-- Posted 13 December, 2007 | | Source: SilverSeek.com
Please Note: There will be not be a Gold Seeker Report on Friday.
| Close | Gain/Loss |
Gold | $798.60 | -$14.60 |
Silver | $14.09 | -$0.55 |
XAU | 168.51 | -2.89% |
HUI | 395.81 | -2.70% |
GDM | 1227.23 | -3.03% |
JSE Gold | 2353.70 | -1.76% |
USD | 76.57 | +0.40 |
Euro | 146.14 | -1.01 |
Yen | 89.06 | -0.08 |
Oil | $92.25 | -$2.14 |
10-Year | 4.170% | +0.094 |
T-Bond | 114.50 | -1.15625 |
Dow | 13517.96 | +0.33% |
Nasdaq | 2668.49 | -0.10% |
S&P | 1488.41 | +0.12% |
The Metals:
Gold traded just slightly lower in Asia and London before it sold off in early New York trade and fell to as low as $792.02 by about 11AM EST, but it then rebounded nearly 1% off that low in the last few hours of trade and ended with a loss of 1.80%. Silver fell to as low as $13.95 before it also rebounded about 1% off that low in afternoon trade, but it still ended with a loss of 3.76%.
Euro gold fell to about €546, platinum gained $3 to $1476, palladium lost $2 to $346, and copper fell over 5 cents to about $2.91.
Gold and silver equities fell over 3% by late morning and remained near their lows into the close.
The Economy:
Report | For | Reading | Expected | Previous |
PPI | Nov | 3.2% | 1.5% | 0.1% |
Core PPI | Nov | 0.4% | 0.2% | 0.0% |
Retail Sales | Nov | 1.2% | 0.6% | 0.2% |
Retail Sales ex-auto | Nov | 1.8% | 0.6% | 0.2% |
Business Inventories | Oct | 0.1% | 0.3% | 0.4% |
Initial Claims | 12/08 | 333K | 335K | 340K |
PPI showed the biggest one month jump in wholesale prices since August 1973. Tomorrow at 8:30AM EST brings CPI for November expected at 0.6% and Core CPI expected at 0.2%. At 9:15 is Industrial Production for November expected at 0.2% and Capacity Utilization expected at 81.7%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell on profit taking from yesterday’s over $4 gains as supply worries eased and demand concerns returned due to continued worries over the credit market and a weak economy.
The U.S. dollar index rose markedly and treasuries fell on higher than expected economic readings that sent interest rates higher.
The Dow, Nasdaq, and S&P fell for most of trade despite stronger than expected Retail Sales as the highest PPI reading in 34 years kept worries about inflation prevalent and made it less likely the fed will continue to cut interest rates, but a late session rally did allow the Dow and S&P to find slight gains by the close.
Among the big names making news in the market today were H&R Block, Novartis, Northern Rock, Lehman, Kuwait and Dow Chemical, Costco, and Ciena.
The Commentary:
GATA Posts:
Ambrose Evans-Pritchard: More liquidity without inflation?
James Turk: Liquidity won't help insolvency
Martin Wolf: The helicopters start to drop money
The Statistics:
As of close of business: 12/12/2007
Gold Warehouse Stocks: | 7,366,099 | - |
Silver Warehouse Stocks: | 134,530,540 | - |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) | StreetTRACKS Gold Shares | 615.90 | 19,801,664 | US$ 16,116m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 97.51 | 3,134,886 | US$ 2,502m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 16.07 | 516,218 | US$ 412m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 21.88 | 703,532 | US$ 572m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SGX added 1.23 tonnes to a new record high holding and the JSE added 0.98 tonnes.
COMEX Gold Trust (IAU)
Profile as of 12/12/2007 | |
Total Net Assets | $1,415,460,456 | Ounces of Gold
in Trust | 1,740,187.247 |
Shares Outstanding | 17,600,000 | Tonnes of Gold
in Trust | 54.13 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 12/12/2007 | |
Total Net Assets | $2,148,563,007 | Ounces of Silver
in Trust | 146,833,360.500 |
Shares Outstanding | 14,800,000 | Tonnes of Silver
in Trust | 4,567.03 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Aurizon’s (AZK) stock options, Lihir’s (LIHR) production update, Apollo’s (AGT) drill assays, AngloGold’s (AU) appointed managing director, Barrick’s (ABX) fully operational gold mine, Excellon’s (EXN.V) assay results, Silverstone’s (SST.V) completed drilling, and Fury’s (FUR.V) operational permit were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG +4.71% $2.00 |
2. Solitario | XPL +3.41% $4.85 |
3. US Gold | UXG+1.87% $3.26 |
LOSERS
1. Exeter | XRA -9.56% $5.20 |
2. Lihir | LIHR -8.39% $31.87 |
3. Great Basin | GBN -7.59% $2.68 |
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:
Altius Minerals Corporation Reports Second Quarter Net Earnings of $37.8 Million - More
- December 13, 2007 | Item | E-mail
CGW initiating Northwest Territories surveys in advance of drilling program - More
- December 13, 2007 | Item | E-mail
Golden Goose completes phase I of drilling on its Magino gold property - More
- December 13, 2007 | Item | E-mail
Azimut and Channel identify uranium targets on the West Bienville Property, Central Quebec region - More
- December 13, 2007 | Item | E-mail
Revett Minerals' Reports on Significant Rock Creek Permit Progress - More
- December 13, 2007 | Item | E-mail
Court confirms injunction against Sulliden from entering Shahuindo - More
- December 13, 2007 | Item | E-mail
Yukon Gold Corporation, Inc. Corporate Update - More
- December 13, 2007 | Item | E-mail
Results of Annual and Special General Meeting and update on proposed sale of the President Steyn Gold Mine - More
- December 13, 2007 | Item | E-mail
Thompson Creek stock falls on output-estimate cut - More
- December 13, 2007 | Item | E-mail
Erin Ventures Inc.: Serbian Property Legal Action Update - More
- December 13, 2007 | Item | E-mail
IRL joins trend of young miners listing in Peru - More
- December 13, 2007 | Item | E-mail
Abcourt Mines Inc: Options to Buy Shares Granted to Officers and Directors of the Company - More
- December 13, 2007 | Item | E-mail
Glass Earth Limited: Closing of First Tranche of C$5 M Private Placement for Advanced Exploration and Drilling - More
- December 13, 2007 | Item | E-mail
Aurizon Grants Stock Options - "Pursuant to the Company's Incentive Stock Option Plan, incentive stock options have been granted to directors, officers, employees and a service provider for the purchase of up to 750,000 common shares at a price of $3.74 per share exercisable for a five year period." More
- December 13, 2007 | Item | E-mail
International PBX Ventures Ltd.: Positive Initial Metallurgical Test Results on Copaquire Molybdenum-Copper Project, Chile - More
- December 13, 2007 | Item | E-mail
Canasia Industries Corporation Closes First Institutional Private Placement - More
- December 13, 2007 | Item | E-mail
Goldeye Options Additional Claim in Tyrrell Township Project - More
- December 13, 2007 | Item | E-mail
Romios Earns Interest in Newmont Lake Property - More
- December 13, 2007 | Item | E-mail
Inspiration Intersects 0.916% Ni Over 7.40m or 24.28ft and 1.001% Ni Over 8.36m or 27.43ft Containing 4.160% Ni Over 0.67m or 2.20ft (True Width) - More
- December 13, 2007 | Item | E-mail
Melkior Resources Inc.: 247 Claims Acquired in Geraldton-Long Lac - More
- December 13, 2007 | Item | E-mail
Seafield Increases Financing, Confirms Stock Options - More
- December 13, 2007 | Item | E-mail
Exploration Orbite: Completion of a Successful Drilling Campaign in Grande-Vallee - More
- December 13, 2007 | Item | E-mail
Cartier Resources Inc.: Drill to Test Gold Showing on Lac Castagnier Project - More
- December 13, 2007 | Item | E-mail
Alturas Highlights Exploration Progress in Peru - More
- December 13, 2007 | Item | E-mail
PolyMet Files October 31 Quarterly Financials - More
- December 13, 2007 | Item | E-mail
Richmond Minerals Inc. Exploration Update (TSXV-RMD) - More
- December 13, 2007 | Item | E-mail
CCM Research Issues Initial Report on Nayarit Gold Inc. - More
- December 13, 2007 | Item | E-mail
Champion Minerals Conducts Airborne Geophysical Survey and Surface Sampling on Attikamagen Lake Iron Property Near Schefferville, Quebec - More
- December 13, 2007 | Item | E-mail
Queensland Minerals Ltd. Announces Option Agreement on the Reedy Creek Project in Australia - More
- December 13, 2007 | Item | E-mail
Norsemont Mining Files NI 43-101 Technical Report for Preliminary Assessment of Constancia Cu-Mo-Ag Porphyry Project, Peru - More
- December 13, 2007 | Item | E-mail
UEX Interim Resource Estimate for the West Bear Deposit Adds 223,000 Pounds of U(3)O(8) Outlining an Indicated Resource of 73,800 Tonnes, Grading 1.004% U(3)O(8 - More
- December 13, 2007 | Item | E-mail
Uranium Hunter Advances Phase 2 Exploration on Its Tanzania Ruhuhu Uranium Project - More
- December 13, 2007 | Item | E-mail
Lihir Gold Ltd.: Update on 2007 Production - "While the Company's operational performance this quarter has continued to build on the strong improvements implemented over the past two years, with record material movements and autoclave throughputs in the current year, the gold grade of ore being fed to the autoclaves has been below plan." More
- December 13, 2007 | Item | E-mail
Uranium Energy Corp Announces Closing of Private Placement Offering - More
- December 13, 2007 | Item | E-mail
Paragon Reports on Drill Results From Lake Douglas VMS Project - More
- December 13, 2007 | Item | E-mail
Century Discovers New 2 km Long Mineralized Zone At Rosario de Belen - More
- December 13, 2007 | Item | E-mail
Tara Gold Retains 100% of Las Minitas as Option Is Terminated - More
- December 13, 2007 | Item | E-mail
Unico, Inc. Announces Additional Progress of Onsite Metallurgical Activity at the Deer Trail Mine - More
- December 13, 2007 | Item | E-mail
Silver Falcon Mining, Inc.'s (SFMI) Drilling Hits New Mineralized Vein Structure - More
- December 13, 2007 | Item | E-mail
Amazon to commence drilling on Tocantins - More
- December 13, 2007 | Item | E-mail
Metanor Resources Inc.: New Members on its Board of Directors, Approval of the Shareholders Rights Plan and of the Modification of the Stock Option Plan - More
- December 13, 2007 | Item | E-mail
Sulliden Issues Directors Circular In Response To Century Offer - More
- December 13, 2007 | Item | E-mail
New Guinea Gold Corporation: 380 Ounces of Gold Dore Poured Early December - More
- December 13, 2007 | Item | E-mail
Wits Basin Executes Definitive Agreements to Acquire the Balance of FSC Project - More
- December 13, 2007 | Item | E-mail
Gladstone Pacific Nickel Limited (ACN 104 261 887) - Additional Listing - More
- December 13, 2007 | Item | E-mail
Canadian Shield Announces Phase II Drill Program and Stakes Additional 1,000 Hectares at La Estrella - More
- December 13, 2007 | Item | E-mail
Benton Intercepts Wide Zones of Copper and PGMs 1200m North of Marathon Deposit - More
- December 13, 2007 | Item | E-mail
J-Pacific Gold Finalizes Plans for New Drill Program at its Montgolfier Project in Quebec - More
- December 13, 2007 | Item | E-mail
Happy Creek Confirms Continuity of Mineralization on the Fox Moly-Tungsten Property - More
- December 13, 2007 | Item | E-mail
Madison Minerals Inc.: 2007 Drilling Expands Gold Mineralization at Lewis Property, Joint Venture to Acquire Property for $2 Million - More
- December 13, 2007 | Item | E-mail
RSM and Dissident Shareholders Reach Settlement Agreement - More
- December 13, 2007 | Item | E-mail
Tinka Drilling Extends Mineralization at Colquipucro, Peru - More
- December 13, 2007 | Item | E-mail
GWR Announces Further Assay Results on Aurizon Zone - More
- December 13, 2007 | Item | E-mail
Canadian Royalties Inc.: Nunavik Nickel Project Exploration Update - More
- December 13, 2007 | Item | E-mail
Piedmont Mining Company Reports on Recent Meeting of Stockholders - More
- December 13, 2007 | Item | E-mail
North American Palladium Announces Closing of US$75 Million Offering - More
- December 13, 2007 | Item | E-mail
Noront Provides Project Update - More
- December 13, 2007 | Item | E-mail
