-- Posted 21 August, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss | On Week |
Gold | $952.90 | +$12.65 | +0.65% |
Silver | $14.16 | +$0.27 | -3.48% |
XAU | 147.37 | +2.18% | +1.02% |
HUI | 358.49 | +2.00% | +0.29% |
GDM | 1082.69 | +1.84% | +0.36% |
JSE Gold | 2337.10 | +11.73 | -3.44% |
USD | 78.05 | -0.34 | -0.96% |
Euro | 143.44 | +0.94 | +1.09% |
Yen | 106.01 | -0.12 | +0.47% |
Oil | $73.89 | +$0.98 | +9.45% |
10-Year | 3.556% | +0.121 | -0.06% |
Bond | 118.8125 | -1.484375 | +0.03% |
Dow | 9505.96 | +1.67% | +1.98% |
Nasdaq | 2020.90 | +1.59% | +1.78% |
S&P | 1026.13 | +1.86% | +2.20% |
The Metals:
Gold fell slightly and Asia, rose to find decent gains in London, and exploded to as high as $957.55 by about 8:30AM EST in New York before it fell back off a bit into the close, but it still ended with a gain of 1.35%. Silver followed a similar pattern and ended near its high of $14.288 with a gain of 1.94%.
Euro gold rose to about €66, platinum gained $18.50 to $1253.50, and copper gained roughly 14 cents to about $2.88.
Gold and silver equities rose over 3% in the first hour of trade before they fell back off a bit for most of the rest of trade, but they still ended with about 2% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Existing Home Sales | July | 5.24M | 5.00M | 4.89M |
TEXT: Bernanke's speech at Jackson Hole Fed conference Reuters
All of this week’s other economic reports:
Next week’s economic highlights include Consumer Confidence and the S&P/CS Home Price Index on Tuesday, Durable Goods Orders and New Home Sales on Wednesday, Initial Jobless Claims and GDP on Thursday, and Personal Income and Spending, Core PCE, and Michigan Sentiment on Friday.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose to its highest price this year at about $74 a barrel on positive economic data around that world that improved the demand outlook.
The U.S. dollar index and treasuries fell on a renewed surge in risk taking that sent the Dow, Nasdaq, and S&P over 1.5% higher on the day. Besides the better than expected housing data, Bernanke’s speech at the Kansas City Fed Bank conference in Jackson Hole also had most market participants looking at the economy a little more optimistically than before.
Among the big names making news in the market Friday were J.M. Smucker, AnnTaylor, and KKR’s Dollar General.
The Commentary:
“December Gold closed up 13 at 954.7. This was 7.9 up from the low and 5.2 off the high.
December Silver finished up 0.286 at 14.199, 0.121 off the high and 0.079 up from the low.
The gold market clearly benefited from the ongoing improvement in macro economic psychology. However, it is also possible that a range down failure in the Dollar provided the gold market with a fresh arbitrage interest during the Friday trade. While it might be premature to suggest that inflationary expectations were serving to lift gold prices on Friday, seeing a 7.2% increase in US Existing Home sales readings certainly served to take the market away from the slowing mentality that was in place at times early in the week. Some traders suggested that gold was given some spillover support from impressive gains forged in markets like copper, crude oil and platinum.
