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-- Posted 11 February, 2008 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $922.55 | +$4.35 | Silver | $17.40 | +$0.29 | XAU | 182.08 | +0.46% | HUI | 445.57 | +0.43% | GDM | 1340.01 | +0.04% | JSE Gold | 2326.54 | -67.11 | USD | 76.56 | -0.06 | Euro | 145.14 | +0.02 | Yen | 93.56 | +0.43 | Oil | $93.59 | +$1.82 | 10-Year | 3.618% | -0.036 | T-Bond | 119.28125 | +0.5625 | Dow | 12240.01 | +0.48% | Nasdaq | 2320.06 | +0.66% | S&P | 1339.13 | +0.59% |
The Metals:  Gold rose to $927.20 in London before it fell to $915.60 by midmorning in New York, but it then rallied back higher into the close and ended with a gain of 0.47% and just $4.45 from setting a new record closing high. Silver rose to $17.392 in London before it fell to $17.10 by midmorning in New York, but it then rallied to a new 27 year intraday high of $17.54 and ended at a new 27 year closing high with a gain of 1.7%.
Euro gold rose to a new record closing high at €636, platinum gained $61 to a new record high at $1932, and copper gained a couple of cents to about $3.55. Gold and silver equities fell nearly 2% about an hour into trade, but they then rallied to find slight gains by late morning and remained at about that level for the rest of the day. The Economy: There were no major economic reports today. Tomorrow at 2PM EST brings the Treasury Budget for January expected at $20.0 billion. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose on supply concerns as Chavez threatened to cut off sales of Venezuelan oil to the U.S. and a refinery suffered a power outage. The U.S. dollar index fell slightly as the euro gained on hawkish comments from the ECB over the weekend. Treasuries rose on credit market worries as AIG announced they may be writing down more CDO losses. The Dow, Nasdaq, and S&P fell in morning trade on worries over AIG, but they then rose to find slight gains in afternoon trade on hopes for more interest rate cuts from the fed. Among the big names making news in the market today were American International Group, Yahoo and Microsoft, Ford, Hasbro, Credit Suisse and UBS, JetBlue, Loews, and GM and Toyota. The Commentary:  “April Gold finished up 4.4 at 926.7, 2.8 off the high and 6.7 up from the low.
March Silver closed up 0.36 at 17.47. This was 0.265 up from the low and 0.01 off the high. The gold market found support this morning on sharply higher platinum prices overnight. The platinum market gained on more concerns about an energy crisis in South Africa, with more rolling blackouts expected which will cut mine capacity and which has already hurt platinum production there. The platinum story was enough for gold traders to discount talk of IMF gold stock sales over the weekend. A weaker dollar overnight also supported gold, and sharply higher crude oil prices supported the market later in the session. Talk emanating out of the G7 meeting over the weekend suggesting that economic leaders are prepared to cut interest rates further to encourage growth was also supportive to gold and other precious metals. Silver traded to its highest levels since 1980 today, as the market seemed to gain on sharply higher gold, platinum and copper prices and the generally inflationary tone of the market. Copper gained sharply on a steep drop in LME stocks overnight, and platinum traded to new record highs on the South African energy story, which may have also fueled heavy fund buying.”- The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
John Stepek: Why the rising gold price is a headache for G7 James Turk: Silver is leading Peter Brimelow: Gold's path to $1,000 now clear? No third-party presidential candidacy for Paul Ambrose Evans-Pritchard: Japan is the next sub-prime flashpoint Jim Sinclair: Any IMF sales will be great for gold GATA's ad reaches national audience in South Africa Mobilization of IMF gold just a sign of central bank desperation Debt fears heighten in U.S. and Europe OPEC chief muses about gradually switching oil pricing to euros The Statistics: As of close of business: 2/8/2008 Gold Warehouse Stocks: | 7,636,791 | - | Silver Warehouse Stocks: | 133,863,048 | -688,926 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) | StreetTRACKS Gold Shares | 631.15 | 20,292,100 | US$ 18,591m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 106.28 | 3,416,870 | US$ 3,159m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 17.83 | 573,160 | US$ 530m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.64 | 888,645 | US$ 799m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 2/8/2008 | | Total Net Assets | $1,769,417,113 | 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 2/8/2008 | | Total Net Assets | $2,763,795,816 | Ounces of Silver
in Trust | 163,073,646.800 | Shares Outstanding | 16,450,000 | Tonnes of Silver
