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-- Posted 6 February, 2008 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $900.50 | +$13.90 | Silver | $16.51 | +$0.20 | XAU | 174.96 | +1.00% | HUI | 429.73 | +1.10% | GDM | 1295.59 | +1.06% | JSE Gold | 2458.63 | +77.22 | USD | 76.71 | +0.05 | Euro | 146.37 | -0.20 | Yen | 93.86 | +0.32 | Oil | $87.14 | -$1.27 | 10-Year | 3.614% | +0.027 | T-Bond | 119.375 | -0.40625 | Dow | 12200.10 | -0.53% | Nasdaq | 2278.75 | -1.33% | S&P | 1326.45 | -0.76% |
The Metals:  Gold fell just slightly by late trade in Asia to $885.70, rose throughout trade in London and morning New York action, and climbed to as high $907.45 before it fell back near $900 in afternoon trade, but it still ended with a gain of 1.57%. Silver fell to $16.18 and rose to $16.63 before it also came back off a bit in the last couple of hours of trade, but it still ended with a gain of 1.23%.
Euro gold rose back above €615, platinum gained $35 to $1811 to a new record high, palladium gained $1 to $417, and copper rose nearly 10 cents to about $3.30. Gold and silver equities rose over 3% by late morning before they fell back off in afternoon trade along with the major indices, but they still ended with over 1% gains. The Economy: Report | For | Reading | Expected | Previous | Productivity | Q4 | 1.8% | 0.5% | 6.0% |
The fed’s Plosser reminded the markets early this afternoon that the fed’s other mandate of price stability must not be ignored and inflation indicators need to be closely watched. This was interpreted by many to mean that the street should not assume the fed will continue to cut interest rates as they remain data dependent and there is still plenty of data to come out between now and the fed’s next meeting in March. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 2/02 expected at 340,000. At 10AM is the Pending Home Sales report for December and at 3PM is Consumer Credit for December expected at $8.0 billion. Today's Gold Seeker Report Is Sponsored By: 
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The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell back near $87 as inventory reports came in better than expected. Crude inventories built 7 million barrels, gasoline inventories built 3.6 million barrels, and distillates rose 100,000 barrels. The U.S. dollar index remained near unchanged as traders waited for the European Central Bank’s decision on interest rates tomorrow. Treasuries fell on profit taking with yields sitting near four year lows, but losses moderated after a $13 billion 10-year note auction drew decent demand with a yield of 3.62%. The Dow, Nasdaq, and S&P rebounded from yesterday’s significant losses in morning trade on the better than expected Productivity report, but they then fell back off in afternoon trade and closed near their lows of the session with roughly 1% losses after Plosser’s comments spooked some about the future of the fed funds rate. Among the big names making news in the market today were Toll, IAC, Warner Music, and Disney. The Commentary: GATA Posts: 
Dominic Frisby: Is the gold price really being manipulated? The Statistics: As of close of business: 2/5/2008 Gold Warehouse Stocks: | 7,637,696 | +49,724 | Silver Warehouse Stocks: | 134,785,634 | -628,099 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) | StreetTRACKS Gold Shares | 631.15 | 20,292,100 | US$ 18,008m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 105.19 | 3,382,059 | US$ 3,052m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 17.64 | 566,891 | US$ 512m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.64 | 888,664 | US$ 788m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 2/5/2008 | | Total Net Assets | $1,706,853,084 | Ounces of Gold
in Trust | 1,926,796.406 | Shares Outstanding | 19,500,000 | Tonnes of Gold
in Trust | 59.93 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 2/5/2008 | | Total Net Assets | $2,708,520,296 | Ounces of Silver
in Trust | 164,064,898.000 | Shares Outstanding | 16,550,000 | Tonnes of Silver
in Trust | 5,102.99 |