Midlands Minerals Follow Up Drill Results Confirm New Zones at Sian-Ghana - More
- December 13, 2007 | Item | E-mail
QGX Initiates Metallurgical Studies for the Undur Tsagaan W-Mo Project, Mongolia - More
- December 13, 2007 | Item | E-mail
Acquisition and placement - More
- December 13, 2007 | Item | E-mail
Kinbauri Intersects 57g Au/t and 11.5% Cu Over 1.4 Metres More Positive Results From El Valle/Carles, Spain - More
- December 13, 2007 | Item | E-mail
Amerix Reports 10.2 Grams/Ton Over 10.7 Metres at Ouro Roxo - More
- December 13, 2007 | Item | E-mail
Radisson Mining Reports High-Grade Nickel/Copper Assays on its RM Nickel Project - More
- December 13, 2007 | Item | E-mail
Canstar Completes Airborne Geophysical Survey Over Its McFaulds Lake Properties, James Bay Lowlands, Ontario - More
- December 13, 2007 | Item | E-mail
Thompson Creek announces changes to production estimates for 2007 - More
- December 13, 2007 | Item | E-mail
Aberdeen Announces Net Asset Value of $0.94 Per Share and Third Quarter Financial Results - More
- December 13, 2007 | Item | E-mail
IAMGOLD Declares Seventh Consecutive Annual Dividend - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) is pleased to announce an annual dividend payment of USD$0.06 per share payable on January 11, 2008 to shareholders of record as of the close of trading on December 24, 2007." More
- December 13, 2007 | Item | E-mail
Uranium Hunter Confirms Uranium Anomalies on Tanzania Ruhuhu Project - More
- December 13, 2007 | Item | E-mail
NWT Uranium updates shareholders on letter agreement for a business combination with Nu-Mex - More
- December 13, 2007 | Item | E-mail
Yellowcake Appoints Siegfried Muessig and James Malone to Board of Directors - More
- December 13, 2007 | Item | E-mail
Apollo Gold Announces Drill Assays at Its Black Fox Project - "Apollo Gold Corporation (“Apollo” or the “Company”) is pleased to provide an update on the status of the infill diamond drilling program and timing for completion of a bankable feasibility study at its 100% owned Black Fox Project (“Black Fox”) located in Timmins, Ontario, Canada." More
- December 13, 2007 | Item | E-mail
Excellon Announces High-Grade Assays and Further Expands Rodilla Manto Massive Sulphide Mineralization - "Excellon Resources Inc. (TSX VENTURE:EXN - News) announces assays for five holes in the Rodilla Manto (first announced November 13, 2007; see table below) that include massive sulphide (LP411, 413, 419), sulphide breccia (LP417) and dispersed sulphide (LP421) intercepts. The massive sulphide intercepts range from 3.2 to 12.5 metres (m) in thickness and carry from 246 to 931 g/t (7.2 and 27.2 oz/T) silver; 7.2 to 8.2% lead; and 4.7 to 15.1% zinc." More
- December 13, 2007 | Item | E-mail
Silverstone Completes Definition Drilling on the Animas-Refugio Vein, Copala Project, Sinaloa State, Mexico - "Copala is located 60km ENE of Mazatlan, Sinaloa State, Mexico. The assay results are for infill and exploration drilling on the Animas-Refugio vein in the Clemens-El Muerto sector. Drilling has been completed in this sector of the vein and the company will release an independent resource estimate in the 1st quarter of 2008." More
- December 13, 2007 | Item | E-mail
Fury Files Operational Permit for Taylor - "Fury Explorations Ltd. (the "Company") (CDNX:FUR.V - News) announces that it has filed an Operational Permit application in connection with its efforts to reopen the Taylor silver mine and mill located near Ely Nevada (see PR2007-20 for reopening timetable)." More
- December 13, 2007 | Item | E-mail
AngloGold appoints new head for Tanzania Geita mine - "The world's third biggest gold producer, AngloGold Ashanti Ltd (ANGJ.J: Quote, Profile, Research), has appointed Richard Le Sueur as managing director at its struggling Geita Gold Mine in Tanzania effective early January." More
- December 13, 2007 | Item | E-mail
Barrick says gold mine fully operational after strike - "Canadian miner Barrick Gold Corp's (ABX.TO: Quote, Profile, Research) Bulyanhulu gold mine in Tanzania is back to full production following a strike that paralysed work, a Barrick Tanzania spokesman said on Thursday." More
- December 13, 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 13 December, 2007 | |
