-- Posted 23 June, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $923.65 | +$3.10 |
Silver | $13.84 | +$0.10 |
XAU | 136.38 | +4.06% |
HUI | 331.75 | +4.24% |
GDM | 1022.46 | +4.07% |
JSE Gold | 2322.85 | -40.77 |
USD | 79.84 | -0.93 |
Euro | 140.79 | +2.22 |
Yen | 105.00 | +0.70 |
Oil | $68.84 | +$1.34 |
10-Year | 3.640% | -0.053 |
T-Bond | 116.00 | +0.328125 |
Dow | 8322.91 | -0.19% |
Nasdaq | 1764.92 | -0.07% |
S&P | 895.10 | +0.23% |
The Metals:
Gold fell nearly 1% to as low as $913.30 in Asia before it rose in London and saw slight gains in early New York trade ahead of a midmorning sell-off that brought it back to trade slightly lower around 11AM EST, but it then rallied back higher into the close and ended near its late session high of $926.25 with a gain of 0.34%. Silver followed a similar pattern and ended near its high of $13.882 with a gain of 0.73%.
Euro gold closed at about €656, platinum lost $4 to $1156.50, and copper gained over 6 cents to about $3.19.
Gold and silver equities rose over 2% at the open before they fell to see slight losses by midmorning, but they then rallied back higher for the rest of the day and ended with over 4% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Existing Home Sales | May | 4.77M | 4.82M | 4.66M |
Tomorrow at 8:30AM EST brings Durable Good Orders for May expected at -0.9%. Excluding transportation, orders are expected at -0.5%. At 10AM is the New Home Sales report for May expected at 360,000, and at 2:15 is the FOMC rate announcement.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose about 2% after some supply disruptions in Nigeria renewed worries over militant attacks in the area.
The U.S. dollar index plummeted back under 80 and treasuries rose after today’s auction of $40 billion of two year notes drew strong demand and made it less likely the fed will raise interest rates anytime soon.
The Dow, Nasdaq, and S&P remained mixed and near unchanged ahead of tomorrow’s fed announcement.
Among the big names making news in the market today were Kroger, Office Depot, Boeing, Rambus, Boston Scientific, and MySpace.
The Commentary:
“Dear Friends,
This is the third week of June so we should be on the threshold of the major gold move.
I have no doubt that the gold price is going to and through $1000 here on its way to $1224 and $1650. Following that it will move on to Alf’s numbers via its normal drama.
Gold is the inverse of the US dollar and has been manipulated lower via the paper market. Such action creates a coiled spring about to squeeze Jack out of the Box.
Financial TV’s new spin is that crude is the new gold.
What they have missed is that crude is your first example of how a currency has the potential of delivering hyperinflation as cost push with any meaningful demand pull.
Regards,”- Jim Sinclair, JSMineset.com
“August Gold closed up 3.3 at 924.3. This was 7.8 up from the low and 3 off the high.
July Silver finished up 0.14 at 13.845, 0.03 off the high and 0.22 up from the low.
The August gold contract managed another new low for the move before rejecting the weakness with a bid that regained the $925 level. It seemed like progressive weakness in the Dollar provided the gold market with a boost but perhaps a favorable US Treasury auction or anticipation of more quantitative easing from the US Federal Reserve on Wednesday afternoon provided the gold market with its recovery capacity. Other traders suggested that a recovery bounce in energy prices and the uncertainty of the Wednesday US scheduled report flow prompted a number of gold shorts to bank profits on the Tuesday slide.
The silver market managed the lowest trade since May 6th but the September silver contract was able to reject that downside thrust and rise back toward the even number zone of $14.00. Clearly a reversal in the Dollar, a recovery in oil prices and a slightly improved spin toward the US economic situation on Tuesday morning provided silver market with a lift but some traders suggested that buying in silver was at least partly the result of short side profit taking. Like gold, it is also possible that some silver shorts were simply unwilling to remain short into the very active US report slate on Wednesday morning, or perhaps the silver shorts weren't willing to hold those positions into the FOMC statement on Wednesday afternoon.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Warren Bevan: China and IMF gold sales -- the real story
Ted Butler: Straight talk on manipulation
Gene Arensberg: Gold, silver coin premiums back to normal
What recession? Goldman Sachs expects record bonuses
Liam Halligan: End the grotesque bailouts and face reality
'Adjustments' needed in dollar's value, IMF economist says
Gary North: Pushing on a string
Edmund Conway: Is this the death of the dollar?
