-- Posted 14 April, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $890.80 | -$3.85 |
Silver | $12.795 | +$0.035 |
XAU | 123.75 | -0.78% |
HUI | 299.05 | -0.64% |
GDM | 921.22 | -0.87% |
JSE Gold | 2378.62 | -13.69 |
USD | 84.71 | +0.19 |
Euro | 132.66 | -1.01 |
Yen | 101.10 | +1.20 |
Oil | $49.41 | -$0.64 |
10-Year | 2.786% | -0.059 |
T-Bond | 127.65625 | +0.5625 |
Dow | 7920.18 | -1.71% |
Nasdaq | 1625.72 | -1.67% |
S&P | 841.50 | -2.01% |
The Metals:
Gold rose $3.65 to $898.30 in Asia before it fell to as low as $886.05 by about 10:30AM EST in New York, but it then rallied back higher in the last few hours of trade and ended with a loss of just 0.43%. Silver rose a couple of cents to $12.78 in Asia before it fell back off in London and early New York trade to as low as $12.56 by about 10AM EST, but it then shot back higher into the close and ended near its new session high of $12.802 with a gain of 0.27%.
Euro gold rose to about €671, platinum lost $31 to $1210, and copper fell slightly to about $2.12.
Gold and silver equities rose about 1% by early afternoon, but they then fell back off into the close and ended with slight losses.
The Economy:
Report | For | Reading | Expected | Previous |
PPI | Mar | -1.2% | 0.0% | 0.1% |
Core PPI | Mar | 0.0% | 0.1% | 0.2% |
Retail Sales | Mar | -1.1% | 0.3% | 0.3% |
Retail Sales ex-auto | Mar | -0.9% | 0.0% | 1.0% |
Business Inventories | Feb | -1.3% | -1.2% | -1.3% |
Obama Says ‘Pitfalls’ Ahead Before Economy Recovers Bloomberg
Bernanke Sees Signs U.S. Contraction May Be Slowing Bloomberg
Tomorrow at 8:30AM EST brings CPI for March expected at 0.2%, Core CPI expected at 0.1%, and Empire Manufacturing for April expected at -35.0. At 9AM brings Net Long-Term TIC Flows, at 9:15 brings Capacity Utilization for March expected at 69.7% and Industrial Production expected at -0.9%, and at 2PM brings the fed’s Beige Book.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell slightly as economic worries overcame the EIA’s increased consumption forecast.
The U.S. dollar index and treasuries rose while the Dow, Nasdaq, and S&P fell on poor retail sales and Obama’s remarks that were not very market supportive.
Among the big names making news in the market today were Walgreen, Ford, Goldman Sachs, J&J, and the airlines.
The Commentary:
“June Gold closed down 3.8 at 892. This was 4.9 up from the low and 2.9 off the
high.
May Silver finished down 0.003 at 12.765, 0.025 off the high and 0.215 up from the low.
The gold market flopped around on both sides of unchanged on Tuesday as the trade was alternatively undermined by weaker than expected US retail sales readings and a much softer than expected US PPI reading. It did seem as if the sharper than expected decline in US Business inventory readings provided gold with a slight lift but the gold market was periodically kept off balance because of periodic strength in the US Dollar. It also seemed like flight to quality sentiment for gold was dented.
The silver market started out weak and fell rather sharply through the first set of US economic data. However, the silver market seemed to bottom right into the second set of US data and at times in the early afternoon action the May silver contract had managed a recovery bounce of roughly 24 cents an ounce. The silver market probably wasn't greatly impacted by the news of as expected 1st quarter silver production from Endeavour Silver but the silver market might have been undermined as a result of news that the Endeavour production was a noted jump above last years figures.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Ted Butler: A nice setup for silver
Gene Arensberg: Chances rise for big silver short squeeze
The Statistics:
As of close of business: 4/14/2009
Gold Warehouse Stocks: | 8,579,895 | -322 |
Silver Warehouse Stocks: | 115,673,204 | -262,356 |
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 | 1,127.68 | 36,255,954 | US$ 31,919m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 136.22 | 4,379,765 | US$ 3,899m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 12.49 | 400,281 | US$ 357m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 29.22 | 939,501 | US$ 827m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 4m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.07 tonnes.
