-- Posted 28 May, 2009 | | Source: SilverSeek.com
Please Note: There will not be a Gold Seeker report tomorrow, Friday the 29th.
| Close | Gain/Loss |
Gold | $960.80 | +$7.55 |
Silver | $15.12 | +$0.295 |
XAU | 155.34 | +4.24% |
HUI | 385.47 | +4.14% |
GDM | 1186.69 | +4.71% |
JSE Gold | 2675.51 | +64.88 |
USD | 80.50 | +0.09 |
Euro | 139.39 | +1.13 |
Yen | 103.24 | -1.68 |
Oil | $65.08 | +$1.63 |
10-Year | 3.672% | -0.023 |
T-Bond | 117.09375 | +0.40625 |
Dow | 8403.80 | +1.25% |
Nasdaq | 1751.79 | +1.20% |
S&P | 906.83 | +1.54% |
The Metals:
Gold and silver fell roughly 1% in Asia, climbed back near unchanged in London, and rose to find nice gains in New York at as high as $964.55 and $15.25 by late morning before they fell back off a bit in the last couple of hours of trade, but they still ended with gains of 0.79% and 1.99%.
Euro gold rose to about €688, platinum gained $8.50 to $1141, and copper rose slightly to about $2.14.
Gold and silver equities rose over 4% by late morning and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Durable Goods Orders | Apr | 1.9% | 0.5% | -2.1% |
Durables, Ex-Transport | Apr | 0.8% | -0.3% | -2.7% |
Initial Claims | 5/23 | 623K | 628K | 636K |
New Home Sales | Apr | 352K | 360K | 351K |
Mortgage Delinquencies, Foreclosures, 30-Year Rates Increase Bloomberg
Fed May Buy More Assets to Bolster Balance Sheet Bloomberg
Tomorrow at 8:30AM EST brings first quarter GDP expected at -5.5% and the GDP Deflator expected at 2.9%. At 9:45 is Chicago PMI for May expected at 42.0, and at 9:55 is Michigan Sentiment for May expected at 68.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil jumped past $65 for the first time this year as OPEC kept output unchanged and crude inventories fell a much larger than expected 5.4 million barrels.
The U.S. dollar index, treasuries, and the Dow, Nasdaq, and S&P all rose to find decent gains after a government debt auction did not draw as poor demand as feared.
Among the big names making news in the market today were GM, Costco, Visteon, Toys R Us, Heinz, and Time Warner.
The Commentary:
“August Gold closed up 8 at 963.2. This was 12.5 up from the low and 3.5 off the high.
July Silver finished up 0.295 at 15.16, 0.115 off the high and 0.325 up from the low.
The gold market showed early weakness and actually managed a quasi new low for the move before prices reversed and at least temporarily reached the highest level since March 20th. Clearly seeing a failed rally attempt in the Dollar provided the bull camp with some confidence but some traders suggested that "reflation" action was potentially behind some of the gains in gold today. With crude oil prices managing another new high for the move and the Dollar unable to sustain an early upside attempt, it is possible that gold was seeing support from a number of different angles. With the upside breakout in gold prices on the charts it is also possible that gold was seeing some technically related buying interest.
Unlike the gold market, the silver market didn't show as much noted early weakness but prices recovered and charged higher. In fact, the July silver contract managed to reach the highest level since August 14th and that might have sparked some measure of longer term technically related buying. However, with crude oil prices reaching the highest level since November 10th and a host of physical commodity markets showing what seemed to be a wave of buying interest, one can't rule out "reflation" type buying in the markets on Thursday. While the regularly scheduled data wasn't definitively strong, the action in the US equity market at times seemed to make the macro economic outlook feel a little stronger and that probably indirectly served to lift silver prices.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics:
As of close of business: 5/28/2009
Gold Warehouse Stocks: | 8,322,609 | - |
Silver Warehouse Stocks: | 120,106,464 | +196,637 |
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 | 1,118.76 | 35,969,105 | US$ 34,197m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 134.25 | 4,316,255 | US$ 4,144m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.50 | 433,127 | US$ 417m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 31.28 | 1,005,770 | US$ 956m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.15 tonnes.
