research) and Northern Orion Resources (NNO.TO: Quote, Profile, Research), Chief Executive Peter Marrone told Reuters on Monday." More
- October 15, 2007 | Item | E-mail
VMS Ventures Inc.: 2nd Drill Program Planned at Reed Lake Discovery Zone, Snow Lake, Manitoba - More
- October 15, 2007 | Item | E-mail
Amerigo Announces Release of Q3 2007 Results and Investor Conference Call - More
- October 15, 2007 | Item | E-mail
Aurus Carries Out Geological Audit - More
- October 15, 2007 | Item | E-mail
New High Grade Discovery -- 113 g/tonne Over 1.5 m Drilled at Rice Lake - More
- October 15, 2007 | Item | E-mail
TEMEX Activities in the Noront Ni-Cu-PGE Discovery Area - More
- October 15, 2007 | Item | E-mail
Solitaire Minerals Corp. Commences Drilling at the Riou Lake Uranium Property, in the Athabasca Basin - More
- October 15, 2007 | Item | E-mail
Goldbelt Appoints Alex Dann as CFO - More
- October 15, 2007 | Item | E-mail
Moss Lake announces private placement for gross proceeds of up to $1,200,000 - More
- October 15, 2007 | Item | E-mail
Work to resume on Vassan gold property with aggressive 18 000 metres drilling program - More
- October 15, 2007 | Item | E-mail
Wesdome Gold Mines Ltd. - Kiena cranks up exploration effort - New structure returns 4.21 g/tAu over 14.95 metres - More
- October 15, 2007 | Item | E-mail
CCM Liquidity Report: Salazar Resources, Ltd. Experiences Strong Liquidity Expansion - More
- October 15, 2007 | Item | E-mail
Geovic Cameroon Development Progress - More
- October 15, 2007 | Item | E-mail
Western Troy Announces Final Assay Results From Summer Drilling at Macleod Lake - More
- October 15, 2007 | Item | E-mail
Overview of Romios' 2007 Summer Exploration Program - More
- October 15, 2007 | Item | E-mail
Chanaral Resources Appoints Chairman of Its Advisory Board - More
- October 15, 2007 | Item | E-mail
First Hole at Rudnitza Completed and Drilling Commences at Ceovishte - More
- October 15, 2007 | Item | E-mail
Charles Beaudry Joins Kodiak Advisory Team: Kodiak Continues Property Assembly at Hercules - More
- October 15, 2007 | Item | E-mail
PMI Gold Acquires Nevsun's Kubi Gold Project, Ghana - More
- October 15, 2007 | Item | E-mail
International Gold Resources, Inc. Announces the Discovery of a Large Manganese Target at Cupixi, Amapa State, Brazil - More
- October 15, 2007 | Item | E-mail
ABV Gold, Inc. Issues Open Letter to Shareholders - More
- October 15, 2007 | Item | E-mail
Hawk Uranium Inc. Engages IBK Capital for the Private Placement of Flow-Through Units - More
- October 15, 2007 | Item | E-mail
Latin American Minerals Reports Partial Soil Geochemical Results Identify Three Anomalous Gold Zones on its Paso Yobai Gold Project in Paraguay - More
- October 15, 2007 | Item | E-mail
Unico, Inc. Announces Approval of Amendment to Commence Large Scale Mining Operations at the Deer Trail Mine - More
- October 15, 2007 | Item | E-mail
Drilling on GoldMountain's Yoquivo Property Continues to Intersect High Grade Silver-Gold Mineralization - More
- October 15, 2007 | Item | E-mail
Explorator Announces New Interpretation of Gold Results and Exploration Program to Define Gold Resource at El Espino-Venus - More
- October 15, 2007 | Item | E-mail
Alberta Star Intersects 24.75 Metres of High Grade 2.50% Lead, 0.49% Copper, 0.31% Zinc and 26.5 g/ton Silver at Echo Bay - More
- October 15, 2007 | Item | E-mail
Nevoro Inc. Appoints William Schara to President, CEO and Director, Victor Bradley to Become Executive Deputy Chairman - More
- October 15, 2007 | Item | E-mail
Adex Mining Signs Drilling Contract for Mount Pleasant - More
- October 15, 2007 | Item | E-mail
Additional Significant Drilling Results, Normabec Cuts 450.7 g/t Ag Over 5.23 Metres at the Real de Catorce Silver Mining District in Mexico - More
- October 15, 2007 | Item | E-mail
Cadiscor Stakes the Florence Property - More
- October 15, 2007 | Item | E-mail
Luiri Gold in Discussions With JV Partner on the Nambala Iron Project - More
- October 15, 2007 | Item | E-mail
