|
-- Posted 27 November, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $813.80 | -$12.50 | Silver | $14.46 | -$0.35 | XAU | 168.97 | -0.32% | HUI | 413.62 | -0.56% | GDM | 1268.04 | -0.62% | JSE Gold | 2585.08 | +0.96% | USD | 75.13 | +0.30 | Euro | 148.33 | -0.27 | Yen | 92.02 | -0.49 | Oil | $94.42 | -$3.28 | 10-Year | 3.944% | +0.097 | T-Bond | 117.625 | -1.15625 | Dow | 12958.44 | +1.69% | Nasdaq | 2580.80 | +1.57% | S&P | 1428.23 | +1.49% |
The Metals:  Gold rose to as high as $829.20 in Asia before it fell throughout most of trade in London and New York and dropped to as low as $807.35 by about noon EST, but it did rebound a bit in afternoon trade and closed over $6 off its low with a loss of 1.51%. Silver dropped to as low as $14.28 by about noon EST, but it also rallied back higher in afternoon trade and ended over 1% off its low with a loss of 2.36%.
Euro gold fell to about €548, platinum lost $24 to $1443, palladium lost $2 to $351, and copper fell over 6 cents to about $2.98. Gold and silver equities fell over 2% in the first hour of trade and then rebounded back near unchanged by late morning before they fell back near their lows in mid-afternoon trade, but they then rallied back higher into the close and ended with only about 0.5% losses. Central bank gold sales chart shows inverted parabola Resource Investor The Economy: Report | For | Reading | Expected | Previous | Consumer Confidence | Nov | 87.3 | 91.5 | 95.6 |
Consumer Confidence showed the lowest reading since October 2005 after Hurricane Katrina. The S&P/Case-Shiller's index showed National home prices fell 4.5% compared to a year ago which was the most since record keeping started in 1988. The fed’s Plosser also came out with comments expecting weaker economic data ahead along with increased inflationary pressures due to recent rate cuts. He also expressed caution about lower interest rates in the future. Tomorrow at 8:30AM EST brings Durable Goods Orders for October expected at 0.0%. At 10AM is the Existing Home Sales report for October expected at 5.00 million and at 2PM is the release of the fed’s Beige Book.
Today's Gold Seeker Report Is Sponsored By:
Starcore International is a gold and silver producer in Mexico and a 'Tier One' company listed on the TSX-V under the symbol SAM. The San Martin Gold mine was acquired January 2007 from Goldcorp Inc. It is located about 50 km east of the City of Querétaro in Querétaro State, a few hours drive from Mexico City. The company currently retains an 80 to 20 joint venture agreement with Goldcorp. Inc. in the development of the Cerro Dolores, El Transito Deposit 190 km south - southwest of Mexico City. The El Transito Deposit is a silver-lead-zinc replacement orebody defined by over $US 2 million in development expenditures Click Here to Learn More... |
The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell markedly to under $95 on rumors that OPEC will increase production at their meeting next week. A higher dollar, worries over weak economic growth, and speculation about a strong inventories report tomorrow also added to the bear case. The U.S. dollar index rebounded slightly and treasuries cut into most of yesterday’s impressive gains on increased confidence in the financial sector as Citigroup received a $7.5 billion cash injection from the Abu Dhabi government. The Dow, Nasdaq, and S&P rose on falling oil and easing credit market worries in technical trade as the Dow bounced off its 10% correction level hit yesterday. Among the big names making news in the market today were Verizon, Citigroup, Staples, and American Eagle. The Commentary:  “December Gold finished down 12.5 at 814, 3.2 off the high and 6 up from the low.
December Silver closed down 0.345 at 14.485. This was 0.185 up from the low and 0.065 off the high. Gold traded sharply lower on Tuesday as selling in the precious metals seemed to be part of a liquidation wave across a broad range of commodity markets. A rebound in the Dollar was certainly a key factor encouraging profit taking in gold this session. Reports that Citigroup was selling a portion of the company to the Abu Dhabi government seemed to ease some anxiety surrounding the subprime mortgage/credit crunch fallout which likely convinced some recent flight to safety buyers of gold to exit positions. A sharp break in crude oil on ideas OPEC will raise production again next month added to the selling pressure on lower inflation expectations. The gold market couldn't garner any support from a rebound in equity prices perhaps since consumer sentiment sank this month which seems to support recent concerns the economy is headed for a recession. With the market in a liquidation mode, news South Africa's National Union of Mineworkers are planning a one day strike on Dec 4th had negligible impact. Dec silver was also part of a broad commodity liquidation wave on Tuesday. The weaker action in gold and crude oil combined with a stronger Dollar made for bearish outside market influences. Dec silver's failure to push through $15 on Monday may also be encouraging some traders to take profits. The market now looks to be in a position to test the bottom end of the recent consolidation range near $14. To a certain degree, we suspect all the recent economic recession talk may also be souring sentiment in the silver market.”- The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
Ted Butler: Sheer speculation? Another rescue from the Middle East for Citigroup You'll find your fortune falling all over town ... Dimitri Speck: Gold's strange behavior during financial crisis The Statistics: As of close of business: 11/26/2007 Gold Warehouse Stocks: | 7,361,439 | - | Silver Warehouse Stocks: | 133,118,111 | +453,921 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 591.20 | 19,007,606 | US$ 15,772m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 96.92 | 3,116,115 | US$ 2,532m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.86 | 509,609 | US$ 414m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 18.94 | 608,856 | US$ 489m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX added 2.46 tonnes. COMEX Gold Trust (IAU) Profile as of 11/26/2007 | | Total Net Assets | $1,437,478,325 | Ounces of Gold
in Trust | 1,740,769.772 | Shares Outstanding | 17,600,000 | Tonnes of Gold
in Trust | 54.14 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 11/26/2007 | | Total Net Assets | $2,163,645,112 | Ounces of Silver
in Trust | 145,408,391.000 | Shares Outstanding | 14,650,000 | Tonnes of Silver
in Trust | 4,522.71 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: A miner strike in South Africa set for December 4th, Barrick’s (ABX) Pascua Lama gold play and upcoming development estimate update for Donlin Creek, Taseko’s (TGB) comments on a recent court decision, ITH’s (THM) expanded target, Apollo Gold’s (AGT) expanded land position at Black Fox, Gold Fields’ sold project stake in Essakane and acquired interest in Orezone (OZN), Coeur’s (CDE) PROXY Governance recommendation, Endeavour’s (EXK) acquired properties, MAG Silver’s (MVG) closed private placement, and Silver Quest’s (SQI.V) drill results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. NovaGold | NG +5.49% $10.00 | 2. Tanzanian Royalty | TRE +2.71% $6.44 | 3. Royal Gold | RGLD +2.42 $30.10 |
LOSERS 1. Seabridge | SA-8.54% $24.85 | 2. ITH | THM-6.63% $1.69 | 3. Almaden | AAU-6.25% $2.40 |
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: Chile Pascua Lama gold play still facing tax issue - "The world's top gold miner, Barrick Gold Corp, may have to wait until mid-2008 for Chile and Argentina to agree how to share taxes from the giant Pascua Lama mine, a government source said on Tuesday.
Barrick (ABX.TO: Quote, Profile, Research) needs a deal before it can start building the $2.4 billion mine, which straddles the snow-capped peaks of the Andes that separate the two countries and has already faced protests from green campaigners and delays on receiving environmental permits." More
- November 27, 2007 | Item | E-mail
GLR Resources Inc. Completes Flow-Through Share Financing - More
- November 27, 2007 | Item | E-mail
Final Borealis uranium results - Additional staking completed - More
- November 27, 2007 | Item | E-mail
Explor Resources: New Management - More
- November 27, 2007 | Item | E-mail
Zab to Commence Trading in Canada on the CNQ - More
- November 27, 2007 | Item | E-mail
East Delta Completes Funding Required to Restart Huaqiao Gold Mine - More
- November 27, 2007 | Item | E-mail
Canasia Closes Private Placement - More
- November 27, 2007 | Item | E-mail
Final Prospectus Filed Regarding Spin-Off of Pro Minerals Inc. and IPO - More
- November 27, 2007 | Item | E-mail
Kodiak Closes $53.9 Million Bought Deal Financing - More
- November 27, 2007 | Item | E-mail
Barrick's C$4 bln Donlin estimate to get '08 update - "Barrick Gold Corp (ABX.TO: Quote, Profile, Research) reiterated on Tuesday it estimates the cost of developing the Donlin Creek gold project in Alaska, which it jointly owns with NovaGold Resources (NG.TO: Quote, Profile, Research), would be in the range of C$3.8 billion to C$4 billion." More
- November 27, 2007 | Item | E-mail
American Uranium Acquires Historic Reno Creek Drill Data - More
- November 27, 2007 | Item | E-mail
Taseko Mines Comments on Recent Court Decision Regarding Aboriginal Title - "The William decision, released by the Supreme Court of British Columbia on November 21, 2007, has provided increased certainty for the Company's 100% owned Prosperity gold-copper project." More
- November 27, 2007 | Item | E-mail
Dominion Minerals Corp. Announces a C$4,000,000 Private Placement - More
- November 27, 2007 | Item | E-mail
Little Squaw Opens Gold Exploration in Mexico - More
- November 27, 2007 | Item | E-mail
Sulliden announces interim exploration results from 2007 drilling program - More
- November 27, 2007 | Item | E-mail
ITH Expands SE Chisna Porphyry Copper-Gold Target - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (CDNX:ITH.V - News)(AMEX:THM - News)(Frankfurt:IW9.F - News) is pleased to announce that a recently completed airborne geophysical survey and geochemical sampling program indicates that the Chisna SE Copper Porphyry target now covers an area of at least 3 square kilometres. The target remains open to the south and east (Figure 1)." More
- November 27, 2007 | Item | E-mail
New Gold-Silver System Discovered at Las Minitas, Mexico - More
- November 27, 2007 | Item | E-mail
Goldeye and Polar Star Intersect 8.29 g/t Au and 2.41% Cu Over 1.99 Metres on the Todd Creek Project, B.C. - More
- November 27, 2007 | Item | E-mail
Cabo expands drilling services into Nevada - More
- November 27, 2007 | Item | E-mail
PROXY Governance Recommends Coeur Shareholders Vote ''FOR'' Proposals Relating to Pending Acquisitions - "Coeur d’Alene Mines Corporation (NYSE: CDE - News) (TSX: CDM - News) today announced that PROXY Governance Inc., a leading independent proxy advisory firm, has recommended that Coeur shareholders vote “FOR” the proposals related to the acquisition of Bolnisi Gold NL (ASX: BSG - News) and Palmarejo Silver and Gold Corporation (TSX-V: PJO - News) at the Company’s Special Meeting of shareholders scheduled for Monday, December 3, 2007." More
- November 27, 2007 | Item | E-mail
Spruce Ridge Intersects 1.5 m of 5.9 g/t Au within 4.7 m of 2.5 g/t Au in First Hole Drilled at Nora Lake - More
- November 27, 2007 | Item | E-mail
Threegold Resources Increases Private Placement With Desjardins Securities to $5 Million - More
- November 27, 2007 | Item | E-mail
Altius Announces Normal Course Issuer Bid - More
- November 27, 2007 | Item | E-mail
Significant Gold-Silver System Discovered at Las Minitas, Mexico - More
- November 27, 2007 | Item | E-mail
New Horizon Uranium Corporation Announces Formation of Eagle Geophysical Logging LLC with Mesa Uranium Corp. - More
- November 27, 2007 | Item | E-mail
Yale Reports Follow-Up Sampling From Carol Project, Mexico - More
- November 27, 2007 | Item | E-mail
Northern Gold Mining Inc. (NGM) Commences Trading on the TSXV. - More
- November 27, 2007 | Item | E-mail
Canadian Arrow Mines Ltd. Options Two More Nickel Copper Properties and Connects Land Position to Glatz Property - More
- November 27, 2007 | Item | E-mail
Avalon Announces New Board Appointment and Grants of Incentive Stock Options - More
- November 27, 2007 | Item | E-mail
Thompson Creek to list on New York Stock Exchange - More
- November 27, 2007 | Item | E-mail
Planned Reforms to Bolivia's Mining Tax Code Not Expected to Seriously Affect Franklin's Joint-Venture and Partnership Agreements - More
- November 27, 2007 | Item | E-mail
Brasov Regional Court of Appeal Annuls Archeological Discharge Certificate No. 4/2004 - More
- November 27, 2007 | Item | E-mail
Copper Fox Continues Development of Its Schaft Creek British Columbia Mineral Deposit - More
- November 27, 2007 | Item | E-mail
Eaglecrest Increases San Simon Land Holdings - More
- November 27, 2007 | Item | E-mail
Happy Creek Minerals Ltd. Discovers Large Scale Tungsten Molybdenum System - More
- November 27, 2007 | Item | E-mail
Katanga Starts Luilu Metallurgical Plant on Schedule - More
- November 27, 2007 | Item | E-mail
Puma Exploration Inc. Announces a $6 Million Financing - More
- November 27, 2007 | Item | E-mail
Sarissa Resources Inc. Is Pleased to Announce the Acquisition of 1,150 Acres in Timmins Township, Northern Ontario - More
- November 27, 2007 | Item | E-mail
Northland Appoints Atkins as Project Development Manager - More
- November 27, 2007 | Item | E-mail
VenCan Gold Acquires High-Grade Atikokan Area Gold Property; Diamond Drilling Planned for Spring 2008 - More
- November 27, 2007 | Item | E-mail
Labrador Iron Mines Holdings Limited Announces Filing of Final Prospectus, Approval of Listing on Toronto Stock Exchange under the Ticker Symbol - "LIR" - More
- November 27, 2007 | Item | E-mail
Mercator Minerals goes hostile in bid for Tyler - More
- November 27, 2007 | Item | E-mail
More exciting results at Mahala Creek, Jerritt Canyon - More
- November 27, 2007 | Item | E-mail
Nevoro Provides Project Update: Drilling Underway at St. Elmo, Targets Defined at Dome Hill, Idaho Project Staked - More
- November 27, 2007 | Item | E-mail
Hinterland stakes entire Utik Lake Greenstone Belt, Manitoba - More
- November 27, 2007 | Item | E-mail
Geoinformatics' Mexican Joint Venture Drills Widespread Molybdenum - More
- November 27, 2007 | Item | E-mail
Adex Mining Signs Contract for Second Drill Rig at Mount Pleasant - More
- November 27, 2007 | Item | E-mail
Sirios Resources Inc./Upinor: Part of a Potential New Uranium District in Quebec - More
- November 27, 2007 | Item | E-mail
Everton Commences Core-Drilling Program at Jobo Claro, Pueblo Viejo District, Dominican Republic - More
- November 27, 2007 | Item | E-mail
J.P. Morgan Securities Inc. Signs on with Noront Resources Ltd. - More
- November 27, 2007 | Item | E-mail
International Minerals Reports Impressive Drill Results at Pallancata Mine, Peru, Including an Intercept of 20m at 760 g/t Silver and 3.5 g/t Gold - More
- November 27, 2007 | Item | E-mail
Midland Exploration Acquires Uranium Prospective Properties in the James Bay Region - More
- November 27, 2007 | Item | E-mail
Midlands Intersects 23 Meters Grading 2.5 g/t at Depth on Sian-Ghana - More
- November 27, 2007 | Item | E-mail
Mercator Responds to Tyler Circular - More
- November 27, 2007 | Item | E-mail
Farallon Announces Bought-Deal Public Offering & Private Placement Financing to Raise Up to CDN$25 Million - More
- November 27, 2007 | Item | E-mail
Extract Resources Limited: Best Results to Date From Garnet Valley on the Husab Uranium Project, Namibia - More
- November 27, 2007 | Item | E-mail
General Metals Update: Wilson Independence Phase 1 Drilling Encounters High Grade, Near Surface Mineralization - More
- November 27, 2007 | Item | E-mail
MPH Ventures Corp.: Confirmation Drilling Begins on Moly Deposit, NW Ontario NI 43-101 Report Received From Wardrop Engineering - More
- November 27, 2007 | Item | E-mail
Osisko Geochemical Test Work Returns Positive Results on Canadian Malartic Ore - More
- November 27, 2007 | Item | E-mail
Promising IP Results From Lac Truite Nickel-Copper Prospect Warrant Follow Up - More
- November 27, 2007 | Item | E-mail
INV Continues Aggressive Growth Plans With Acquisition of Highly Prospective Nickel Property in Brazil - More
- November 27, 2007 | Item | E-mail
Ecometals Reports Encouraging Drill Results for Condor Project, Provides Status Update on Rio Zarza Project - More
- November 27, 2007 | Item | E-mail
South African miners to strike on Dec. 4 - "Almost a quarter of a million workers will strike on Dec. 4 in a one-day protest against deaths in South Africa's mines, bringing to a halt production in the world's biggest producer of gold and platinum.
