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-- Posted 6 February, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week | Gold | $912.30 | -$0.25 | -1.50% | Silver | $13.125 | +$0.335 | +4.21% | XAU | 129.72 | +2.28% | +4.60% | HUI | 306.99 | +2.12% | +2.30% | GDM | 973.47 | +2.12% | +3.74% | JSE Gold | 2500.51 | +56.25 | -5.04% | USD | 85.34 | -0.60 | -0.64% | Euro | 129.45 | +1.56 | +1.19% | Yen | 108.76 | -0.94 | -2.15% | Oil | $40.17 | -$1.00 | -3.62% | 10-Year | 2.979% | +0.079 | +4.75% | Bond | 125.84375 | -1.0625 | -0.68% | Dow | 8280.59 | +2.70% | +3.50% | Nasdaq | 1591.71 | +2.94% | +7.81% | S&P | 868.60 | +2.69% | +5.17% |
The Metals:  Gold climbed $7.05 to $919.60 before plunging to $903.78 shortly after this morning’s jobs report was released, but it then rallied back higher into the close and ended with a miniscule loss of just 0.03%. Silver fell 4 cents to $12.75 by late trade in Asia, but it then rose throughout most of trade in London and New York and ended near its high of $13.20 with a gain of 2.62%.
Euro gold fell to about €706, platinum gained $21.50 to $992, and copper gained over 12 cents to about $1.62. Gold and silver equities traded just mostly slightly higher in morning trade, but they then steadily climbed higher in afternoon action and ended with over 2% gains on the day. The Economy: Report | For | Reading | Expected | Previous | Nonfarm Payrolls | Jan | -598K | -540K | -577K | Unemployment Rate | Jan | 7.6% | 7.5% | 7.2% | Average Workweek | Jan | 33.3 | 33.3 | 33.3 | Hourly Earnings | Jan | 0.3% | 0.2% | 0.4% | Consumer Credit | Dec | -$6.6B | -$3.5B | -$11.0B |
The BLS Net Birth/Death adjustment subtracted 356,000 payrolls from January’s data. All of this week’s other economic reports: Next week’s economic highlights include Wholesale Inventories on Tuesday, the Trade Balance and Treasury Budget on Wednesday, Initial Jobless Claims, Retail Sales, and Business Inventories on Thursday, and Michigan Sentiment on Friday. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil fell on another round of worse than expected economic data that indicates continued weak demand. The U.S. dollar index and treasuries fell while the Dow, Nasdaq, and S&P rose on indications that Obama’s stimulus package will be passed soon. Among the big names making news in the market Friday were Biogen, News Corp, Toyota, AIG, and Aon. The Commentary: “Dear Friends, 1. The position of Volcker as Chairman of the Economic Advisory Board is a window dressing presently to placate conservatives. 2. Chairman Volcker is there, but on his own agenda, no one else’s. 3. Chairman Volcker, assuming he is blessed with eight more years of life, will once again perform as Master of the Financial Universe, saving whatever then is left of the USD. 4. All you need to do is review Chairman Volcker’s previous and present words to understand that agenda. 5. Yesterday, Chairman Volcker said it would cost trillions more, not billions, to paste together the tattered economy. 6. Chairman Volcker historically has defined the economic condition we are in as the Mother of Financial Crises. MOTHER OF ALL. 7. Chairman Volcker historically has said that the US dollar will decline as long as no policies are put in place with the proven capacity to change deficits towards surpluses. 8. Chairman Volcker had the total backing of the then sitting Administration when he bankrupted the USSR in the early 1980s. 9. Chairman Volcker will act when conditions get so terrible that the sitting Administration applies to him for his help. There will be a price for that help. 10. The Federal Reserve Gold Certificate Ratio, modernized and revitalized, will be adopted as I have outlined to you multiple times. 11. The Chairman will require that policies be put in place that have historical precedent to cause deficits to move towards surpluses, untenable now. 12. That mark to the low is a pummeled dollar below .5100 USDX. 13. This will mark the time for long term investment in companies leading the technology and biomedical fields of that time. 14. As a result of the "FRGCR" the price of gold will go up and remain up. This will effectively defeat 99.9% of the present gold writer’s outlooks for the metal. 15. I believe the most successful owners of gold will be the Carlyle corporation. 16. I believe the consolidator of the gold industry, assuming they rise to Russian and Chinese competition, will be Barrick. This has also been outlined to you multiple times. Respectfully yours,”- Jim Sinclair, JSMineset.com “April Gold closed up 0.1 at 914.3. This was 5.8 up from the low and 4.2 off the high. March Silver finished up 0.41 at 13.16, 0.02 off the high and 0.3 up from the low. Gold saw a choppy two sided trade mostly hovering around either side of unchanged for most of the session as the metal seemed to be unaffected by volatility surges in other markets. The sharper than expected drop in US non-farm payrolls triggered an early break in gold. But as the Dollar fell back and the stock market rallied, gold quickly found its footing and at times moved back into positive territory. It was a bit surprising to see such steady price action in gold considering both silver and copper prices surged on ideas that the bleak economic news will result in the swift passage of a huge stimulus plan that should help revive the economy. It was also surprising that the sharp gains in general commodity prices didn't seem to stir up any inflation buying interest in gold. There was talk that investment money was being pulled away from gold and put back into equities. But in the end perhaps the gold market has become a bit too overbought up at these prices levels to stage a fresh upside initiative. The silver market made another thrust higher underpinned by ideas that the sheer amount of global stimulus being applied will start to revive demand for industrial metals. Silver opened higher and built on gains during the session taking the negative economic news in stride and seeing it at as catalyst that will lead to the quick passage of the US economic stimulus plan. It also looks like some of the buying in silver was inspired by the explosive rallies in both the equity and copper markets as a more optimistic economic view began to take hold. It also appeared that March silver was aided by chart based buying on a move through a critical price level.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts: 