The silver market seemed to have a derailed reaction to the outside market bullishness that was present ahead of the US trading session. However, the silver market eventually played catch up and at times silver was as much as 69.5 cents above the lows forged early in the week. Like gold, it is likely that silver was lifted by the weakness in the Dollar and what seemed to be a broad based improvement in macro economic sentiment.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
King World News interviews GATA's Ed Steer
The Statistics:
Activity from: 8/20/2009
Gold Warehouse Stocks: | 9,172,512 | -707 |
Silver Warehouse Stocks: | 117,772,374 | +338,759 |
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 Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1,065.49 | 34,256,690 | US$ 32,210m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 127.82 | 4,109,625 | US$ 3,920m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,107 | US$ 423m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 43.70 | 1,405,050 | US$ 1,321m |
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 8/20/2009 | |
Total Net Assets | $2,220,686,315 | 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 8/20/2009 | |
Total Net Assets | $3,982,309,582 | 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:
New Gold’s (NGD) equity sale, Newmont’s (NEM) possible share sales, and DRDGOLD’s (DROOY) production costs were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1. Fronteer | FRG +12.27% $4.30 |
2. Mines MGMT | MGN +5.14% $1.84 |
3. ITH | THM +4.83% $3.25 |
LOSERS
1. New Gold | NGD -5.93% $3.49 |
2. Banro | BAA -2.93% $1.99 |
3. Buenaventura | BVN-2.60% $25.47 |
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:
Metallum Resources Inc. Signs Definitive Agreement to Sell its Interest in Chester Township Property to Trelawney Mining and Exploration Inc. - More
- August 21, 2009 | Item | E-mail
Rocky Mountain Resources Corp. Appoints New President - More
- August 21, 2009 | Item | E-mail
Cavan Ventures Inc. Announces the Commencement of KM-Kisgegas Property Exploration Program - More
- August 21, 2009 | Item | E-mail
Icon Announces Exploration Progress at Its Hog Ranch Epithermal Project, Nevada, USA - More
- August 21, 2009 | Item | E-mail
Acero-Martin Exploration Inc.: Closing of 12,000,000 Unit Non-Brokered Private Placement - More
- August 21, 2009 | Item | E-mail
Queensland Minerals Ltd. Announces Second Quarter 2009 Results and Postponement of Shareholders Meeting - More
- August 21, 2009 | Item | E-mail
Rye Patch Gold Grants Incentive Stock Options - More
- August 21, 2009 | Item | E-mail
Crowflight Appoints Mark Trevisiol as President and CEO - More
- August 21, 2009 | Item | E-mail
Duncastle Closes Oversubscribed Flow-Through Private Placement - More
- August 21, 2009 | Item | E-mail
Far City Completes Private Placement - More
- August 21, 2009 | Item | E-mail
Brett Resources Hires Investor Communications Consultant - More
- August 21, 2009 | Item | E-mail
TNR Gold/International Lithium Retain Advisors on Lithium-Brine Project in Argentina - More
- August 21, 2009 | Item | E-mail
Silver Quest Acquires Additonal Properties in the White Gold Area, Yukon - More
- August 21, 2009 | Item | E-mail
Pinnacle Announces Changes to Board of Directors; Progress on Silver Coin Scoping Study - More
- August 21, 2009 | Item | E-mail
Continent Announces Option to Purchase Dos Cabezas Gold Mine, Arizona - More
- August 21, 2009 | Item | E-mail
Tenajon Shareholders Overwhelmingly Approve Business Combination With Creston - More
- August 21, 2009 | Item | E-mail
Advanced Explorations Inc. Closes Private Placement Financings for Gross Proceeds Exceeding $2,600,000 - More
- August 21, 2009 | Item | E-mail
Site visit for phase two evaluation; Stock Options granted - More
- August 21, 2009 | Item | E-mail
New Gold sets C$100 mln discount equity sale - "New Gold Inc (NGD.TO) agreed to sell shares, priced at a discount, to a group of underwriters to raise capital for general corporate purposes.
The company plans to sell 26.7 million common shares at C$3.75 apiece -- a discount of more than 6 percent to the stock's Thursday closing price of C$4." More
- August 21, 2009 | Item | E-mail
Thundermin and Cornerstone File NI 43-101 Technical Report on SEDAR in Support of the Little Deer Mineral Resource Estimate - More
- August 21, 2009 | Item | E-mail
CanAlaska closes additional tranche of private placement - More
- August 21, 2009 | Item | E-mail
Searchlight Minerals Corp. Provides Update on Clarkdale Slag Project - More
- August 21, 2009 | Item | E-mail
Chariot Resources Advises Shareholders of Unwarranted Proxy Contest Launched by Lundin Dissidents - More
- August 21, 2009 | Item | E-mail
Indonesia's Antam says seeking Newmont unit shares - "Indonesia's PT Aneka Tambang Tbk (ANTM.JK) wants to buy shares in a unit of Newmont Mining Corp. (NEM.N) if the state mining firm gets a greenlight from the government to invest, Antam's president director said on Friday." More
- August 21, 2009 | Item | E-mail
DRDGold Desperate to Reduce Costs as Gold Price Falls - "MINER DRDGold would start discussions with trade unions on ways to adjust production at its Blyvooruitzicht underground mine to bring costs below R245000/kg, DRDGold CEO Niël Pretorius said yesterday." More
- August 21, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 21 August, 2009 | |
