-- Posted 19 August, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $942.80 | +$5.30 |
Silver | $13.87 | -$0.06 |
XAU | 142.88 | +1.18% |
HUI | 348.20 | +0.91% |
GDM | 1052.83 | +0.88% |
JSE Gold | 2328.29 | -6.19 |
USD | 78.52 | -0.47 |
Euro | 142.26 | +0.89 |
Yen | 106.28 | +0.69 |
Oil | $72.42 | +$3.23 |
10-Year | 3.463% | -0.063 |
T-Bond | 119.859375 | +0.578125 |
Dow | 9279.16 | +0.66% |
Nasdaq | 1969.24 | +0.68% |
S&P | 996.46 | +0.69% |
The Metals:
Gold fell as much as $5.55 to $931.95 in Asia and remained slightly lower in London, but it then spiked higher in midmorning New York trade and ended near its high of $944.90 with a gain of 0.57%. Silver gained 12 cents to $14.05 in Asia before it fell as much as 44 cents to $13.49 by about 8:30AM EST in New York and then rallied back higher for most of the rest of trade, but it still ended with a loss of 0.43%.
Euro gold fell to about €661, platinum gained $11 to $1235, and copper remained at about $2.76.
Gold and silver equities opened up over 2% lower before they climbed back higher to see over 1.5% gains midday and then fell back off a bit in late trade, but they still ended with about 1% gains.
The Economy:
Buffett Says Federal Debt Poses Risks to Economy Bloomberg
U.S. MBA Mortgage Applications Index Rose 5.6 Percent Last Week Bloomberg
There were no major economic reports today. Tomorrow at 8:30AM EST brings Initial Jobless Claims for 8/15 expected at 553,000 and at 10AM is the Leading Indicators report for July expected at 0.6% and the Philadelphia fed survey for August expected at -2.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil opened lower on demand worries stemming from worldwide market weakness overnight, but a huge surprise drop in inventories raised supply concerns and sent oil back over $72 a barrel by the end of the day. Crude inventories fell 8.4 million barrels, gasoline inventories fell 2.1 million barrels, and distillates fell 700,000 barrels.
The Dow, Nasdaq, and S&P also reversed early losses and turned higher by late morning as traders saw the large drop in energy supplies as an encouraging sign for economic growth.
The U.S. dollar index reversed sizeable overnight gains and ended notably lower after today’s midday sentiment shift that turned the familiar risk aversion trade into the just as familiar risk taking mindset.
Treasuries were curiously able to hold on to their early risk aversion driven gains and ended decently higher on the day.
Among the big names making news in the market today were HP, BJ’s Wholesale, Sony, and Deere.
The Commentary:
From Ed Stein at http://www.usagold.com/op-ed/cartoons.html
“December Gold closed up 5.6 at 944.8. This was 10.7 up from the low and 2 off the high.
December Silver finished down 0.086 at 13.909, 0.071 off the high and 0.379 up from the low.
The gold market waffled around both sides of unchanged at times during the trade today but it certainly seemed as if the recovery attempt in the US equity market was a catalyst for the recovery move in gold ahead of mid session. Seeing market talk about the prospect of rising energy demand in the US off the weekly inventory numbers seemed to lift a number of physical commodity markets like gold in the trade today. However, one can't rule out the positive influence of the slide in the US Dollar as a key bullish force for the gold market. In the end, seeing the gold market discount the negative demand views floated from the World Gold Council overnight has to give the bull camp added confidence.
With gold prices definitively climbing back into positive ground well before mid session today and silver prices in general failing to definitively climb back and hold in positive ground, one could get the sense that sagging industrial demand views were keeping silver tracking with gold and the US equity market. Perhaps concern for sagging Chinese demand for copper caused some silver bulls to fret over the prospect of slackening Chinese demand for silver.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
So why is Pimco still hawking U.S. government bonds?