The Statistics:
As of close of business: 6/23/2009
Gold Warehouse Stocks: | 8,704,355 | -41,609 |
Silver Warehouse Stocks: | 117,329,012 | -999,555 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchage (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,131.24 | 36,370,426 | US$ 33,425m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 135.60 | 4,359,718 | US$ 4,036m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.72 | 440,385 | US$ 408m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 36.77 | 1,182,170 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from Friday’s data: SPDR subtracted 0.91 tonnes, the LSE subtracted 0.18 tonnes, and the JSE added 0.85 tonnes.
COMEX Gold Trust (IAU)
Profile as of 6/22/2009 | |
Total Net Assets | $2,066,990,224 | 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 Friday’s data.
Silver Trust (SLV)
Profile as of 6/22/2009 | |
Total Net Assets | $3,878,208,600 | 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 Friday’s data.
The Miners:
Gold Fields’ (GFI) resumed production, Kirkland’s (KGI.TO) drill results, MAG’s (MVG) response to Fresnillo’s decision to withdraw its bid, Arian’s (AGQ.V) Board change and Preliminary Economic Assessment release, and Metalline’s (MMG) cyanide leach results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Golden Star | GSS+8.13% $1.73 |
2. Northgate | NXG+7.98% $2.03 |
3. Vista | VGZ+7.84% $1.65 |
LOSERS
1. Fronteer | FRG -3.71% $3.37 |
2. Banro | BAA -2.70% $1.80 |
3. Mines MGMT | MGN-2.05% $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:
Cameco Provides Dates for Q2 Results and Conference Call - More
- June 23, 2009 | Item | E-mail
Denison Closes CDN $94.9 Million Equity Financing With KEPCO and Other Subscribers - More
- June 23, 2009 | Item | E-mail
Odyssey Completes Non-Brokered Private Placement Raising C$1,200,000 - More
- June 23, 2009 | Item | E-mail
Underworld Intersects 3.2 g/t Au over 44.5 meters at White Gold Property - More
- June 23, 2009 | Item | E-mail
Glen Eagle Receives Funding Confirmation of US$110 Million - More
- June 23, 2009 | Item | E-mail
VVC Exploration Drilling Santa Cristina Gold Prospect in Mexico - More
- June 23, 2009 | Item | E-mail
Yorbeau Announces Rights Offering - More
- June 23, 2009 | Item | E-mail
Conway Resources Inc.: Update on Belleterre Mine Property Acquisition - More
- June 23, 2009 | Item | E-mail
Crocodile Gold Announces Closing of Acquisition of Australian Gold Assets - More
- June 23, 2009 | Item | E-mail
Golden Band Resources - Summer Exploration Program Underway - More
- June 23, 2009 | Item | E-mail
Trevali Receives Tailings Operation Permit for Santander Silver-Lead-Zinc Project in Peru - More
- June 23, 2009 | Item | E-mail
Hinterland Options 1661ha Ballarat Property in White River Gold Play, Yukon - More
- June 23, 2009 | Item | E-mail
Everton and Linear Gold Discover a new Mineralized Zone at La Lechoza West on the Ampliacion Pueblo Viejo Concession, Dominican Republic - More
- June 23, 2009 | Item | E-mail
Canadian Arrow announces proposed debt settlement - More
- June 23, 2009 | Item | E-mail
Royal Roads announces Titan 24 drill program; delays Clementine West - More
- June 23, 2009 | Item | E-mail
Canadian Shield And Kinross Sign Letter of Intent to Form Alliance for Exploration In Peru - More
- June 23, 2009 | Item | E-mail
Lydian Commences 14000m Drilling Program to Extend Current 1MOz Gold Resource and Reveal the Size Potential of Its Amulsar Gold Discovery in Armenia - More
- June 23, 2009 | Item | E-mail
Blue Note Files Plan of Arrangement - More
- June 23, 2009 | Item | E-mail
New Dawn Continues Gold Exploration Efforts in Zimbabwe - More
- June 23, 2009 | Item | E-mail
Wesdome Gold Mines Ltd. - Drilling resumes at Dubuisson Discovery - More
- June 23, 2009 | Item | E-mail
Probe Mines to Commence Drilling on McFauld's Lake Properties - More
- June 23, 2009 | Item | E-mail
Energy Fuels and Magnum Uranium Announce Shareholder Approval of Plan of Arrangement - More
- June 23, 2009 | Item | E-mail