COMEX Gold Trust (IAU)
Profile as of 5/27/2009 | |
Total Net Assets | $2,112,688,917 | Ounces of Gold
in Trust | 2,217,048.759 |
Shares Outstanding | 22,550,000 | Tonnes of Gold
in Trust | 68.96 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 5/27/2009 | |
Total Net Assets | $3,890,439,376 | 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:
Gold Reserve’s (GRZ) report on Venezuela and Impact’s (IPT.V) exploration results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Solitario | XPL +19.08% $2.06 |
2. Jaguar | JAG +14.89% $8.41 |
3. ITH | THM+11.91% $3.10 |
LOSERS
1. Paramount | PZG-6.92% $1.48 |
2. Cardero | CDY-2.83% $1.03 |
3. Nevsun | NSU-2.72% $1.43 |
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:
Kilo Goldmines Retains Investor Relations Consultants - More
- May 28, 2009 | Item | E-mail
Cartier Resources Announces Amendment of Manneville-Villemontel Option Agreement - More
- May 28, 2009 | Item | E-mail
Castle Gold Reports Record Quarterly Gold Production and $0.01 Per Share Profit in First Quarter 2009 Operating and Financial Results - More
- May 28, 2009 | Item | E-mail
Supreme Resources Ltd.: News Release - More
- May 28, 2009 | Item | E-mail
Great Western Minerals Group Provides Update on Steenkampskraal Project in South Africa - More
- May 28, 2009 | Item | E-mail
Supreme Resources Ltd. - News release - More
- May 28, 2009 | Item | E-mail
Grades Up to 0.94% Uranium Oxide in Rocks From DIOS Butte Zone on Hotish Project - More
- May 28, 2009 | Item | E-mail
Klondike Gold Corp. Joint Venture Partner Chalice Diamond Corp. Receives Funding for Exploration - More
- May 28, 2009 | Item | E-mail
Golden Phoenix and Scorpio Gold Agree to Form a Joint Venture to Restart Gold Production at Mineral Ridge - More
- May 28, 2009 | Item | E-mail
Queenston Intersects High-Grade at McBean - More
- May 28, 2009 | Item | E-mail
Klondike Silver Corp. Commences Drilling on Highly Prospective Segment of the 'Main Lode' Structure on Silver Ridge - More
- May 28, 2009 | Item | E-mail
Chalice Diamond Corp. Receives $348,040 From Exercise of Warrants - More
- May 28, 2009 | Item | E-mail
MDN Inc./Isambara Project: New Gold-Bearing Targets Identified in the Southern Area - More
- May 28, 2009 | Item | E-mail
Golden Chalice Resources Discovers New W3 Target Area at Langmuir - More
- May 28, 2009 | Item | E-mail
Olympus Closes US$3 Million Private Placement - More
- May 28, 2009 | Item | E-mail
Network holds AGM - All resolutions passed and board members appointed - More
- May 28, 2009 | Item | E-mail
International Wayside Gold Mines Ltd.: Court Approves Cross Lake Plan of Arrangement Including Proposed QR Mine & Mill (900 tpd) Acquisition - More
- May 28, 2009 | Item | E-mail
Vantex Resources Ltd./Galloway: 254 Meters @ 0,631 g/t Au - More
- May 28, 2009 | Item | E-mail
TVI Pacific completes third shipment of copper concentrates from Canatuan Mine - More
- May 28, 2009 | Item | E-mail
Teryl Resources Announces the R/C and Core Drilling Programs Have Commenced on the Gil Joint Venture Gold Claims, Fairbanks, Alaska - More
- May 28, 2009 | Item | E-mail
MPH Ventures Expands Historical Intersection on Raney Gold Project - More
- May 28, 2009 | Item | E-mail
Unico, Inc. Announces Shipment of Concentrate Samples From the Deer Trail Mine for Alternative Processing of Gold and Silver - More
- May 28, 2009 | Item | E-mail
Cypress & Skyharbour Mobilize Rig to McKenzie Island for Bruce Channel / Red Lake Gold Project, NW Ontario - More
- May 28, 2009 | Item | E-mail
Nevada Sunrise Completes Updated NI 43-101 Technical Report for Golden Arrow Project - More
- May 28, 2009 | Item | E-mail
Caledonia Mining Report on 2009 AGM and Shareholder Update - More
- May 28, 2009 | Item | E-mail
Shoreham Elaborates on Terms of Guiana Shield Acquisition - More
- May 28, 2009 | Item | E-mail
San Gold Updates Hinge Zone Progress and Adds New High Grade Zones - More
- May 28, 2009 | Item | E-mail
Odyssey Resources Limited and Virginia Mines Inc. Enter Into an Agreement on the FCI and Auclair Projects - More
- May 28, 2009 | Item | E-mail
Virginia and Odyssey Resources Limited to Enter Into a CA$4 M Agreement on the FCI Project and a CA$5 M Agreement on the Auclair Project - More
- May 28, 2009 | Item | E-mail
Etruscan Concludes US$5 Million Debt Financing - More
- May 28, 2009 | Item | E-mail
Zazu's Lik South: Over 3.3 Bn Lbs of Indicated Zinc Resource - More
- May 28, 2009 | Item | E-mail
Northern Superior Resources Inc. Signs Option Agreement With INV on the Thorne Lake Gold Property - More
- May 28, 2009 | Item | E-mail
INV Options Thorne Lake Gold Property From Northern Superior Resources - More
- May 28, 2009 | Item | E-mail
Treasury Metals Announces Resumption of Exploration and Drilling Programs, Goliath Gold Project - More
- May 28, 2009 | Item | E-mail
Minera IRL Limited: La Falda Project, Chile-Strong Geophysical Anomaly Identified - More
- May 28, 2009 | Item | E-mail
Acquisition by Victoria Gold Corp. Approved by Shareholders of StrataGold Corporation - More
- May 28, 2009 | Item | E-mail
Discovery of a high grade uranium prospect, Hotagen District, Sweden - More
- May 28, 2009 | Item | E-mail
Cameco Elects Two New Board Members - More
- May 28, 2009 | Item | E-mail
Mega Silver and Skybridge Development Announce Closing of Business Combination & Appointment of Jim Rogers as CEO - More
- May 28, 2009 | Item | E-mail
Impact Silver continues to find new silver/gold areas at Zacualpan - "Impact Silver, with an existing profitable silver mining operation near Zacualpan in Mexico has huge ground holdings in the area which it is exploring systematically. It is a historic mining area dating back to the Conquistadores, about 3 hours drive northwest from Mexico City. The area is littered with old mining operations, but miners historically went for what was then high grade material and there is plenty seemingly worth mining nowadays in the old mines, while modern exploration is exposing new unworked veins across a huge area." More
- May 28, 2009 | Item | E-mail
Gold Reserve Reports on Venezuelan Government's Failure to Follow Its Own Laws-Part 2 - "Gold Reserve Inc. (TSX:GRZ - News) (NYSE-Amex:GRZ) commented today on an Official Gazette issued by the Government of Venezuela dated May 26, 2009 in which the Venezuelan Ministry of Mines (MIBAM) denied the extension of the Brisas del Cuyuni alluvial gold concession which contains approximately 3% of the proven and probable gold reserves of the Brisas Project." More
- May 28, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 28 May, 2009 | |
