-- Posted 17 July, 2009 | | Discuss This Article - Comments:
Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $937.85 | +$2.60 | +2.77% |
Silver | $13.38 | +$0.17 | +5.94% |
XAU | 144.36 | +1.50% | +11.05% |
HUI | 348.00 | +1.04% | +10.87% |
GDM | 1066.22 | +0.91% | +10.06% |
JSE Gold | 2328.46 | -1.68 | +3.35% |
USD | 79.51 | +0.25 | -0.91% |
Euro | 141.02 | -0.46 | +1.09% |
Yen | 105.97 | -0.55 | -2.07% |
Oil | $63.56 | +$1.54 | +6.13% |
10-Year | 3.651% | +0.094 | +10.80% |
Bond | 116.265625 | -0.953125 | -3.69% |
Dow | 8743.94 | +0.37% | +7.33% |
Nasdaq | 1886.61 | +0.08% | +7.44% |
S&P | 940.38 | -0.04% | +6.97% |
The Metals:
Gold saw slight gains in Asia before it fell back off in London to see as much as a $3.50 loss at $931.75 by about 8:30AM EST, but it then exploded back higher midmorning and ended near its high of $939.20 with a gain of 0.28%. Silver followed a similar pattern and sprung from a low of $13.068 to end near its high of $13.45 with a gain of 1.29%.
Euro gold rose to about €664, platinum gained $7.50 to $1168.50, and copper gained a few cents to about $2.41.
Gold and silver equities started off the day mixed, but they then rose for most of the afternoon and ended with about 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Building Permits | June | 563K | 524K | 618K |
Housing Starts | June | 582K | 530K | 562K |
All of this week’s economic reports:
Next week’s economic highlights include Leading Economic Indicators on Monday, Initial Jobless Claims and Existing Home Sale on Thursday, and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil continued to rise on optimism over signs of faster economic growth coming out of China.
Treasuries fell after housing data came out better than expected.
The U.S. dollar index found slight gains while the Dow, Nasdaq, and S&P traded near unchanged on mixed earnings reports.
Among the big names making news in the market Friday were CIT, GE, Citigroup, Bank of America, Johnson Controls, Mattel, Continental, and Google.
The Commentary:
“August Gold closed up 2.1 at 937.5. This was 5.8 up from the low and 2.3 off the high.
September Silver finished up 0.168 at 13.403, 0.067 off the high and 0.333 up from the low.
The bull camp will praise the gold markets capacity to hold up around this week's highs for most of the session today. The bear camp will suggest that the bull camp should have made more hay out of the scheduled data flow and the corporate earnings news. However, while the scheduled data flow as much better than expected, the corporate earnings news did have some troubling components. It was also clear that a stronger Dollar and weaker equity prices took some of the positive macro economic psychology out of the trade on Friday morning. The bulls might suggest that renewed terrorism threats could support gold, but the bear camp will quickly suggest that terrorism news on Friday morning supported the Dollar and that in turn crimped the action in the gold market.
The silver market was clearly lifted by an improved macro economic outlook in the wake of the US Housing starts and permits data. It is also likely that a firm bid in the energy complex allowed silver and copper prices some added bullishness. Like the gold market, it is possible that silver was at least partially restrained by the combination of a higher Dollar and weaker US equity prices.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Paul Craig Roberts: What economy? There's nothing left
Eric Janszen: Catching a gold basher
Gartman gets GATA's name right, but not other things
Your every purchase at Amsterdam Gold will support GATA
The Statistics:
Activity from: 7/15/2009
Gold Warehouse Stocks: | 8,899,703 | +7,501 |
Silver Warehouse Stocks: | 118,085,056 | -472,948 |
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 | 1,094.85 | 35,200,476 | US$ 32,906m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 133.72 | 4,299,308 | US$ 4,031m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.73 | 440,272 | US$ 414m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 40.54 | 1,303,540 | US$ 1m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 0.31 tonnes and the LSE added 0.40 tonnes.
