-- Posted 18 June, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $933.55 | -$1.85 |
Silver | $14.20 | -$0.08 |
XAU | 137.54 | -1.60% |
HUI | 328.84 | -2.56% |
GDM | 1021.19 | -3.07% |
JSE Gold | 2440.38 | +54.70 |
USD | 80.59 | +0.36 |
Euro | 138.87 | -0.64 |
Yen | 103.55 | -0.85 |
Oil | $71.37 | +$0.34 |
10-Year | 3.834% | +0.187 |
T-Bond | 115.671875 | -2.109375 |
Dow | 8555.60 | +0.69% |
Nasdaq | 1807.72 | -0.02% |
S&P | 918.37 | +0.84% |
The Metals:
Gold rose slightly in Asia and fell to see a modest loss in London before it rose to see a $5.75 gain at as high as $941.15 in midmorning New York trade, but it then dropped back off into the close and ended near its session low of $931.70 with a loss of 0.2%. Silver saw nearly 1% gains in Asia, but it then slowly fell back off for most of the rest of trade and ended near its low of $14.13 with a loss of 0.56%.
Euro gold fell to about €669, platinum remained at $1200.50, and copper rose slightly to about $2.27.
Gold and silver equities fell over 1% at the open before they rallied back to see slight gains a little after a half hour into trade, but they then fell back off for most of the rest of the day and ended with about 2% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 6/13 | 608K | 604K | 605K |
Leading Indicators | May | 1.2% | 1.0% | 1.1% |
Philadelphia Fed | June | -2.2 | -17.0 | -22.6 |
Geithner defends plan to step up oversight Yahoo
US debt rating maintained at highest level by S&P Yahoo
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose on hopes that signs of an improving economy will help increase energy demand.
The U.S. dollar index found slight gains on decent economic data that raised the possibility that the fed may raise interest rates sooner than previously thought. All ears will be on the fed’s announcement next Wednesday to try and determine what their future actions may be.
Treasuries fell markedly after the government announced it will attempt to sell a record high $104 billion worth of bonds in three auctions next week. Supply concerns drove rates up as many fear the Treasury will need to offer higher yields in order to entice buyers.
The Dow, Nasdaq, and S&P mostly rose on better then expected economic data and reassuring words from Treasury Secretary Geithner.
Among the big names making news in the market today were Winnebago, J.M. Smucker, and Discover.
The Commentary:
“August Gold closed down 1.4 at 934.6. This was 2.5 up from the low and 7.8 off the high.
July Silver finished down 0.04 at 14.24, 0.07 off the high and 0.11 up from the low.
The gold market traded on both sides of unchanged today but stayed weaker for most of the afternoon. A better than expected unemployment report did little to support the market today, which is contrary to recent trends, when strong economic data has lent support to equities and precious metals. The equities rallied today, but so did the dollar, and this kept a limit on gold. More talk of potential strike action in South Africa also failed to provide a lift to the market.
Like gold, silver failed to gain much on the favorable economic data today, instead turning in a lackluster, sideways day that ended up slightly weaker. July silver rallied up to Tuesday's high early in the session but failed to follow through on the upside. The dollar had a strong day, which appeared to hold a lid on silver. The market has traded sideways since its sharp break on Monday.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Mark Lundeen: Manipulation of gold and silver on the Comex
The Statistics:
As of close of business: 6/18/2009
Gold Warehouse Stocks: | 8,737,566 | - |
Silver Warehouse Stocks: | 119,313,877 | +458,199 |
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 | 1,132.15 | 36,399,884 | US$ 33,863m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 135.79 | 4,365,644 | US$ 4,074m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.72 | 440,409 | US$ 412m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 35.92 | 1,154,750 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 6/17/2009 | |
Total Net Assets | $2,100,343,482 | 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 6/17/2009 | |
Total Net Assets | $3,931,777,997 | Ounces of Silver
in Trust | 280,510,676.900 |
Shares Outstanding | 284,850,000 | Tonnes of Silver
in Trust | 8,724.86 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
IAMGOLD’s (IAG) production guidance, Revett’s (RVM.TO) new director, Great panther’s (GPR.TO) new sales contracts, and Silver Standard’s (SSRI) updated resource estimate were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Fronteer | FRG +7. 32% $3.52 |
2. Northern Dynasty | NAK +3.55% $7.30 |
3. MAG | MVG +2.75% $4.85 |
LOSERS
1. Vista | VGZ -17.62% $1.59 |
2. Nevsun | NSU -10.32% $1.13 |
3. Tanzanian Royalty | TRE -9.62% $2.94 |
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:
Osisko Comments on Trading of Common Shares - More
- June 18, 2009 | Item | E-mail
SIRIOS: Offering Memorandum Placement Totals $616,000 - More
- June 18, 2009 | Item | E-mail
Treasury Metals Announces Increase in Size of Goliath Gold Project and Warrant Repricing - More
- June 18, 2009 | Item | E-mail
Canadian Shield Announces Private Placement Financing - More
- June 18, 2009 | Item | E-mail
UC Hub Group Signs Escrow Agreement With TSHL on Mining Properties - More
- June 18, 2009 | Item | E-mail
Castle Gold Provides Update on Strategic Alternative Review Process - More
- June 18, 2009 | Item | E-mail
