-- Posted 25 August, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $943.90 | +$1.15 |
Silver | $14.29 | +$0.08 |
XAU | 146.94 | +0.53% |
HUI | 358.03 | +0.95% |
GDM | 1082.46 | +1.08% |
JSE Gold | 2343.68 | +26.32 |
USD | 78.23 | -0.01 |
Euro | 143.05 | +0.06 |
Yen | 106.22 | +0.41 |
Oil | $72.05 | -$2.32 |
10-Year | 3.450% | -0.044 |
T-Bond | 120.453125 | +0.6875 |
Dow | 9539.29 | +0.32% |
Nasdaq | 2024.23 | +0.13% |
S&P | 1028.00 | +0.24% |
The Metals:
Gold traded modestly higher in Asia and London and rose to see an $11.32 gain at $954.07 by about 9AM EST in New York before it fell back off into the close, but it still ended with a gain of 0.12%. Silver traded mostly slightly lower in Asia and London before it rose to see a $0.193 gain at $14.403 by about 9AM EST and then also fell back off in midmorning New York trade, but it then rallied to a new high of $14.413 midday and ended near that high with a gain of 0.56%.
Euro gold remained at about €659, platinum gained $3.50 to $1238, and copper fell roughly 6 cents to about $2.85.
Gold and silver equities rose over 2% at the open before they chopped their way back lower at various times throughout the day, but they still ended with about 1% gains.
The Economy:
Report | For | Reading | Expected | Previous |
S&P/CS Home Price Index | June | -15.44% | -16.40% | -17.02% |
Consumer Confidence | Aug | 54.1 | 47.9 | 47.4 |
It was also announced late last night that Obama appointed Bernanke to a second term as fed chairman.
Court Orders Federal Reserve to Disclose Emergency Loan Details Bloomberg
White House projects bigger deficits, bigger debt Yahoo
Volcker Says Money-Market Funds Weaken U.S. Financial System Bloomberg
Tomorrow at 8:30AM EST brings Durable Goods Orders for July expected at 3.2%. Excluding transportation, orders are expected at 1.0%. At 10AM is the New Home Sale report for July expected at 390,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil reversed an early move higher to about $75 and ended with an over 3% loss near $72 on profit taking ahead of tomorrow’s inventory data.
The U.S. dollar index ended barely lower in mixed trade.
Treasuries fell in early trade while the Dow, Nasdaq, and S&P rose on better than expected economic data that raised hopes over future growth, but bonds eventually turned higher and ended with slight gains after today’s 2-year note auction went off successfully.
Among the big names making news in the market today were Borders Group, Staples, Medtronic, Citigroup, and the luxury hotel chains.
The Commentary:
“My Dear Friends,
Do not overly concern yourselves.
You are witnessing a titanic battle between the flash traders of the gold banks on the Comex and now countries in cash markets.
The price of gold is all in the US dollar, nowhere else.
The USDX can be manipulated a few 100ths of a point, but not too much more because of the universal desire for an alternative.
China is not a dollar prisoner. That view shared by many is simply wrong. .7600 is the most powerful nearby magnet for the USDX.
What I know fundamentally about November is quietly working its way around the trading and investment world. Alf fields and no other will again distinguish himself as the quintessential Elliot Wave expert.
I can’t answer the amount of calls incoming, nor return the avalanche of emails, but I can write to you here on the site.
Stay the course.
The gold banks, just as in the 70s, will not beat countries. The best they can do is pick the pockets of the option speculators.
Respectfully yours,”- Jim Sinclair, JSMineset.com
“December Gold closed up 2.3 at 946. This was 1.3 up from the low and 10.3 off the high.
December Silver finished up 0.115 at 14.346, 0.114 off the high and 0.106 up from the low.
While the gold market spent a large amount of the trading session in positive ground, the failure to hold the rather impressive early gains could have discouraged a portion of the bull camp. As suggested in the mid day coverage today, the regularly scheduled US economic data was indicative of a recovery in the economy and with the US equity markets forging another new high for the move, gold and other physical commodity markets should have been in favor.
After some initial divergence to the early strength in gold prices, silver prices managed to rally in the wake of mostly favorable US economic data. However, copper and energy price action might have held silver prices back on Tuesday, as the favorable outlook toward the US economy wasn't universally beneficial to markets that tend to impact silver. With weakness in grains and other industrial commodities seen during a large portion of Tuesday's trade, the bull camp in silver had to be put somewhat off balance which also seemed to limit gains.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Ted Butler: Voice of the people
But what if the Banca d'Italia gets into cheese leasing?
More notice for GATA's request for Fed's gold documents
Antal Fekete: Dress rehearsal for the last contango
Court orders disclosure of Fed's emergency loans
Rob Kirby: Shell game revealed?