COMEX Gold Trust (IAU)
Profile as of 7/16/2009 | |
Total Net Assets | $2,144,942,339 | Ounces of Gold
in Trust | 2,294,206.965 |
Shares Outstanding | 23,350,000 | Tonnes of Gold
in Trust | 71.36 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 7/16/2009 | |
Total Net Assets | $3,722,609,036 | Ounces of Silver
in Trust | 281,863,452.300 |
Shares Outstanding | 286,350,000 | Tonnes of Silver
in Trust | 8,766.93 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
New Gold’s (NGD) second quarter production, Randgold’s (GOLD) new gold mine, Nevsun’s (NSU) closed debt facilities, and US Silver’s (USA.V) first half production were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Nevsun | NSU+11.76% $1.71 |
2. Ivanhoe | IVN +5.44% $8.14 |
3. Rubicon | RBY +3.93% $2.91 |
LOSERS
1. Banro | BAA -7.51% $1.97 |
2. Mines MGMT | MGN-4.22% $1.59 |
3. NovaGold | ND -3.33% $4.06 |
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:
Vior Inc: $100,000 Debenture From Fonds de Solidarite FTQ - More
- July 17, 2009 | Item | E-mail
EURO Ressources : DELISTING OF ORDINARY SHARES FROM THE TORONTO STOCK EXCHANGE - More
- July 17, 2009 | Item | E-mail
Golden Eagle Forecloses on Mechanic's and Mill Operator's Liens in Claim Against Yukon-Nevada, Queenstake USA and Queenstake Canada for $40 Million Lost Profit - More
- July 17, 2009 | Item | E-mail
Drilling Underway at Eau Claire Gold Deposit - Exploration Work Begins at Radisson - More
- July 17, 2009 | Item | E-mail
Uranium Resources, Inc. Enters Into Definitive Agreement to Acquire New Mexico Properties Estimated to Hold 35 Million pounds of Uranium - More
- July 17, 2009 | Item | E-mail
Tiomin Announces Freegold Defaults on Loan - More
- July 17, 2009 | Item | E-mail
Quest Uranium Announces Final Closing of $600,000 Private Placement - More
- July 17, 2009 | Item | E-mail
Dumont sells Utah properties for cash plus royalty - More
- July 17, 2009 | Item | E-mail
Arian Silver Corporation: Grant of Options to Directors and Officers and Amendment to Stock Option Plan - More
- July 17, 2009 | Item | E-mail
Tara Minerals Acquires Gold/Silver Property - More
- July 17, 2009 | Item | E-mail
Virgin Metals Inc. - A Letter to Shareholders - More
- July 17, 2009 | Item | E-mail
New Gold Announces 2009 Second Quarter Production and Cash Cost Results - "New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) today announces 2009 second quarter combined gold sales of 68,627 ounces at a total cash cost(1) of $499 per ounce, net of by-product sales. The production and total cash cost(1) information provided are approximate figures and may differ slightly from the second quarter earnings and include results for the period prior to the close of the business combination with Western Goldfields Inc. ("Western Goldfields") on June 1, 2009." More
- July 17, 2009 | Item | E-mail
Advanced Explorations Inc. Obtains $420,000 Financing Commitment - More
- July 17, 2009 | Item | E-mail
Capella Receives Funds From Exercise of Warrants - More
- July 17, 2009 | Item | E-mail
Canadian Zinc Corporation: Minister Strahl Visits Prairie Creek Mine Site - More
- July 17, 2009 | Item | E-mail
Pinnacle Appoints New President and CEO - More
- July 17, 2009 | Item | E-mail
U.S. Silver Annouces First Half Production, Costs & Repairs - "U.S. Silver Corporation (USA-TSXV “USA” and Pink Sheets-“CYLPF”) (“U.S. Silver” or the “Company”) is pleased to announce that the Galena Mine produced 1,218,244 ounces of silver in the first half of 2009 (“1H 2009”) at a cash cost of $10.95 per ounce produced. The Company produced 72% more silver ounces in 1H 2009 than in the first half of 2008 (“1H 2008”) (1,218,244 vs. 708,175). When comparing 6-month periods, the cash cost per ounce produced decreased 23% from $14.29 in 2008 to $10.95 in 2009." More
- July 17, 2009 | Item | E-mail
IMA, Kobex and International Barytex propose merger - More
- July 17, 2009 | Item | E-mail
Jerritt Canyon targets 20th July to be operationally ready for start-up - More
- July 17, 2009 | Item | E-mail
Beartooth Platinum and Kria Resources Close Business Combination - More
- July 17, 2009 | Item | E-mail
USCorp Releases Open Letter to Shareholders and the Public - More
- July 17, 2009 | Item | E-mail
Randgold Resources International Conference Call Re Proposed Business Combination With Moto Goldmines - "Randgold Resources CEO Mark Bristow will be hosting an open conference call which is available to all, including Moto and Randgold shareholders, analysts and the press, to answer questions on the proposed business combination with Moto Goldmines announced yesterday." More
- July 17, 2009 | Item | E-mail
Randgold - Perseverance delivers new gold mine - "Development of Randgold Resources' new gold mine at Tongon in the Cote d'Ivoire is on track for first production in the fourth quarter of 2010, chief executive Mark Bristow said today." More
- July 17, 2009 | Item | E-mail
Minera IRL Limited: Resignation of Director - More
- July 17, 2009 | Item | E-mail
Intrepid Mines Limited Releases Activities Report for Second Quarter - More
- July 17, 2009 | Item | E-mail
EXMIN and Dia Bras Sign Letter of Agreement to Merge - More
- July 17, 2009 | Item | E-mail
Kilo Strengthens Management Ahead of Accelerating Exploration - More
- July 17, 2009 | Item | E-mail
Horsehead Corporation Announces Plans to Increase Zinc Production - More
- July 17, 2009 | Item | E-mail
Nevsun Resources Ltd.: Bisha Project Financial Close - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is very pleased to announce the financial closing of debt facilities totaling $235 million for its Bisha gold-silver-copper-zinc Project in Eritrea (the "Project"). All amounts are expressed in United States dollars." More
- July 17, 2009 | Item | E-mail
Explor Resources Inc.: Progress Report Eastford Lake LYNX Gold Zone - More
- July 17, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 17 July, 2009 | | Discuss This Article - Comments:
