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-- Posted 3 December, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $788.20 | +$5.10 | Silver | $14.07 | +$0.09 | XAU | 171.60 | +0.31% | HUI | 409.97 | +0.93% | GDM | 1269.95 | +1.05% | JSE Gold | 2575.43 | -1.87% | USD | 75.95 | -0.20 | Euro | 146.70 | +0.22 | Yen | 90.61 | +0.59 | Oil | $89.31 | +$0.60 | 10-Year | 3.895% | -0.077 | T-Bond | 118.00 | +0.8125 | Dow | 13314.57 | -0.43% | Nasdaq | 2637.13 | -0.90% | S&P | 1472.42 | -0.59% |
The Metals:  Gold rose to as high as $791.45 in Asia before it fell to as low as $776.88 in London, but it then rallied back higher in New York trade and ended with a gain of 0.65%. Silver topped $14.00 in Asia before it fell to as low as $13.75 in London, but it then rallied back higher in New York and climbed to as high as $14.215 ahead of a slight dip from that high in afternoon trade that left it with a gain of 0.64%.
Euro gold rose to about €538, platinum gained $18 to $1455, palladium lost $2 to $345, and copper fell over 11 cents to about $3.05. Gold and silver equities rose over 1% by late morning before they cut into their gains as the major indices fell off in early afternoon trade, but they then rallied back higher in late trade and ended near their highs with roughly 1% gains. ECB sells off 42 tonnes of gold reserves; will China start buying? Resource Investor The Economy: Report | For | Reading | Expected | Previous | ISM Index | Nov | 50.8 | 50.5 | 50.9 |
There are no major economic reports due out tomorrow. 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 for most of trade on easing geopolitical tensions as Chavez did not win an election to end his term limits and a government report stated that Iran halted its nuclear weapons program in 2003, but oil then turned higher in late trade and ended with a gain on uncertainty over whether or not OPEC will increase production at their meeting on Wednesday. Previous expectations assumed that OPEC would in fact raise production, but with oil now below $90 some are predicting that OPEC will state it no longer needs to bring more supply to the market. The U.S. dollar index fell and treasuries rose on uneasiness over the credit market as Treasury Secretary Henry Paulson announced that a plan to combat subprime mortgage foreclosures will be released soon. The Dow, Nasdaq, and S&P eventually fell on worries over the mortgage industry, but losses were relatively small when compared to recent large market movements. Among the big names making news in the market today were Ford, Toyota, Nissan, Honda, Vivendi, VeriFone, Agrium and UAP Holding, MetLife, and Google. The Commentary:  “February Gold finished up 5.6 at 794.7, 0.3 off the high and 5.9 up from the low.
March Silver closed up 0.045 at 14.21. This was 0.19 up from the low and 0.16 off the high. CBOT gold fell sharply early in the session but held above the November 20th lows and the moderately higher close might be seen as a successful test of support. This is a positive technical development. The rally in the face of sharply lower energy prices and a weaker dollar suggests that gold may be more tied to the international economic growth prospects. Talk of increased demand from India and middle-east commercial dealers, ideas that investment demand buying could continue into December as investors position for next year and talk of the oversold technical condition provided support. In addition, deliveries were down sharply from late last week. Talk that the recent steep liquidation trend has run its course with open interest already down 31% from the early November peak added to the positive tone. Open interest was down 18 contracts to 15,881 for the CBOT 100 oz contract. March silver closed sharply higher on the session after the early break to the lowest level since October 25th failed to attract new selling interest. Ideas that the global economy will continue to expand and that demand will eventually out-strip supply helped to support. In addition, the South Africa minors strike is set for tomorrow which may have sparked some short-covering and the strength in platinum was an added supportive force. Deliveries in Chicago slowed dramatically from the hefty numbers seen on Friday which added to the positive tone.”- The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
German finance minister blames 'snooty,' secretive bankers Grandich Letter analyzes metals markets and cites GATA Fed looks for new ways to pump more money into banks Interbank loan collapse worse in Britain than U.S. Gene Arensberg: Large commercials hastening to cover gold shorts James Turk: 100 months so far Ben Stein: Goldman pushed and shorted mortgage junk simultaneously Paulites raid Virginia Republican retreat, capture straw poll Foot soldiers for the Ron Paul revolution Magazine cover's curse may save dollar again Arab Monetary Fund chief urges ending dollar pegs in Gulf The Statistics: As of close of business: 11/30/2007 Gold Warehouse Stocks: | 7,383,375 | - | Silver Warehouse Stocks: | 134,368,510 | +71,078 |
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 | 601.65 | 19,343,578 | US$ 15,150m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 96.91 | 3,115,907 | US$ 2,462m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.86 | 509,575 | US$ 403m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 18.94 | 608,829 | US$ 505m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX subtracted 7.68 tonnes. COMEX Gold Trust (IAU) Profile as of 11/30/2007 | | Total Net Assets | $1,361,170,911 | 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 11/30/2007 | | Total Net Assets | $2,068,286,751 | 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, Goldcorp’s (GG) hikes in output and costs at Penasquito, Gold Fields’ (GFI) partially closed mine due to a worker death and completed sale of its Venezuelan assets, Richmont’s (RIC) normal course issuer bid, First Majestic’s (FR.V) drill results, Endeavour’s (EXK) operation team appointments, Apogee’s (APE.V) board appointment, ECU’s (ECU.TO) trading activity, and Fury’s (FUR.V) completed drilling were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Gammon Gold | GRS+18.38% $8.76 | 2. Paramount | PZG +7.73% $1.95 | 3. Crystallex | KRY +7.36% $2.48 |
LOSERS 1. US Gold | UXG-8.45% $3.14 | 2. Metalline | MMG-5.26% $2.70 | 3. Solitario | XPL -4.76% $5.00 |
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: Solitaire Minerals Corp. Options Athabasca Basin Properties - More
- December 03, 2007 | Item | E-mail
Golden Band Resources Tower East gold deposit updated resource estimate - More
- December 03, 2007 | Item | E-mail
Amerix Changes the Board of Directors and Announces the Appointment of Officers - More
- December 03, 2007 | Item | E-mail
Gilla Looking at Africa - More
- December 03, 2007 | Item | E-mail
Cameco gets green light for Cigar Lake remediation - More
- December 03, 2007 | Item | E-mail
Areva, Denison to go ahead with Saskatchewan mine - More
- December 03, 2007 | Item | E-mail
CGW contracts SRK consulting engineers and scientists to design leach pad - More
- December 03, 2007 | Item | E-mail
Sienna Grants Stock Options - More
- December 03, 2007 | Item | E-mail
Probe Mines Announces Appointment of Dennis H. Peterson to the Board of Directors and Resignation of Harry J. Hodge from the Board of Directors - More
- December 03, 2007 | Item | E-mail
Goldcorp hikes Penasquito output and cost outlook - "Goldcorp Inc (G.TO: Quote, Profile, Research) boosted the expected output for its Penasquito mine by 69 percent on Monday, but also announced a 30 percent hike in its capital cost estimate for the project." More
- December 03, 2007 | Item | E-mail
Los Andes Announces Issuance of Stock Options - More
- December 03, 2007 | Item | E-mail
Strait Gold Outlines Copper Porphyry Target at Letra Rumi South - More
- December 03, 2007 | Item | E-mail
New Guinea Gold Strengthens PNG Management - More
- December 03, 2007 | Item | E-mail
MSV Resources obtains its certificate of execution - More
- December 03, 2007 | Item | E-mail
Golden Band Resources: Summer Exploration Results Update - More
- December 03, 2007 | Item | E-mail
Inspiration Intersects 1.021% Ni Over 7.43m or 24.38ft and 2.374% Ni Over 2.38m or 7.81ft Containing 5.765% Ni Over 0.54m or 1.76ft (True Width) - More
- December 03, 2007 | Item | E-mail
Teryl Resources Announces Renmark Financial Communications Inc. to Handle Its Investor Relations Activities - More
- December 03, 2007 | Item | E-mail
Victoria Resource Corporation Repays Note Payable - More
- December 03, 2007 | Item | E-mail
Merrex Intersects 4.18 g/t Over 17 metres at Siribaya Gold Project in West Mali, West Africa - More
- December 03, 2007 | Item | E-mail
Inspiration Intersects 0.923% Ni Over 15.75m or 51.66ft With 1.651% Ni Over 7.37m or 24.18ft Containing 6.436% Ni Over 0.84m or 2.76ft (True Width) - More
- December 03, 2007 | Item | E-mail
Soho Resources Corp. Reports More Positive Drill Results From Tahuehueto - More
- December 03, 2007 | Item | E-mail
Dominion Minerals Corp. Announces Appointment to the Board of Directors - More
- December 03, 2007 | Item | E-mail
GLR Updates Drilling Progress at Box Deposit - More
- December 03, 2007 | Item | E-mail
GBS Gold International Inc.: Open Pit Drilling Enhances Short Term Production Plans and Returns Significant Nickel Intercept - More
- December 03, 2007 | Item | E-mail
Sarissa Resources Announces CEO and Board Of Director Changes - More
- December 03, 2007 | Item | E-mail
Golden Hope Mines Substantially Expands Size of Timmins Gold Deposit in Quebec - More
- December 03, 2007 | Item | E-mail
China closes in on SA as world's top gold producer - "Emerging global superpower China may snatch South Africa's crown as the world's top gold producer this year.
