-- Posted 20 April, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $885.55 | +$18.75 |
Silver | $12.11 | +$0.28 |
XAU | 117.79 | +2.43% |
HUI | 286.19 | +3.97% |
GDM | 884.94 | +3.71% |
JSE Gold | 2329.76 | +95.82 |
USD | 86.62 | +0.63 |
Euro | 129.28 | -1.14 |
Yen | 102.09 | +1.24 |
Oil | $45.88 | -$4.45 |
10-Year | 2.843% | -0.087 |
T-Bond | 126.65625 | +1.3125 |
Dow | 7841.73 | -3.56% |
Nasdaq | 1608.21 | -3.88% |
S&P | 832.39 | -4.28% |
The Metals:
Gold held near unchanged in Asia and traded just slightly higher in London before it climbed steadily higher in New York and ended near its high of $888.25 with a gain of 2.16%. Silver saw slight gains in Asia and jumped to above $12 shortly after the open in London before it added to its gains in New York and ended near its high of $12.19 with a gain of 2.37%.
Euro gold rose to about €686, platinum lost $43.50 to $1159.50, and copper fell over 9 cents to about $2.10.
Gold and silver equities climbed higher throughout most of the day and ended with roughly 3% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Leading Indicators | Mar | -0.3% | -0.2% | -0.2% |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell nearly 9%, the U.S. dollar index and treasuries rose rather markedly, and the Dow, Nasdaq, and S&P dropped about 4% on renewed worries over the economy and the stability of the financial system as “Bank of America Corp. said it set aside $13.4 billion to cover lending losses.”
Among the big names making news in the market today were Oracle and Sun Microsystems, Bank of America, Glaxo and Stiefel, Eli Lilly, UBS, and PepsiCo.
The Commentary:
“June Gold closed up 19.6 at 887.5. This was 11.9 up from the low and 2.2 off the high.
May Silver finished up 0.315 at 12.105, 0.06 off the high and 0.105 up from the low.
The gold market managed to reject some minor weakness in the early morning action and then the market impressively extended the strength throughout the trading session. In fact, considering the magnitude of the gains in the Dollar, the strength in gold prices at the start of the new week was really impressive. With a sharp down day in the equity market and weakness in a host of physical commodities, the gold market had to be garnering some flight to quality interest. However, seeing the prospect of a labor dispute in the South African mining sector and the presence of US bank sector turmoil rumors was evidently more than enough fodder to send gold prices soaring. With the gold market (at least temporarily) rising above the 100 day moving average, it is also possible that some technical based buying was in motion during the trade Monday.
Like the gold market, the silver market managed a temporary rise above the 100 day moving average. However, the silver trade could easily have been undermined by a soaring Dollar, sharply falling oil prices and weakness in platinum and copper prices. On the other hand, the silver trade was apparently able to discount classic slowing concerns and instead find fresh flight to quality buying interest.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Peter Brimelow: Gloom about gold except among the radical bugs
Fed's authority likely will be restricted, Volcker says
China says reserve currency countries need supervision
The Statistics:
As of close of business: 4/20/2009
Gold Warehouse Stocks: | 8,452,993 | +8,851 |
Silver Warehouse Stocks: | 116,451,045 | +496,319 |
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 | 1,105.98 | 35,558,287 | US$ 30,947m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 133.04 | 4,277,399 | US$ 3,787m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.15 | 422,053 | US$ 374m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 29.22 | 939,418 | US$ 817m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 4m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 13.45 tonnes.
SPDR Gold Trust holdings fall 13.45 T to 1,105.98 T Reuters
COMEX Gold Trust (IAU)
Profile as of 4/17/2009 | |
Total Net Assets | $1,889,221,372 | 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 4/17/2009 | |
Total Net Assets | $3,239,613,875 | 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:
Great Basin’s (GBG) drill results, Barrick’s (ABX) gold mine project at Mount Tenabo, Bear Creek’s (BCM.V) updated resource estimate, and Fortuna’s (FVI.V) silver production were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Randgold | GOLD+10.07% $45.78 |
2. Vista Gold | VGZ +8.62% $2.14 |
3. Agnico-Eagle | AEM +7.61% $46.97 |
LOSERS
1. Taseko | TGB -14.57% $1.29 |
2. Freeport | FCX -9.88% $39.11 |
3. Anglo American | AAUK -8.85% $9.37 |
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:
Arianne Completes a $246,000 Financing - More
- April 20, 2009 | Item | E-mail
Molycorp Minerals, LLC Signs Letter of Intent to Acquire Controlling Interest in Great Western Minerals Group - More
- April 20, 2009 | Item | E-mail
Castle Gold Announces Start of Operations for New Equipment Fleet at El Castillo Mine - More
- April 20, 2009 | Item | E-mail
Canyon Copper Announces Appointment of New Director and Approval of 1-for-3 Reverse Stock Split - More
- April 20, 2009 | Item | E-mail
Eloro Announces Sale of 10 Mining Claims in the Timmins Area in Northeastern Ontario - More
- April 20, 2009 | Item | E-mail
Asia Now Sets High Priority Targets for 2009 - More
- April 20, 2009 | Item | E-mail
Colorado Goldfields Inc. - Reaffirms November 2008 ALERT: Gold Discovery Breakthrough With State-of-the-Art NITON XRF Testing at Gold King Mine - More
- April 20, 2009 | Item | E-mail
Eagle Plains Drills Intersect High-Grade Gold at Iron Range - More