Northland Resources Inc.: External Study on Promising Project Expected Within Three Months - More
- June 23, 2009 | Item | E-mail
PBX Files Revised 43-101 Technical Report on its Copaquire Molybdenum-Rhenium-Copper Property - More
- June 23, 2009 | Item | E-mail
MAG Silver Responds to Fresnillo Decision to Withdraw "Take-Under" Bid - "In today's announcement Fresnillo suggested that its decision to not proceed with its "take-under" bid was motivated by uncertainty as to when or if the independent valuation of MAG's shares would be completed. In MAG's view, Fresnillo's decision to withdraw was motivated by much different considerations that Fresnillo has not been prepared to publicly acknowledge." More
- June 23, 2009 | Item | E-mail
Driefontein Gold Mine to Resume Production - "Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) confirms that its Driefontein Gold Mine is expected to resume full production with the start of the afternoon shift today. This follows the conclusion of the initial onsite investigation by mine management and the Safety Inspectorate of the Department of Minerals and Resources." More
- June 23, 2009 | Item | E-mail
Arian Silver Reports on Annual General Meeting of Shareholders; Change to the Board of Directors - "David Cather graduated from the Royal School of Mines, Imperial College, London in 1981 as a mining engineer. He is a Chartered Engineer with extensive experience gained in the development and management of a wide range of resource projects in executive roles, principally with Anglo American/De Beers. David was formerly Technical Director of Anglo American's Industrial Minerals Division which included responsibilities for Tarmac (construction materials in 13 countries) and fertiliser operations in the UK (Cleveland Potash) and Brazil (Copebras). He is a Member of IoM3, FIQ, a "Qualified Person" as defined in the AIM guidelines of the London Stock Exchange and a "Qualified Person" as such term is defined in Canadian National Instrument 43-101." More
- June 23, 2009 | Item | E-mail
Initial Silver Cyanide Leach Results Positive at Sierra Mojada - "Twenty three composite samples representing one hundred twenty four sample intervals from drill core into the deposit area were selected for triplicate head grade analyses prior to cyanide leach analyses at a commercial laboratory. These samples were selected to test the western, central, and eastern portions of the Northside silver zone, and two distinct and unique mineralogical zones that form part of the Northside silver zone: the Silver Sulfide area to the east and an area on the west, termed the "Lead Manto composites" that mixed some samples from the upper Northside with some from the upper Southside zones." More
- June 23, 2009 | Item | E-mail
Fronteer Reports 87.5% Uranium Recovery From Aurora's Pilot Plant Testing - More
- June 23, 2009 | Item | E-mail
Kirkland Lake Gold Inc.: Drill Hole 53-1279 Returns 23.75 Ounces of Gold Per Ton Over 14.0 Feet; Other Exploration Results - "Kirkland Lake Gold Inc. (the Company) (TSX:KGI - News; AIM:KGI) is pleased to announce an update on exploration drilling testing part of the South Mine Complex (SMC). The SMC consists of 15 or more mineralized zones, some of which are actively being explored and developed while others are now in production." More
- June 23, 2009 | Item | E-mail
Arian Silver Releases Independent Preliminary Economic Assessment Report; Mining of More Than 2 Million Ounces of Silver Proposed - "Arian Silver Corporation (TSX VENTURE:AGQ - News; AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A - News; "Arian" or the "Company") is pleased to announce the results of a Preliminary Economic Assessment ("PEA") for its San Jose Project in Zacatecas State, Mexico. The PEA, undertaken by A.C.A. Howe International Limited ("Howe"), reviewed the economics of entering into contract mining and toll milling on three silver blocks with lead and zinc credits that were previously reported in the technical report referred to below." More
- June 23, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 23 June, 2009 | |