South Africa has thus far managed to hold on to the crown, but China, which has established itself as the world's second-largest gold producer after seven years of continued growth, now looks set to overtake South Africa in the production stakes." More
- December 03, 2007 | Item | E-mail
South African miners to strike - "Mines in South Africa, the world's top producer of precious metals, will fall silent at midnight on Monday due to a national protest against mine deaths, with warnings of further action if fatalities continue." More
- December 03, 2007 | Item | E-mail
Rainy River Resources & Bayfield Ventures Sign Option Agreement on Burns Block Located East of 17/ODM Gold Trend - More
- December 03, 2007 | Item | E-mail
Argentex commences drilling at Pinguino to test rich zinc-lead-indium mineralization - More
- December 03, 2007 | Item | E-mail
Bullion River Gold Corp. Reports Third Quarter, Nine Month Results for Fiscal 2007 and Announces Conference Call for Investors - More
- December 03, 2007 | Item | E-mail
Romios Discovers New Zone of Copper-Gold Mineralization at Newmont Lake, Northwestern British Columbia -Grades of 2.61% Copper and 0.796 GPT Gold Encountered - More
- December 03, 2007 | Item | E-mail
Farallon Announces Signing of Bridge Facility Loan Agreement - More
- December 03, 2007 | Item | E-mail
Unico, Inc. Issues December 2007 Investor Newsletter Which Reviews Recent Geological Work at Subsidiary Mines - More
- December 03, 2007 | Item | E-mail
Aldridge Minerals Inc. completes non-brokered private placement - More
- December 03, 2007 | Item | E-mail
Oriental Reports Up to 2.41% Zinc, 0.84% Lead and 48.4 g/t Silver From Surface Sampling 2-4 km West of Sangdong Deposit - More
- December 03, 2007 | Item | E-mail
Denison Mines Corp.: Joint Venture Partners to Proceed With Midwest Uranium Project - More
- December 03, 2007 | Item | E-mail
Franconia Files 43-101 Resource Estimate on Spruce Road Copper-Nickel Deposit at Birch Lake Project, Minnesota - More
- December 03, 2007 | Item | E-mail
Brownstone's Arizona Gold Project Announces Signing Letter of Intent - More
- December 03, 2007 | Item | E-mail
Skye Resources announces new Director - More
- December 03, 2007 | Item | E-mail
Ventura Reports Second Quarter Results and Advancement of Business Strategy - More
- December 03, 2007 | Item | E-mail
MetalCORP; Aggressive Drilling Campaign Resumes on Molybdenum (Mo) - Rhenium (Re) - Silver (Ag) Bearing Quartz Vein at Big Lake Property, Northern Ontario - More
- December 03, 2007 | Item | E-mail
Sherwood Intersects High Grade Copper-Gold Mineralization at Ridgetop & Area 118, Minto Mine - More
- December 03, 2007 | Item | E-mail
Canadian Mining Signs Letter of Intent to Acquire Mexico Mining Claims - More
- December 03, 2007 | Item | E-mail
Kansai visible gold seen in MD 28 in drilling on Migori property in Kenya - More
- December 03, 2007 | Item | E-mail
Rusoro completes acquisition of Gold Field's Venezuelan assets - More
- December 03, 2007 | Item | E-mail
Ecuador to allow open pit mining if benefits seen - "Ecuadorean President Rafael Correa said on Saturday the government would allow open pit mining and bear its environmental impact if it generated enough revenues for the Andean nation." More
- December 03, 2007 | Item | E-mail
Hemisphere Gold Inc. Negotiating With Marken Capital Corp. - More
- December 03, 2007 | Item | E-mail
Thompson Creek sees few hurdles for new moly plans - More
- December 03, 2007 | Item | E-mail
First Majestic Silver Corp.: Update on the Chalchihuites Group of Properties - "First Majestic Silver Corp. (the "Company" or "First Majestic") (CDNX:FR.V - News)(Other OTC:FRMSF.PK - News)(Frankfurt:FMV.F - News)(WKN: A0LHKJ)is pleased to announce preliminary results from its ongoing surface and underground exploration and diamond drilling program at the Chalchihuites Group of Properties located in the State of Zacatecas, Mexico." More
- December 03, 2007 | Item | E-mail
Global Uranium begins drilling on two projects - More
- December 03, 2007 | Item | E-mail