The Statistics:
Activity from: 8/21/2009
Gold Warehouse Stocks: | 9,173,670 | +1,158 |
Silver Warehouse Stocks: | 117,776,084 | +3,870 |
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 | 1,066.41 | 34,286,129 | US$ 32,613m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 127.82 | 4,109,441 | US$ 3,878m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.80 | 442,088 | US$ 419m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 43.09 | 1,385,370 | US$ 1,318m |
NASDAQ Dubai | Dubai Gold Securities | 0.16 | 5,000 | US$ 5m |
Note: Change in Total Tonnes from yesterday’s data: The JSE subtracted 0.61 tonnes.
COMEX Gold Trust (IAU)
Profile as of 8/24/2009 | |
Total Net Assets | $2,225,312,368 | Ounces of Gold
in Trust | 2,362,200.318 |
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 8/24/2009 | |
Total Net Assets | $4,087,068,070 | 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:
Anatolia’s (ANO.TO) initial resource estimate, Ivanhoe’s (IVN) step towards finalization of the Oyu Tolgoi agreement, Entree’s (EGI) agreement with HoneyBadger Exploration, SNS Silver’s (SNS.V) bankruptcy court ruling, and Revett’s (RVM.TO) debt restructure agreement were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Entree | EGI +25.15% $2.09 |
2. Ivanhoe | IVN+23.54% $10.81 |
3. Nevsun | NSU+10.56% $1.77 |
LOSERS
1. Solitario | XPL -5.68% $1.66 |
2. ITH | THM-5.06% $3.00 |
3. Rubicon | RBY -3.56% $2.98 |
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:
Duran Announces Financing For Up to $1,000,000 - More
- August 25, 2009 | Item | E-mail
Forsys Terminates Arrangement Agreement With GFI - More
- August 25, 2009 | Item | E-mail
Riverstone Announces Drilling Plans on Karma Gold Project - More
- August 25, 2009 | Item | E-mail
Stellar Pacific Ventures Inc. to Acquire GoldenFrank Resources Inc. - More
- August 25, 2009 | Item | E-mail
Concerned Shareholders Respond to Chariot Press Release - More
- August 25, 2009 | Item | E-mail
Eloro Resources Ltd.: Delta Property Shows Potential for VMS-Type Zinc-Lead-Silver, and Vein-Type Gold and Copper-Gold-Silver-Molybdenum - More
- August 25, 2009 | Item | E-mail
Canarc Acquires TAY-LP Gold Property in the Tintina Gold Belt, Yukon - More
- August 25, 2009 | Item | E-mail
Merrex Loan Facility - More
- August 25, 2009 | Item | E-mail
Molycor Completes the First Portion of Private Placement - More
- August 25, 2009 | Item | E-mail
Tenth Circuit Court Grants Uranium Resources Petition for En Banc Review - More
- August 25, 2009 | Item | E-mail
Lundin Mining Seeks Best Value for Its Holding in Chariot Resources - More
- August 25, 2009 | Item | E-mail
Labrador Iron Mines files Environmental Impact Statement for Schefferville Area Iron Ore Project in Western Labrador - More
- August 25, 2009 | Item | E-mail
SNS Announces Bankruptcy Court Ruling - "SNS Silver Corporation ("SNS" or the "Company") (TSX-V:SNS - News) publicly announces a ruling from the Bankruptcy Court for the United States District Court, District of Idaho, granting a significant administrative claim against Sterling Mining Company ("Sterling")." More
- August 25, 2009 | Item | E-mail
Anatolia reports initial resources estimate at Karakartal copper-gold porphyry target - "Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO - News) announces the Preliminary Estimate of Mineral Resources for the Karakartal copper-gold porphyry property in east-central Turkey. Karakartal is located approximately 12 km southeast of Anatolia's Copler Gold Project ("Copler"), which is currently under development." More
- August 25, 2009 | Item | E-mail
Exploration Underway at Eastmain Mine - More
- August 25, 2009 | Item | E-mail
Excel Gold Mining Inc. Announces the Closing of a Private Placement With the MineralFields Group - More
- August 25, 2009 | Item | E-mail
Strathmore Sells Certain Wyoming Uranium Mineral Leases to Peninsula Minerals - More
- August 25, 2009 | Item | E-mail
Golden Predator Commences Drilling on St. Elmo Project, Nevada; Graduates to TSX-V Tier 1 - More
- August 25, 2009 | Item | E-mail
Paladin Energy Ltd: Kayelekera Contractor Fatality - More
- August 25, 2009 | Item | E-mail
Viking Gold completes summer exploration program - More
- August 25, 2009 | Item | E-mail
Unico, Inc. Announces Management Promotions - More
- August 25, 2009 | Item | E-mail