- April 20, 2009 | Item | E-mail
Nebu Acquires Properties Adjacent to West Timmins Mining Inc. and Elsewhere in Timmins Ontario Area - More
- April 20, 2009 | Item | E-mail
Dominion Purchases 100% of Cerro Chorcha Copper Project from Bellhaven - More
- April 20, 2009 | Item | E-mail
Uranium Resources, Inc. Receives Ruling from Tenth Circuit Court of Appeals - More
- April 20, 2009 | Item | E-mail
Houston Lake Mining Drills 16 Metres Grading 6.44 g/t Gold at the Dubenski Property - More
- April 20, 2009 | Item | E-mail
Trimax Corporation Closes the Purchase of San Bernardo Mining Properties in Sonora, Mexico - More
- April 20, 2009 | Item | E-mail
Pediment Reports Metallurgical Testing at Los Planes With Over 80% Gold Recovery - More
- April 20, 2009 | Item | E-mail
Uruguay Mineral Exploration Inc: Stock Options Granted - More
- April 20, 2009 | Item | E-mail
LOI on Globex's Nova Scotia Assets - More
- April 20, 2009 | Item | E-mail
Kodiak Announces Completion of Hercules Technical Assessment Report, Hercules Drill Results and Land Acquisition in the Beardmore-Geraldton Gold Belt - More
- April 20, 2009 | Item | E-mail
Grenville Gold Corporation: Mary P. Webster Appointed Director, Sights Set on Developing High Grade Copper Mine - More
- April 20, 2009 | Item | E-mail
Adriana Appoints New Directors to Board - More
- April 20, 2009 | Item | E-mail
Radius Gold Inc.: Drilling Commences at the Rubi Gold-Silver Project, Peru - More
- April 20, 2009 | Item | E-mail
Platinex's Herrick Vein Expanding - More
- April 20, 2009 | Item | E-mail
Shoreham-Infinito JV Receives Marudi Mining License - More
- April 20, 2009 | Item | E-mail
Strathmore Advances Roca Honda Water Discharge Permit - More
- April 20, 2009 | Item | E-mail
Baffinland Reports Excellent Results From Testing of Its Mary River Fine Iron Ore Trial Cargo - More
- April 20, 2009 | Item | E-mail
Tombstone Exploration Updates Shareholders on Progress and Current Plans - More
- April 20, 2009 | Item | E-mail
Colorado Goldfields Inc. Reaffirms Insiders' Common Share Lock-up - More
- April 20, 2009 | Item | E-mail
Sparton Resources Inc.: SBD Gold Project, Nevada, Advance Royalty Payment Made in Shares - More
- April 20, 2009 | Item | E-mail
Ventura Elects to Increase Interest in Inmaculada Gold-Silver Project, Peru to 70% - More
- April 20, 2009 | Item | E-mail
Hinge Zone Drilling Adds New Western Gold Zones and Confirms High Grade - More
- April 20, 2009 | Item | E-mail
Victory Nickel Adopts Shareholder Protection Rights Plan - More
- April 20, 2009 | Item | E-mail
Wesdome Gold Mines Ltd. - High grade 811 Zone extended 1,000 feet at depth - More
- April 20, 2009 | Item | E-mail
Paladin Energy Ltd: Kayelekera Uranium Mine Opening - More
- April 20, 2009 | Item | E-mail
Osisko Intersects 191 Metres Averaging 2.16 g/t Au at South Barnat - More
- April 20, 2009 | Item | E-mail
Bannerman Resources Releases March Quarter Activities Report - More
- April 20, 2009 | Item | E-mail
Paladin spikes on uranium prices, mine opening - More
- April 20, 2009 | Item | E-mail
Bear Creek announces positive Scoping Study and updated resource estimate at Santa Ana deposit annual production of 4.6 million ounces silver - "The placing of economic parameters around the Santa Ana deposit represents a significant milestone for Bear Creek as we can now speak to developing two large, economically robust silver deposits containing over 450 million ounces of silver in measured and indicated resources, which includes Corani. The scoping study demonstrates that Santa Ana has the capacity to become a significant and robust silver producer and a project that can be placed into production in a short time frame given that the deposit outcrops at surface and the silver will be recovered utilizing low-cost, conventional heap leach pads adjacent to the open pit mine." More
- April 20, 2009 | Item | E-mail
Great Basin Gold Continues to Encounter Bonanza Gold Grades at Hollister Property - "Great Basin Gold Ltd. ("Great Basin Gold" or the "Company"), (TSX: GBG; NYSE Amex: GBG; JSE: GBG) announces further high-grade exploration drilling results at its Hollister property in Nevada for the quarter ending March 31, 2009. An exceptional result was achieved with underground borehole HDB-274 which intersected 50.11 oz per short ton ("opt") over 0.7 ft (1,718 g/t Au over 0.23 m) on the western strike extension of the Central Clementine vein. This is 1 of 25 vein intersections during the quarter in excess of 1 opt Au (34.28 g/t Au)." More
- April 20, 2009 | Item | E-mail
Fortuna Reports Record Silver Production in First Quarter 2009, 32% Increase Over Fourth Quarter 2008 - "Fortuna is moving steadily towards delivering 1.6 million ounces of pure silver for 2009, which should account for approximately 50 % of revenue, along with significant by-product lead, zinc and copper. Management at Caylloma is focusing on the development of the high grade silver structures while maintaining an optimal production blend. The start-up of the copper circuit and the plant expansion will strengthen the Company's financial performance in the coming year." More
- April 20, 2009 | Item | E-mail
Western Shoshone gather at NV mountain being mined - "Organizers say this year's gathering is intended to drum up support for Western Shoshone and conservationists who are trying to halt Barrick Gold Corp.'s huge gold mine project at Mount Tenabo.
A federal judge has refused their request to block the 6,700-acre Cortez Hills project, but their appeal is pending before the 9th U.S. Circuit Court of Appeals." More
- April 20, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 20 April, 2009 | |
