-- Posted 12 May, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $923.45 | +$10.85 |
Silver | $14.23 | +$0.32 |
XAU | 141.75 | +3.57% |
HUI | 354.88 | +3.86% |
GDM | 1075.25 | +4.66% |
JSE Gold | 2589.03 | +65.46 |
USD | 82.36 | -0.36 |
Euro | 136.42 | +0.65 |
Yen | 103.70 | +1.15 |
Oil | $58.85 | +$0.35 |
10-Year | 3.175% | -0.005 |
T-Bond | 122.015625 | +0.265625 |
Dow | 8469.11 | +0.60% |
Nasdaq | 1715.92 | -0.88% |
S&P | 908.35 | -0.10% |
The Metals:
Gold traded mostly slightly lower in Asia and rose in London to as high as $922.80 by about the open in New York before it pared its gains by over half in midmorning trade, but it the shot back higher in the last few hours of trade and ended at its new high of the session with a gain of 1.19%. Silver also traded slightly lower in Asia and rose in London to as high as $14.33 by about the open in New York before it pared its gains a bit for most of the rest of the day, but it still ended with a gain of 2.3%.
Euro gold climbed to about €678, platinum gained $10 to $1122.50, and copper remained at about $2.09.
Gold and silver equities steadily climbed for most of the day and ended at or near their session highs with about 4% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Trade Balance | Mar | -$27.6B | -$29.0B | -$26.1B |
Treasury Budget | Apr | -$20.9B | -$20.0B | $159.3B |
Wow! -> U.S. Posts First Budget Deficit for April Since ‘83 Bloomberg
Bernanke says early response to bank tests encouraging Reuters
Home Prices in U.S. Fall 14% as Banks Sell Foreclosed Houses Bloomberg
Tomorrow at 8:30AM EST brings Import and Export Prices for April, Retail Sales for April expected at -0.1%, and sales excluding autos expected at 0.0%. At 10AM is the Business Inventories report for March expected at -1.1%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil briefly climbed to over $60 before it fell back off some, but it still ended with a gain as the U.S. dollar index fell on increased risk appetite that encouraged traders to put cash to work in real assets.
Treasuries and the Dow, Nasdaq, and S&P traded mixed near unchanged as traders await and then judge the details and success of various debt offerings from the many companies in need of capital.
Among the big names making news in the market today were Citigroup, Alpha Natural and Foundation Coal, Bank of America, EADS, Nissan, and Ford.
The Commentary:
“June Gold closed up 10.4 at 923.9. This was 7.9 up from the low and 0.4 off the high.
July Silver finished up 0.305 at 14.215, 0.05 off the high and 0.13 up from the low.
The June gold contract waffled around the $918 level throughout the trading session but all things considered the bull camp had to be somewhat emboldened with the general capacity to favor the upside. The gold market could have been undermined by the sharp slide in the US equity market and the apparent deterioration of macro economic sentiment that seemed to develop during the trade today. After the typical slide in gold prices into the scheduled US data flow, the gold market did manage to recover and return to the relative proximity to the early highs.
The silver market saw initial strength but like gold and a host of other physical commodity markets, the setback in the equity markets and or the slight bounce in the US Dollar was apparently a little discouraging to the bull camp in silver. However, silver generally weathered the deterioration in macro economic sentiment and or the slight resurgence of deflation that seemed to be present during the trade Tuesday.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Likening GATA to terrorists, GFMS exec refuses debate
Ted Butler: President Johnson pledged to rig silver market
The Statistics:
As of close of business: 5/12/2009
Gold Warehouse Stocks: | 8,494,330 | - |
Silver Warehouse Stocks: | 118,098,680 | +590,540 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,104.09 | 35,497,611 | US$ 32,405m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 132.87 | 4,272,050 | US$ 3,945m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.50 | 433,202 | US$ 401m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 29.33 | 943,099 | US$ 861m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.1 tonnes and the JSE added 0.24 tonnes.