Revett Reaches Agreement to Restructure Debt - "Revett Minerals Inc., Spokane Valley, Washington ("TSX:RVM/OTCBB:RVMIF") ("Revett" or the "Company") has signed an agreement with Trafigura AG to restructure a US $4.3 million interest bearing note. Under the terms of the agreement, $1 million in principal will be converted to equity through the issuance of 8.3 million common shares of Revett Minerals at a price of US $.12 per share." More
- August 25, 2009 | Item | E-mail
Pediment Adds Ounces and Upgrades Resource at San Antonio - More
- August 25, 2009 | Item | E-mail
Miranda Gold Acquires Sediment-Hosted Gold Target Property - More
- August 25, 2009 | Item | E-mail
Merc Intersects 13.91 Grams Gold Per Tonne Over 23.50 Metres at Damoti - More
- August 25, 2009 | Item | E-mail
Paragon Provides Update on Recent JV Agreements and Fieldwork - More
- August 25, 2009 | Item | E-mail
Trilliant Exploration Reports Gold Mining Revenue Estimates From Operations in July - More
- August 25, 2009 | Item | E-mail
Nevada Copper Files Resource Update; NI 43-101 Technical Report on SEDAR - More
- August 25, 2009 | Item | E-mail
Nevada Gold Holdings Inc. Announces Change in Auditing Firm - More
- August 25, 2009 | Item | E-mail
Trevali Announces Positive Mine Development Decision for Santander Silver-Lead-Zinc Project in Peru - More
- August 25, 2009 | Item | E-mail
Canadian Royalties Board Unanimously Recommends Securityholders Reject Jien's Unsolicited Offer - More
- August 25, 2009 | Item | E-mail
Rice Lake Mine Deep Drilling Yields Multiple Significant High Grade Gold Zones - More
- August 25, 2009 | Item | E-mail
Redhawk Receives Major Permit From the State of Arizona for Underground Development of the Copper Creek Project - More
- August 25, 2009 | Item | E-mail
Four Gold Showings Discovered on Thorne Lake Property, Northwestern Ontario, Northern Superior Initiates Drill Program - More
- August 25, 2009 | Item | E-mail
GoldSpring Announces 21% Increase in its Mineral Claims in the Comstock Lode District - More
- August 25, 2009 | Item | E-mail
Mountain Lake Resources Featured in Latest Edition of Clif Droke's Junior Mining Stock Report - More
- August 25, 2009 | Item | E-mail
Linear Metals Reactivates Seymour Lake Lithium/Tantalum/Beryllium Project - More
- August 25, 2009 | Item | E-mail
Lake Shore Gold Continues to Establish Large Gold System at Thunder Creek, Porphyry Structure Extended to at Least 1,125 Metre Depth - More
- August 25, 2009 | Item | E-mail
Thunder Creek Drilling Intersects 12.17 g/t Gold Over 9.00 Metres; Extends Porphyry System to 1,125 Vertical Metres Depth - More
- August 25, 2009 | Item | E-mail
Uranium Energy Corp. Reports Exploration Progress at Grants Ridge Uranium Project in New Mexico - More
- August 25, 2009 | Item | E-mail
Rusoro Mining Reports Record Production of 48,523 Ounces of Gold for Q2 2009 at Record Low Cash Cost of US$322 Per Ounce - More
- August 25, 2009 | Item | E-mail
Colorado Goldfields Acquires Prime Colorado Mining Property - More
- August 25, 2009 | Item | E-mail
Pitchstone Finalizes Namibia Uranium Drilling Plans - More
- August 25, 2009 | Item | E-mail
Western Lithium Appoints Investor Relations Officer - More
- August 25, 2009 | Item | E-mail
Greystar Hits More Gold-Bearing Oxide Mineralization at Mongora - More
- August 25, 2009 | Item | E-mail
Ivanhoe Mines Welcomes Votes in Mongolia's Parliament as Key Step Toward Finalization of Oyu Tolgoi Agreement - "Ivanhoe Mines (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News) President John Macken said today that the company welcomes the Mongolian Parliament's approval of amendments to four laws, including the insertion of a sunset provision to cancel the three-year-old, 68% windfall profits tax on copper and gold effective January 1, 2011." More
- August 25, 2009 | Item | E-mail
Entree Gold Finalizes Agreement with HoneyBadger Exploration - "Entree Gold Inc. (TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA - "Entree" or the "Company") announces that the Company has completed due diligence and received regulatory approval for the option agreement with HoneyBadger Exploration Inc. (TSX.V:TUF - "HoneyBadger") previously announced on July 23, 2009." More
- August 25, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 25 August, 2009 | |
