-- Posted 25 June, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $938.90 | +$5.15 |
Silver | $14.00 | +$0.11 |
XAU | 146.12 | +4.10% |
HUI | 359.80 | +4.95% |
GDM | 1099.83 | +4.48% |
JSE Gold | 2451.29 | +33.86 |
USD | 80.41 | -0.01 |
Euro | 139.91 | +0.62 |
Yen | 104.30 | -0.20 |
Oil | $70.23 | +$1.56 |
10-Year | 3.546% | -0.139 |
T-Bond | 118.00 | +1.4375 |
Dow | 8472.40 | +2.08% |
Nasdaq | 1829.54 | +2.08% |
S&P | 920.26 | +2.14% |
The Metals:
Gold and silver briefly saw slight losses in Asia and London, but they then both chopped their way back higher in New York and ended near their highs of $939.45 and $14.05 with gains of 0.55% and 0.79%.
Euro gold rose to about €670, platinum gained $25.50 to $1187.50, and copper gained another few cents to about $2.30.
Gold and silver equities steadily rose throughout trade and ended with over 4% gains.
China should buy gold to hedge U.S. dollar, official says FinancialPost
Chinese official urges buying of gold, U.S. land MarketWatch
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 6/20 | 627K | 600K | 612K |
GDP | Q1 | -5.5% | -5.7% | -5.7% |
Bernanke says he didn't pressure Bank of America Yahoo
Fed scales back emergency lending programs Yahoo
Tomorrow at 8:30AM EST brings Personal Income for May expected at 0.2%, Personal Spending expected at 0.4%, and PCE Core expected at 0.2%. At 9:55 is Michigan Sentiment for June expected at 69.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil climbed back above $70 on further supply disruptions in Nigeria after rebels attacked a pipeline owned by Shell.
The U.S. dollar index eventually turned lower and ended with a minor loss after the day’s events encouraged traders to put cash to work.
Treasuries rose after today’s 7-year auction capped off a very successful week of the government selling debt.
The Dow, Nasdaq, and S&P opened lower on the higher than expected rise in jobless claims, but all three indices soon turned markedly higher and ended with over 2% gains on renewed confidence over the economy after some decent earnings reports, the good debt auction, and Bernanke’s successful defense of his actions before Congress this morning.
Among the big names making news in the market today were BofA, Kimberly-Clark, Lennar, AIG, ConAgra, and Sprint.
The Commentary:
“August Gold closed up 5.1 at 939.5. This was 5.9 up from the low and 0.9 off the high.
July Silver finished up 0.095 at 14.005, 0.045 off the high and 0.135 up from the low.
The gold market spent most the trading session attempting to hold in positive ground. With the stock market managing a very impressive range up move on Thursday that seemed to improve the macro economic outlook, which in turn seemed to provide an indirect lift to gold and a host of physical commodities. Perhaps the gold market was even lifted by the news of a damaging attack on a Nigerian oil pipeline. In the end, the gold gains were not overly impressive on Thursday perhaps because the net move in the US Dollar wasn't that definitive.
The silver market also spent a large portion of the trade on Thursday in positive ground. Like gold, silver seemed to benefit from the impressive rally in the US equity market as that tamped down the fear of slowing that was present at the beginning of the week. With the markets also seeing another favorable US Treasury auction on Thursday, perhaps silver and other markets think that the US government and the Fed will be allowed to continue to swell the deficit in an attempt to revive the economy.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Michael Kosares: As gold's champion, China transforms market
Italian financial journal cites metals suppression again
China should hedge dollar with gold, party researcher says
More semi-surreptitious central bank market intervention
And some still try to deny that Fed helps rig gold market
The Statistics:
As of close of business: 6/25/2009
Gold Warehouse Stocks: | 119,232,596 | +1,902,590 |
Silver Warehouse Stocks: | 8,699,743 | -4,612 |
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$ 33,942m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 134.82 | 4,334,621 | US$ 4,068m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.72 | 440,376 | US$ 414m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 36.77 | 1,182,140 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: The LSE subtracted 0.78 tonnes.