in Trust | 5,072.16 |
Note: Change in Total Tonnes from yesterday’s data: 15.42 tonnes were added to the trust. The Stocks: Angloplat’s (AMSJ.J) earnings, Eldorado’s (EGO) mine update, Keegan’s (KGN) drill results, Crystallex’s (KRY) closed offering, and Silvermex’s (SMR.V) completed drill program were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Mines MGMT | MGN+11.01% $3.73 | 2. Endeavour | EXK +7.76% $3.75 | 3. Richmont | RIC +4.93% $3.62 |
LOSERS 1. AngloGold | AU -3.42% $35.07 | 2. Buenaventura | BVN-3.13% $69.34 | 3. Gold Fields | GFI -2.64% $13.29 |
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: Eldorado Gold Corporation: Kisladag Mine Update - "Eldorado Gold Corporation (the "Company") (Toronto:ELD.TO - News)(AMEX:EGO - News) today announced that a decision has been reached relating to the Kisladag EIA (Environmental Impact Assessment). This decision was rendered by the 6th Department of the High Administrative Court in Ankara on February 6, 2008." More
- February 11, 2008 | Item | E-mail
Orex Exploration Inc.: Corporate Update - More
- February 11, 2008 | Item | E-mail
GWR Announces Resumption of Exploration Activities on Lac La Hache - More
- February 11, 2008 | Item | E-mail
Intrinsic Minerals Ltd. Announces Second Option Agreement With Noront Resources Ltd. to Acquire 50% of 17 Claim Blocks in the "Ring of Fire" - More
- February 11, 2008 | Item | E-mail
Pacific Comox: 0.49% Molybdenum or 9.9 Lbs/Ton Molybdenum Reported in Hole 101 Over a 15 Meter Interval Starting 1 Meter From Surface - More
- February 11, 2008 | Item | E-mail
Yale Announces New Director - More
- February 11, 2008 | Item | E-mail
Mawson to trade on the Toronto Stock Exchange - More
- February 11, 2008 | Item | E-mail
Millrock Announces Acquisition of Fortymile District Gold Properties and Reconnaissance Sampling Results - More
- February 11, 2008 | Item | E-mail
Gold Resource Corporation's El Aguila Project Returns 1m of 34.3 g/t Gold Within 9m of 1.4 oz/t Gold Equivalent at La Arista; 10m of 0.55 oz/t Gold Equivalent - More
- February 11, 2008 | Item | E-mail
North American Gem Inc. Continues to Hit Visible Mineralization to the North, as well as below the Terminator to the Northwest - More
- February 11, 2008 | Item | E-mail
Zaruma Resources: New Copper Mineralization at Sapo North Target (San Antonio Project) - More
- February 11, 2008 | Item | E-mail
Tamerlane Contracts Overwrite Of Updated Feasibility Study - More
- February 11, 2008 | Item | E-mail
Tamerlane Contracts Overwrite Of Updated Feasibility Study - More
- February 11, 2008 | Item | E-mail
HuntMountain Secures Surface Rights at La Josefina Gold-Silver Project - More
- February 11, 2008 | Item | E-mail
Keegan Resources Inc.: Esaase Gold Project Infill Drilling Program Continues to Return High Gold Grades - "Keegan Resources Inc. ("Keegan") (CDNX:KGN.V - News)(AMEX:KGN - News) is pleased to announce the results of five new drill infill drill holes from within the existing 43-101 resource area. Highlights include 42 meters of 8.75 g/t Au and 35 meters of 2.02 g/t Au from drill hole KER264." More
- February 11, 2008 | Item | E-mail
Titan Uranium Options Central Athabasca Properties to Japan Oil, Gas and Metals National Corporation - More
- February 11, 2008 | Item | E-mail
U.S. Precious Metals Hires Chain of Custody Firm - More
- February 11, 2008 | Item | E-mail
Nuinsco Resources Limited Issues Early Warning Report Pursuant to National Instrument 62-103 Regarding Campbell Resources Inc. - More
- February 11, 2008 | Item | E-mail
Canadian Arrow returns drill results of 4.27% Ni and, 0.54% Cu over 5.0 metres at Kenbridge - More
- February 11, 2008 | Item | E-mail
Vior Adopts Shareholder Rights Plan - More
- February 11, 2008 | Item | E-mail
Western Troy Stakes Molybdenum and Uranium Claims in Quebec and Sets 2008 Exploration Plans - More
- February 11, 2008 | Item | E-mail
Gold Canyon Receives Updated NI 43-101 For Cordero: 713,930 kg Gallium Measured & Indicated, 334,590 kg Gallium Inferred - More
- February 11, 2008 | Item | E-mail
Santa Fe Gold Begins Construction of Summit Silver-Gold Mine - More
- February 11, 2008 | Item | E-mail
Silver Falcon Mining, Inc. (SFMI) Reports Millable Grades From Assays - More
- February 11, 2008 | Item | E-mail
Petaquilla Copper Reviews Details of Feed Study - More
- February 11, 2008 | Item | E-mail
Dutch Gold Resources Updates Drilling Program, Filing Status - More
- February 11, 2008 | Item | E-mail
Cartier Signs Agreement for 5 Blocks of Claims at Kinojevis - More
- February 11, 2008 | Item | E-mail
International PBX Ventures Ltd. Engages AMEC for Copaquire Preliminary Economic Assessment - More
- February 11, 2008 | Item | E-mail
Alberta Star Samples 2.35% Copper, 0.33% Zinc and 134.2 g/ton Silver at High Grade Poly-Metallic Discovery Zone at Contact Lake, NT - More