Join GATA this month at the Phoenix conference Hugo Salinas Price: Gold protects and creates jobs South Africa: A rich country insisting on being poor ECB delays on interest rates despite German industrial slump Think they'll keep and publish minutes this time? The Statistics: As of close of business: 2/06/2009 Gold Warehouse Stocks: | 8,487,857 | -81,744 | Silver Warehouse Stocks: | 123,955,435 | -682,376 |
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) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 867.19 | 27,881,022 | US$ 25,649m | London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 130.42 | 4,193,095 | US$ 3,820m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 12.49 | 400,568 | US$ 366m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.90 | 896,897 | US$ 820m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 7.70 tonnes to a new record high holding and the LSE added 0.31 tonnes. COMEX Gold Trust (IAU) Profile as of 2/5/2009 | | Total Net Assets | $2,018,383,110 | Ounces of Gold
in Trust | 2,209,384.186 | Shares Outstanding | 22,450,000 | Tonnes of Gold
in Trust | 68.72 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 2/5/2009 | | Total Net Assets | $3,098,695,351 | Ounces of Silver
in Trust | 242,101,591.900 | Shares Outstanding | 245,450,000 | Tonnes of Silver
in Trust | 7,530.20 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Harmony’s (HMY) second quarter earnings, Exeter’s (XRA) bought deal equity financing, Centerra’s (CG.TO) fourth quarter results, and Fresnillo’s (FRES.L) request to review a move by its takeover target MAG Silver (MVG) to suspend a valuation of the company were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Anglo American | AAUK+8.54% $11.18 | 2. AngloGold | AU +6.59% $27.67 | 3. Lihir | LIHR +5.53% $21.77 |
LOSERS 1. Northern Dynasty | NAK -6.78% $4.95 | 2. Banro | BAA -5.56% $1.70 | 3. Solitario | XPL -3.70% $1.30 |
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: Galahad Metals Inc.: Paul Macdonell Resigns - More
- February 06, 2009 | Item | E-mail
Gossan Appoints New CFO and Awards Stock Options - More
- February 06, 2009 | Item | E-mail
Bear Lake Gold Grants Stock Options - More
- February 06, 2009 | Item | E-mail
Roxmark Mines Limited - Stock Option Grants - More
- February 06, 2009 | Item | E-mail
Oroco Reports a 25.3 Million Tonne Indicated Resource and 4.69 Million Tonne Inferred Resource at Cerro Prieto - More
- February 06, 2009 | Item | E-mail
Nevada Copper-Drilling Expands the North Deposit With Significant Copper Intercepts - More
- February 06, 2009 | Item | E-mail
TEAL Exploration & Mining Incorporated - Report for the three months ended December 31, 2008 - More
- February 06, 2009 | Item | E-mail
Vior Inc.: Appointement of Claude St-Jacques as Chief Officer - More
- February 06, 2009 | Item | E-mail
FNX Issues 2009 Guidance - More
- February 06, 2009 | Item | E-mail
Shoreham Grants Options - More
- February 06, 2009 | Item | E-mail
Metanor Resources Inc.: Nomination of New Chief Financial Officer - More
- February 06, 2009 | Item | E-mail
Aurora Issues Directors' Circular - More
- February 06, 2009 | Item | E-mail
CanAlaska Uranium Ltd. - Uranium-gold-platinum mineralization found at Poplar project, northern Athabasca Basin - More
- February 06, 2009 | Item | E-mail
Harmony Q2 earnings up, sees higher 2009 output - "Harmony Gold (HARJ.J), the world's No. 5 producer, lifted its second quarter earnings due to a weaker rand, and said on Friday its output would rise this year and that it would consider a dividend after June.
Although South Africa has been spared the worst effects of the global financial crisis, markets and the rand have been hit by risk aversion and slower world economic growth." More
- February 06, 2009 | Item | E-mail
Exeter Resource Corporation Announces Bought Deal Equity Financing - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) (the "Company") announced today that it has entered into an agreement with a syndicate of underwriters to sell an aggregate of 10,500,000 common shares of the Company at a price of Cdn.$2.40 for gross proceeds of Cdn.$25,200,000 on a bought deal basis in Canada and a concurrent private placement in the United States to institutional accredited investors (the "Offering")." More
- February 06, 2009 | Item | E-mail
Centerra Gold Reports Record Fourth Quarter Production at Kumtor; Fourth Quarter Earnings of $0.20 per Share - "Record fourth quarter gold production at Kumtor of 236,544 ounces bringing full year gold production at Kumtor to 556,251 ounces. Centerra's consolidated 2008 gold production increased 35% to 748,888 ounces compared to 555,410 ounces a year earlier." More
- February 06, 2009 | Item | E-mail
Fresnillo wants review of MAG Silver valuation halt - "Mexico's Fresnillo Plc (FRES.L) has asked Canadian regulators to review a move by its takeover target MAG Silver (MAG.TO) (MVG.A) to suspend a valuation of the company, which it alleged on Friday was a delaying tactic.
London-listed Fresnillo -- the world's biggest primary silver producer -- announced a $4.54 a share cash bid on Dec. 1 for the 80.2 percent of MAG it does not already own." More
- February 06, 2009 | Item | E-mail
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-- Posted 6 February, 2009 | |
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