The National Union of Mineworkers (NUM) said on Tuesday it had been given the green-light by authorities for a national strike by about 240,000 workers that would also be the first such protest on safety." More
- November 27, 2007 | Item | E-mail
Klondex to Highlight Nevada Gold Exploration Progress at Academy & Finance Investment Conferences in Geneva November 29th and in Zurich December 3rd - More
- November 27, 2007 | Item | E-mail
Endeavour Acquires El Milache Properties Along Trend From Porvenir Mine - Guanacevi District, Durango, Mexico - "Endeavour Silver Corp. (EDR: TSX, EXK: AMEX and EJD: DBFrankfurt) announces the acquisition of an option to purchase the El Milache properties along the trend of the Santa Cruz silver vein approximately 2 km northwest of the Porvenir Mine, part of Endeavour's Guanacevi Mines Project in Durango, Mexico." More
- November 27, 2007 | Item | E-mail
Advanced Explorations Inc. Closes Additional $2,830,000 in Flow Through Financing - More
- November 27, 2007 | Item | E-mail
Updated Gemini Explorations Report Discusses Increased Cash Flow Projections - More
- November 27, 2007 | Item | E-mail
Fission Energy Identifies Significant Anomaly at Waterbury Lake Uranium Project - More
- November 27, 2007 | Item | E-mail
East Asia Minerals Drills More Uranium at Enger, Mongolia, and Summarizes 2007 Uranium Program Highlights - More
- November 27, 2007 | Item | E-mail
MAG Silver Closes Cdn$46.5 Million Bought Deal Private Placement - "MAG Silver Corp. (Toronto:MAG.TO - News)(AMEX:MVG - News) ("MAG" or the "Company") announces the closing of the previously announced bought deal private placement for 3,000,000 common shares (the "Common Shares") of MAG Silver at a price of Cdn$15.50 per Common Share (the "Issue Price") for gross proceeds of Cdn$46,500,000 (the "Offering")." More
- November 27, 2007 | Item | E-mail
Silver Quest Resources Ltd.: Initial Drill Results from the Santa Rosa Property Return Significant Silver Intercepts - "Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI - News) is pleased to report significant initial assay results from its recently completed twenty hole reverse-circulation ("RC") drill hole program at the Santa Rosa silver-lead property located approximately 175 kilometres east of Hermosillo in the state of Sonora, Mexico. The Company has a right to earn a 100% interest in the property (see June 14, 2006 news release)." More
- November 27, 2007 | Item | E-mail
Apollo Gold Expands Its Land Position at the Black Fox Project - "Apollo Gold Corporation (“Apollo” or the “Company”) is pleased to announce that the Company has entered into a lease agreement (“Lease”) with the Schumacher Estate for the surface and mineral rights of parcels 16262, 16265 and 16266, approximately 319 acres, located in the Township of Hislop, Ontario, Canada, which parcels are known as the Schumacher property (the “Schumacher Property”) is located to the south-east of Apollo’s Black Fox project property." More
- November 27, 2007 | Item | E-mail
Monroe Minerals Completes $2.8 Million Financing - More
- November 27, 2007 | Item | E-mail
Exploration Results Provide "Blue Sky" for Bayswater's Uranium Discovery at Anna Lake - More
- November 27, 2007 | Item | E-mail
Dios: Potential for a New Uranium District in Quebec - More
- November 27, 2007 | Item | E-mail
Gold Fields Sells 60% Stake in Essakane Project for US$200 Million and Acquires 12.2% Interest in Orezone Resources Inc. - "Gold Fields Limited ("Gold Fields") (NYSE, JSE, DIFX: GFI) is pleased to announce the successful closing of the transaction announced on 10 October 2007, as a result of which Gold Fields sold its 60% stake in the Essakane Project located in Burkina Faso, West Africa to its partner in the project, Orezone Resources Inc. ("Orezone") (TSX:OZN - News), for a minimum total consideration of US$200 million." More
- November 27, 2007 | Item | E-mail
Vanguard Acquires Key Uranium Claims in the Athabasca Basin - More
- November 27, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2007 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 27 November, 2007 | |
| 