- February 11, 2008 | Item | E-mail
Redcorp Ventures Ltd.: Commencement of Exploration Drill Program Lagoa Salgada Project, Portugal - More
- February 11, 2008 | Item | E-mail
Romarco Intercepts 46 Meter Zone of 5.7 g/t at Haile - More
- February 11, 2008 | Item | E-mail
Virgin Metals Adopts Shareholder Rights Plan and Provides Update on Activities - More
- February 11, 2008 | Item | E-mail
Global Copper Intercepts 356 Meters Grading 1.08% Copper Equivalent in Step-Out Drilling at Relincho - More
- February 11, 2008 | Item | E-mail
Powertech Appoints John Mays Vice President Engineering - More
- February 11, 2008 | Item | E-mail
International Minerals Announces 6.2 Million Ounces of Measured and Indicated Gold Resources and Results From Preliminary Feasibility Study at Gaby Project - More
- February 11, 2008 | Item | E-mail
Aldridge Minerals Inc. announces proceeds of CAD 1.3 million from exercise of warrants - More
- February 11, 2008 | Item | E-mail
Osisko Reports Phase Two Metallurgical Results - More
- February 11, 2008 | Item | E-mail
Radius Gold Inc.: Metallurgical Tests on Tambor Sample Achieve Gold Recoveries of Up to 98% - More
- February 11, 2008 | Item | E-mail
Northland Reports Iron Resource at Tapuli & Excellent Metallurgical Test Results - More
- February 11, 2008 | Item | E-mail
Rolling Rock Commences Domain Drill Program - More
- February 11, 2008 | Item | E-mail
El Nino Ventures to drill Irish Licences - More
- February 11, 2008 | Item | E-mail
Plexmar Acquires Properties in Peru Adjacent to Bolsa Del Diablo - More
- February 11, 2008 | Item | E-mail
Orvana Reports Operating Results for the First Quarter Ended December 31, 2007 - More
- February 11, 2008 | Item | E-mail
Boliden's Increased Ore Reserves and Mineral Resources Opens for Mining Investments - More
- February 11, 2008 | Item | E-mail
Searchlight Minerals Corp. raises $12.75 million through private placements and warrant exercises during January and February - More
- February 11, 2008 | Item | E-mail
Angloplat earnings fall, power cuts to hit output - "Anglo Platinum (AMSJ.J: Quote, Profile, Research), the world's top platinum producer, said 2007 headline earnings per share and production fell, and forecast even lower output for this year mainly due to a power crisis in South Africa that has helped drive the metal's price to a record high." More
- February 11, 2008 | Item | E-mail
Mirabela's Santa Rita mineralization continues 120 meters below open-pit reserve - More
- February 11, 2008 | Item | E-mail
Mirabela announces positive results from smelter scoping study - More
- February 11, 2008 | Item | E-mail
Magnus International Resources Has Commenced 5,000 Meter Drilling Program in Uganda - More
- February 11, 2008 | Item | E-mail
Tornado Gold Reaches New Joint Venture Agreement with Allied Nevada Gold on Two Properties - More
- February 11, 2008 | Item | E-mail
Notice of Filing of Amended Interim Financial Statements and Related Managements Discussion and Analysis - More
- February 11, 2008 | Item | E-mail
Tournigan Adopts Shareholder Rights Plan - More
- February 11, 2008 | Item | E-mail
Copper Fox Metals Inc. - 2007 Year-end Financial Results - More
- February 11, 2008 | Item | E-mail
Silvermex Resources Ltd.: Drill Program Completed at Penasco Quemado Property - "Fourteen infill and extension drill holes totaling 1,254 meters were completed with the objective of increasing the current resource at the Penasco Quemado zone. Preliminary results from 7 of the holes appear to confirm the down dip and lateral extension of the silver resource along strike to the southeast. Once assay results from the final 7 holes are received, a new resource estimate will be completed." More
- February 11, 2008 | Item | E-mail
USA Uranium Appoints Mining Director and Begins Preparation of Qualifying Geological Reports - More
- February 11, 2008 | Item | E-mail
Paladin Energy Announces Intention to Dual List on Namibian Stock Exchange - More
- February 11, 2008 | Item | E-mail
Liberty Star Completes Regional Geochem Analysis and Interpretation of North Pipes Targets - More
- February 11, 2008 | Item | E-mail
Crystallex Closes C$69,069,000 Offering - "Crystallex International Corporation (Toronto:KRY.TO - News) (AMEX:KRY - News) ("Crystallex" or the "Company") announced today that it has completed its previously announced offering of 32,890,000 units at C$2.10 per unit for gross proceeds of C$69,069,000, including 4,290,000 units issuable upon the exercise of the over-allotment option by the syndicate of underwriters." More
- February 11, 2008 | 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 2008 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 11 February, 2008 | |
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