Note: Change in Total Tonnes from yesterday’s data: 15.41 tonnes were subtracted from the trust. The Stocks: BHP Billiton’s sweetened but hostile $147.4 billion bid for Rio Tinto, Anatolia’s (ANO.TO) scoping study, Minco Gold’s (MGH) retained IR firm, Taseko’s (TGB) expansion update, Canyon’s (CAU) new mine study, IAMGOLD’s (IAG) $18.4 million cost improvement program, Banro’s (BAA) partner for sustainable community, Fronteer’s (FRG) realigned partnership with Newmont, and Fortuna’s (FVI.V) new VP appointment were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Vista Gold | VGZ +8.93% $5.00 | 2. Gold Reserve | GRZ +5.41% $5.46 | 3. Exeter | XRA +4.27% $4.15 |
LOSERS 1. Cardero | CDY -8.85% $1.03 | 2. Solitario | XPL -5.37% $5.46 | 3. Metalline | MMG-4.69% $2.03 |
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: Keegan Announces Grant of Stock Options - More
- February 06, 2008 | Item | E-mail
Anatolia Files Sulfide Scoping Study for 2.3 Million Ounces at Copler Gold Project - "Anatolia Minerals Development Limited ("Anatolia") (Toronto:ANO.TO - News) has filed on SEDAR (www.sedar.com) the Preliminary Assessment Sulfide Ore Processing Technical Report under National Instrument 43-101 ("Sulfide Scoping Study") for its 100%-owned Copler Gold Project in Turkey." More
- February 06, 2008 | Item | E-mail
Minco Gold Corporation Retains Rubenstein Investor Relations - "Minco Gold Corporation (the "Company" or "Minco Gold") (Toronto:MMM.TO - News)(AMEX:MGH - News)(Frankfurt:MI5.F - News), a mining company involved in the direct acquisition and development of high-grade, advanced stage gold properties in China, announced that it has retained New York based Rubenstein Investor Relations (RIR) to help raise awareness within the investment community of the Company's exceptional portfolio of high-quality advanced and exploration stage properties operating in China." More
- February 06, 2008 | Item | E-mail
Another small miner, Andean American lists in Peru - More
- February 06, 2008 | Item | E-mail
Taseko Mines Limited: Gibraltar Concentrator Expansion Update - "The Semi-Autogeneous Grinding Mill ("SAG mill") and its Ancillary operating components were released from the construction group to Gibraltar's mill operations team December 27, 2007. Over the past 4 weeks, conversion work on the secondary grinding system has been completed ahead of schedule. As of February 1st, the Gibraltar concentrator facility has achieved the engineering designed milling rates expected from the SAG mill." More
- February 06, 2008 | Item | E-mail
Yale Identifies Significant New Gold-Silver Mineralization at the Urique Project, Mexico - More
- February 06, 2008 | Item | E-mail
Ucore Uranium Reports 15.2 Meters Grading 0.42% U3O8 from Bokan Mountain - More
- February 06, 2008 | Item | E-mail
Uranium 308 Corp. Acquires 10% Ownership of Mongolia Metals Limited; Subsidiary of Uranium 308 Corp. to Receive 1% Ownership of Hong Kong Mongolia Metals Ltd. - More
- February 06, 2008 | Item | E-mail
Acero-Martin Announces Changes to Board of Directors - More
- February 06, 2008 | Item | E-mail
Uranium Energy Corp Adds Two Industry Professionals to Its Advisory Board, Appoints Ed Brezinski as VP, Corporate Development - More
- February 06, 2008 | Item | E-mail
Fortune Minerals announces improved flotation recoveries from Nico Pilot Plant - More
- February 06, 2008 | Item | E-mail
Pro-Or Inc.: The Extraction Plant of St-Augustin Now Operational - More
- February 06, 2008 | Item | E-mail
Baffinland Signs Commercial Lease for Inuit Owned Lands - More
- February 06, 2008 | Item | E-mail
Cameco profit higher, but misses estimates - More
- February 06, 2008 | Item | E-mail
Buchans River intersects 44.73 metres of 7.21% combined base metals comprised of 4.85% zinc, 1.64% lead, 0.72% copper, 19.4 g/t silver & 0.17 g/t gold - More
- February 06, 2008 | Item | E-mail
Forsys Metals Corp.: Uranium Exploration Licences Renewed - More
- February 06, 2008 | Item | E-mail
Solid retains RDF Capital Management Inc. to provide financial advisory services and grants stock options - More
- February 06, 2008 | Item | E-mail