The Statistics:
Activity from: 8/18/2009
Gold Warehouse Stocks: | 9,163,510 | -20,006 |
Silver Warehouse Stocks: | 117,483,419 | -132,597 |
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 | 1,065.49 | 34,256,690 | US$ 32,022m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 128.04 | 4,116,716 | US$ 3,877m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,116 | US$ 418m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 43.70 | 1,405,090 | US$ 1,314m |
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 8/18/2009 | |
Total Net Assets | $2,214,593,278 | Ounces of Gold
in Trust | 2,362,200.319 |
Shares Outstanding | 24,050,000 | Tonnes of Gold
in Trust | 73.47 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 8/18/2009 | |
Total Net Assets | $3,996,603,107 | Ounces of Silver
in Trust | 283,719,850.300 |
Shares Outstanding | 288,350,000 | Tonnes of Silver
in Trust | 8,824.67 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
Claude’s (CGR) drill results, Apollo’s (AGT) drilling program, and Oremex’s (ORM.V) infrastructure and community works program update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Rubicon | RBY+12.21% $2.94 |
2. Entree | EGI +6.57% $1.46 |
3. Minefinders | MFN +6.13% $8.48 |
LOSERS
1. Lihir | LIHR -1.53% $20.65 |
2. MAG | MVG -1.50% $4.70 |
3. Silver Wheaton | SLW -0.95% $9.37 |
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:
Simberi Announces Results of Annual and Special Meeting - More
- August 19, 2009 | Item | E-mail
Forsys Metals Corp.: GFI Investment Update - More
- August 19, 2009 | Item | E-mail
Molycorp Minerals Announces New Board Members - More
- August 19, 2009 | Item | E-mail
GobiMin Announces Second Quarter 2009 Results - More
- August 19, 2009 | Item | E-mail
Azteca Announces Private Placement - More
- August 19, 2009 | Item | E-mail
Pacific North West Capital Corp. acquires option 100% of Rock Roll Property, British Columbia - More
- August 19, 2009 | Item | E-mail
Eagle Plains/Waterloo Commence Fieldwork at Ice River Rare Earth (REE) Project - More
- August 19, 2009 | Item | E-mail
Lake Victoria Mining Company's Leach Gold Assays Average 3.48 Grams Per Metric Ton at Kinyambwiga Gold Project, Tanzania - More
- August 19, 2009 | Item | E-mail
Rye Patch Initiates Wilco and Lincoln Hill Drill Programs - More
- August 19, 2009 | Item | E-mail
First Gold Acquires 2 Lithium Properties in Quebec Eastmain Greenstone Belt - More
- August 19, 2009 | Item | E-mail
ATAC Resources Ltd. Receives $4.65 Million Through Exercise of Warrants - More
- August 19, 2009 | Item | E-mail
GWR Closes Subscriptions on $331,113 Private Placement - More
- August 19, 2009 | Item | E-mail
Claude Resources Inc. Intercepts 19.36 Grams of Gold per Tonne Over 3.3 Meters True Width at Seabee Mine - "Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) is pleased to report highlights from its ongoing 2009 underground in-fill and exploration program and its production progress from the Company's Seabee Project." More
- August 19, 2009 | Item | E-mail
Azimut announces the closing of a $300,000 private financing - More
- August 19, 2009 | Item | E-mail
International Wayside Gold Mines Closing USD$14 Million Project Financing Agreement - More
- August 19, 2009 | Item | E-mail
Avanti Mining Raises CDN $4.8 Million Through Warrant Exercises - More
- August 19, 2009 | Item | E-mail
Dia Bras and EXMIN Agree to Merger - More
- August 19, 2009 | Item | E-mail
Haile expands mining team at Haile - More
- August 19, 2009 | Item | E-mail
Anfield Changes Its Name to "Anfield Nickel Corp." and Announces Appointment of New Chairman and Officers - More
- August 19, 2009 | Item | E-mail
Iberian Minerals Announces Launch of New Website, CUSIP/ISIN Number Change, and Analyst Trip - More
- August 19, 2009 | Item | E-mail
Happy Creek Commences Exploration on Its Highland Valley and Cariboo Properties - More
- August 19, 2009 | Item | E-mail
Conquest Resources Limited - Press Release - More
- August 19, 2009 | Item | E-mail
Update to Caldera drift program - More
- August 19, 2009 | Item | E-mail
Minera Andes completes Cdn$23 million equity financing - More
- August 19, 2009 | Item | E-mail
Erdene Receives Updated NI 43-101 Compliant Resource Estimate for the Zuun Mod Molybdenum Project - More
- August 19, 2009 | Item | E-mail
Forsys says Canada halts takeover, shares fall - More
- August 19, 2009 | Item | E-mail
North Arrow Phoenix Project Update - More
- August 19, 2009 | Item | E-mail
Quest Discovers New Rare Earth Zone Close to the Strange Lake Deposit, Quebec - More
- August 19, 2009 | Item | E-mail
Canstar Resources Inc.: Extension of Time Granted for Mary March Decision - More
- August 19, 2009 | Item | E-mail
Detour Gold Reports Drill Results from its Detour Lake Gold Project in Ontario - More
- August 19, 2009 | Item | E-mail
Melkior Drills 2152 Metres in Carscallen-West Timmins: Pyrite in Quartz Veins - More
- August 19, 2009 | Item | E-mail
Colorado Goldfields Acquires California Mining Properties - More
- August 19, 2009 | Item | E-mail
X-Cal Resources Ltd.: Dr. Sillitoe Updates Sleeper Gold Project - More
- August 19, 2009 | Item | E-mail
Anooraq Announces Second Quarter 2009 Results - More
- August 19, 2009 | Item | E-mail
Apollo Gold Commences Grey Fox 2009 Drilling Program - "The Grey Fox project sits along the Destor Porcupine Fault Zone (DPFZ) in the Timmins Mining District of Ontario which has produced over 70 million ounces of gold and is located about 3.5 kilometers southeast of Apollo’s Black Fox mine." More
- August 19, 2009 | Item | E-mail
Oremex Provides Update on Tejamen Infrastructure Program - "Oremex Resources (TSX-V:ORM - News) is pleased to provide an update on the infrastructure and community works program initiated within the Community of Tejamen. The program has been successfully implemented with several projects completed. The community has responded positively to both the employment opportunities and the resulting improvements that have been carried out. The program is funding and creating employment for local residents to carry out refurbishment, beautification, and infrastructure repairs within the community." More
- August 19, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 19 August, 2009 | |
