-- Posted 9 June, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $953.45 | +$3.20 |
Silver | $15.13 | +$0.19 |
XAU | 151.13 | +0.03% |
HUI | 365.11 | -0.55% |
GDM | 1133.19 | -0.25% |
JSE Gold | 2551.62 | +51.80 |
USD | 79.82 | -0.94 |
Euro | 140.67 | +1.70 |
Yen | 102.65 | +1.13 |
Oil | $70.01 | +$1.92 |
10-Year | 3.858% | -0.031 |
T-Bond | 115.078125 | +0.203125 |
Dow | 8763.06 | -0.02% |
Nasdaq | 1860.13 | +0.96% |
S&P | 942.43 | +0.35% |
The Metals:
Gold and silver fell slightly in Asia and waffled near unchanged in London before they rose to see over 1% gains at $961.60 and $15.342 around 9AM EST in New York, but they then fell back off a bit into the close and gold ended with a gain of just 0.34% while silver ended with a nice gain of 1.27%.
Euro gold fell to about €680 on renewed euro strength, platinum gained $11 to $1249, and copper gained over 11 cents to about $2.36.
Gold and silver equities rose over 1% at the open before they quickly reversed to see slight losses about a half hour into trade, but they rallied back higher in afternoon trade and ended mixed and near unchanged on the day.
The Economy:
Report | For | Reading | Expected | Previous |
Wholesale Inventories | Apr | -1.4% | -1.2% | -1.8% |
House Committee Subpoenas Federal Reserve Over BofA-Merrill Bloomberg
U.S. Lets 10 Banks Repay $68 Billion of TARP Funds Bloomberg
US investigators warn bank stress tests not enough Yahoo
U.S. Third-Quarter Hiring Plans at Record Low, Manpower Says Bloomberg
Tomorrow at 8:30AM EST brings the Trade Balance for April expected at -$29.0 billion and at 2PM is the fed’s Beige Book and the Treasury Budget for May expected at -$181.0 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil closed above $70 for the first time since last November as the U.S. dollar index erased a good portion of its recent gains and fell back below 80 after traders began to doubt recent speculation over the possibility of any interest rate increases by the fed at any time in the near future. The potential for upcoming strength in European currencies also weighed on the dollar.
Treasuries found slight gains after a 3-year note auction drew decent demand. All eyes are now on tomorrow’s 10-year note auction and Thursday’s 30-year note auction.
The Dow, Nasdaq, and S&P traded mixed and near unchanged after it was announced that 10 lenders gained approval from the US Treasury to buy back $68 billion worth of government shares that also allows them to be freed up from additional oversight.
Among the big names making news in the market today were BlackRock, Chrysler, Apple, and Bank of America.
The Commentary:
“August Gold closed up 2.2 at 954.7. This was 2.2 up from the low and 9.8 off the high.
July Silver finished up 0.185 at 15.14, 0.205 off the high and 0.075 up from the low.
The gold market started out under some weak pressure but a noted rebound in a host of physical commodity prices and a resumption of selling in the Dollar seemed to give the bulls a noted lift. Perhaps the strength in crude oil prices and the very impressive rally in copper prices gave the bull camp in gold an added incentive. The gold market did seem to be somewhat deflated in the wake of the US announcement that up to 10 US banks would be allowed to pay back their TARP obligations. Apparently seeing the repayment of $68 billion in government funds served to downplay the flight to quality psychology in the gold market. However, the gold market was able to spend some time in positive ground and it seemed like periodic strength in the equity markets at times contributed to the upward tilt in gold prices.
The silver market also managed an impressive recovery attempt after seeing some initial weakness early in the trading session. Like gold, silver was temporarily undermined by the news of a repayment of TARP funds, but given the magnitude of the gains in silver, copper and tin prices on Tuesday one almost got the sense that classic physical commodity forces were providing the silver bulls with their fresh incentive.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
China would diversify amid dollar doubts, congressman says
Gene Arensberg: Commercial short position in gold resembles 2005's
The Statistics:
As of close of business: 6/09/2009
Gold Warehouse Stocks: | 8,700,713 | -1,074 |
Silver Warehouse Stocks: | 120,754,973 | -1,080 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,132.15 | 36,399,884 | US$ 34,349m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 136.77 | 4,397,375 | US$ 4,203m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.72 | 440,451 | US$ 422m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 34.58 | 1,111,660 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.62 tonnes.
