-- Posted 4 June, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $980.00 | +$15.15 |
Silver | $15.82 | +$0.45 |
XAU | 157.41 | +3.21% |
HUI | 387.02 | +3.29% |
GDM | 1192.65 | +2.82% |
JSE Gold | 2667.69 | -8.72 |
USD | 79.43 | -0.09 |
Euro | 141.83 | +0.25 |
Yen | 103.40 | -0.80 |
Oil | $68.81 | +$2.69 |
10-Year | 3.716% | +0.165 |
T-Bond | 115.890625 | -1.78125 |
Dow | 8750.24 | +0.86% |
Nasdaq | 1850.02 | +1.32% |
S&P | 942.46 | +1.15% |
The Metals:
Gold saw decent gains in Asia before it fell back off in London and dropped to see a $4 loss at $960.85 shortly after 8AM EST, but it then shot back higher throughout most of trade in New York and ended near its high of $981.25 with a gain of 1.57%. Silver dropped as much as $0.29 to $15.08 a little after 8AM EST before it also climbed back higher in New York trade and ended near its high of $15.857 with a gain of 2.93%.
Euro gold rose to about €691, platinum gained $39 to $1272, and copper gained 9 cents to about $2.30.
Gold and silver equities rose about 3% by late morning and remained near their highs into the close.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 5/30 | 621K | 620K | 625K |
Productivity | Q1 | 1.6% | 1.2% | 0.8% |
Unit Labor Costs | Q1 | 3.0% | 2.9% | 3.3% |
Tomorrow at 8:30A EST beings May’s jobs data and at 2PM is Consumer Credit for April expected at -$6.0 billion. Nonfarm Payrolls are expected at -520,000, the Unemployment Rate is expected at 9.2%, Hourly Earnings are expected at 0.1%, and the Average Workweek is expected at 33.2.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
The U.S. dollar index and treasuries fell while oil and the Dow, Nasdaq, and S&P rose as the bipolar market felt good about the economy today after another round of decent economic data and some retail sales reports that were not as bad as some feared.
Among the big names making news in the market today were Intel and Wind River Systems, Wal-Mart, and the airlines.
The Commentary:
“August Gold closed up 16.7 at 982.3. This was 18.3 up from the low and 1.1 off the high.
July Silver finished up 0.585 at 15.895, 0.005 off the high and 0.7 up from the low.
In addition to a reversal in the Dollar, the gold market also saw mostly favorable US economic data and a bullish bias in the equity markets and that in turn seemed to rekindle inflationary expectations in a number of markets. An explosion in crude oil prices in excess of $3.50 a barrel seemed to give off an inflation vibe again especially with the US equity market in a positive posture again.
Like the gold market, the silver market seemed to catch a full wave of broad based buying interest. Clearly some of the buying interest was the result of renewed growth hopes, but some of the gains were probably inspired by inflationary speculation. Given the reactions in a number of physical commodity markets on Thursday, one almost gets the impression that the trade almost forgot about the ultra important US Payroll readings on Friday morning. It would seem as if the silver bulls have become at least partly reliant on strength in equity prices and a positive macro economic outlook.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics:
As of close of business: 6/04/2009
Gold Warehouse Stocks: | 8,721,752 | -4,005 |
Silver Warehouse Stocks: | 119,875,304 | -1,003,931 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,132.50 | 36,411,083 | US$ 35,552m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 136.24 | 4,380,213 | US$ 4,291m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.72 | 440,475 | US$ 432m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 33.36 | 1,072,450 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 1.53 tonnes and the LSE added 0.34 tonnes.
COMEX Gold Trust (IAU)
Profile as of 6/3/2009 | |
Total Net Assets | $2,166,025,012 | Ounces of Gold
in Trust | 2,245,823.814 |
Shares Outstanding | 22,850,000 | Tonnes of Gold
in Trust | 69.85 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 6/3/2009 | |
Total Net Assets | $4,418,258,213 | Ounces of Silver
in Trust | 276,670,924.100 |
Shares Outstanding | 280,950,000 | Tonnes of Silver
in Trust | 8,605.43 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
The rising death toll of illegal miners from a fire at a disused Harmony (HMY) mine in South Africa and International Royalty’s (ROY) copper royalty were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Banro | BAA +15.38% $2.40 |
2. Fronteer | FRG+10.48%$4.154 |
3. Rubicon | RBY +9.43% $2.67 |
LOSERS
1. Entree | EGI -3.57% $1.08 |
2. Mines MGMT | MGN-2.12% $1.85 |
3. Eldorado | EGO -0.21% $9.52 |
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:
Ungava Mines Inc. - Litigation Update - More
- June 04, 2009 | Item | E-mail
Wildcat Announces $3 Million Private Placement - More
- June 04, 2009 | Item | E-mail
Inter-Rock Nevada Mineral Property Update - More
- June 04, 2009 | Item | E-mail
Golden Peaks Resources Ltd. - Flanking Structures to the G Zone Gold Deposit - More
- June 04, 2009 | Item | E-mail
Thompson MacDonald Appointed to the Board of Can-Cal Resources - More
- June 04, 2009 | Item | E-mail
Canadian Zinc Reports Positive Metallurgical Test Results for Prairie Creek Mine - More
- June 04, 2009 | Item | E-mail
Dia Bras Increases Non-Brokered Private Placement Unit Offering - More
- June 04, 2009 | Item | E-mail
Silverado Announces Smarter, Greener Communications Initiative and Invites Investors to Join Email Update List - More
- June 04, 2009 | Item | E-mail
HoneyBadger Exploration Shareholder Letter - More
- June 04, 2009 | Item | E-mail
Ventana Announces Additional La Mascota Drill Results - More
- June 04, 2009 | Item | E-mail
Golden Harp advised of exploration update from Benton Resources at Copper Hill Block A Property - More
- June 04, 2009 | Item | E-mail
SEMAFO is 100% Unhedged - More
- June 04, 2009 | Item | E-mail
Labrador Iron Mines appoints Vice President of Operations - More
- June 04, 2009 | Item | E-mail
Terra Ventures Inc.: Hathor's Midwest Northeast Drill Hole # 116 Intersects 2.5 Metres of 70% U3O8 with Assays up to 84% U3O8 - More
- June 04, 2009 | Item | E-mail
Lundin Mining Receives Extension of Credit Facility Waiver Period - More
- June 04, 2009 | Item | E-mail
Sunridge Gold Announces Positive Preliminary Economic Assessment for the Emba Derho Deposit - More
- June 04, 2009 | Item | E-mail
Inuit Communities Receive $6.8 Million in Profit-Sharing from Xstrata Nickel's Raglan Mine - More
- June 04, 2009 | Item | E-mail
Death toll now 76 in SAfrica gold mine tragedy - "The bodies of 15 more illegal miners were brought to the surface on Thursday, raising the death toll from a fire at a disused gold mine to at least 76, the mine's owners said." More
- June 04, 2009 | Item | E-mail
Nortec Ventures and Copper Mesa extend agreement - More
- June 04, 2009 | Item | E-mail
Three drill holes from 1965 correspond with 2009 Mag Anomalies at RJK Explorations' Dorion South Platinum/Palladium/Cu/Ni Property - More
- June 04, 2009 | Item | E-mail
Glen Eagle Resources Inc.: Update on Kinbauri Transaction - More
- June 04, 2009 | Item | E-mail
PFN Announces Geochemical Study and Re-assay Program, River Valley Platinum Group Metal (PGM) Project - More
- June 04, 2009 | Item | E-mail
Copper Mesa announces extension to Nortec Ventures agreement - More
- June 04, 2009 | Item | E-mail
Yellowjacket Completes Mill Modifications, Commences Bulk-Sample Production, Atlin, B.C. - More
- June 04, 2009 | Item | E-mail
Detour Gold Shareholders Approve Rights Plan - More
- June 04, 2009 | Item | E-mail
IBC Advanced Alloys Adds Ring Rolling Mill and Expands Product Line - More
- June 04, 2009 | Item | E-mail
Kinbauri Gold Corp.: Update on Glen Eagle Transaction - More
- June 04, 2009 | Item | E-mail
Patriot Gold Announces New Drilling Program at Moss Mine Project, Arizona - More
- June 04, 2009 | Item | E-mail
Pinnacle to Acquire up to an 80% Interest in the Silver Coin Gold Deposit near Stewart, B.C. - More
- June 04, 2009 | Item | E-mail
Atna Reports Additional Pinson Drill Results - More
- June 04, 2009 | Item | E-mail
U3O8 Corp. Identifies Athabasca-Style Alteration in the Roraima Basin - More
- June 04, 2009 | Item | E-mail
Hawthorne Commences Drilling at Cassiar Gold Mine; 2009 Exploration and Development Program Underway - More
- June 04, 2009 | Item | E-mail
Robert Pirooz Joins Ventana Board - More
- June 04, 2009 | Item | E-mail
Rusoro Mining Receives Exchange Approval for a Trust Agreement and Contribution Agreement - More
- June 04, 2009 | Item | E-mail
Nevada Gold Holdings Inc. / NGHI Provides Corporate Background - More
- June 04, 2009 | Item | E-mail
VVC Exploration Options Santa Cristina, a Gold Project in Durango State, Mexico - More
- June 04, 2009 | Item | E-mail
Strateco and Majescor Announce a Drilling Program on Mistassini - More
- June 04, 2009 | Item | E-mail
Colossus Minerals Drills 27.9 Metres @ 35.49 g/t Gold, 19.89 g/t Platinum and 25.14 g/t Palladium - More
- June 04, 2009 | Item | E-mail
Freewest Resources Completes $5.16 Million Private Placement to Cliffs Natural Resources Inc. - More
- June 04, 2009 | Item | E-mail
Duluth Metals Annual General Meeting to be held at the Toronto Board of Trade - More
- June 04, 2009 | Item | E-mail
International Royalty reports first copper production at Las Cruces - "International Royalty Corporation (NYSE-A: ROY, TSX: IRC) (the "Company" or "IRC") reports that Inmet Mining Corporation ("Inmet") has announced that the first copper cathodes have been produced at the Las Cruces project in Andalucia, Spain. IRC owns a 1.5% NSR royalty on the Las Cruces project. At the current spot copper price of approximately US$2.25/lb, the Las Cruces royalty is anticipated to generate approximately US$5.4 million in annual royalty revenues for IRC." More
- June 04, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 4 June, 2009 | |