COMEX Gold Trust (IAU)
Profile as of 6/24/2009 | |
Total Net Assets | $2,124,798,846 | Ounces of Gold in Trust | 2,275,302.120 |
Shares Outstanding | 23,150,000 | Tonnes of Gold in Trust | 70.77 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 6/24/2009 | |
Total Net Assets | $3,892,128,113 | 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:
A free new stock report on Bravo Venture Group by Peter Zihlmann, Seabridge’s (SA) plans to sell its stake in the Red Mountain property to BonTerra, Banro’s (BAA) closed financing, Midway’s (MDW) Mineral Resource estimate, Freeport’s (FCX) dividends, Sabina’s (SBB.V) drill results, and Silver Standard’s (SSRI) pre-feasibility study results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Jaguar | JAG +14.82 $7.98 |
2. Mines MGMT | MGN+12.39% $1.6184 |
3. Paramount | PZG +11.19% $1.49 |
LOSERS
1. Solitario | XPL -2.25% $1.955 |
2. Northern Dynasty | NAK -0.28% $7.14 |
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:
Vault Minerals announces AGM results and the Grant of Stock Options - More
- June 25, 2009 | Item | E-mail
Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Preferred Stocks - "Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) today declares the following quarterly cash dividends payable on August 1, 2009 to holders of record as of July 15, 2009: •$1.6875 per share of FCX’s 6ľ% Mandatory Convertible Preferred Stock (NYSE: FCXprM - News). •$13.75 per share of FCX’s 5˝% Convertible Perpetual Preferred Stock." More
- June 25, 2009 | Item | E-mail
Abcourt Closes a Non-Brokered Private Placement of $397,000 - More
- June 25, 2009 | Item | E-mail
Castillian Issuance of Shares for Debt - More
- June 25, 2009 | Item | E-mail
VMS Announces 2009 Exploration Plans for the Copper Project Area, Snow Lake, Manitoba - More
- June 25, 2009 | Item | E-mail
Kootenay Strengthens Board of Directors with Former Placer Dome Executive - More
- June 25, 2009 | Item | E-mail
Timing is everything for Canada's junior miners - "Junior miners in Canada need to watch the swings in commodity markets to best gauge the timing on forays into capital markets, where windows of opportunity are opening after a long drought, investment bankers say." More
- June 25, 2009 | Item | E-mail
Copper Fox Metals Inc. - Second Quarter Results Three and Six Months Ended April 30, 2009 - More
- June 25, 2009 | Item | E-mail
Odyssey Grants Stock Options, Appoints Investor Relations Manager - More
- June 25, 2009 | Item | E-mail
Temex acquires key claims adjacent to West Timmins Mining's property, Timmins Ontario - More
- June 25, 2009 | Item | E-mail
Northern Shield Completes VTEM over Faint Hope Gold property, northeastern Ontario - More
- June 25, 2009 | Item | E-mail
Tribute Announces Closing of Private Placement - More
- June 25, 2009 | Item | E-mail
Positive Preliminary Assessment for Tournigan's Kuriskova Uranium Deposit - More
- June 25, 2009 | Item | E-mail
Dia Bras Announces Board of Directors and Grant of Options - More
- June 25, 2009 | Item | E-mail
Network acquires mineral claims near Underworld's new gold discovery - More
- June 25, 2009 | Item | E-mail
Zaruma Resources reports on Shareholder Meeting and TSX Listing review - More
- June 25, 2009 | Item | E-mail
Nayarit Gold Intersects 16.15 Metres of 2.49 g/t Gold and 671 g/t Silver, or 13.67 g/t Gold Equivalent, or 820 g/t Silver Equivalent - More
- June 25, 2009 | Item | E-mail
Golden Harp advised of drill results on Block A option: more high grade intersected - 3.0 m of 21.41 gpt Au including 1.5 m of 40.2 gpt Au - More
- June 25, 2009 | Item | E-mail
Benton intersects more high grade gold on Block A property - More