COMEX Gold Trust (IAU)
Profile as of 5/11/2009 | |
Total Net Assets | $2,005,977,250 | Ounces of Gold
in Trust | 2,197,389.159 |
Shares Outstanding | 22,350,000 | Tonnes of Gold
in Trust | 68.35 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 5/11/2009 | |
Total Net Assets | $3,730,233,164 | Ounces of Silver
in Trust | 268,400,195.900 |
Shares Outstanding | 272,450,000 | Tonnes of Silver
in Trust | 8,348.18 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Richmont’s (RIC) now largest shareholder, ITH’s (THM) drill results, and Great Panther’s (GPR.TO) financial results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. New Gold | NGD +14.58% $2.20 |
2. NovaGold | NG +14.56% $3.54 |
3. Western Goldfields | WGW +13.16% $2.15 |
LOSERS
1. Mines MGMT | MGN -5.26% $1.62 |
2. Coeur | CDE -3.80% $1.52 |
3. Freeport | FCX-3.67% $49.11 |
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:
Mineral Hill Announces Private Placement and Property Acquisition - More
- May 12, 2009 | Item | E-mail
Ventana Extends La Mascota to Depth and Discovers New Mineralized Zone - More
- May 12, 2009 | Item | E-mail
Merc International Provides Operational Update - More
- May 12, 2009 | Item | E-mail
Richfield amalgamates Dave Property with recently optioned Davidson Project - More
- May 12, 2009 | Item | E-mail
Helio Resumes Diamond Drilling at the Porcupine Target, SMP Gold Project, Lupa Goldfields, Tanzania - More
- May 12, 2009 | Item | E-mail
Network closes private placement - More
- May 12, 2009 | Item | E-mail
Azteca Gold Corp.: Two Mile Update and Closing Date of Private Placement - More
- May 12, 2009 | Item | E-mail
Caldera Corporate Update - More
- May 12, 2009 | Item | E-mail
Canadian Royalties' Joint Venture Update: Transfer of 80% Interest in the Expo-Ungava Property and Arrears Cash Call - More
- May 12, 2009 | Item | E-mail
Langmuir #1 Project Update - More
- May 12, 2009 | Item | E-mail
SEMAFO Reports Net Income of $8.9 Million for the First Quarter 2009 - More
- May 12, 2009 | Item | E-mail
RSM Announces Its Voluntary Delisting of Its Common Shares on the TSX Venture Exchange and Plans to Accelerate Its Nevada Gold Development Activities - More
- May 12, 2009 | Item | E-mail
EurOmax's business combination partner, Silk Road Resources, announces sale of Chinese gold project - More
- May 12, 2009 | Item | E-mail
International Wayside Gold Mines Ltd.: Update on QR Mine and Mill Proposed Acquisition - More
- May 12, 2009 | Item | E-mail
Talon Metals reports first quarter 2009 results - More
- May 12, 2009 | Item | E-mail
Stellar Resources, Ltd. appoints new CEO - More
- May 12, 2009 | Item | E-mail
Orvana Minerals Reaffirms Intention to Offer to Acquire Kinbauri Gold Corp. for $0.55 Per Share - More
- May 12, 2009 | Item | E-mail
MPH Ventures Acquires Five Gold Properties in Southeastern Ontario - More
- May 12, 2009 | Item | E-mail
BacTech to Consider Spin-Out of Gold Subsidiary - More
- May 12, 2009 | Item | E-mail
Capital Gold Announces Additional Secondary Crushing Module Is Operational - More
- May 12, 2009 | Item | E-mail
Mustang Provides Update on Maskwa Nickel Project Feasibility Study and Exploration Results - More
- May 12, 2009 | Item | E-mail
Southwestern Shareholders and BC Supreme Court Approve Plan of Arrangement With Hochschild Mining plc - More
- May 12, 2009 | Item | E-mail
Colorado Goldfields Inc. -- Live Video on Day One Pride of the West Mill Reactivation, Part 3 of a Series - More
- May 12, 2009 | Item | E-mail
Apollo Solar Announces Results of Independent Technical Review of Dashuigou and Majiagou Tellurium Projects - More
- May 12, 2009 | Item | E-mail
Thundermin and Cornerstone Continue to Intersect High Grade Copper Mineralization on the Little Deer Copper Deposit, Springdale Area, Newfoundland - More
- May 12, 2009 | Item | E-mail
Drilling Extends Gold Mineralization To Over 365 Metres On Houston Lake Mining's Dubenski Property - More
- May 12, 2009 | Item | E-mail
Capstone Reports Exceptional Copper-Gold Grades at Minto North - Best Ever Drill Intercepts - More
- May 12, 2009 | Item | E-mail
European Goldfields Limited results for Q1 2009 - More
- May 12, 2009 | Item | E-mail
Pancontinental Uranium Corporation: 2009 Exploration Plans - More
- May 12, 2009 | Item | E-mail
White Mountain Completes US$ 1 Million Financing and Readies Cerro Blanco Titanium Project for Stage 2 Pilot Plant Trials. - More
- May 12, 2009 | Item | E-mail
European Goldfields Ltd -- Q1 MD&A - Part 3 - More
- May 12, 2009 | Item | E-mail
European Goldfields Ltd -- Q1 Financials - Part 2 - More
- May 12, 2009 | Item | E-mail
European Goldfields Ltd -- Q1 Results News Release Part 1 - More
- May 12, 2009 | Item | E-mail
African Copper Plc: Agreement Between ZCI and Moolman - More
- May 12, 2009 | Item | E-mail
Mr. Greg Chamandy becomes the largest shareholder of Richmont Mines - "Mr. H. Greg Chamandy, ("Greg Chamandy") announced today that he and entities in which he owns directly or indirectly a majority of the votes (collectively referred to as "We" or "we"), collectively own 2,610,000 common shares of Richmont Mines Inc. ("Richmont" or the "Company"), constituting 10.0% of the outstanding 26,100,000 common shares of the Company. Richmont trades on the Toronto Stock Exchange (the "TSX") and the AMEX stock exchanges under the ticker symbols RIC:TO and RIC, respectively. All purchases of Richmont common shares were made through open market purchases on the TSX commencing January 15, 2009." More
- May 12, 2009 | Item | E-mail
International Tower Hill Announces Latest Winter Program Drill Results From NE and SW Zones, Livengood Gold Deposit, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (CDNX:ITH.V - News)(AMEX:THM - News)(Frankfurt:IW9.F - News) is pleased to announce results from the last nine holes of the 2009 Livengood winter drilling campaign. These holes are from the northern extension of the NE Zone and infill holes in the SW Zone. A total of 34 holes were completed in the winter program, which not only demonstrated the continuation of the large bulk tonnage gold system (which still remains open in all directions), but also provided valuable infill drill data for the Preliminary Economic Assessment to be completed July 2009." More
- May 12, 2009 | Item | E-mail
Great Panther Achieves Positive Corporate Cash Flow - "These financial results mark a significant milestone in Great Panther's development," stated Robert Archer, Great Panther's President and CEO. "It is extremely rewarding to achieve cash profitability for the first time in the face of such adverse market conditions." More
- May 12, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 12 May, 2009 | |