New Guinea Gold Corporation: Further Excellent Drill Results From Weioko With High of 1.8m at 51.5g/t Gold and 140 g/t Silver - More
- June 18, 2009 | Item | E-mail
Revett Elects Tony Alford as New Director at Recently Concluded AGM - "Revett Minerals Inc. (TSX:RVM/OTCBB:RVMIF) ("Revett" or the "Company") is pleased to announce that at its annual and special meeting of the shareholders held on June 16, 2009, shareholders of the company approved all resolutions put before them by management." More
- June 18, 2009 | Item | E-mail
Great Panther Signs New Sales Contracts for Topia Concentrates - "GREAT PANTHER RESOURCES LIMITED (TSX: GPR) (the "Company") is pleased to announce it has signed contracts with Louis Dreyfus Commodities Metals Suisse SA (LDC), part of one of the world's largest commodities trading companies, for the sale of lead and zinc concentrates from the Company's wholly owned Topia silver-lead-zinc mine in Durango State, Mexico." More
- June 18, 2009 | Item | E-mail
SNS Silver (SNS) and Premium Exploration (PEM) Update - More
- June 18, 2009 | Item | E-mail
Strike over wages in S.Africa gold sector looms - "The head of South Africa's biggest mineworkers union said on Thursday its members were prepared to down tools in a bid to win a wage raise, but hoped for a deal to avert a strike." More
- June 18, 2009 | Item | E-mail
Azteca Gold Corp.: Two Mile Project and Financing Update - More
- June 18, 2009 | Item | E-mail
Dia Bras Announces Closing of the Last Tranche of CA$558,280 Million Non-Brokered Financing - More
- June 18, 2009 | Item | E-mail
Colt Amends terms of Non-Brokered Private Placement - More
- June 18, 2009 | Item | E-mail
First Metals Inc. Announces Court Approval of Proposal - More
- June 18, 2009 | Item | E-mail
Manicouagan Minerals Commences Airborne Geophysical Survey on Pickle Lake Gold Properties - More
- June 18, 2009 | Item | E-mail
Geoinformatics Clarifies Back-In Rights on Whistler Project, Alaska - More
- June 18, 2009 | Item | E-mail
AXMIN Inc.: 30% Increase in Measured and Indicated Resource at Main Zone, Passendro Gold Project, Central African Republic - More
- June 18, 2009 | Item | E-mail
Hudbay Expects to Close Flin Flon Copper Smelter by July 2010 - More
- June 18, 2009 | Item | E-mail
Alamos Gold Inc.: High-Grade Discovery Within a New Mineralized Zone - More
- June 18, 2009 | Item | E-mail
Impala Mineral Exploration Completes Due Diligence on Busolwa Gold Project Which Currently Has Small-Scale Gold Mining Operation on the Property - More
- June 18, 2009 | Item | E-mail
Glen Eagle Resources Inc.: Nomination to the Board of Directors - More
- June 18, 2009 | Item | E-mail
Sutter Gold Mining grants stock options - More
- June 18, 2009 | Item | E-mail
Golden Harp advised of drill results - Benton hits high grade gold at Copper Hill A property - More
- June 18, 2009 | Item | E-mail
Uracan launches summer drilling program and extensive field work on its 100% owned North Shore properties - More
- June 18, 2009 | Item | E-mail
Benton hits high grade gold on optioned property from Golden Harp - More
- June 18, 2009 | Item | E-mail
Delta Uranium Confirms the Termination of Business Combination and Commences Legal Action Against Carlisle Goldfields - More
- June 18, 2009 | Item | E-mail
Copper Fox provides update on its $6,000,000 Private Placement - More
- June 18, 2009 | Item | E-mail
Pure Nickel Reports Results for the Six Months Ended May 31, 2009 - More
- June 18, 2009 | Item | E-mail
Chalice Diamond Corp: Optionee, Strike Minerals Inc., Intersects 298.43 g/t Au Over 0.46m on Adjacent Claims - More
- June 18, 2009 | Item | E-mail
Aurelio Announces Private Placement Financing & Re-Pricing of Stock Purchase Warrants - More
- June 18, 2009 | Item | E-mail
Mega Uranium, Japan Australia Uranium Resources Development Co. Ltd. and ITOCHU Corporation Formalize Agreements for the Sale of 35% of the Lake Maitland Res. - More
- June 18, 2009 | Item | E-mail
Uruguay Mineral Exploration Inc: Resignation of Chairman, Tony Shearer - More
- June 18, 2009 | Item | E-mail
African Copper Plc: Resignation of Director - More
- June 18, 2009 | Item | E-mail
IAMGOLD Announces Increased Production Guidance for 2009 - "We have had an excellent start to 2009 with outstanding productivity improvements at several mines and an extension of the Doyon mine life. We're extremely pleased to announce this improved production guidance with lower cash costs," commented President & Chief Executive Officer Joseph Conway. "We will continue to pursue opportunities to optimize our operations and development projects for the remainder of 2009. We have already announced investments to improve cash flows from Niobec, our niobium mine in Quebec and we are working to achieve significant improvements at our joint venture mines in West Africa." More
- June 18, 2009 | Item | E-mail
Silver Standard Resources Inc.: Updated Resource Estimate for Diablillos Silver-Gold Project - "Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI) reports an updated resource estimate for the wholly-owned Diablillos Project located in the Province of Salta in northern Argentina. The Project is 275 kilometers (171 miles) south of Silver Standard's Pirquitas Mine in the Province of Jujuy. The resource estimate follows recent diamond drilling completed by Silver Standard which was successful in converting a significant portion of the previously reported inferred resources into the indicated category." More
- June 18, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 18 June, 2009 | |