Dynamite Resources Provides Exploration Update on Its Mike Lake Project - More
- February 06, 2008 | Item | E-mail
Pure Nickel Exploration and Corporate Update - More
- February 06, 2008 | Item | E-mail
MacMillan Reports Positive Results From First Two Holes at Realito Silver Project - More
- February 06, 2008 | Item | E-mail
Lero Completes 1,879m Diamond Drilling at the Karchiga VMS Project, North East Kazakhstan - More
- February 06, 2008 | Item | E-mail
Inter-Citic Appoints Dr. Michael Doggett to Board - More
- February 06, 2008 | Item | E-mail
Robex - Focus on a 1.0 km mineralization on Wili-Wili - More
- February 06, 2008 | Item | E-mail
New Jersey Mining Company and Newmont Propose to Form Joint Venture - More
- February 06, 2008 | Item | E-mail
Additional High Grade Intercepts From Normabec's Real De Catorce Project as Hole VMP-11 Cuts 604.8 G/T Ag, 1.21% Pb, 1.55% Zn Over 5.27 Metres - More
- February 06, 2008 | Item | E-mail
Uravan Issues Common Shares - More
- February 06, 2008 | Item | E-mail
Shoreham Resources Initiates Winter Drilling at Setting Net Lake Molybdenum Target in the Red Lake Mining Division of Ontario - More
- February 06, 2008 | Item | E-mail
Intrepid/Emperor Merger Update - More
- February 06, 2008 | Item | E-mail
Premier announces resource estimate for Red Lake Bonanza Gold Deposit - More
- February 06, 2008 | Item | E-mail
Bullion River Gold Corp. Announces the Start of Infrastructure Upgrades at the French Gulch Mine - More
- February 06, 2008 | Item | E-mail
Astral Starts Drilling on the Bear Creek Gold Prospect, North Carolina - More
- February 06, 2008 | Item | E-mail
Hemis Acquires Share Position in Monte Cristo Gold Corporation - More
- February 06, 2008 | Item | E-mail
Selwyn Resources Renews Strategic Partner Search - More
- February 06, 2008 | Item | E-mail
Centamin Egypt Intersects New High Grade Zone at Amun Deeps - More
- February 06, 2008 | Item | E-mail
Dia Bras Reports Highlights of Its 2007 Exploration And Development Program And Presents Its 2008 Objectives - More
- February 06, 2008 | Item | E-mail
Rochester Brings Second Drill to Florida North - More
- February 06, 2008 | Item | E-mail
Cameco Reports Record Annual Revenue, Earnings and Cash Flow for 2007 - More
- February 06, 2008 | Item | E-mail
Pacific Cascade receives results of I.P. Survey of Brewster Lake Claims and plans 2008 drill program - More
- February 06, 2008 | Item | E-mail
SRA Announces Strategic Investment by FNX Mining - More
- February 06, 2008 | Item | E-mail
Wits Basin Amends Bates-Hunter Mine Contract and Plans to Review Its Gold Properties Strategy - More
- February 06, 2008 | Item | E-mail
Certej Environmental Impact Study Completed - Permitting Process Underway - More
- February 06, 2008 | Item | E-mail
VMS Ventures Inc.: Hole RD 07-12 Assays 31.74m of 2.09% Cu and 3.56% Zn; Hole RD 08-22 Intersects 25.75m NSS at Discovery Zone - More
- February 06, 2008 | Item | E-mail
Amera Resources Corporation: Drilling Underway on Laguna Gold Project, Peru - More
- February 06, 2008 | Item | E-mail
Cue Resources Ltd. Reports Core Analyses From Drilling at the Yuty Uranium Project, Paraguay - More
- February 06, 2008 | Item | E-mail
Forum Defines Seven Priority Uranium Exploration Targets, North Thelon Project, Nunavut - More
- February 06, 2008 | Item | E-mail
International KRL intersects copper and maps uranium structure at NOR IOCG Project - More
- February 06, 2008 | Item | E-mail
Liberty Star Uranium Neola Drill Hole 5 Cuts Breccia, Elle JV Reveals Three New Priority Targets - More
- February 06, 2008 | Item | E-mail
Superior Identifies Priority Uranium Occurrences, Defines Seven Uranium Exploration Targets, North Thelon Project, Nunavut - More
- February 06, 2008 | Item | E-mail
Cameco jumps on higher uranium prices - More
- February 06, 2008 | Item | E-mail