Endeavour Announces Four New Appointments to Operations Team in Mexico - "We would like to welcome Fern, Nelson, Miguel and Francisco to the Endeavour team. They bring a wealth of operating experience to the Company that should help facilitate our growth as we continue to expand and improve our operations." More
- December 03, 2007 | Item | E-mail
Third Quarter Financial Results-Baca Oil & Gas Environmental Study & Otish Uranium Exploration Update - More
- December 03, 2007 | Item | E-mail
Apogee Announces Board Appointment - "Mr. Argyle brings with him 20 years experience in senior management positions on mining and chemical projects in China, South East Asia, Central Asia and Australia. He holds a degree in Commerce from the University of Western Australia and an MBA from the University of Michigan. Mr. Argyle is President and Chief Executive Officer of Dynamite Resources Ltd." More
- December 03, 2007 | Item | E-mail
Gold Fields says part of mine closed after mineworker's death - "Gold Fields said on Monday it had been asked by the authorities to stop work in a section of its Kloof mine where a worker was killed in an accident, but said production would remain largely unaffected." More
- December 03, 2007 | Item | E-mail
Richmont Mines Inc.: Announcement - "Richmont Mines Inc. (the "Company") (Toronto:RIC.TO - News)(AMEX:RIC - News) announces today that the Toronto Stock Exchange (the "TSX") has accepted the Company's notice of intention to make a normal course issuer bid (the "Notice") to purchase some of its outstanding common shares through the facilities of the TSX for a period of twelve months ending on December 4, 2008." More
- December 03, 2007 | Item | E-mail
Goldcorp Approves Penasquito Mine Expansion - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) today provided details of a plan to expand mill throughput by 30% at the Penasquito project in Mexico to 130,000 ore tonnes per day and to accelerate the project production schedule. This expansion follows a 48% increase in proven and probable reserves announced in June, 2007." More
- December 03, 2007 | Item | E-mail
ECU Silver Comments on Trading Activity - "On Friday, November 30, the Company experienced an unusual amount of trading activity late in the day. The Company is not aware of any material news that would have caused such trading volume." More
- December 03, 2007 | Item | E-mail
Uranium Stocks Hit, But Denison and Paladin Should Recover - More
- December 03, 2007 | Item | E-mail
SAfrica mining firms brace for miners safety strike - "Mines in South Africa, the world's top producer of precious metals, will fall silent at midnight on Monday due to a national protest against mine deaths, with warnings of further action if fatalities continue." More
- December 03, 2007 | Item | E-mail
Fury Completes Drilling at Guijoso; Assays Pending - "A total of 2,017 metres were completed in 13 holes. Three holes tested the southern vein in the vicinity of the historical workings where surface sampling by the Company returned assays up to 3,000 g/t silver. Seven holes tested the gold rich central vein where Fury sampling returned assays up to 276 g/t silver and 4.7 g/t Au, and three holes tested the north vein where previous sampling returned assays up to 712 g/t silver." More
- December 03, 2007 | Item | E-mail
Gold Fields Completes Sale of its Venezuelan Assets - "Gold Fields Limited (Gold Fields) (NYSE, JSE, DIFX: GFI) is pleased to announce the successful completion of the transaction announced on 12 October 2007, whereby Gold Fields has disposed of all its assets in Venezuela to Rusoro Mining Ltd. (Rusoro) (TSXV: RML)." More
- December 03, 2007 | Item | E-mail
Gold Fields Completes Venezuelan Sale - "South African miner Gold Fields Ltd. said Monday it completed the sale of its Venezuelan assets to Rusoro Mining Ltd." More
- December 03, 2007 | Item | E-mail
Freewest Resources Announces Distribution of Quest Uranium Shares to Freewest Shareholders - More
- December 03, 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 3 December, 2007 | |
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