- June 25, 2009 | Item | E-mail
USCorp Announces Results of Geochemical Report for Twin Peaks Property in Yavapai County, Arizona, U.S.A. - More
- June 25, 2009 | Item | E-mail
CanAlaska Uranium Ltd. - Summer Exploration to Commence at Poplar Uranium Project - More
- June 25, 2009 | Item | E-mail
First NI 43-101 Technical Resource Report Filed for DOT Resources - More
- June 25, 2009 | Item | E-mail
BonTerra Resources Inc.: Acquisition of Red Mountain Gold Deposit - More
- June 25, 2009 | Item | E-mail
Copper Mesa provides update to agreement with Nortec Ventures - More
- June 25, 2009 | Item | E-mail
Harte Gold Corp.: Summer Field Program to Begin at Sugar Zone Property Hemlo, Ontario - More
- June 25, 2009 | Item | E-mail
Golden Peaks Resources Ltd. - New Drill Targets discovered 1400m Along strike from T11 Deposit - More
- June 25, 2009 | Item | E-mail
HuntMountain Enters into Letter of Intent on Reverse Takeover Transaction - More
- June 25, 2009 | Item | E-mail
Bayswater Provides Review of Land Position and Significant Results From 2008 Exploration Program, Central Mineral Belt, Labrador - More
- June 25, 2009 | Item | E-mail
Geovic Cameroon Update - More
- June 25, 2009 | Item | E-mail
Sabina Silver Announces Initial Hackett River Drilling Results: High Grade Mineralization Encountered at JO Zone Including 457 g/t Silver and 26.2% Zinc - "Hackett River is one of the largest undeveloped silver - zinc volcanic massive sulphide ("VMS") deposits of its type in the world with indicated resources totalling 43 million tonnes grading 4.65% zinc, 144 g/t silver, 0.42% copper, 0.64% lead and 0.30 g/t gold and an additional inferred open resource totalling 14.6 million tonnes grading 4.46% zinc, 136 g/t silver, 0.31% copper, 0.57% lead and 0.31 g/t gold." More
- June 25, 2009 | Item | E-mail
Seabridge Gold to sell Red Mountain stake to BonTerra - "Canada's Seabridge Gold (SEA.TO) said it would sell its stake in the Red Mountain property in British Columbia to mineral explorer BonTerra Resources Inc (BTR.V) for C$7 million ($6.06 million) in cash, plus a C$5 million convertible debenture." More
- June 25, 2009 | Item | E-mail
Banro closes CDN$100,001,700 financing - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has closed the issuance and sale of 43,479,000 common shares of the Company at a price of CDN$2.30 per share for aggregate gross proceeds of CDN$100,001,700 (the "Offering")." More
- June 25, 2009 | Item | E-mail
Midway Gold Announces NI 43-101 Gold Resource at Golden Eagle Project - "Midway Gold Corp. (CDNX:MDW.V - News)(AMEX:MDW - News) ("Midway") is pleased to announce a Mineral Resource estimate for the Golden Eagle Project, Washington. Using a 0.020 ounce per ton (opt) gold cut-off, the Indicated resource is 31.9 million tons grading 0.055 opt gold, containing 1.769 million ounces of gold. There is an additional Inferred resource of 5.1 million tons grading 0.038 opt gold, containing 194,000 ounces of gold. This estimate is based on historic exploration primarily by Hecla Limited and Santa Fe Pacific Gold." More
- June 25, 2009 | Item | E-mail
Silver Standard Resources Inc.: Breccia Ridge Underground Pre-Feasibility Study and Pitarrilla Project Update - "Silver Standard Resources Inc. (TSX: SSO)(NASDAQ: SSRI) is pleased to report the results of a pre-feasibility study for the underground component of the Breccia Ridge Zone at its wholly-owned Pitarrilla Project in Durango State, Mexico. Based on the pre-feasibility study, the underground component of Breccia Ridge now contains probable silver reserves of 91.7 million ounces." More
- June 25, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 25 June, 2009 | |