Canyon Updates Underground Mine Design Study for Its Briggs Mine - "Canyon Resources Corporation (Amex: CAU - News), a Colorado-based mining company is pleased to provide the results of a new technical report that expands on the underground mining potential at its Briggs Mine in Inyo County, California. This new study expands underground mineral reserves previously announced on February 6, 2007 and was based on additional drilling on the Goldtooth structure at Briggs in the first half 2007 as reported on July 30, 2007." More
- February 06, 2008 | Item | E-mail
Fortuna Appoints VP Business Development - "Fortuna Silver Mines Inc. (TSX VENTURE:FVI - News) is pleased to announce the appointment of Mr. Manuel Ruiz-Conejo to the new position of Vice President of Business Development. Mr. Ruiz-Conejo, who will be based in Fortuna's Lima office in Peru, will be responsible for leading the Company's growth strategy throughout Latin America." More
- February 06, 2008 | Item | E-mail
IAMGOLD Announces $18 Million Cost Improvement Program at Rosebel - "IAMGOLD Corporation ("IAMGOLD" or "the Company")(Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) announces the Board of Directors' approval of an $18.4 million investment for an expansion of the Rosebel Mill. The expansion allows for an increase in the annual life of mine production from approximately 275,000 ounces per year to 300,000 to 305,000 ounces per year and a reduction in direct cash costs of approximately $35 per ounce." More
- February 06, 2008 | Item | E-mail
Banro and CARE International to partner for sustainable community development in DR Congo - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has formed a partnership with CARE to promote sustainable development at the communities near its operations in South Kivu and Maniema provinces of the Democratic Republic of the Congo (the "DRC")." More
- February 06, 2008 | Item | E-mail
Fronteer Realigns Newmont Partnership to Fast-Track Development of Sandman, Regains 100% of Northumberland - "Fronteer Development Group Inc. ("Fronteer" or the "Company") (Toronto:FRG.TO - News)(AMEX:FRG - News) is pleased to announce that it has signed a Letter of Intent ("LOI") with its senior Nevada partner, Newmont Mining Corporation ("Newmont"), to rapidly advance the Company's Sandman gold project to a production decision within 36 months. As part of this agreement, Fronteer also regains an undivided 100% interest in Northumberland, one of the largest undeveloped Carlin-style gold deposits in Nevada." More
- February 06, 2008 | Item | E-mail
Orezone and North Atlantic Form Uranium Exploration Company - More
- February 06, 2008 | Item | E-mail
Queenston and Kirkland Lake Gold to Purchase Strategic KL West Property From Newmont - "Queenston Mining Inc. ("Queenston") (TSX:QMI - News; FRANKFURT:QMI - News; STUTTGART:QMI - News; BERLIN:QMI - News) and Kirkland Lake Gold Inc. ("KL Gold") (TSX:KGI - News; AIM:KGI) are pleased to announce that they have entered into an agreement to jointly (50%-50%) purchase a 100% interest in the Kirkland Lake West ("KL West") property in Ontario from Newmont Mining Corporation of Canada Limited, a subsidiary of Newmont Mining Corporation (TSX:NMC - News; NYSE:NEM - News; ASX:NEM - News), for CDN $1 million." More
- February 06, 2008 | Item | E-mail
Matoush: Confirmation of a Large Mineralized Zone 200 Metres Below The AM-15 Lens 2.86% eU3O8 Over 5.8 Metres - More
- February 06, 2008 | Item | E-mail
U3O8 Corp. Reports More Uranium Intersections from Aricheng North - More
- February 06, 2008 | Item | E-mail
Capella Resources Reports Drill Results from the Harvey Project - New Brunswick - More
- February 06, 2008 | Item | E-mail
Endeavor Explorations Inc. appoints Mr. Walter Stunder as President and Chief Executive Officer - More
- February 06, 2008 | Item | E-mail
BHP raises Rio bid; no immediate Chinese riposte - "BHP Billiton (BHP.AX: Quote, Profile, Research) launched a sweetened but hostile $147.4 billion bid for rival miner Rio Tinto (RIO.AX: Quote, Profile, Research) on Wednesday, ending months of speculation and setting the stage for the world's second-largest takeover." More
- February 06, 2008 | Item | E-mail
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-- Posted 6 February, 2008 | |
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