COMEX Gold Trust (IAU)
Profile as of 4/13/2009 | |
Total Net Assets | $1,948,777,849 | Ounces of Gold
in Trust | 2,178,445.298 |
Shares Outstanding | 22,150,000 | Tonnes of Gold
in Trust | 67.76 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 4/13/2009 | |
Total Net Assets | $3,326,356,147 | Ounces of Silver
in Trust | 270,484,574.500 |
Shares Outstanding | 274,450,000 | Tonnes of Silver
in Trust | 8,413.01 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Royal Gold’s (RGLD) closed public offering of common stock, Gammon’s (GRS) quarterly production, Lihir’s (LIHR) mine update, Endeavour’s (EXK) quarterly production, Silvermex’s (SMR.V) completed project purchase, and Pan American’s (PAAS) joint venture with Orko (OK.V) were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Nevsun | NSU +13.64% $1.25 |
2. Solitario | XPL +4.00% $1.30 |
3. Mines MGMT | MGN +3.23% $1.60 |
LOSERS
1. Tanzanian Royalty | TRE -10.82% $3.05 |
2. Taseko | TGB -7.14% $1.56 |
3. International Royalty | ROY -5.10% $2.23 |
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:
Noront Resources utilizing five drills in Ring of Fire - More
- April 14, 2009 | Item | E-mail
Royal Gold Announces the Closing of Its Public Offering of Common Stock - "ROYAL GOLD, INC. (Nasdaq: RGLD - News; TSX: RGL - News), a leading precious metals royalty company, announced today the closing of its public offering of common stock pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission and a shelf prospectus filed with certain Canadian securities regulatory authorities." More
- April 14, 2009 | Item | E-mail
Augen Gold Completes Previously Announced Shares-for-Debt Conversion - More
- April 14, 2009 | Item | E-mail
Endeavour Silver Production on Target in First Quarter, 2009; Produces 609,548 oz Silver (Up 21%) and 2,481 oz Gold (Up 73%) or 783,218 oz Silver-Equivalents - "Endeavour Silver Corp. (TSX:EDR - News; NYSE Alternext US:EXK)(NYSE Amex:EXK.A)(DBFrankfurt:EJD) announces that silver production from the Company's two operating silver mines in Mexico, Guanacevi in Durango State and Guanajuato in Guanajuato State, came in on target in the First Quarter, 2009, totalling 609,548 oz silver, up 21% over Q1, 2008." More
- April 14, 2009 | Item | E-mail
Capstone Reports Additional High Grade Intercepts & Expanded Drill Program at Minto North - More
- April 14, 2009 | Item | E-mail
Avalon Announces Latest Thor Lake Drilling Results Extend High Grade Basal REE Zone, Over 100 Metres to South - More
- April 14, 2009 | Item | E-mail
Hana Mining Intersects 1.47% Cu and 36.5 g/t Ag Over 10.0 Meters Including 3.07% Cu and 75.9 g/t Ag Over 3.0 Meters at Banana Zone-Ghanzi Copper-Silver Project - More
- April 14, 2009 | Item | E-mail
C2C Producing Gold in Ecuador - More
- April 14, 2009 | Item | E-mail
Capella Mobilizes Drill Rig to Nevada Gold Project in Chile - More
- April 14, 2009 | Item | E-mail
Metanor Resources Inc.: Barry Pit Still Growing-New Extensions Confirmed by Drilling - More
- April 14, 2009 | Item | E-mail
Access available for Inmet Mining annual meeting of shareholders and subsequent first quarter conference call - More
- April 14, 2009 | Item | E-mail
Virginia Announces an Initial Mineral Resource Estimate for Coulon - More
- April 14, 2009 | Item | E-mail
MDN Acquires an Advanced Development Project in Quebec - More
- April 14, 2009 | Item | E-mail
Oromin Explorations Ltd.: First 2009 Drill Results Continue to Expand Sabodala Gold Deposits-Wide-Spread High-Grade Assays Reported at Kerekounda Deposit - More
- April 14, 2009 | Item | E-mail
Silvermex Resources Ltd.: Acquisition of Penasco Quemado Silver Project Completed - "Silvermex Resources Ltd. (CDNX:SMR.V - News) is pleased to announce that it has completed the purchase of a 100% interest in the Penasco Quemado silver project. The Penasco Quemado project totals 36,000 hectares in north-central Sonora, Mexico." More