COMEX Gold Trust (IAU)
Profile as of 6/8/2009 | |
Total Net Assets | $2,137,159,578 | 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 6/8/2009 | |
Total Net Assets | $4,105,323,613 | 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:
A free, new stock report on Kryso Resources and US Gold’s (UXG) AGM were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Solitario | XPL+13.33% $2.176 |
2. Entree | EGI +9.71% $1.13 |
3. Banro | BAA +9.09% $2.40 |
LOSERS
1. Tanzanian Royalty | TRE -3.21% $3.62 |
2. Agnico Eagle | AEM -2.26% $56.77 |
3. Fronteer | FRG -1.50% $3.94 |
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:
Castle Gold Intersects 42.7 Metres Grading 0.7 Grams Per Tonne Gold as Part of El Castillo Mine Resource Expansion Program - More
- June 09, 2009 | Item | E-mail
Uranerz Reports NI 43-101 Uranium Resources Update on Nichols Ranch - More
- June 09, 2009 | Item | E-mail
Golden Share Extends Warrants - More
- June 09, 2009 | Item | E-mail
Golden Peaks Resources Ltd. - Baseline report received - More
- June 09, 2009 | Item | E-mail
Solid Resources announces updates - More
- June 09, 2009 | Item | E-mail
High River Gold Provides Update on Improved Severstal Offer and Announces Private Placement - More
- June 09, 2009 | Item | E-mail
Mega Silver Inc. Announces Significant Inferred Resource Estimate on Blue Caribou Copper Deposit in Nunavut - More
- June 09, 2009 | Item | E-mail
Fitch: Limited Refinancing Risks for Latin American Metal and Mining Sector - "Latin American metal and mining companies are, relative to their global peers, better positioned to withstand the pressures of the global economic downturn, according to a Fitch Ratings report. Companies in this sector have higher EBITDA and funds from operations (FFO) margins, as well as healthier cash positions." More
- June 09, 2009 | Item | E-mail
Wesdome and Windarra announce closing of the Magnacon purchase and execution of the Pukaskwa exploration and option agreement - More
- June 09, 2009 | Item | E-mail
Minera IRL Limited: Placing and Ollachea Project Update Notice of General Meeting - More
- June 09, 2009 | Item | E-mail
US Canadian Minerals Inc. Upgrades C.O.D. Mine's Potential Reserves - More
- June 09, 2009 | Item | E-mail
Chariot Resources Announces Filing of Mina Justa Definitive Feasibility Study 43-101 Technical Report - More
- June 09, 2009 | Item | E-mail
Bison Gold Resources Inc. Announces Pricing of Private Placement and Amendment to Convertible Debenture - More
- June 09, 2009 | Item | E-mail
Golden Band Resources Issuing Stock Options - More
- June 09, 2009 | Item | E-mail
Carlisle Goldfields Limited & Delta Uranium Inc. cancel business transaction - More
- June 09, 2009 | Item | E-mail
Adventure Gold Discovers Significant Gold Zones by Drilling on Pascalis-Colombiere, East of Val d'Or: 9.9 g/t Au Over 2.4 Meters - More
- June 09, 2009 | Item | E-mail
Andean Resources Reports an Updated Resource at the Eureka Veins - More
- June 09, 2009 | Item | E-mail
Colt Resources Inc. reports significant Gold, Tungsten and Tin values from multiple zones of mineralization on its Portuguese properties - More
- June 09, 2009 | Item | E-mail
Hawthorne Engages O&M Partners LLC - More
- June 09, 2009 | Item | E-mail
Premier: Red Lake and PQ-North drill programs underway - More
- June 09, 2009 | Item | E-mail
Bear Lake Gold Announces New High-Grade Gold Intercepts From Its Bear Lake Gold Zone - More
- June 09, 2009 | Item | E-mail
Capstone Reports Significant Increase in Copper-Gold Mineral Resources at Minto Mine, Yukon - More
- June 09, 2009 | Item | E-mail
Another Acquisition by Excel Gold Mining Inc. of Mining Claims Property Located in the Montauban County Area, and Named 'Batiscan II' - More
- June 09, 2009 | Item | E-mail
General Metals Announces 5.2 Feet at 2.160 opt Gold (73.9 g/T) From High Grade Independence Gold Skarn Unpublished Core Drilling Results - More
- June 09, 2009 | Item | E-mail
Consolidated Thompson and WISCO Sign Definitive Agreement for US$240 Million Strategic Investment - More
- June 09, 2009 | Item | E-mail
Corriente Resources Inc.: Ecuador Signs Copper Development Deal With Codelco - More
- June 09, 2009 | Item | E-mail
Kinbauri Gold Corp. Strongly Recommends that Shareholders Reject Orvana's Offer - More
- June 09, 2009 | Item | E-mail
CanAsia Signs Agreement to Acquire Gold/Silver Property in Mexico - More
- June 09, 2009 | Item | E-mail
Uruguay Mineral Exploration Inc: Gold Production for 2009 Financial Year - More
- June 09, 2009 | Item | E-mail
Rob McEwen Invites Investors to US Gold's AGM in Toronto on June 11, 2009 - "US Gold has a lot to talk about this year! The Company's gold resources in Nevada's prolific Cortez Trend are growing in size and importance. El Gallo, a new high-grade silver discovery in Mexico, is near surface, close to mining infrastructure and rapidly expanding. In addition, the Company's recent financing has given it one of the strongest balance sheets in the exploration sector." More
- June 09, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 9 June, 2009 | |