Inter-Citic Reports on 34 Diamond Drill Holes at Dachang Including a Best Result of 28 Metres Containing 6.77 GPT Gold - More
- October 15, 2007 | Item | E-mail
Project Manager joins Golden Goose to lead Lac Levac Exploration - More
- October 15, 2007 | Item | E-mail
Aberdeen International Completes Investments in Virginia Uranium and Buchanan Energy - More
- October 15, 2007 | Item | E-mail
Avnel Gold Receives Recommendations for Extensive Drill Program to Investigate Exceptional Gold Anomalies at its Fougadian Exploration Permit, South Mali - More
- October 15, 2007 | Item | E-mail
Alexis Advances Gold Bulk Sample at Lac Herbin-Exploration Identifies New Gold Zone Returning Up to 65.9 g Au/t Over 1.9 Metres (1.92 Ounces Over 6.2 Feet) - More
- October 15, 2007 | Item | E-mail
Thompson Creek Posts New Report on 'Expanded Uses of Molybdenum in the Energy Industry' - More
- October 15, 2007 | Item | E-mail
Vast Exploration Inc. Appoints Ahmed S. Said as President and Chief Executive Officer - More
- October 15, 2007 | Item | E-mail
Aquentium Accepting Applications for Geologist for Uranium Exploration and Mining - More
- October 15, 2007 | Item | E-mail
Bullard Pass Gold Exploration Increases Enzyme Leach Sampling to 1000 - More
- October 15, 2007 | Item | E-mail
GobiMin Announces Proposed IPO of Its Subsidiary in the People's Republic of China ("China") - More
- October 15, 2007 | Item | E-mail
Ravannack appointed as CEO of Goldex Resources - More
- October 15, 2007 | Item | E-mail
Canasia to acquire interest in 26,653 hectares in Reed Lake, Manitoba - More
- October 15, 2007 | Item | E-mail
Minco Silver Appoints Garnet Clark Chief Financial Officer - "Minco Silver Corporation (the "Company" or "Minco Silver") (Toronto:MSV.TO - News) is pleased to announce the appointment of Mr. Garnet Clark as Chief Financial Officer of the Company effective October 10th, 2007. Mr. Clark, a Certified Management Accountant (CMA), is a senior executive with two decades of national and international experience in the resource sector." More
- October 15, 2007 | Item | E-mail
Sparton Resources Inc.: First Yellowcake Produced From Xiaolongtang Cola Ash, China-Test Work Continues - More
- October 15, 2007 | Item | E-mail
Universal Uranium Ltd. and Silver Spruce Resources Inc.: Third Phase Drill Program Update - More
- October 15, 2007 | Item | E-mail
Crescent Resources Drilling Finds Uranium Rollfront at Oviedo Project Paraguay - More
- October 15, 2007 | Item | E-mail
U.S. Silver Corporation Reports 5.6 Feet Grading 14.25 opt Silver and 21.2% Lead from Galena Mine Exploration - "U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company") is pleased to announce significant silver and lead assay results from the most recent phase of diamond drilling on the 3400 level at the Galena mine. Multiple silver-lead veins have been identified in this drilling program. The best intercept in the recently received assays is from hole 34-111 which had 5.6 feet (true thickness) (1.71 m), grading 14.25 ounces silver per ton (opt) (489 g/t) and 21.21 percent lead." More
- October 15, 2007 | Item | E-mail
Yamana Gold's Tender Offer for Meridian Gold Successfully Accepted by Shareholders; Yamana and Meridian Provide Combined Third Quarter Operational Highlights - "YAMANA GOLD INC. (Toronto:YRI.TO - News)(NYSE:AUY - News)(LSE:YAU.L - News) and MERIDIAN GOLD INC. (Toronto:MNG.TO - News)(NYSE:MDG - News) today announced that as of the tender deadline on October 12, 2007, 79,873,250 common shares of Meridian Gold had been validly deposited to Yamana's offer to acquire all of the outstanding shares of Meridian. Yamana has taken up and accepted for payment all of these shares, which represent approximately 78 percent of the common shares of Meridian on a fully diluted basis. Yamana will pay for these shares promptly." More
- October 15, 2007 | Item | E-mail
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-- Posted 15 October, 2007 | |
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