- April 14, 2009 | Item | E-mail
Evolving Gold Defines Extensive Zone of Gold Mineralization at Rattlesnake Hills - More
- April 14, 2009 | Item | E-mail
Aggressive Start to Expose Gold and Copper Ore Body on Elray's Porphyry Creek Project - More
- April 14, 2009 | Item | E-mail
Dominion Minerals Announces Resignation from Its Board of Directors - More
- April 14, 2009 | Item | E-mail
Gammon Reports Preliminary First Quarter Production of 55,480 Gold Equivalent Ounces at Cash Costs of $426 per Ounce - "As targeted, quarterly production was in line with the Q3, 2008 period despite the required downtime on milling operations and the intentional processing of lower grade materials to effect the accelerated commissioning of the Phase II mill expansion. The expanded mill is now fully commissioned and is performing to design specifications, which together with the in-process Phase III mill expansion, is expected to significantly benefit future quarterly performance levels. Equally important, Company wide cash costs at our 55:1 long term gold equivalency guidance reduced by 23% from the same period in 2008." More
- April 14, 2009 | Item | E-mail
Canadian Mining Fast Tracks Raquel Anomaly - More
- April 14, 2009 | Item | E-mail
Armistice Resources Corp. files technical report and announces intention to bring its McGarry Gold Project into production - More
- April 14, 2009 | Item | E-mail
Monroe Minerals Announces Drilling Results on Ucore's Lost Pond Property - More
- April 14, 2009 | Item | E-mail
La Mancha's Conceptual VMS Deposit for its Hassa Property Increases to 60 million tonnes - More
- April 14, 2009 | Item | E-mail
Azimut grants stock options - More
- April 14, 2009 | Item | E-mail
Romarco announces change to option grants - More
- April 14, 2009 | Item | E-mail
Detour Gold Executes Joint Venture Agreement With Trade Winds for Block A Located West of Detour Lake, Ontario - More
- April 14, 2009 | Item | E-mail
Hinge Zone Step Out Hole Hits Highest Grade to Date for San Gold - More
- April 14, 2009 | Item | E-mail
Abitex assays 2.15% U3O8 and 17.25 g/t gold on new discovery in Otish Mountains, Quebec - More
- April 14, 2009 | Item | E-mail
Denison Announces Proposed Strategic and Offtake Relationship With KEPCO and CDN$94.9 Million Equity Placement - More
- April 14, 2009 | Item | E-mail
Melkior Drills 55.2 g/t Gold Over 1 Metre in Carscallen (Formerly Timmins West Property) - More
- April 14, 2009 | Item | E-mail
Canstar Acquires New Claims Adjacent to Mary March Property - More
- April 14, 2009 | Item | E-mail
Capstone Reports Record First Quarter Copper Production & Operating Costs - More
- April 14, 2009 | Item | E-mail
CityView Announces Boardroom Radio Interview Available Online - More
- April 14, 2009 | Item | E-mail
Core Drilling Commences on Sacre-Coeur's Largest Target to Date, Zone 2 at Million Mountain Project - More
- April 14, 2009 | Item | E-mail
Andean Resources: Cerro Negro Drilling and Exploration Update - More
- April 14, 2009 | Item | E-mail
Pan American Silver and Orko Silver to Jointly Advance the "La Preciosa" Silver Project - "Pan American Silver Corp. ("Pan American") (Toronto:PAA.TO - News)(NasdaqGS:PAAS - News) and Orko Silver Corp. ("Orko") (CDNX:OK.V - News) are pleased to announce that they have reached an agreement for the joint development of Orko Silver's La Preciosa silver project in the state of Durango, Mexico." More
- April 14, 2009 | Item | E-mail
LGL (Lihir Gold Limited): Ballarat Update - "Lihir Gold Ltd (Toronto:LGG.TO - News)(ASX:LGL.AX - News)(NasdaqGS:LIHR - News) ("LGL") announces plans to streamline operations at the Ballarat gold mine in Victoria following mixed results previously reported from early mining in the southern and central zones of the goldfield." More
- April 14, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 14 April, 2009 | |
